Contact Us

Global Battery Cyclers Market Share 2024, Forecast To 2033

20 Sep, 2024

The battery cyclers market has seen a notable increase, growing from $0.60 billion in 2023 to $0.69 billion in 2024, with a remarkable CAGR of 14.2%. This growth is fueled by the rise of electric vehicles, expansion in renewable energy, advancements in consumer electronics, R&D activities, and industrial automation. The market is projected to continue expanding, reaching $1.18 billion by 2028 at a CAGR of 14.4%. Factors contributing to this growth include a heightened focus on sustainability, increasing demand for electric scooters and e-bikes, the need for reliable battery cyclers, and the integration of renewable energy solutions. Key trends include advanced data analytics, high-precision control systems, automation and robotics adoption, AI and machine learning integration, and fast-charging simulation capabilities.

Major Driver In The Battery Cyclers Market

The battery cyclers market is anticipated to grow significantly with the rise in the electric vehicle (EV) industry. EVs, which utilize electric motors powered by batteries, are becoming increasingly popular due to their environmental benefits, advancements in battery technology, and supportive government policies. Battery cyclers are essential for testing and validating batteries to ensure they meet reliability, performance, and safety standards. The International Energy Agency reported a 35% annual rise in EV sales in April 2024, with 3.5 million more electric vehicles sold in 2023 compared to 2022. This robust growth in the EV industry is driving the expansion of the battery cyclers market.

Request A Free Sample Of The Battery Cyclers Market Report

Battery Cyclers Market Competitive Landscape

WonATech Co. Ltd., Unico LLC, HIOKI E.E. CORPORATION, Neware Technology Limited, Bitrode Corporation, Solartron Analytical, DIGATRON Industrie-Elektronik GmbH, Maccor Inc., Amtest Electro Kft., Arbin Instruments, Chroma ATE Inc., Gamry Instruments, NH Research Inc., Aralab S.L., BioLogic Science Instruments SAS, Xiamen Tmax Battery Equipments Limited, Battery Associates Inc., Ivium Technologies BV, CH Instruments Inc., Petrotest Instruments

Key Battery Cyclers Market Trend

The battery cyclers market is witnessing innovation as companies develop advanced battery testing technologies to enhance the accuracy, efficiency, and reliability of battery performance assessments across various industries. For example, in April 2024, BioLogic, a France-based pharmaceutical company, introduced the BCS-900 battery cycler series. This series integrates exceptional performance with user-focused design and features the innovative BT-Lab software suite. Catering to research, development, pilot production, and quality control testing, the BCS-900 series sets a new standard in battery testing versatility and capability.

Purchase The Global Battery Cyclers Market Report Directly And Get A Swift Delivery

Battery Cyclers Market Segmentation

The battery cyclers market covered in this report is segmented –
1) By Battery Type: Lithium-Ion, Lead-Acid, Nickel-Based Batteries, Other Batteries
2) By Service: Cell Testing, Module Testing, Pack Testing
3) By Application: Research, End-of-Line
4) By Industry: Automotive And Transportation, Consumer Electronics, Energy And Utility, Industrial, Education And Research, Other Industries
By Geography:The regions covered in the battery cyclers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. North America was the largest region in the battery cyclers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The Battery Cyclers Global Market Report 2024 furnishes information about the global battery cyclers market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.