The Europe battery testing equipment market is expected to grow from US$ 110.33 million in 2019 to US$ 153.75 million by 2027; it is estimated to grow at a CAGR of 4.3 % from 2020 to 2027. Increasing demand for transportation across Europe escalates the market growth. On account of the benefits offered by battery testing equipment, the market has witnessed growing demand from numerous end-use industries—such as automotive. For instance, battery testing equipment can test discharged batteries, assess various kinds of batteries manufactured, and assist in offering enhanced safety to users. As increasing number of batteries is being incorporated in vehicles, rise in automobile production is directly proportional to the growth of the Europe battery testing equipment market. Due to the increasing disposable income of people in European countries, the demand for vehicles has increased. Factors such as increasing investments by prominent vehicle manufacturing companies and favorable government norms regarding vehicle manufacturing across Europe drive the growth of the battery testing equipment market in the region. Further, initiatives undertaken by the governments of countries to expand its automotive industry drive the market growth. Additionally, the increasing development of electric vehicles and green vehicles across the region is expected to drive the growth of the Europe battery testing equipment market during the forecast period.
Countries in Europe, especially the UK, are highly affected due to the COVID-19 pandemic.The region is suffering an economic hit due to a lack of revenue from various industries, as countries such as the UK, Germany, and Italy recorded the highest number of COVID-19 confirmed cases.
Additionally, with the outbreak of another variant of COVID-19 in the UK, the battery testing equipment market is hampered.Europe is a significant manufacturing and industrial hub for sectors such as healthcare, aviation, manufacturing, automotive, energy and power, and others.
However, due to the outbreak, many businesses in Europe face financial challenges as they had to reduce their activities substantially owing to the lack of human resources, government-imposed restrictions, and decreasing sales. However, the increasing initiatives undertaken by the governments of countries such as the UK, Sweden, and Germany to develop urban air mobility infrastructure in the countries are expected to provide growth opportunities to the market in the coming years.
Based on application, the cell testing segment led the Europe battery testing equipment market in 2019.The cell testing is usually performed on batteries used across smart battery pulse charging, EV drive profiles, and other custom charging/discharging regimes, which have a voltage rating of up to 10V.
The cell stress tests are performed to evaluate the response to different stresses such as electrical, environmental, and mechanical.The cell testing is performed to provide a long-term battery life cycle and simulate complex real-world test profiles.
Moreover, the cell tester is designed for performing a test on Lithium-ion batteries, electrical double-layer capacitors (EDLC), and Lithium-ion capacitors (LIC). For instance, Chroma Systems Solutions, Inc. designs 17216M 16 channel battery cell tester that consists of Chroma’s powerful battery pro programmable charge/discharge test system software, which allows the full configuration with statistics and reporting capability. Several advantages of cell testing such as more accuracy, programmable testing, and evaluation of different stresses are expected to drive the Europe battery testing equipment market for the cell testing segment during the forecast period.
The overall Europe battery testing equipment market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the Europe battery testing equipment market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The 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 Europe battery testing equipment market. Arbin Instruments; CHAUVIN ARNOUX; Chroma Systems Solutions, Inc.; DV POWER; Megger Group Limited; Midtronics, Inc.; and Xiamen Tmax Battery Equipments Limited are among the players operating in the market.
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By Asia Market Information & Development Company
• Jun 2021
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