Battery Cyclers Market Size, Share, Analysis & Forecast 2028

report image

Battery Cyclers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Channel Type (16, 8, and 4), Battery Type [Lead Acid, Nickel Cadmium (NiCd) Batteries, Nickel-Metal (NiMh) Batteries, and Lithium-Ion (Li-Ion) Batteries], and End User (Aerospace, Energy & Power, Automotive, Consumer Electronics, and Others

Publication Month: Sep 2022 | Report Code: TIPRE00029730 | No. of Pages: 159 | Category: Electronics and Semiconductor | Status: Published

The battery cyclers market size is valued US$ 208.14 million in 2022, it is expected to grow at a CAGR of 6.2% from 2022 to 2028

Aerospace, automotive, consumer electronics, and various other industries are heavily investing in advanced technologies to strengthen their capabilities with advanced machinery and offer enhanced services to customers. The rising demand for advanced machinery will also require battery cyclers to test such machinery; this will increase the demand for battery cyclers in the forecast period. The increasing demand for electric vehicles, which led to a surge in the usage of various batteries, and the growing use of smartphones, laptops, tablets, wearables, and other consumer electronics devices that are boosting the need for thin batteries are further stimulating the demand for battery cyclers. Further, several companies that are established in countries such as China, India, Japan, the US, France, Sweden, and the UK are developing advanced battery testing equipment for the global battery cyclers market. For instance, in February 2022, HIOKI E.E. CORPORATION announced that it would launch three new battery quality testers, which are designed to detect latent defects in quality inspections on battery production lines. Thus, with the implementation of such battery quality testers, the company is increasing the safety of lithium-ion batteries.

Consumer electronics and automotive are the most prominent industries in Japan, and these industries are expected to boost the testing and maintenance of the battery cyclers market in the coming years. Furthermore, market players are adopting various initiatives to improve battery testing, which plays a vital role in fueling the market growth. In August 2020, the Kyoto University and Toyota Motor were engaged in creating next-generation battery technology with the capability to fill the maximum amount of energy into a lightweight and small package as compared to existing lithium-ion batteries. They have created a prototype rechargeable battery on the basis of fluoride. Further, in August 2022, Japan’s Ministry of Economy, Trade and Industry announced to invest over US$ 24 billion in both the public and private sectors to develop a competitive manufacturing base for batteries used in areas such as electric vehicles (EVs) and energy storage. The development of new types of batteries will fuel the adoption of battery cyclers.

Battery Cyclers Market - Strategic Insights

Report Coverage - Battery Cyclers Market
Report CoverageDetails
Market Size Value inUS$ 208.14 Million in 2022
Market Size Value byUS$ 298.20 Million by 2028
Growth rateCAGR of 6.2% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages159
No. of Tables83
No. of Charts & Figures86
Historical data availableYes
Segments coveredChannel Type, Battery Type, and End User
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Impact of COVID-19 Pandemic on North America Battery Cyclers Market

 

The battery cyclers market was hampered in Q2 2020 as many manufacturing plants in North America were temporarily shut down. The automakers in the region agreed to implement the temporary shutdown of factories, extend periods between two shifts, social distancing, and extensive deep cleaning of surroundings. In March 2020, several automakers, including GM, Ford, and Honda Motors, closed their facilities for extensive cleaning, which led to disruptions in the supply chains of components and parts.

Many battery testing equipment and component manufacturers are present in the US, and the COVID-19 pandemic severely affected the production and revenue generation of these enterprises. The restricted availability of manufacturing staff resulted in lesser production quantity. Further, the limited availability of raw materials and shutdown of aerospace hampered the battery cyclers market growth in the US. However, rising demand for decarbonized vehicles in the country and the continued development of electric vehicles by companies such as Tesla, General Motors, and Ford are expected to offer growth opportunities for battery manufacturing companies. As a result, the battery cyclers market has been growing since Q3 of 2020 in North America.

Lucrative Regions for Battery Cyclers Market

Lucrative Regions for Battery Cyclers Market

Get more information on this report :

Market Insights – Battery Cyclers Market

Based on geography, the battery cyclers market size is primarily segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). Asia Pacific is expected to account for the largest battery cyclers market share in 2022, and it is expected to witness the highest CAGR in the global battery cyclers market during the forecast period.

North America is expected to hold the second-largest share of the battery cyclers market in 2022, wherein the US is expected to dominate the North America battery cyclers market share. The US is home to various industries, including automotive, energy & utilities, consumer electronics, and healthcare. The growing industrial sector in the US will create a positive impact on the growth of battery-powered devices in these industries, thereby stimulating the adoption of battery cyclers for testing and maintenance. Moreover, Unico, LLC; Bitrode Corporation; Chroma Systems Solutions, Inc.; Arbin Instruments; PEC are a few other major companies present in the US offering battery cyclers to diversified industries. Additionally, in March 2022, NanoGraf, an advanced battery material company, had a contract from the US Department of Defense to produce a more powerful, longer-lasting 4.3Ah lithium-ion battery for US$ 1 million. The cell will provide US military personnel with enhanced run-time for equipment to maintain safe and efficient operations. Such battery production will create a positive impact on the growth of the battery cyclers market.

Battery type - Based Insights – Battery Cyclers Market

Based on battery type, the battery cyclers market is segmented into lead acid, nickel-cadmium batteries, nickel-metal hydride batteries, and lithium-ion batteries. The lithium-ion batteries segment is expected to dominate the battery cyclers market in 2022. The lithium-ion (Li-ion) batteries are used in electronics, toys, handheld power tools, wireless headphones, small and large appliances, electric vehicles, and electrical energy storage systems. Due to its high energy density, its demand in the market is increasing significantly. They are smaller and lighter than other batteries but hold the same energy, thus increasing its demand in the consumer electronics industry. These batteries are used for emergency power backup or uninterruptible power supply (UPS), thus raising its demand in the energy & power industry. They are also used in boats and yachts as they provide years of reliable motor starts and are used in surveillance or alarm systems in remote locations. All the above factors fuel the demand for lithium-ion (Li-ion) batteries, thus raising the demand for battery cyclers and in turn boosting the battery cyclers market growth.

The battery cyclers market players are mainly focused on the development of advanced and efficient systems.

  • In September 2022, Chroma Systems Solutions, Inc. announced that on 18 and 19 October 2022, the company would have an opening celebration of its new facility in Austin, Texas. The company will try to meet the growing demand for battery and power conversion test equipment.
  • In February 2021, HIOKI E.E. CORPORATION announced the launch of the Battery Tester BT3554-50. It streamlines lead-acid battery diagnostics with audio measurement and recording guidance.

Frequently Asked Questions

The estimated global market size for the battery cyclers market in 2022 is expected to be around US$ 208.14 million
1. Increasing production and use of electric vehicles 2. Government initiatives for the development of efficient battery cyclers
Increasing adoption of battery cyclers in the healthcare sector. Lithium batteries are the preferred choice for both primary and backup energy sources in implanted and portable devices due to their long life and high energy density. Monitors; tools such as surgical drills and robots; and vital devices such as defibrillators, transport ventilators, and heart and lung machines need batteries
Arbin Technologies; ST Instruments B.V.; BioLogic Sciences Instruments; Chroma Systems Solutions, Inc.; and Unico, LLC are the key market players of the battery cyclers market.
Asia Pacific is expected to register the highest CAGR in the battery cyclers market during the forecast period.
India, Canada, UK, UAE, and Brazil are expected to register high growth rates during the forecast period.

The List of Companies - Battery Cyclers Market

  1. BioLogic Sciences Instruments
  2. Unico, LLC
  3. Bitrode Corporation
  4. Chroma Systems Solutions, Inc
  5. HIOKI E.E. CORPORATION
  6. Arbin Instruments
  7. DIGATRON
  8. PEC
  9. Xiamen Tmax Battery Equipments Limited
  10. Gamry Instruments
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global battery cyclers market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global battery cyclers market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
TIPRE00029730
Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Get the Latest COVID-19 Analysis on this market




tip-analyst

Have a question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Speak To Analyst
Pricing
  • $3000
  • $4550
  • $6550
  • $8550

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.

    Inquire for Discount