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Battery Test Equipment Market Trends

Report ID: GMI7802
Published Date: Jan 2024
Report Format: PDF

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Battery Test Equipment Market Trends

The surge in investments in battery testing facilities is cultivating substantial growth opportunities for the battery test equipment industry. As industries prioritize robust testing infrastructures to ensure the reliability of energy storage solutions, the demand for advanced testing equipment rises.

The burgeoning demand for Electric Vehicles (EVs) is a pivotal trend propelling the business growth. As the automotive industry increasingly shifts toward electrification, rigorous testing of batteries becomes imperative. Battery test equipment plays a crucial role in ensuring the safety, efficiency, and reliability of EV battery systems. The surge in global EV adoption contributes significantly to the growing need for advanced testing tools, creating lucrative opportunities for the battery test equipment industry to meet the evolving demands of the automotive sector.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of battery test equipment was worth USD 942.9 million in 2023 and is expected to register over 6% CAGR from 2024 to 2032, owing to an increased emphasis on sustainability and energy efficiency worldwide.

The stationery type segment held 62% share of the battery test equipment industry in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, owing to increasing deployment of stationary energy storage systems.

Asia Pacific held over 35% share of the battery test equipment market in 2023 and is expected to register commendable CAGR through 2032, due to the rapid expansion of the renewable energy sector in the region.

Arbin Instruments, Bio-Logic Science Instruments, Bitrode Corporation, Chroma ATE Inc, Digatron Power Electronics, Maccor Inc, and Neware Technology Limited are some of the major battery test equipment companies worldwide.