Battery Testing and Inspection Equipment Market Size

Battery Testing & Inspection Equipment Market Analysis

The Battery Testing and Inspection Equipment Market is expected to register a CAGR of 4.7% during the forecast period. Safety is an essential aspect of the testing process since it mitigates reliability risks for the device. Batteries power many devices and technologies consumers depend upon daily, from smartphones and tablets to electric vehicles. For this purpose, batteries must undergo rigorous testing before coming to the market.

• Testing batteries in high temperatures help to determine at what point they combust, melt, create thermal tensions, and perform. Companies in this sphere conduct battery testing to ensure safety and set consumer expectations.
• The market demand for electric vehicles continues to increase around the world. Electric cars are propelled by large motors powered by a rechargeable onboard battery system. Lithium-ion batteries remain the dominant choice for electric vehicle production.
• The Indian government, in July 2022, stated that in the middle of increasing instances of fires in EVs getting reported from parts of the country, the government had stepped in with a plan to formulate procedures for battery testing, certification, and quality control. The committee will ensure to suggest ways for the excellent quality of the product. Manufacturers must develop SOPs to test and validate crucial components and formulate a testing and certification standard for EV batteries.
• India's Union government is on the verge of releasing standards for electric vehicle batteries after more than a dozen recent incidents of electric scooters catching fire, resulting in at least five deaths. The policy will cover performance testing, manufacturing standards, and battery heat resistance. According to the Union government on April 2022, decarbonizing transport and the transition to clean mobility, led by EVs, is paramount, thus driving the demand for the battery testing and inspection equipment market.
• The National Battery Testing Centre At The Queensland University Of Technology, including USD 15 million in funding, tests multiple sizes and types of battery systems in real-world conditions for Australian applications.
• All businesses globally with crucial assets for manufacturing goods and services have experienced a rapid decline due to the pandemic. The management of such companies has been under extreme urgency and panic, putting more emphasis on cutting costs. Since manufacturing activity is low, companies got tempted to eliminate maintenance, resulting in high prices in the coming future. Due to the COVID-19 pandemic, the global supply chain and demand for battery testing and inspection equipment were disrupted, severely impacting market adoption. Due to the production shutdown, countries globally have observed a shortage of battery testing and inspection equipment during the pandemic.