Asia-pacific Battery Testing Equipment Market Forecast 2021-2028
The Asia-Pacific battery testing equipment market is predicted to grow with a CAGR of 5.20% during the forecasted years. The regional market’s growth is primarily credited to key drivers such as the expected growth in the electric vehicle industry, the growing younger population, the increased demand for batteries across numerous end-users, and the higher penetration of the internet.
The Asia-Pacific battery testing equipment market growth analysis constitutes the assessment of South Korea, Australia, China, Indonesia, India, Japan, Thailand, and the rest of the Asia-Pacific. South Korea is considered an attractive industrial hub in the Asia-Pacific. The country excels in terms of manufacturing electronics, automobiles, telecommunication equipment, pharmaceuticals, chemicals, and others. Furthermore, with respect to the market’s growth, the South Korean Agency for Technology and Standard (KATS) released a notice concerning novel safety standards for industrial lithium secondary batteries in 2019.
Conversely, the electric vehicle industry in Indonesia is anticipated to thrive over the upcoming years, predominantly with the government promoting the sector. In this regard, the country’s government issued an ‘EV Roadmap,’ detailing several incentives in order to attract increased investments within the swiftly growing electric vehicle industry. As a result, these factors are set to supplement the battery testing equipment market growth in the Asia-Pacific over the forecast period.
Some of the top players operating in the market are TÜV SÜD, Century Batteries, Xiamen Tmax Battery Equipments Limited, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
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