Battery analyzer market size is projected to reach USD 546 Million by 2026. The market is expected to grow at ~4% CAGR during the forecast period.
A device which stores electric charge is called a battery, and it consists of one or more than one electrolytic cells. Electric power supply begins when connected to various devices such as watches, flashlights, clocks, smartphones, and electric cars. One can also recognize the battery analyzer as a tester as this is used to check the state of the electric battery. The device is used to measure the batteries' voltage, capacity, and resistance. The electricians use this to know the device's current situation and if it can be used or not further, and it also predicts the replacement. It is also used as a backup application for power distribution systems, data centres and telecom networks. People use battery analyzers in various industries. The industries are automotive, healthcare, aviation, IT and telecom. The increasing demand for battery power sources in data centres is one of the major factors for the market growth. The automotive industry's expanding adoption of battery analyzers and the rising demand for electric vehicles due to environmental concerns propel the market.
The key players operating in the global battery analyzer market are Fluke Corporation (US), Ametek, Inc. (US), Xiamen Tmax Battery Equipments Limited. (China), HIOKI E.E. CORPORATION (Japan), ACT Meters Ltd (UK), Cadex Electronics Inc. (Canada), Eagle Eye Power Solutions LLC (US), Kussmaul Electronics Co. Inc. (US), Maccor Inc (US), Meco Instruments Pvt. Ltd (India), PulseTech Products Corp. (US), B&K Precision Corporation (US), Bullard (Germany), Energy Storage Instruments (Canada), and Vencon Technologies (Canada).
Saelig has unveiled the new Aim-TTi PSA Series 3 RF Spectrum Analyzers. Available in 1.3 GHz and 2.7 GHz versions, the small, portable units reportedly have a long battery life than the Series 2 line and new features. The features include a low noise floor to increase the sensitivity.
BIOTRONIK, Inc. announced today it had received U.S. Food and Drug Administration (FDA) approval for Renamic Neo, the company's state-of-the-art programmer for implanted cardiac rhythm management devices such as ICDs, pacemakers, and implantable cardiac monitors.
Continental has developed a fully electric test vehicle to measure the breaking performance of its passenger car tires.
The global battery analyzer market has been segmented based on type, battery type, end-use Industry, and region. Based on type, the global market is divided into stationary and portable. The portable segment is expected to hold the largest share of the market. The portable segment is expected to grow at a faster rate during the forecast period owing to various advantages such as compact size and easy to move as per the desired requirements in the end-use Industry. Based on battery type, the global market is divided into lithium-ion battery, nickel-cadmium battery, and lead acid battery. The lithium-ion segment is expected to hold the largest share of the market share and it is expected to grow at the fastest rate during the forecast period. The lithium-ion battery offers several advantages such as high energy density, better load characteristics, and low maintenance as compared to other type of batteries. Based on end-use Industry, the market is segmented into automotive, IT & telecom, healthcare, aviation & defense, and others. The automotive segment is expected to lead the market during the forecast period. The growing developments in automotive sector and the rising demand for electric vehicles in the global market are the major factors which drives the growth of the automotive segment during the forecast period.
The global battery analyzer industry is expected to witness high growth during the forecast period owing to the rising demand for battery power sources in data centers, increasing adoption of battery analyzer in automotive industry, and the growing demand for battery powered consumer devices. In the automotive industry, battery analyzer is being widely used to monitor and measure the voltage, quality factor, and other specifications of batteries of electric vehicles.
According to the International Energy Agency (IEA), as per the sustainable development scenario (SDS), the annual average growth sales of electric cars is anticipated be 36% per annum between 2019 and 2030. Additionally, as per the EV30@30 campaign, launched in 2017, set a collective goal of having the share of 30% for EVs by 2030. This is expected to drive the demand for battery analyzer market during the forecast period. In addition to this, the demand for data centers across the world is expected to grow significantly, and many countries in the world, such as Saudi Arabia, India, and the US, are focusing on the development of data centers. For instance, in Saudi Arabia, in February 2018, Google (US) collaborated with Saudi Arabian Oil Co. to establish a data center. In February 2019, Google (US) announced that it would invest more than USD 13 billion in developing data centers and offices across the US. Therefore, the demand from data centers and the increasing growth in the electric vehicles is expected to create the demand for battery analyzer during the forecast period.
Based on region, the global battery analyzer market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific holds the largest battery analyzer market share due to the growing demand for consumer electronic devices and increasing investments in automotive and telecom industry in the region. The developments in the automotive, IT & telecom, and data centers in the countries such as China, Japan, and India are the major factors which surges the demand for data centers in the Asia-Pacific region. Additionally, the efforts taken by the government bodies and companies for reducing vehicle emissions is creating opportunities for key players to expand their EV business in Asia-Pacific. China contributes a major share in the sales of electric vehicles in the global market as around 1.06 million electric cars were sold in 2019. In India, the Government of India has set targets to accelerate the adoption of EVs with an aim to run all three-wheelers on batteries by 2023 and most two-wheelers by 2025. Initiatives are also being made to make carmakers develop new EV models and manufacture components such as lithium-ion batteries. Moreover, in Japan, Gogoro Inc., a Taiwan-based electric two-wheeler manufacturer, expanded its business in Japan to offer electric two-wheelers. Furthermore, in India, in February 2021, Adani group (India) and EdgeConneX (US) announced to establish a joint venture to develop a network of data centres in India. Such developments are expected to increase the demand for battery analyzer in the automotive and IT & telecom sector in the Asia-Pacific region.
Battery analyzer are used to measure the capacity, voltage, and resistance of batteries. The battery analyzer is designed for testing the batteries with high accuracy, resolution, and speed. It examines the batteries by fully charge it, the measures its capacity by discharging it, and further subsequently recharge the battery.
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Battery Type, End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Fluke Corporation (US), Ametek, Inc. (US), Xiamen Tmax Battery Equipments Limited. (China), HIOKI E.E. CORPORATION (Japan), ACT Meters Ltd (UK), Cadex Electronics Inc. (Canada), Eagle Eye Power Solutions LLC (US), Kussmaul Electronics Co. Inc. (US), Maccor Inc (US), Meco Instruments Pvt. Ltd (India), PulseTech Products Corp. (US), B&K Precision Corporation (US), Bullard (Germany), Energy Storage Instruments (Canada), and Vencon Technologies (Canada).|
|Key Market Opportunities||The Growing Demand for battery powered consumer devices|
|Key Market Drivers||
Battery Analyzer market is predicted to grow at 4% through forecast period of 2022-2030.
The forecast period for Battery Analyzer market research report is 2022-2030.
Global Battery Analyzer Market is dominated by Asia-Pacific region.
The major factors driving the growth of the global battery analyzer market is the rising demand for battery power sources in data centers, increasing adoption of battery analyzer in automotive industry, and the growing demand for battery powered consumer devices.