Europe Battery Testing Equipment Market to Grow at a CAGR of 4.3% to reach US$ 153.75 Million from 2020 to 2027

The Europe battery testing equipment market is expected to grow from US$ 110.33 million in 2019 to US$ 153.75 million by 2027; it is estimated to grow at a CAGR of 4.3 % from 2020 to 2027.

The UK, Germany, Italy, France, and Russia are major economies in Europe. Rising defense expenditure is expected to escalate the Europe battery testing equipment market. The rising defense expenditure in European countries has led to increase in the adoption of battery testing equipment in the military sector. European countries with high GDP Denmark, Germany, and Norway, among others—are vigorously carrying out large-scale industrialization and infrastructure developments. The increasing defense expenditure supports the growth of the Europe battery testing equipment market in such countries. Moreover, increasing development of advanced battery systems for commercial and military aircraft and rising adoption of electric aircraft technology in commercial aircraft are further expected to bolster the Europe market growth. Various aircraft battery manufacturers are developing advanced battery systems that can assist in reducing emissions. Thus, the growing adoption of batteries by the aerospace and military sectors is expected to increase the demand for battery testing equipment across Europe region, which will drive the Europe battery testing equipment market.

Further, in case of COVID-19, Europe is highly affected, specially the UK, which is the hardest-hit country by the outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries, as countries such as the UK, Germany, and Italy recorded the highest number of coronavirus cases. Additionally, with the outbreak of another variant of COVID-19 in the UK, the battery testing equipment market is expected to get hampered. The region is a significant manufacturing and industrial hub for sectors such as healthcare, aviation, manufacturing, automotive, energy and power, and others. However, due to COVID-19, many businesses in Europe face financial challenges as they had to reduce their activities substantially, owing to lack of workforce, government-imposed restrictions, and decreasing sales. However, with the increasing initiatives undertaken by the governments of countries such as the UK, Sweden, and Germany to develop urban air mobility infrastructure in the countries is expected to provide growth opportunities to the market in the coming years.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe battery testing equipment market. The Europe battery testing equipment market is expected to grow at a good CAGR during the forecast period.

Europe Battery Testing Equipment Market Segmentation

Europe Battery Testing Equipment Market – By Product Type

• Portable Battery Testing Equipment
• Stationary Battery Testing Equipment

Europe Battery Testing Equipment Market – By Application

• Module Testing
• Cell Testing
• Pack Testing

Europe Battery Testing Equipment Market – By End-User

• Automotive
• Electronics and Semiconductor   
• Telecom
• Healthcare
• Energy and Utility
• Others

Europe Battery Testing Equipment Market, by Country

• UK
• Germany
• France
• Italy
• Russia
• Rest of Europe  

Europe Battery Testing Equipment Market -Companies Mentioned

• Arbin Instruments
• CHAUVIN ARNOUX
• Chroma Systems Solutions, Inc.
• DV POWER
• Megger Group Limited
• Midtronics, Inc.                 
• Xiamen Tmax Battery Equipments Limited

Europe Battery Testing Equipment Market Report Scope