The rise in electric vehicle adoption is a primary driver for the battery cyclers market. EV batteries require extensive testing and cycling to ensure safety, longevity, and performance.
Wilmington, Delaware, United States, Transparency Market Research, Inc., July 30, 2024 (GLOBE NEWSWIRE) — The battery cyclers market (배터리 사이클러 시장) was projected to attain US$ 750.0 million in 2023. It is likely to garner a 4.9% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 1.3 billion.
The proliferation of portable electronic devices, such as smartphones, laptops, and wearables, necessitates reliable battery testing solutions to ensure product safety and performance. The integration of battery cyclers with IoT and automation technologies is enhancing testing efficiency, data collection, and analysis, leading to more accurate and rapid results.
There is a trend towards developing high-precision battery cyclers capable of simulating real-world conditions more accurately, improving the reliability of test results. Manufacturers are focusing on developing environmentally friendly and energy-efficient battery cyclers to align with sustainability goals.
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Increasing demand for customized battery testing solutions tailored to specific applications, such as automotive, aerospace, and consumer electronics, is driving market growth. Continuous investment in R&D to develop next-generation battery cyclers with enhanced capabilities, such as faster testing cycles and improved accuracy, can offer a competitive edge.
Significant investments in battery manufacturing plants, especially in Asia-Pacific regions, are driving the demand for advanced battery cyclers for quality control and testing. The incorporation of AI and machine learning in battery cyclers for predictive analysis and optimization of battery performance testing is gaining traction.
Key Findings of the Market Report
- Large-scale grid storage projects, driven by renewable energy integration, present a substantial opportunity for battery cyclers designed for high-capacity batteries.
- The development of hybrid energy storage systems combining batteries with other technologies (e.g., supercapacitors) offers opportunities for specialized battery cyclers.
- The growing use of batteries in medical devices and healthcare applications creates a need for precise and reliable battery testing solutions.
- Military and defense sectors are adopting advanced battery technologies for various applications, such as portable power supplies and unmanned systems, presenting opportunities for robust battery cyclers.
Market Trends for Battery Cyclers
- By offering, the hardware segment is expected to boost the growth of the battery cyclers market. The surge in electric vehicle (EV) adoption worldwide requires extensive battery testing to ensure performance, safety, and longevity. This creates a significant demand for high-quality battery cycler hardware.
- In terms of battery type, the lithium-ion segment is anticipated to propel the market growth. Lithium-ion batteries are the preferred choice for electric vehicles due to their high energy density, long cycle life, and efficiency. The increasing adoption of EVs globally drives the demand for lithium-ion battery testing, boosting the need for battery cyclers.
Global Market for Battery Cyclers: Regional Outlook
North America
- North America, particularly the United States and Canada, is witnessing a substantial increase in the adoption of electric vehicles.
- Government incentives, advancements in EV technology, and growing environmental awareness are driving this trend, necessitating extensive battery testing and cycling.
- Continuous innovations in battery technologies, including the development of high-capacity and fast-charging batteries, require rigorous testing.
- North America’s strong emphasis on research and development in the battery sector fuels the demand for advanced battery cyclers.
Asia Pacific
- Asia Pacific is home to some of the world’s largest battery manufacturers, with significant investments in new production facilities and the expansion of existing ones.
- This drives the demand for battery cyclers for quality control and testing during production.
- The proliferation of consumer electronics, such as smartphones, laptops, and wearable devices, in Asia Pacific drives the need for efficient and reliable battery testing to ensure product safety and performance.
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Battery Cyclers Market: Key Players
The battery cyclers market is characterized by a competitive landscape with several key players operating in the space. These players range from established multinational corporations to specialized firms focusing on advanced battery testing technologies.
The market is driven by technological advancements, increasing demand for electric vehicles (EVs), and the expansion of renewable energy storage solutions. The following companies are well known participants in the battery cyclers market:
- 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.
Key Developments
- In 2024, Eurofins EAG Laboratories, a leading provider of materials testing services, inaugurated a new, purpose-built 6,600 square-foot laboratory in Sunnyvale, CA. Additionally, the company expanded its facilities in Syracuse, New York, by adding 6,500 square feet of new laboratory space. These expansions are designed to enhance Eurofins EAG Laboratories’ battery materials testing capabilities.
- In 2023, EA Elektro-Automatik, a German manufacturer of DC programmable power supplies, bidirectional power supplies, and regenerative electronic loads, unveiled the 10300 Series of automated battery cycler and test systems. These systems are designed to enhance the testing capabilities for EV battery manufacturers.
Battery Cyclers 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.)
By Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
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