Battery Cyclers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Channel Type (16, 8, and 4), Battery Type, and End User (Aerospace, Energy & Power, Automotive, Consumer Electronics, and Others

List of Tables

The battery cyclers market size is expected to grow from US$ 208.14 million in 2022 to US$ 298.20 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2022 to 2028.

The popularity of electric vehicles (EVs) has significantly grown in recent years with the continuous maturation of the technology. Furthermore, increasing concerns about car emissions across the globe coupled with the rise in depletion rate of nonrenewable energy resources have prompted government bodies across both developed and developing countries to invest in the expansion of electric vehicle manufacturing. European countries are among the early adopters of electric mobility. According to the European Environment Agency, in 2020, electric vehicles accounted for 11% [6% battery electric vehicles (BEVs) and 5% plug-in hybrid electric vehicles (PHEVs)] of the newly registered passenger cars. The global production and sales of electric vehicles are increasing rapidly owing to favorable legislative measures such as subsidies and tax breaks for both manufacturers and consumers in different countries across regions such as North America, Europe, and Asia Pacific. These factors are thereby driving the manufacturers to increase their electric vehicle production, thus boosting the growth of the global battery cyclers market growth.

Many countries, including Canada, have set objectives for reducing vehicle emission levels. They have begun promoting the production and marketing of electric vehicles and related charging infrastructure. Norway and Germany are heavily investing in electric vehicle sales promotion. The UAE, China, India, Saudi Arabia, Chile, Brazil, and Russia are making contractual alliances to ramp up electric car production within their territories. Germany, France, the UK, Canada, South Korea, Japan, Sweden, the Netherlands, and Norway also experienced a surge in electric car registration amid the COVID-19 pandemic. According to IEA, about 3 million new electric cars were registered in 2020 across the globe. Europe led the electric car registrations with 1.4 million new electric car registrations, while China and the US followed with 1.2 million and 295,000 registrations, respectively. Such a surge in the production and use of electric vehicles is bolstering the growth of the battery cyclers market.

Impact of COVID-19 Pandemic on Asia Pacific Battery Cyclers Market

China, Japan, and India, among others, have large industrial bases, a positive economic outlook, and favorable government policies, which provide immense growth opportunities for the battery cyclers market. However, the COVID-19 pandemic has adversely affected various sectors in Asia Pacific during Q2 and Q3 of 2020. According to the National Statistical Office (NSO) data, the manufacturing sector output declined by 20.6% in May 2020 compared to its 3.1% rise in May 2019; this drop can be ascribed to travel restrictions, manufacturing plant shutdowns, raw material unavailability, and workforce limitations.

Asia Pacific is a prime manufacturer of consumer electronics and EVs. The emergence of the COVID-19 pandemic across countries in the region resulted in a loss in revenue due to a temporary shutdown of manufacturing facilities. However, the demand for battery cyclers among the end users continued to surge after industries resumed their businesses at the end of Q3 of 2020. Owing to significantly large manufacturing hubs in China, Taiwan, India, Japan, and South Korea, the battery cyclers market players observed higher demand for their products. The trend of revenue generation continued at a faster pace in 2021 compared to 2020.

Canada accounted for the second-largest North American battery cyclers market share in 2021. The country houses many manufacturing plants within its boundaries. The continuously growing number of manufacturing facilities over the years in the country will showcase the rise in battery-powered devices, which will further fuel the growth of the battery cyclers market. Additionally, the country also witnesses imprints of companies offering battery cyclers. Similarly, in August 2023, Volkswagen and Mercedes-Benz, US and German-based legacy automakers, sealed agreements with the Canadian government to acquire raw materials for EV battery manufacturing at their US-based facilities. However, the production of electric vehicles, buses, and trucks is in its initial stages in Canada as the country is an exporter of raw materials. Further, Canada is a part of a few of the world's largest and most significant automotive markets because of NAFTA and the free trade agreement of the country with the EU, which will directly impact the production of batteries, thereby stimulating the growth of the battery cyclers market.

Asia Pacific is expected to register the highest CAGR in the battery cyclers market during the forecast period. Based on country, the Asia Pacific battery cyclers market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. In 2022, India is expected to be accounted for the second-largest battery cyclers market share in Asia Pacific.

India has planned to provide US$ 4.6 billion by 2030 in incentives to businesses, which are likely to set up an innovative battery manufacturing facility since it seeks to promote the use of electric vehicles. An increase in electric vehicles is growing in India. Electric vehicles give zero tailpipe emissions while lowering air pollution in the environment; as a result, the sales of electric vehicles have increased. For instance, in August 2022, the Ministry of Heavy Industries signed contracts with Ola Electric, Reliance New Energy Ltd, and Rajesh Exports under the Production-Linked Incentive (PLI) Scheme for advanced cell chemistry (ACC) battery manufacturing. This will boost the production of batteries, which will encourage the manufacturers of battery cyclers to test their lifecycle and other aspects. Further, India is a hub for large consumer electronics manufacturing units, which is boosting the production of different electronic components, such as batteries. With the growing manufacturing of batteries, the growth of battery cyclers will rise.

BioLogic Sciences Instruments; Unico, LLC; Bitrode Corporation; Chroma Systems Solutions, Inc; HIOKI E.E. CORPORATION; Arbin Instruments; DIGATRON; PEC; Xiamen Tmax Battery Equipments Limited; and Gamry Instruments are among the leading battery cyclers market players.

The overall battery cyclers market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the battery cyclers market. The process also serves the purpose of obtaining an overview and market forecast of the battery cyclers market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the battery cyclers market.

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Product Code: TIPRE00029730

1. Introduction

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Battery Cyclers Market Landscape

4.1 Market Overview
4.2 PEST Analysis
- 4.2.1 North America
- 4.2.2 Europe
- 4.2.3 APAC
- 4.2.4 MEA
- 4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. Battery Cyclers Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Increasing Production and Use of Electric Vehicles
- 5.1.2 Government Initiatives for Development of Efficient Battery Cyclers
5.2 Market Restraints
- 5.2.1 Limited Reliability of Battery Testing
5.3 Market Opportunities
- 5.3.1 Technological Advancements in Battery Cyclers
5.4 Trends
- 5.4.1 Increasing Adoption of Battery Cyclers in Healthcare Sector
5.5 Impact Analysis of Drivers and Restraints

6. Battery Cyclers Market - Global Analysis

6.1 Global Battery Cyclers Market Overview
6.2 Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Five Key Players

7. Battery Cyclers Market Revenue and Forecast to 2028 - Channel Type

7.1 Overview
7.2 Battery Cyclers Market, By Channel Type (2021 And 2028)
7.3
- 7.3.1 Overview
- 7.3.2: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)
7.4 8
- 7.4.1 8: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)
7.5 4
- 7.5.1 4: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)

8. Battery Cyclers Market Revenue and Forecast to 2028 - Battery Type

8.1 Overview
8.2 Battery Cyclers Market, By Battery Type (2021 And 2028)
8.3 Lead Acid
- 8.3.1 Overview
- 8.3.2 Lead Acid: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)
8.4 Nickel Cadmium (NiCd) Batteries
- 8.4.1 Overview
- 8.4.2 Nickel Cadmium (NiCd) Batteries: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)
8.5 Nickel -Metal Hydride (NiMh) Batteries
- 8.5.1 Overview
- 8.5.2 Nickel -Metal Hydride (NiMh) Batteries: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)
8.6 Lithium-Ion (Li-Ion) Batteries
- 8.6.1 Overview
- 8.6.2 Lithium-Ion (Li-Ion) Batteries: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)

9. Battery Cyclers Market Revenue and Forecast to 2028 - End User

9.1 Overview
9.2 Battery Cyclers Market, By End User (2021 And 2028)
9.3 Aerospace
- 9.3.1 Overview
- 9.3.2 Aerospace: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)
9.4 Energy & Power
- 9.4.1 Overview
- 9.4.2 Energy & Power: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)
9.5 Automotive
- 9.5.1 Overview
- 9.5.2 Automotive: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)
9.6 Consumer Electronics
- 9.6.1 Overview
- 9.6.2 Consumer Electronics: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)
9.7 Others
- 9.7.1 Overview
- 9.7.2 Others: Battery Cyclers Market Revenue and Forecast To 2028 (US$ Million)

10. Battery Cyclers Market - Geographic Analysis

10.1 Overview
10.2 North America: Battery Cyclers Market
- 10.2.1 North America: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
- 10.2.2 North America: Battery Cyclers Market, By Channel Type
- 10.2.3 North America: Battery Cyclers Market, By Battery Type
- 10.2.4 North America: Battery Cyclers Market, By End-User
- 10.2.5 North America: Battery Cyclers Market, By Country
  - 10.2.5.1 US: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.2.5.1.1 US: Battery Cyclers Market, By Channel Type
    - 10.2.5.1.2 US: Battery Cyclers Market, By Battery Type
    - 10.2.5.1.3 US: Battery Cyclers Market, By End-User
  - 10.2.5.2 Canada: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.2.5.2.1 Canada: Battery Cyclers Market, By Channel Type
    - 10.2.5.2.2 Canada: Battery Cyclers Market, By Battery Type
    - 10.2.5.2.3 Canada: Battery Cyclers Market, By End-User
  - 10.2.5.3 Mexico: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.2.5.3.1 Mexico: Battery Cyclers Market, By Channel Type
    - 10.2.5.3.2 Mexico: Battery Cyclers Market, By Battery Type
    - 10.2.5.3.3 Mexico: Battery Cyclers Market, By End-User
10.3 Europe: Battery Cyclers Market
- 10.3.1 Europe: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
- 10.3.2 Europe: Battery Cyclers Market, By Channel Type
- 10.3.3 Europe: Battery Cyclers Market, By Battery Type
- 10.3.4 Europe: Battery Cyclers Market, By End-User
- 10.3.5 Europe: Battery Cyclers Market, By Country
  - 10.3.5.1 Germany: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.1.1 Germany: Battery Cyclers Market, By Channel Type
    - 10.3.5.1.2 Germany: Battery Cyclers Market, By Battery Type
    - 10.3.5.1.3 Germany: Battery Cyclers Market, By End-User
  - 10.3.5.2 France: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.2.1 France: Battery Cyclers Market, By Channel Type
    - 10.3.5.2.2 France: Battery Cyclers Market, By Battery Type
    - 10.3.5.2.3 France: Battery Cyclers Market, By End-User
  - 10.3.5.3 Italy: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.3.1 Italy: Battery Cyclers Market, By Channel Type
    - 10.3.5.3.2 Italy: Battery Cyclers Market, By Battery Type
    - 10.3.5.3.3 Italy: Battery Cyclers Market, By End-User
  - 10.3.5.4 UK: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.4.1 UK: Battery Cyclers Market, By Channel Type
    - 10.3.5.4.2 UK: Battery Cyclers Market, By Battery Type
    - 10.3.5.4.3 UK: Battery Cyclers Market, By End-User
  - 10.3.5.5 Russia: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.5.1 Russia: Battery Cyclers Market, By Channel Type
    - 10.3.5.5.2 Russia: Battery Cyclers Market, By Battery Type
    - 10.3.5.5.3 Russia: Battery Cyclers Market, By End-User
  - 10.3.5.6 Rest of Europe: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.3.5.6.1 Rest of Europe: Battery Cyclers Market, By Channel Type
    - 10.3.5.6.2 Rest of Europe: Battery Cyclers Market, By Battery Type
    - 10.3.5.6.3 Rest of Europe: Battery Cyclers Market, By End-User
10.4 APAC: Battery Cyclers Market
- 10.4.1 APAC: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
- 10.4.2 APAC: Battery Cyclers Market, By Channel Type
- 10.4.3 APAC: Battery Cyclers Market, By Battery Type
- 10.4.4 APAC: Battery Cyclers Market, By End-User
- 10.4.5 APAC: Battery Cyclers Market, By Country
  - 10.4.5.1 China: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.1.1 China: Battery Cyclers Market, By Channel Type
    - 10.4.5.1.2 China: Battery Cyclers Market, By Battery Type
    - 10.4.5.1.3 China: Battery Cyclers Market, By End-User
  - 10.4.5.2 India: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.2.1 India: Battery Cyclers Market, By Channel Type
    - 10.4.5.2.2 India: Battery Cyclers Market, By Battery Type
    - 10.4.5.2.3 India: Battery Cyclers Market, By End-User
  - 10.4.5.3 Japan: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.3.1 Japan: Battery Cyclers Market, By Channel Type
    - 10.4.5.3.2 Japan: Battery Cyclers Market, By Battery Type
    - 10.4.5.3.3 Japan: Battery Cyclers Market, By End-User
  - 10.4.5.4 South Korea: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.4.1 South Korea: Battery Cyclers Market, By Channel Type
    - 10.4.5.4.2 South Korea: Battery Cyclers Market, By Battery Type
    - 10.4.5.4.3 South Korea: Battery Cyclers Market, By End-User
  - 10.4.5.5 Australia: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.5.1 Australia: Battery Cyclers Market, By Channel Type
    - 10.4.5.5.2 Australia: Battery Cyclers Market, By Battery Type
    - 10.4.5.5.3 Australia: Battery Cyclers Market, By End-User
  - 10.4.5.6 Rest of APAC: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.4.5.6.1 Rest of APAC: Battery Cyclers Market, By Channel Type
    - 10.4.5.6.2 Rest of APAC: Battery Cyclers Market, By Battery Type
    - 10.4.5.6.3 Rest of APAC: Battery Cyclers Market, By End-User
10.5 MEA: Battery Cyclers Market
- 10.5.1 MEA: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
- 10.5.2 MEA: Battery Cyclers Market, By Channel Type
- 10.5.3 MEA: Battery Cyclers Market, By Battery Type
- 10.5.4 MEA: Battery Cyclers Market, By End-User
- 10.5.5 MEA: Battery Cyclers Market, By Country
  - 10.5.5.1 South Africa: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.5.5.1.1 South Africa: Battery Cyclers Market, By Channel Type
    - 10.5.5.1.2 South Africa: Battery Cyclers Market, By Battery Type
    - 10.5.5.1.3 South Africa: Battery Cyclers Market, By End-User
  - 10.5.5.2 Saudi Arabia: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.5.5.2.1 Saudi Arabia: Battery Cyclers Market, By Channel Type
    - 10.5.5.2.2 Saudi Arabia: Battery Cyclers Market, By Battery Type
    - 10.5.5.2.3 Saudi Arabia: Battery Cyclers Market, By End-User
  - 10.5.5.3 UAE: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.5.5.3.1 UAE: Battery Cyclers Market, By Channel Type
    - 10.5.5.3.2 UAE: Battery Cyclers Market, By Battery Type
    - 10.5.5.3.3 UAE: Battery Cyclers Market, By End-User
  - 10.5.5.4 Rest of MEA: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.5.5.4.1 Rest of MEA: Battery Cyclers Market, By Channel Type
    - 10.5.5.4.2 Rest of MEA: Battery Cyclers Market, By Battery Type
    - 10.5.5.4.3 Rest of MEA: Battery Cyclers Market, By End-User
10.6 SAM: Battery Cyclers Market
- 10.6.1 SAM: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
- 10.6.2 SAM: Battery Cyclers Market, By Channel Type
- 10.6.3 SAM: Battery Cyclers Market, By Battery Type
- 10.6.4 SAM: Battery Cyclers Market, By End-User
  - 10.6.4.1 SAM: Battery Cyclers Market, By Country
  - 10.6.4.2 Brazil: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.6.4.2.1 Brazil: Battery Cyclers Market, By Channel Type
    - 10.6.4.2.2 Brazil: Battery Cyclers Market, By Battery Type
    - 10.6.4.2.3 Brazil: Battery Cyclers Market, By End-User
  - 10.6.4.3 Argentina: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.6.4.3.1 Argentina: Battery Cyclers Market, By Channel Type
    - 10.6.4.3.2 Argentina: Battery Cyclers Market, By Battery Type
    - 10.6.4.3.3 Argentina: Battery Cyclers Market, By End-User
  - 10.6.4.4 Rest of SAM: Battery Cyclers Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.6.4.4.1 Rest of SAM: Battery Cyclers Market, By Channel Type
    - 10.6.4.4.2 Rest of SAM: Battery Cyclers Market, By Battery Type
    - 10.6.4.4.3 Rest of SAM: Battery Cyclers Market, By End-User

11. Battery Cyclers Market- COVID-19 Impact Analysis

11.1 Overview
11.2 North America
11.3 Europe
11.4 Asia Pacific
11.5 Middle East and Africa
11.6 South America

12. Battery Cyclers Market-Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 New Product Launch

13. Company Profiles

13.1 BioLogic Sciences Instruments
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Unico, LLC
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Bitrode Corporation
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Chroma Systems Solutions, Inc.
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Arbin Instruments
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 DIGATRON
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 PEC
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Xiamen Tmax Battery Equipments Limited
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 HIOKI E.E. CORPORATION
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Gamry Instruments
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners
14.2 Word Index