Increasing Use of Electronic Devices and Rechargeable Batteries Fuels the Market
Companies that use battery cells, modules or packs in their products make sure that the batteries they use are reliable by undergoing rigorous testing. Many sectors such as consumer electronics and energy and utility work as the driving factor for battery testing equipment industry. As there is a constant need of electricity accessibility, there is a demand for high quality batteries in energy and utility sector. With the rise in urbanization, rise in spending habits and increasing need of quality experience, consumer electronics products like smartphones, wearables, laptops, tablets, computers and more will be surging toward the top of the charts expanding the market of battery testing equipment.
Robotics and manufacturing and development of humanoid robots is the emerging industry evolving around batteries and battery testing equipment. There is an emphasis on developing service-based robots that would be used in daily activities such as cleaning and industrial robots that would be used in factories and manufacturing facilities. Hence, this industry would require a wide range of battery testing equipment that would be able to fulfil the need of different types of batteries for different types of robots.
Robotics and manufacturing and development of humanoid robots is the emerging industry evolving around batteries and battery testing equipment. There is an emphasis on developing service-based robots that would be used in daily activities such as cleaning and industrial robots that would be used in factories and manufacturing facilities. Hence, this industry would require a wide range of battery testing equipment that would be able to fulfil the need of different types of batteries for different types of robots.
Increasing Demand of EVs Boost Battery Testing Equipment Market
Electric car sales neared 14 million in 2023, 95% of which were in China, Europe and the United States. According to International Energy Agency, almost 14 million new electric cars were registered globally in 2023, bringing their total number on the roads to 40 million, closely tracking the sales forecast from the 2023 edition of the Global EV Outlook (GEVO-2023). Electric car sales in 2023 were 3.5 million higher than in 2022, a 35% year-on-year increase. Electric cars accounted for around 18% of all cars sold in 2023, up from 14% in 2022. These trends indicate that growth remains robust as electric car markets mature. There are various types of electric vehicles, but battery electric cars accounted for 70% of the electric car stock in 2023.
Electric vehicles need large motors to run which in turn require big rechargeable onboard battery pack systems. These battery pack contain huge amounts of energy in very little space which can cause accidents due to heating and explosion of EV battery packs. Governments of different countries have taken action regarding the matter. For instance, in 2022, Ministry of Road Transport and Highways of the Government of India issued an Amendment on safety of electric vehicles to check the frequent cases of electric vehicles catching fire while on the road, which included the thorough testing of battery packs followed by some government certifications. Because of the safety measures issued by government, there is a high demand for battery testing equipment to ensure that the batteries get into the market are of high quality.
Electric vehicles need large motors to run which in turn require big rechargeable onboard battery pack systems. These battery pack contain huge amounts of energy in very little space which can cause accidents due to heating and explosion of EV battery packs. Governments of different countries have taken action regarding the matter. For instance, in 2022, Ministry of Road Transport and Highways of the Government of India issued an Amendment on safety of electric vehicles to check the frequent cases of electric vehicles catching fire while on the road, which included the thorough testing of battery packs followed by some government certifications. Because of the safety measures issued by government, there is a high demand for battery testing equipment to ensure that the batteries get into the market are of high quality.
Recent Trends in the Battery Testing Equipment Industry:
- Increasing application for quality control in battery packs.
- Integration of artificial intelligence in the battery testing equipment.
- Combining IoT with the battery testing equipment to automate the process.
- Increased adoption in aerospace industry for various purposes.
- Integrating the hardware equipment with software to collect numerical as well as graphical results.
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Industrial Developments and Key Players in the Battery Testing Equipment Market
One of major launches that added value to expansion of battery testing equipment market is, in November 2023, Midtronics, a leading company in automotive battery diagnostics and testing, launched a core technology integrated with its artificial intelligence called MDX-AI for automotive service equipment. With MDX-AI, Midtronics claimed to reduce time for battery diagnostic by eliminating ‘charge and retest’ battery test. With the increase in the market growth, many big companies are coming forward for the development of the technology with investments growing in the field. For instance, Electro Rent, a leading global provider of testing and measurement solutions, announced a strategic inventory investment in battery cycles, regenerative and bi-directional power supplies, electronic load testers, and charging interface testing equipment to support battery testing and battery emulation testing in August 2023.
Strategic Collaborations and Investments in Battery Testing Technology Among Industry Leaders
The investment included the products of various giants in the sea such as Keysight Technologies, NH Research/NI, Delta Elektronika, Electro-Automatik, and GW Instek. Furthermore, to gain a competitive edge in the market companies also collaborate with each other to share resources and ideas. For instance, in July 2023, Indian Institute of Technology Kanpur (IIT Kanpur), an India-based institute announced that institute has leveraged UK-based H.E.L Group’s battery testing technology and expertise in battery performance and application safety in its research work to understand the testing requirements for larger batteries.
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Growth of Manufacturing Industry in Asia-Pacific Dominates the Battery Testing Equipment Market
The market of battery testing equipment is expected to grow in Asia- Pacific owing to rising demand of electric vehicles, laptops, smartphones and more consumer electronics products in emerging developing countries such as China, India, South Korea and more due to rising urbanization and income of people. Battery testing equipment are most needed for testing the quality of batteries when they get manufactured. The Asia-Pacific is currently dominating the battery market in terms of manufacturing. China is the biggest manufacturer of the lithium ion batteries with the players like BYD, Contemporary Amperex Technology Co., Limited, SVOLT Energy Technology, MANLY Battery and more which in turn makes it the biggest consumer of battery testing equipment. Hence, with players like Gester International Co., Ltd., TECPEL CO., LTD., Xiamen Tmax Battery Equipment Limited, Bell Experiment Equipment Co., Ltd., KIKUSUI ELECTRONICS CORP., and more, Asia-Pacific is also the biggest market for battery testing equipment. In 2024, China has become the biggest exporter of battery testing machines with 545 shipments followed by South Korea with 94 and Vietnam with 86 shipments.
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The report provides a detailed overview of the battery testing equipment market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for battery testing equipment market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the battery testing equipment market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the battery testing equipment market. Some key country and region included in the battery testing equipment market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Thailand, Vietnam, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Ethiopia, Algeria, Israel, Iran, Kenya, Rest of MEA |
Battery Testing Equipment Market Research Report Covers In-depth Analysis on:
- Battery testing equipment market detailed segments and segment-wise market breakdown
- Battery testing equipment market dynamics (recent industry trends, drivers, restraints, growth potential, opportunities in battery testing equipment industry)
- Current, historical and forthcoming 10 years market valuation in terms of battery testing equipment market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Battery testing equipment market demand analysis
- Battery testing equipment market pricing analysis over forecast period (by key segment and by region)
- Battery testing equipment market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in battery testing equipment market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in battery testing equipment market
- Battery testing equipment market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on battery testing equipment market forecast by countries
- Mergers and acquisitions in battery testing equipment market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key factors driving the growth of the battery testing equipment market?
Major growth drivers include rising adoption of electric vehicles, the need for renewable energy storage, technological advancements, and regulatory requirements for battery safety and efficiency.
How is the battery testing equipment market expected to evolve in the next decade?
The market is projected to grow significantly, driven by technological innovations, increasing electric vehicle production, and stringent regulations on battery performance and safety.
How does battery testing equipment impact battery performance and safety?
Battery testing equipment ensures batteries meet performance standards and safety regulations, helping to enhance their lifespan, efficiency, and overall reliability, which is crucial for end-user satisfaction.
