Market Research Future (MRFR) has published on the “Global Automotive Battery Tester Market”.
The Market is estimated to register a CAGR of 3.30% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Automotive Battery Tester Market— EZRED Co., Fortive Corp., Innova Electronics Corp., Meco Instruments Pvt. Ltd., Midtronics Inc., Milton Industries Inc., MOTOPOWER Inc., OBDSpace Co. Ltd., PulseTech Products Corp., Robert Bosch GmbH, Schumacher Electric Corp., Shenzhen Foxwell Technology Co. Ltd, Shenzhen JiaWei HengXin Technology Co. Ltd., SUNER POWER TECHNOLGO Ltd. and Gamela Enterprise Co. Ltd.
Automotive Battery Tester Highlights
The global Automotive Battery Tester Market is expected to register a CAGR of 3.30% during the forecast period and is estimated to reach USD 1.5 billion by 2032.
Consumers are becoming aware of the significance of checking automobile batteries on a regular basis to ensure overall vehicle health and safety. This is driving the global market for automotive battery testing. Furthermore, as technology changes quickly, there is a risk of early obsolescence, which makes the investment less appealing. To solve this issue and encourage greater usage of modern battery testing solutions, manufacturers and providers must discover ways to offer more cost-effective products and flexible financing options. In addition, the development of new technologies in automotive battery testing has led to improved accuracy and efficiency in diagnosing defects in batteries, which is further fueling the growth of this market.
Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of global Automotive Battery Tester Market
Segment Analysis
The global Automotive Battery Tester Market has been segmented based on Type and Application.
The segmentation of the global automotive battery tester market based on type include integrated battery tester and simple battery tester. The largest market share was held by the simple battery tester category in 2023. Basic tests are inexpensive and simple to use. Small garages and private car owners are among the varied clientele they cater to. They may be used by a variety of audiences because of its easy-to-use design and straightforward functionality.
Application segments the market into OEM And Aftermarket. The aftermarket dominated the market in 2023. The aftermarket market includes battery testers offered separately by third-party companies for use in existing vehicles.
Regional Analysis
The global Automotive Battery Tester Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of the US and Canada. The Europe Automotive Battery Tester Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Automotive Battery Tester Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Automotive Battery Tester Market comprises of Middle East, Africa, and Latin America.
North America is the largest regional market for automotive battery tester, with a share of more than 45.80% by 2023. The presence of significant important players in the region is projected to drive market expansion. Furthermore, the International Energy Agency reported that electric car sales in North America increased by 4% in 2021. It is anticipated that by 2030, over 300 million electric vehicles will be on the roads of the United States. The governments of the United States and Canada, the most populous regions of North America, are likewise encouraging the demand for electric vehicles.
Moreover, Europe's Automotive Battery Tester industry is estimated to rise significantly. The market is being driven by rising demand for batteries in sectors such as automotive, telecommunications, and power generation. The European battery analyzer market is predicted to expand rapidly because of the proliferation of electric vehicles, which require large-capacity batteries. Furthermore, increased demand for renewable energy storage solutions is likely to accelerate market expansion.
Additionally, Asia Pacific is the fastest-growing area in the world market. The region has a high rate of adoption of passenger cars and commercial vehicles. In addition, in numerous Asia Pacific countries, passenger automobiles are employed for short-distance commuting despite heavy traffic congestion. This causes incomplete charging of automobile batteries, which leads to sulfation. Moreover, the majority of automobiles in Asia Pacific are entry-level or mid-level, with batteries that perform only basic operations and require regular maintenance and service.
The rest of the world Automotive Battery Tester Market is segmented into three regions: the Middle East, Africa, and Latin America. The demand for battery testing equipment from various end-use sectors is increasing as numerous nations in these regions experience rapid economic growth.
Key Findings of the Study
- The global Automotive Battery Tester Market is expected to reach USD 1.5 billion by 2032, at a CAGR of 3.30% during the forecast period.
- Asia Pacific is the fastest-growing area in the world market. The region has a high rate of adoption of passenger cars and commercial vehicles.
- By application, the aftermarket category dominated the market in 2023.
- EZRED Co., Fortive Corp., Innova Electronics Corp., Meco Instruments Pvt. Ltd., Midtronics Inc., Milton Industries Inc., MOTOPOWER Inc., OBDSpace Co. Ltd., PulseTech Products Corp., Robert Bosch GmbH, Schumacher Electric Corp., Shenzhen Foxwell Technology Co. Ltd, Shenzhen JiaWei HengXin Technology Co. Ltd., SUNER POWER TECHNOLGO Ltd. and Gamela Enterprise Co. Ltd. are key market players.
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Companies Covered | 15 |
Pages | 128 |
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