The battery cyclers market in APAC is expected to grow from US$ 57.29 million in 2022 to US$ 91.79 million by 2028. It is estimated to grow at a CAGR of 8.2% from 2022 to 2028.
Increasing Adoption of Battery Cyclers in Healthcare Sector
During the COVID-19 pandemic, the demand for diagnostic equipment, ventilators, and other critical care devices has increased worldwide. Lithium batteries are the preferred choice for both primary and backup energy sources in implanted and portable devices due to their long life and high energy density. Monitors; tools such as surgical drills and robots; and vital devices such as defibrillators, transport ventilators, and heart and lung machines need batteries. Therefore, prominent battery testing companies are offering continuous support and services in response to the growing demand in the healthcare sector. According to a survey by the FDA, poor battery conditions lead to equipment malfunctions which mat adversely impact the patient’s conditions. As battery failures in hospitals may lead to critical conditions, most of the underperforming batteries are discarded even when they are still usable. Comprehensive testing and easily accessible maintenance information are required to minimize wastage while assuring the optimum functioning of battery-powered devices when needed. Therefore, continuous testing and maintenance are required to reduce battery wastage and ensure battery and equipment safety. Hence, the growing demand for medical equipment and the need to reduce battery wastage is expected to boost the demand for battery cyclers in the coming years. Manufacturers of battery cyclers and other testing equipment can utilize high-resolution technologies to detect the slightest changes in battery performance during the testing. Thus, regular testing and maintenance are essential to reduce battery waste and assure the safety of batteries used in medical devices, which drives the growth of the battery cyclers market.
Market Overview
Automotive, aerospace, machinery, and consumer electronics are among the major manufacturing industries in APAC. The automotive industry and consumer electronics industry in each of the APAC countries contribute ~7% and ~10%, respectively to the country’s GDP. Further, the automotive industry in the region is the largest private investor in R&D, and it receives support from governments in the form of R&D funds. The car manufacturers in APAC countries such as Volkswagen, Volvo, Audi, and BMW are investing in the production of EVs, which will drive the demand for batteries. Moreover, the industries in countries under APAC Union is experiencing growth based on the quantity of lithium-ion batteries that are recycled every year. A battery cycler is a vital instrument for both research and testing of rechargeable batteries. Thus, the above factors are likely to boost the battery cyclers market during the forecast period.
APAC Battery Cyclers Market Revenue and Forecast to 2028 (US$ Million)
APAC Battery Cyclers Market Segmentation
The APAC battery cyclers market is segmented into channel type, battery type, end user and country. Based on channel type, the market is segmented into 16, 8, and 4. The 8 segment registered the largest market share in 2022.
Based on battery type, the APAC battery cyclers market is segmented into lead acid, nickel-cadmium batteries, nickel-metal hydride batteries, and lithium-ion batteries. The lithium-ion batteries segment registered the largest market share in 2022.
Based on end user, the APAC battery cyclers market is segmented into aerospace, energy and power, automotive, consumer electronics and others. The consumer electronics segment registered the largest market share in 2022.
Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. China dominated the market share in 2022.
Arbin Instruments; BioLogic Sciences Instruments; Bitrode Corporation; Chroma Systems Solutions, Inc.; Digatron; Gamry Instruments; Hioki E.E. Corporation; PEC; Unico, LLC; and Xiamen Tmax Battery Equipments Limited are the leading companies operating in the battery cyclers market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 57.29 Million |
| Market Size by 2028 | US$ 91.79 Million |
| CAGR (2022 - 2028) | 8.2% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Channel Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia-Pacific Battery Cyclers Market is valued at US$ 57.29 Million in 2022, it is projected to reach US$ 91.79 Million by 2028.
As per our report Asia-Pacific Battery Cyclers Market, the market size is valued at US$ 57.29 Million in 2022, projecting it to reach US$ 91.79 Million by 2028. This translates to a CAGR of approximately 8.2% during the forecast period.
The Asia-Pacific Battery Cyclers Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Battery Cyclers Market report:
The Asia-Pacific Battery Cyclers Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Battery Cyclers Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Battery Cyclers Market value chain can benefit from the information contained in a comprehensive market report.
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