Battery Analyzer Market Size & Share, by Type (Stationary, Portable); Battery Type (Lithium-ion Battery, Nickel-Cadmium Battery, Lead Acid Battery); End-user (Automotive, Healthcare, Aviation, Defense, IT & Telecom) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3691
  • Published Date: Apr 26, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Battery Analyzer Market size is estimated to reach USD 0.8 billion by the end of 2035, growing at a CAGR of 5% during the forecast period i.e., 2023-2035. The growth of this market is highly driven by the electric vehicle market since battery analyzer utilization can be widely seen in electric vehicles to see the state of battery present in the electric vehicles. Therefore, the electric vehicle market is one of the primary factors driving the growth of the market. The sales of electric vehicles worldwide grew by 9% in 2020, bringing more than 17 million EVs onto roads. The eco-friendly and low-maintenance nature of battery analyzers makes them more popular among people.

Additionally, properties of battery analyzers such as DC voltage and resistance testing are a few significant factors behind the growth of this market. Easy to use, easy connection with the help of a USB port, and user-friendly interface are a few more characteristics of battery analyzers that are expected to raise the growth of this market in the forecast period.


Battery Analyzer Market
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Battery Analyzer Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand for Batteries in Various Industries – Starting from IT to normal household batteries something which is in demand in almost all industries. Therefore, the growing demand for batteries in various industries is anticipated to drive the growth of the market in the forecast period. As per the data, the global industrial battery market held a revenue of USD 9 billion in the year 2020.
  • Excellent Properties of Battery Analyzers – Easy to use, user-friendly interface, DC Voltage, resistance testing, and others are a few top-notch properties of battery analyzers propelling the growth of this market in the forecast period. The Cadex C7400ER Battery Analyzer is an example of a portable battery analyzer that is easy to use and designed for field testing. This is a rugged and compact device that can test and analyze a wide variety of battery chemistries. 
  • Technological Advancements in the IT sector – The global IT sector held a market revenue of USD 2 trillion in 2021.
  • Rising Electric Vehicles Market – Battery Analyzers are widely used in electric vehicles to check the status of batteries in electric vehicles. As per the data, electric vehicles are expected to grow at a CAGR of 67% in the Asia Pacific region by 2029.

Challenges

  • Alternatives Availability in the Market – The availability of substitute tools of battery testers and battery analyzers is the biggest restraint stopping the growth of this market.
  • Fluctuation in Prices Owing to Unsteady Supply Chain
  • Lack of General Awareness

Battery Analyzer Market: Key Insights

 

Base Year

2022

Forecast Year

2023 – 2035

CAGR

~5%

Base Year Market Size (2022)

~USD 200 million

Forecast Year Market Size (2035)

~USD 800 million

Regional Synopsis

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

 

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Battery Analyzer Segmentation

Type (Stationary, Portable)

The battery analyzer market is segmented and analyzed for demand and supply by type into portable and stationary. Out of this, the portable segment is anticipated to account for the largest market share by the end of 2035. The growth of the market is driven by the growing demand for battery analyzers in UPS batteries and for on-site battery analyzers. As per the data, the global UPS batteries market accounted for a market revenue of USD 170 million in 2020. The rise in the demand for simple functioning-based, compact design, and rugged construction-based batteries is also driving the growth of this segment.

End-user (Automotive, Healthcare, Aviation, Defense, IT & Telecom) 

The market is segmented and analyzed for demand and supply by end users into automotive, IT & telecom, healthcare, aviation, defense, and others. Amongst this, the automotive and IT & Telecom segment is expected to hold the largest market share in the forecast period. The market's expansion is driven by the rising popularity of electric vehicles and the increasing use of battery analyzers in the automotive sector to maintain and track the battery servicing of electric vehicles. However, the expansion of the market in the IT and telecom industries is being accelerated by the spike in demand for portable battery analyzers in telecom networks and data center applications.

Our in-depth analysis of the global market includes the following segments:

      By Type

  • Stationary
  • Portable

      By Battery Type

  • Lithium-ion Battery
  •  Nickel-Cadmium Battery
  •  Lead Acid Battery
  •  Others

      By End User Industry

  • Automotive
  • Healthcare
  • Aviation
  • Defense
  • IT & Telecom
  • Others

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Battery Analyzer Market Regional Synopsis

APAC Market Statistics

The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period. This is attributed to the back of presence of the manufacturing industry, along with the growing IT sector, backed by the economic growth in the region. As per the data of the Indian Brand Equity Foundation, the IT and business sector is expected to hold a market revenue of USD 145 million by the end of 2023. Countries such as South Korea, China, India, and Japan are the biggest growth drivers of this market. Battery analyzers are highly used in research and development laboratories which is anticipated to grow the market in this region in the forecast period. The rising use of technologically advanced gadgets and automotive products in this region is also driving the growth of this market. For instance, as per the data, the Indian automotive industry produced around 4266065 units in 2019, and it is anticipated to grow at a CAGR of 12% by the end of 2029.

North American Market Forecast

The market in the North American region is anticipated to gain the largest market share throughout the forecast period. This can be attributed owing to the rapid technical advancement, adoption of new technologies in the IT & telecom sector, and the growing IT sector. The presence of major key players in the region is also expected to boost the market growth. Furthermore, as per a report by International Energy Agency, electric car sales grew in North America by 4% in 2021. It is estimated that by 2030 over 300 million electric cars will run on the streets of the United States. The government of the United States and Canada which are the most popular region of North America is also supporting the demand for Electric Vehicles. For instance, The province of Ontario and the federal government have offered USD 220 million to Ford Motor Company for the production of EVs in the region.

Europe Market Forecast

Additionally, the Europe region is estimated to account for a significant market share in the forecast period. The market is driven by increasing demand for batteries in various industries such as automotive, telecommunications, and power generation. The European battery analyzer market is expected to grow significantly owing to the spread of electric vehicles, which require large-capacity batteries. Moreover, the rising demand for renewable energy storage solutions is expected to further drive market growth.

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Battery Analyzer Market Size
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Companies Dominating the Battery Analyzer Landscape

top-features-companies
    • Global Energy Innovations
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Cadex Electronics Inc.
    • Eagle Eye Power Solutions
    • Chroma ATE Inc.
    • DHC Specialty Corporation
    • Schneider Electric SE
    • Hioki E.E. Corporation
    • Teledyne FLIR LLC
    • Robert Bosch GmbH

In the News

  • Cadex Electronics Inc., a top supplier of Battery Diagnostic Solutions, and CTEK Sweden AB, a global leader in battery management systems, today announced a ground-breaking strategic alliance. Through this partnership, two technology trailblazers will work together to introduce a radical new method of battery testing in the automobile sector.
  • Chroma ATE Inc. makes authentication for battery pack testing simpler. The battery system created for each unique vehicle type is the key distinction between the gas-diesel technology of the past and modern electric vehicle technology. Several authentication levels for diagnostic readings and control of information are put up by manufacturers to prevent security threats such as the loss of sensitive data, tampering with BMS (Battery Management System) data, and charging attempts using fake chargers.

Author Credits:  Dhruv Bhatia


  • Report ID: 3691
  • Published Date: Apr 26, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing requirement to overlook the performance of the battery is the major factor anticipated to drive the growth of the battery analyzer market.

The market is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2035.

Disruption in the supply chain is one of the factors estimated to hamper market growth.

The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Cadex Electronics Inc., Eagle Eye Power Solutions, Chroma ATE Inc., Arbin Instruments, DHC Specialty Corporation, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, battery type, end user, and by region.

The portable segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Battery Analyzer Market Report Scope
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