Global Battery Testing Equipment Market
Dublin, June 27, 2022 (GLOBE NEWSWIRE) -- The "Global Battery Testing Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product Type, Application, and End User and Others" report has been added to ResearchAndMarkets.com's offering.
The Battery Testing Equipment market is projected to reach US$ 682.98 million by 2028 from US$ 494.33 million in 2021; it is estimated to grow at a CAGR of 4.7% from 2021 to 2028.
Batteries enhance the efficiency of healthcare operations by supporting customization. Moreover, due to the ongoing COVID-19 pandemic, the demand for ventilators, diagnostic equipment, and other critical care devices has increased worldwide. Therefore, prominent battery testing equipment companies offer continuous support and services to meet the continuously surging demand from the healthcare sector.
Continuous testing and maintenance are required to reduce battery wastage, and ensure battery and equipment safety. Hence, the growing demand for medical equipment and the need to reduce battery wastage are expected to provide growth opportunities to the battery testing equipment market size in the coming years.
The global battery testing equipment market is a highly fragmented market with considerable regional and local players providing solutions for retailers across the globe. Factors such as reducing lithium-ion battery prices, booming penetration of electric vehicles, and fostering renewable energy sector is contributing towards the development of batteries.
Moreover, rising demand from telecom sector in respect to data centers as they are integrating digital infrastructures is another factor contributing significantly towards the market growth.
European countries house pharmaceutical and healthcare companies that are the major user of batteries. With the growing number of hospitals and clinics, the use of devices and equipment used in these facilities is also rising. Also, the region has gigantic automakers, which is another attribute of the production of electric vehicles.
With the growing automotive business in the region, the scope of battery-powered manufacturing devices used in vehicles is likely to increase during the forecast period. This is further expected to augment the battery testing equipment market growth.
APAC is anticipated to register the highest CAGR of 5.8% in the battery testing equipment market during 2021-2028. The region comprises several developing economies, such as China, India, Singapore, Vietnam, and southeast countries, as well as developed economies, such as Japan and Australia.
Growing telecom, manufacturing, electronics, and semiconductors industries in countries such as China, Japan, Taiwan, India, and South Korea are likely to create lucrative opportunities for the adoption of batteries in the coming years. These aspects are foreseen to create lucrative business opportunities for the battery testing equipment market players in the region.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Battery Testing Equipment Market Landscape
4.1 Market Overview
4.2 PEST Analysis
5. Battery Testing Equipment Market - Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Transportation
5.1.2 Increase in Defense Expenditure in Developed Countries
5.2 Market Restraints
5.2.1 High Cost of Development and Maintenance of Battery Testing Equipment
5.3 Market Opportunities
5.3.1 Increasing Adoption of Battery Testing Equipment in Healthcare
5.4 Future Trends
5.4.1 Surge in Animatronics and Robotics
5.4.2 UAVs and Urban Air Mobility
5.5 Impact Analysis of Drivers and Restraints
6. Battery Testing Equipment Market - Global Analysis
6.1 Global Battery Testing Equipment Market Overview
6.2 Battery Testing Equipment Market - Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning/Market Share Analysis - Five Key Players
7. Battery Testing Equipment Market - By Product Type
7.2 Battery Testing Equipment Market, by Product Type (2020 and 2028)
7.3 Portable Battery Testing Equipment
7.4 Stationary Battery Testing Equipment
8. Battery Testing Equipment Market Analysis - By Application
8.2 Battery Testing Equipment Market, By Application (2020 and 2028)
8.3 Module Testing
8.5 Pack Testing
9. Battery Testing Equipment Market Analysis - By End-User
9.2 Battery Testing Equipment Market, By End-User (2020 and 2028)
9.4 Electronics and Semiconductor
9.7 Energy and Utility
10. Battery Testing Equipment Market - Geographic Analysis
11. Impact of COVID-19 Pandemic
12. Industry Landscape
12.2 Market Initiative
12.3 New Product Development
12.4 Competitive Benchmarking
Chroma Systems Solutions, Inc.
Ametek Scientific Instruments
Digatron Power Electronics GmbH
HORIBA FuelCon GmbH
KEYSIGHT TECHNOLOGIES, INC.
NH Research, Inc.
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