Electric Vehicle Battery Formation and Testing Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 – 2032

Electric Vehicle Battery Formation and Testing Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 – 2032


The Global Electric Vehicle Battery Formation And Testing Market was valued at USD 1.9 billion in 2023 and is set to expand at a CAGR of over 17.6% from 2024 to 2032. Innovations in battery technologies, including solid-state and advanced lithium-ion batteries, are propelling the market forward. While these batteries boast enhanced energy density, safety, and performance, they necessitate specialized testing and formation systems to guarantee their reliability and durability. This demand for precise and thorough testing methods has spurred investments in state-of-the-art equipment and processes. Furthermore, companies are increasingly leveraging AI, machine learning, and automation to optimize testing, further amplifying the demand for these advanced solutions.

The overall electric vehicle battery formation and testing industry is classified based on battery, component, end-user, electric vehicle, and region.

Segmented by components, the market encompasses formation systems, testing systems, and software solutions. In 2023, the formation systems segment captured over 47% of the market share and is projected to surpass USD 3.4 billion by 2032. Safety concerns arise from heat generation during battery formation, especially with Li-ion batteries. To counter this, modern formation systems are integrating advanced thermal management technologies, ensuring safe operating temperatures during the crucial initial charge-discharge cycles.

Divided by battery type, the market includes solid-state batteries, Li-ion batteries, nickel-metal hydride batteries, and lead-acid batteries. In 2023, Li-ion batteries dominated with a substantial 74% market share. The push for enhanced energy density in lithium-ion batteries is directly extending the driving ranges of electric vehicles (EVs). Innovations like silicon anodes and high-nickel cathodes are pivotal, as they lighten the battery pack and reduce its volume, subsequently boosting vehicle efficiency and performance. Such advancements directly address consumer apprehensions regarding range and the frequency of charging.

In 2023, the Asia Pacific region commanded a market share exceeding 46% and is on track to surpass USD 4 billion by 2032. The region's leadership in the EV battery formation and testing market is largely attributed to China's stature as the world's largest EV market and battery producer. This momentum is further fueled by investments in battery gigafactories and supportive government incentives. Meanwhile, Japan and South Korea are carving their niches through a focus on technological innovations and battery efficiency. Noteworthy trends include the rise of solid-state batteries and a pivot towards localized production.


Report Content
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates & calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market scope & definition
Chapter 2 Executive Summary
2.1 Industry synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Manufacturers
3.1.4 Distributors
3.2 Supplier landscape
3.2.1 Raw material suppliers
3.2.2 EV battery manufacturers
3.2.3 Test equipment manufacturers
3.2.4 Assembly plants
3.2.5 Tier 1 and tier 2 suppliers
3.3 Profit margin analysis
3.4 Price analysis
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Key news & initiatives
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 Technology advancements in battery chemistry
3.9.1.2 Rising electric vehicle adoption
3.9.1.3 Battery safety and reliability requirements
3.9.1.4 Rising EV battery production
3.9.1.5 Rising focus on sustainability and reducing carbon emissions
3.9.2 Industry pitfalls & challenges
3.9.2.1 High initial capital investments
3.9.2.2 Complex battery chemistries
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Component, 2021 - 2032 ($Bn, Units)
5.1 Key trends
5.2 Formation system
5.2.1 Formation chargers
5.2.2 Control system
5.3 Testing system
5.3.1 Battery cyclers
5.3.2 Battery testing equipment
5.3.3 Others
5.4 Software solutions
Chapter 6 Market Estimates & Forecast, By Battery, 2021 - 2032 ($Bn, Units)
6.1 Key trends
6.2 Li-ion
6.3 Soid-state
6.4 Lead-acid
6.5 Nickel-metal hydride
Chapter 7 Market Estimates & Forecast, By Electric Vehicle, 2021 - 2032 ($Bn, Units)
7.1 Key trends
7.2 Battery Electric Vehicles (BEVs)
7.3 Plug-in Hybrid Electric Vehicles (PHEVs)
7.4 Hybrid Electric Vehicles (HEVs)
Chapter 8 Market Estimates & Forecast, By End User, 2021 - 2032 ($Bn, Units)
8.1 Key trends
8.2 Battery manufacturers
8.3 Automotive OEMs
8.4 Third-party testing service providers
8.5 EV charging infrastructure companies
Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn, Units)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Spain
9.3.5 Italy
9.3.6 Russia
9.3.7 Nordics
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 ANZ
9.4.6 Southeast Asia
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Argentina
9.6 MEA
9.6.1 UAE
9.6.2 South Africa
9.6.3 Saudi Arabia
Chapter 10 Company Profiles
10.1 Ador Digatron Pvt. Ltd.
10.2 Analog Devices, Inc.
10.3 Arbin Instruments
10.4 ATEQ Leaktesting
10.5 AVL
10.6 Bitrode Corp.
10.7 Chroma ATE, Inc.
10.8 Cognex Corporation
10.9 Gamry Instruments
10.10 Greenlight Innovations
10.11 Hioki E.E. Corporation
10.12 Hitachi Hi-tech Analytical Science
10.13 HMS Networks
10.14 Horiba
10.15 Illinois Tool Works Inc.
10.16 Keysight Technologies
10.17 Maccor, Inc.
10.18 Manz AG
10.19 Neware Technology Limited
10.20 Siemens
10.21 Tektronix, Inc.
10.22 TUV SUD
10.23 UL LLC

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