CHICAGO, April 30,
2024 /PRNewswire/ -- The global battery cyclers
market size is projected to grow from USD
794 million in 2024 to USD 1,609
million by 2029 at CAGR of 15.2% during the forecast period
according to a new report by MarketsandMarkets™. Battery
cyclers are essential workhorses in battery technology, playing
critical roles in both research and development as well as in the
manufacturing process. In research applications, they enable
precise control over charging and discharging processes,
facilitating tests to understand battery behavior and optimize
design. Meanwhile, in manufacturing, battery cyclers ensure battery
quality, reliability, and safety through meticulous end-of-line
testing procedures.
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Browse in-depth TOC on "Battery Cyclers
Market"
120 – Tables
50 – Figures
250 – Pages
Battery Cyclers Market Report Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$ 794 million
|
Estimated Value by
2029
|
$ 1,609 million
|
Growth Rate
|
Poised to grow at a
CAGR of 15.2%
|
Market Size Available
for
|
2020–2029
|
Forecast
Period
|
2024–2029
|
Forecast
Units
|
Value (USD
Million/Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
By Battery,
Application, Function, Industry and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, and Rest of World
|
Key Market
Challenge
|
Availability of
alternative testing methods and equipment
|
Key Market
Opportunities
|
Emerging EV
industry
|
Key Market
Drivers
|
Increased demand for
renewable energy
|
The market for research applications is expected to grow at a
significant CAGR during the forecast period.
Battery cyclers stand as indispensable tools in battery
research, empowering researchers in their development process to
enhance existing battery technologies and innovate new ones.
Through precise control over the charging and discharging
processes, battery cyclers enable researchers to understand battery
behavior deeply. Parameters such as capacity, efficiency, and
lifespan are meticulously scrutinized during charge and discharge
cycles, providing invaluable insights into how batteries perform
under various conditions. Moreover, battery cyclers facilitate the
optimization of battery design by allowing researchers to test
different electrode materials, electrolytes, and cell
configurations, thus improving battery performance and
lifespan.
The lead acid battery type segment is expected to gain a
substantial market share during the forecast period.
Lead-acid batteries have long been the backbone of the
automotive industry, renowned for their affordability and
reliability in providing starting power for vehicles. Despite the
emergence of newer battery technologies, the enduring presence of
lead-acid batteries emphasizes their significance in various
applications. Battery cyclers play a crucial role in maintaining
and optimizing the performance of lead-acid batteries, catering to
their specific charging and testing needs. Understanding the
nuances of lead-acid battery charging is essential for ensuring
their longevity and efficiency. Battery cyclers facilitate
techniques like equalization charging, which helps mitigate
sulfation—a common issue in lead-acid batteries caused by the
formation of lead sulfate crystals on the battery plates. Battery
cyclers break down these crystals by applying a slightly higher
voltage for a controlled duration, thus restoring battery capacity
and extending its operational life.
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European region is expected to hold a substantial share of
the global battery cyclers market during the forecast
period.
The European battery cyclers industry has been segmented into
Germany, UK, France, and Rest of Europe. The Rest of Europe market scope primarily includes
Netherlands, Italy, Belgium, Hungary, Poland, and Norway. The emerging electric vehicle market
is positively impacting the manufacturing of battery cells in the
region, thereby impacting the battery cyclers market. The
flourishing automotive industry in Europe and the increasing adoption of
e-mobility and renewable energy sources drive substantial demand
for batteries across various sectors. This surge in battery usage
inevitably leads to a corresponding need for testing solutions,
creating a favorable environment for the battery cyclers market in
the European region. Further, in the context of the growing demand
for batteries in the European region due to factors like the rise
of e-mobility and renewable energy, there is a consequential need
for efficient testing and evaluation of these batteries. As the f
Alliance drives initiatives such as "Battery 2030+" to advance
battery technologies, including sustainability measures, the
importance of rigorous testing using battery cyclers becomes
predominant. This emphasis on battery performance testing ensures
the quality and reliability of batteries. It indirectly supports
the battery cyclers market by creating a demand for testing
equipment and services within Europe.
Key Players
The key players in the battery cyclers companies include
AMETEK.Inc. (US), BioLogic (France), Chroma ATE, Inc. (Taiwan), Arbin Instruments (US), DIGATRON (US)
and others.
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Browse Adjacent Market: Semiconductor and Electronics
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