Europe Battery Testing Equipment Market Forecast 2021-2028
The Europe battery testing equipment market is estimated to register a CAGR of 4.12% across the forecasting period of 2021 to 2028. The market growth of the region is mainly facilitated by key aspects, including the stringent quality standards for battery testing equipment manufacture, the increasing adoption of smartphones, and rising investments in electric vehicle production.
The Europe battery testing equipment market growth assessment includes the analysis of the United Kingdom, Russia, Italy, Germany, France, Spain, and the rest of Europe. The energy, automotive, and transport sectors are among the top industries within the French territory. Battery testing equipment providers and manufacturers in France possess the opportunity to cater to these industries in order to attract more customers and augment the market’s growth. Furthermore, in terms of the industrial sector’s development, the country’s government introduced the ‘Industrie du Futur’ initiative for supporting companies across different sectors to implement Industry 4.0 tools.
On the other hand, Italy is the fourth-largest European economy, accounting for a gross domestic product (GDP) of $2.0 trillion in 2018. The country’s government also announced its objective to become one of the leading electric vehicle manufacturers across Europe. The robust automotive industry is anticipated to offer significant opportunities for the battery testing equipment market growth, fueled by the surging adoption of electric vehicles. Hence, these factors are set to proliferate the market growth in Europe during the forecast period.
Some of the leading firms operating in the market are Megger Group Limited, Chauvin Arnoux, DV Power, etc.
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