Battery Cyclers Market Report 2024

The battery cyclers market size has grown rapidly in recent years. It will grow from $0.6 billion in 2023 to $0.69 billion in 2024 at a compound annual growth rate (CAGR) of 14.2%. The increase during the historical period can be attributed to the expansion of electric vehicles (EVs), the growth of renewable energy, the boom in consumer electronics, advancements in research and development, and the adoption of industrial automation.

The battery cyclers market size is expected to see rapid growth in the next few years. It will grow to $1.18 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The projected growth in the upcoming period can be linked to heightened emphasis on sustainability and reducing carbon footprints, expanding markets for electric scooters, e-bikes, and other electric vehicles, growing demand for battery cyclers to ensure reliability and performance, and increasing integration of renewable energy sources. Key trends expected in the forecast period include advancements in data analytics, precise control systems, greater adoption of automation and robotics, integration with AI and machine learning, and advancements in simulating fast-charging scenarios.

The expansion of the electric vehicle (EV) industry is poised to drive the growth of the battery cyclers market in the foreseeable future. Electric vehicles (EVs) are vehicles powered by electric motors that utilize energy stored in batteries or other storage devices. The increasing demand for EVs stems from their environmental advantages, such as reduced emissions and economic incentives, as well as advancements in battery technology and supportive governmental policies. Battery cyclers play a crucial role in advancing EV technology by ensuring that batteries undergo rigorous testing and validation, meeting stringent standards for reliability, performance, and safety required by consumers and the automotive sector. For example, in April 2024, the International Energy Agency reported a significant increase in EV sales, with 3.5 million units sold in 2023 compared to 2022, marking a 35% annual growth. This growth underscores how the burgeoning EV industry is directly contributing to the expansion of the battery cyclers market.

Leading companies in the battery cyclers market are concentrating on advancing innovative products, particularly in battery testing technology, to enhance the precision, efficiency, and dependability of assessing battery performance across diverse industries. Battery testing technology encompasses a range of methods, techniques, and equipment used to evaluate battery performance, reliability, safety, and longevity. These technologies incorporate various testing protocols aimed at simulating real-world conditions to ensure batteries meet stringent standards and operational requirements. For example, in April 2024, BioLogic, a France-based company known for its advancements in pharmaceuticals, unveiled the BCS-900 series of battery cyclers, representing a significant leap in battery testing technology. This system integrates high-performance capabilities with a user-centric design and incorporates the innovative BT-Lab software suite. Engineered to cater to multiple facets of the battery industry, including research and development, pilot production, and quality control testing, the BCS-900 series establishes new benchmarks in versatility and functionality.

In August 2023, Schuler AG, a German company specializing in systems for sheet metal forming, acquired Bitrode Corporation for an undisclosed sum. This acquisition is part of Schuler's strategy to bolster its technological prowess and broaden its market footprint in battery testing and production equipment. Bitrode Corporation, based in the United States, is renowned for manufacturing battery cyclers and testing equipment.

Major companies operating in the battery cyclers market are WonATech Co. Ltd., Unico LLC, HIOKI E.E. CORPORATION, Neware Technology Limited, Bitrode Corporation, Solartron Analytical, DIGATRON Industrie-Elektronik GmbH, Maccor Inc., Amtest Electro Kft., Arbin Instruments, Chroma ATE Inc., Gamry Instruments, NH Research Inc., Aralab S.L., BioLogic Science Instruments SAS, Xiamen Tmax Battery Equipments Limited, Battery Associates Inc., Ivium Technologies BV, CH Instruments Inc., Petrotest Instruments.

North America was the largest region in the battery cyclers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the battery cyclers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the battery cyclers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Battery cyclers are specialized devices designed for testing and assessing battery performance by subjecting them to repeated charge and discharge cycles. These tools play a crucial role in evaluating the longevity, capacity, efficiency, and overall condition of batteries. They are extensively utilized in research, development, and quality control across a wide range of battery types, including those found in consumer electronics, electric vehicles, and energy storage systems.

The primary categories of battery cyclers include lithium-ion, lead-acid, nickel-based batteries, and others. Lithium-ion (Li-ion) technology, for instance, revolves around equipment specifically engineered to test and cycle batteries that are prevalent in consumer electronics, electric vehicles, and energy storage systems. Testing services encompass cell testing, module testing, and pack testing, with applications spanning research and end-of-line testing. Battery cyclers find application across diverse industries such as automotive and transportation, consumer electronics, energy and utilities, industrial sectors, as well as in educational and research settings, among others.

The battery cyclers market research report is one of a series of new reports that provides battery cyclers market statistics, including battery cyclers industry global market size, regional shares, competitors with a battery cyclers market share, detailed battery cyclers market segments, market trends, and opportunities, and any further data you may need to thrive in the battery cyclers industry. This battery cyclers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The battery cyclers market consists of revenues earned by entities by installation and setup, custom test development, calibration, and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. The battery cyclers market also includes sales of rack-mounted battery cyclers, desktop battery cyclers, high-current battery cyclers, and multi-channel battery cyclers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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