Dublin, April 12, 2023 (GLOBE NEWSWIRE) -- The "North America Battery Cyclers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Channel Type, Battery Type, and End User" report has been added to ResearchAndMarkets.com's offering.
The battery cyclers market in North America is expected to grow from US$ 51.49 million in 2022 to US$ 75.02million by 2028.
It is estimated to grow at a CAGR of 6.5% from 2022 to 2028.
Government Initiatives for Development of Efficient Battery Cyclers
Several country governments are taking initiatives to find innovative ways for battery testing. Several government initiatives aimed at reducing the impact of battery disposal on the environment are expected to boost the battery cyclers market. Comprehensive standards that are widely implemented are required to ensure the safety of various products delivered by air.
The International Air Transport Association (IATA) urged the aerospace, consumer electronics, energy & utilities, healthcare, and every sector that uses batteries to adopt and implement the global standards for screening, testing, and incident information sharing for ensuring the safe transportation of lithium batteries.
With a rapid rise in the demand for lithium batteries, many new shippers are entering air cargo supply chains. IATA being one of the biggest air transportation governing organizations, such regulation levied by the authority has to strictly followed which is influencing the growth of the battery testing equipment market, thereby positively impacting driving the battery cyclers market across the region.
Market Overview
North America Battery Cyclers Market Segmentation
The North America 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 North America 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 North America 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 US, Canada, and Mexico. US dominated the market share in 2022.
Market Dynamics
Market Drivers
- Increasing Production and Use of Electric Vehicles
- Government Initiatives for Development of Efficient Battery Cyclers
Market Restraints
- Limited Reliability of Battery Testing
Market Opportunities
- Technological Advancements in Battery Cyclers
- Trends
- Increasing Adoption of Battery Cyclers in Healthcare Sector
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 177 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $51.49 Million |
| Forecasted Market Value (USD) by 2028 | $75.02 Million |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | North America |
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. North America Battery Cyclers Market Landscape
5. North America Battery Cyclers Market - Key Market Dynamics
6. Battery Cyclers Market - North America Analysis
7. North America Battery Cyclers Market Revenue and Forecast to 2028 - Channel Type
8. North America Battery Cyclers Market Revenue and Forecast to 2028 - Battery Type
9. North America Battery Cyclers Market Revenue and Forecast to 2028 - End User
10. North America Battery Cyclers Market - Country Analysis
11. North America Battery Cyclers Market-Industry Landscape
12. Company Profiles
13. Appendix
A selection of companies mentioned in this report includes
- Arbin Instruments
- BioLogic Sciences Instruments
- Bitrode Corporation
- Chroma Systems Solutions, Inc.
- Digatron
- Gamry Instruments
- Hioki E.E. Corporation
- PEC
- Unico, LLC
- Xiamen Tmax Battery Equipments Limited
For more information about this report visit https://www.researchandmarkets.com/r/edyq7w
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
