Battery Analyzer Market Forecast, Developments & Future Scope To 2027
The players operating in the global battery analyzer market manufacturers are Fluke Corporation (US), Ametek, Inc. (US), Eagle Eye Power Solutions LLC (US), ACT Meters Ltd (UK), Maccor Inc (US), Cadex Electronics Inc. (Canada), HIOKI E.E. CORPORATION (Japan), B&K Precision Corporation (US), Kussmaul Electronics Co. Inc. (US), Meco Instruments Pvt. Ltd (India), Energy Storage Instruments (Canada), PulseTech Products Corp. (US), Vencon Technologies (Canada), Xiamen Tmax Battery Equipments Limited. (China), and Bullard (Germany).
The global market for battery analyzer is expected to be valued at USD 546 million by 2026, with ~4% CAGR during the forecast period, 2020–2026. Battery Analyzer are used to measure the voltage, capacity, and other technical specifications of batteries.
In 2019, Asia-Pacific dominated the global battery analyzer market share: MRFR
The global battery tester market has been segmented into five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. Asia-Pacific is expected to hold the largest share of the battery analyser market during the forecast period. The demand for battery analyzer in this region is majorly drive due to the growing demand for battery analyzers in automotive industry to measure and monitor the batteries of automotive especially electric vehicles, the increasing investments in telecom and data centre industry in the region. In Asia-Pacific, China held the largest market share in 2019 which shows a significant growth in the use of battery analyzer in automotive and IT & telecom industry. As per the International Energy Agency (IEA), in 2019, China contributes nearly 90% out of the total global sales of electric vehicles. Furthermore, in India, as per the Ministry of Commerce & Industry, Government of India, the electric vehicle (EV) market is estimated to reach USD 7.09 billion by 2025. As the authorities in countries such as China and India are focusing on the developments of electric vehicles, the demand for battery analyzer is expected to grow significantly during the forecast period. In the North America and Europe, battery analyzer is gaining exposure due to the increasing developments in data centers and growing sales of electric vehicles.
The global battery analyzer market has been segmented based on type, battery type, and end-use Industry. Based on type, the global market is divided into stationary and portable. The portable segment is expected to hold the larger share of the market and grow at the fastest rate during the forecast period. Based on battery type, the global market is divided into lithium-ion battery, nickel-cadmium battery, and lead acid battery. Based on end-use Industry, the market is segmented into automotive, IT & telecom, healthcare, aviation & defense, and others. The automotive segment is estimated to grow at the fastest rate during the forecast period.
The global battery analyzer market size is expected to grow at ~ 4% CAGR during the forecast period.
Scope of the Report
This report provides an in-depth analysis of the global battery analyzer market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global battery analyzer market by type, battery type, end-use Industry, and region.
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