North America EV Charging Communication Unit

North America EV Charging Communication Unit

According to Tanalyze Analysis, the North America electric vehicle (EV) battery formation and testing market are expected to grow significantly, with a projected compound annual growth rate (CAGR) of 22.0%, reaching USD 431.7 million by 2029. This market segment plays a vital role in developing and improving batteries specifically tailored for electric vehicles (EVs), influencing factors like range and charging speed. Ongoing innovation in battery technologies, including lithium-ion and emerging solid-state batteries, aims to enhance energy density, durability, and cost-effectiveness.

The report delves into the segmentation of the North America EV battery formation and testing market by vehicle type, focusing on passenger cars and commercial vehicles. In 2023, passenger cars dominated this market segment. The increasing adoption of fully electric commercial vehicles globally, aligned with sustainability goals, is driving demand for battery formation and testing services to ensure the reliability of heavy-duty commercial EVs.

The market is further segmented by battery type, with lithium-ion batteries leading the market in 2023. The competitive battery market landscape is pushing companies to deliver cost-effective, high-performance batteries. This growth presents an opportunity for industry transformation, with the segment expected to grow at a CAGR of 22.2% from 2024 to 2029.

Key players shaping the market's dynamics include Emerson Electric Co., ABB Ltd., Rockwell Automation, Inc., Siemens AG, Infineon Technologies AG, Dassault Systèmes SE, Texas Instruments Incorporated, Analog Devices, Inc., SAP SE, General Electric Company, HORIBA, Ltd., TÜV Süd AG, Element Materials Technology, Ltd., AVEVA Group plc, Cognex Corporation, Vicor Corporation, Benning Elektrotechnik und Elektronik GmbH & Co. KG, Mitsubishi Electric Corporation, Chroma ATE Inc., and others.

This study aims to analyze the North America market for various segments of EV battery formation and testing, including:

Vehicle Type: Passenger Cars and Commercial Vehicles.

Application: Manufacturing and Testing.

Battery Type: Lithium-Ion and Other Battery.

Deployment: Cloud-based and On-Premises.

Sourcing: In-house and Outsourcing.

Testing: Transportation and Manufacturing.

Region: USA, Canada, and Mexico.