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 RD 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.
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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.
RD 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:
- 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.
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