From $750 Million to $1.3 Billion: The Future of Battery Cyclers

 

The Global Battery Cyclers Market valued at US$ 750.0 million in 2023, is anticipated to grow at a compound annual growth rate (CAGR) of 4.9% over the forecast period from 2024 to 2034, reaching an estimated market size of US$ 1.3 billion by the end of 2034. The market is experiencing significant growth driven by the increasing adoption of modern electronic technologies and the continuous R&D of next-generation battery cycling systems.

The widespread adoption of advanced electronic devices, which require robust and efficient battery systems, is a primary driver for the growth of the battery cyclers market. Battery testing systems are crucial for testing and characterizing newly developed batteries, ensuring their performance and safety. Innovations in power electronics, digital control, and communications are enhancing the functionality and efficiency of battery cycling systems, thereby propelling market growth.

 

Download Sample PDF from Here- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=86325&utm_source=Openpr&utm_medium=Amit

 

Key Market Dynamics

Rise in Adoption of Modern Electronic Technologies: The global demand for advanced digital technologies and devices such as smartphones, laptops, and electric vehicles (EVs) is on the rise. According to the International Energy Agency (IEA), 2023 witnessed a 35% year-on-year increase in EV sales, with an additional 3.5 million units sold compared to 2022. The growing popularity of EVs, fueled by government incentives and heightened concerns over carbon emissions, is a major contributor to the increased demand for reliable battery systems.

Rechargeable batteries, including those made from lithium-ion, lead, nickel, and other materials, power these electronic devices and EVs. These batteries are also integral to energy storage in microgrids. As semiconductor technologies advance, battery-powered vehicles and devices are evolving, necessitating the development of more efficient and reliable battery systems.

 

R&D of Next-generation Battery Cycling Systems: The development of renewable energy systems has spurred the need for innovative batteries and corresponding testing technologies. Leading manufacturers are investing heavily in the design and development of advanced battery cyclers. Collaborations with independent testing labs, battery manufacturers, and major automakers are fostering the creation of next-generation battery cyclers that enhance the utilization and safety of batteries.

In May 2023, Bitrode Corporation launched the Bitrode Digital Cycler™ at the Battery Show Europe, designed to meet the demands of testing high-capacity battery cells. This development underscores the industry's commitment to advancing battery testing technologies.

 

Market Segmentation

By Offering

Hardware, Software, Services

By Battery Type

Lithium-ion, Lead-acid, Nickel-based, Others (Lithium Cobalt, Lithium Manganese, etc.)

By Application

Research, End-of-Line

By Industry Vertical

Automotive & Transportation, Consumer Electronics, Energy & Utility, Industrial, Others (Research & Academia, etc.)

 

Regional Market Insights

Asia Pacific Leads the Market

Asia Pacific dominated the battery cyclers market in 2023 and is expected to maintain its leading position throughout the forecast period. The region's market dynamics are driven by the surge in EV adoption, particularly in China, Europe, and the U.S. According to the IEA, EV sales in 2023 neared 14 million units, with China accounting for a significant share of new energy vehicle sales.

Europe is also witnessing a growing demand for battery storage in grid infrastructure. The European Commission’s Joint Research Center's 2023 Solar Power Europe Report highlights the need for 200 GW of battery storage in the EU's grid infrastructure, further bolstering the market for battery cyclers in the region.

 

Key Players:

·         AMETEK.Inc.

·         Arbin Instruments

·         AVL

·         BioLogic

·         Bitrode Corp.

·         Chroma ATE Inc.

·         DIGATRON

·         Greenlight Innovation

·         Ivium Technologies B.V.

·         Maccor, Inc.

·         MATSUSADA PRECISION Inc.

·         NATIONAL INSTRUMENTS CORP.

·         Neware Battery Testers International

·         Unico, LLC

·         Xiamen Acey New Energy Technology Co., Ltd.

 

Recent Developments

• In May 2024, Schneider Electric announced a new Battery Energy Storage System (BESS) designed to serve as the cornerstone for its fully integrated microgrid solution.
• Eurofins EAG Laboratories, a provider of materials testing services, expanded its facilities with new laboratories in Sunnyvale, CA, and Syracuse, NY, to enhance its battery materials testing capabilities.
• EA Elektro-Automatik introduced the 10300 Series of automated battery cycler and test systems in 2023, aimed at improving EV battery testing.

 

Click Here to Purchase this Comprehensive Insights Report @ https://www.transparencymarketresearch.com/checkout.php?rep_id=86325&ltype=S&utm_source=Openpr&utm_medium=Amit

About Us Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact Us:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com