According to the new research report on "Battery Cyclers Market Forecast to 2028 - COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 298.20 million by 2028; it is expected to register a CAGR of 6.2% from 2022 to 2028.

Numerous governments across the globe, including the UK, the US, Germany, and France, are actively pursuing innovative solutions for battery testing. For example, the UK government announced a funding of approximately US$ 315 million in 2017 for the Faraday Challenge program aimed at supporting the development of new battery technologies. Similarly, the US Department of Energy (DoE) is also providing support for battery cycler development. Government bodies such as the European Union Batteries Directive, Battery Recycling Regulations (China), GRS Batterien Foundation (Germany), Japan Battery Recycling Center (JBRC), and NEV are closely monitoring battery testing and recycling processes. Such government initiatives focused on mitigating the environmental impact of battery disposal are expected to drive the growth of the battery cyclers market worldwide.

The implementation of comprehensive standards is essential to ensure the safe transportation of various products via air cargo. The International Air Transport Association (IATA) has urged various sectors such as aerospace, consumer electronics, energy and utilities, and healthcare, among others, to adopt and implement global standards for screening, testing, and sharing incident information. With the increasing global demand for lithium batteries, many new shippers are entering the air cargo supply chain, making it imperative to follow IATA regulations strictly. This has positively impacted the growth of the battery testing equipment market, ultimately benefiting the battery cyclers market share worldwide.

Europe has a thriving manufacturing industry, which includes major sectors such as automotive, aerospace, machinery, and consumer electronics. The automotive and consumer electronics industries contribute around 7% and 10% of the GDP in European countries, respectively, according to the EU. The automotive industry in Europe is also a major investor in R&D and receives support from governments for this purpose. Major car manufacturers in Europe, such as BMW AG, Volkswagen, Audi, and Volvo, are investing in EV production, which will boost the demand for batteries. Battery cyclers are essential instruments for researching and testing rechargeable batteries, and these factors are likely to drive the growth of the battery cyclers market in the region.

Germany is a leading global producer of vehicles, and many major car manufacturing companies are based in the country, such as BMW AG, Volkswagen, and Audi. The automotive industry in Germany is growing, and this is increasing the demand for electric vehicles. Germany is projected to overtake the US electric vehicle market, with over 20,000 car buyers already adopting electric vehicles. This trend is expected to continue, creating a demand for battery-powered devices in electric cars. Moreover, the German government has approved a grant of US$173.05 million for Northvolt, a Swedish battery manufacturer, to set up a large battery cell production facility in northern Germany. Northvolt plans to develop a 60-gigawatt-hour (GWh) lithium-ion battery plant, which will be a positive influence on the growth of the battery cyclers market.

The battery cyclers market size is segmented into channel, battery type, and end user. Based on channel, the battery cyclers market is segmented into 16, 8, and 4. Based on battery type, the battery cyclers market is categorized into lead acid, nickel-cadmium (NiCd) batteries, nickel-metal (NiMh) batteries, and lithium-ion (Li-Ion) batteries. Based on end user, the battery cyclers market is segmented into aerospace, energy & power, automotive, consumer electronics, and others.

Key Findings of Study

The North American battery cyclers market holds the second-largest market share in the region, driven by increasing investment in product development in sectors such as automotive, consumer electronics, and aerospace. The growing demand for electric vehicles and thin batteries in consumer electronics devices is fuelling the growth of the battery cyclers market in the region.

In Europe, the presence of major battery cyclers manufacturers, including BioLogic Sciences Instruments, DIGATRON, PEC, and others, is contributing significantly to the market's growth. The growing automotive industry in Europe is also driving the demand for battery cyclers, as car manufacturers increase their production to meet the rising demand for EVs. These factors are expected to positively impact the battery cyclers market's growth during the forecast period.

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com