Impact of COVID-19 Pandemic on Battery Testing Equipment Market
The segments and sub-section of Battery Testing Equipment market are shown below: The stationery battery testing follows IEEE 450, IEEE 1188, and IEEE 1106 standards to offer efficient battery maintenance. The stationary battery testing equipment segment dominates the market as it ensures the battery’s continuous and efficient operation to facilitate a good battery maintenance program.
As increasing number of batteries are being incorporated in vehicles, rise in automobile production is directly proportional to the growth of the battery testing equipment market.īased on product type, the battery testing equipment market is bifurcated into portable battery testing equipment and stationary battery testing equipment. For instance, battery testing equipment can test discharged batteries, assess various kinds of batteries manufactured, and assist in offering enhanced safety to users. On account of the benefits offered by battery testing equipment, they have witnessed growing demand from numerous end-use industries such as automotive. Growing Demand for Transportation Fuels Growth of Battery Testing Equipment Market Leading Battery Testing Equipment Market Players:īattery Testing Equipment Market Insights Rising procurement of advanced batteries by the US Army is also supporting the market growth.
Companies present in countries such as the US, France, Sweden, and the UK are developing advanced battery testing equipment for the global market. Various industries such as aerospace and defense, automotive, and healthcare are heavily investing in advanced technologies to strengthen their capabilities with advanced machineries and offer enhanced services to customers. The battery testing equipment market was valued at US$ 452.40 million in 2019 and is projected to reach US$ 653.71 million by 2027 it is expected to grow at a CAGR of 4.7% from 2020 to 2027.