The global electric vehicle (EV) battery formation and testing market are projected to experience a compound annual growth rate (CAGR) of 16.5% in value terms during the forecast period, leading to an anticipated value of USD 5,149.3 million by 2029. This market segment plays a crucial role in the development and enhancement of batteries specifically designed for electric vehicles (EVs). These batteries significantly influence factors such as range, charging speed, and overall performance within the EV ecosystem. Continuous innovation in battery technologies, including established ones like lithium-ion and emerging ones such as solid-state batteries, aims at improving energy density, durability, and cost-efficiency.
The report thoroughly examines the segmentation of the global EV battery formation and testing market by vehicle type for the forecast period. Key segments in this analysis include passenger cars and commercial vehicles. In 2023, the passenger cars segment held a dominant market share within the global EV battery formation and testing industry. The increasing adoption of fully electric commercial vehicles worldwide, in alignment with sustainability objectives and emissions reduction targets, is fueling the demand for battery formation and testing services. These services are essential for ensuring the reliability and performance of heavy-duty commercial EVs.
Additionally, the global EV battery formation and testing market size are segmented by battery type, including lithium-ion and other battery types. Notably, the lithium-ion segment emerged as the dominant force in the global EV battery formation and testing market in 2023. The competitive battery market landscape is driving both startups and established companies to deliver cost-effective, high-performance batteries at scale. This market growth presents a critical opportunity for industry transformation, with the segment projected to witness a CAGR of 16.8% during the forecast period from 2024 to 2029.
Geographically, Asia-Pacific has emerged as the leading player in the EV battery formation and testing market as of 2023, closely followed by Europe and North America. The growth of the North America electric vehicle battery formation and testing market is supported by advancements in emerging technologies and stringent environmental regulations, including CO2 emission restrictions and a net-zero greenhouse gas emission target by 2050. However, challenges such as the lack of standardized testing procedures exist, leading to inconsistencies in battery evaluation. In the Asia Pacific segment, a CAGR of 16.2% is anticipated during the forecast period from 2024 to 2029.
Prominent vendors shaping the competitive dynamics of the market 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., among other key players.
This study aims to analyze the global 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: North America (USA, Canada, and Mexico), Europe (Germany, UK, Sweden, Poland, and Rest of Europe), and Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia Pacific).
Table of Contents
TABLE OF CONTENTS
TABLE OF CONTENTS 1
FIGURES AND TABLES 5
Part 1. Key Findings 13
Part 2. Scope and Methodology 14
Report Scope 15
Vehicle Type 15
Application 15
Battery Type 15
Deployment 15
Sourcing 15
Testing 15
Region 15
Research Methodology 17
Part 3. EV Battery Formation and Testing Market Overview 19
Summary 19
Introduction 20
Part 4. Market Dynamics 22
Growth Drivers 22
Restraints and Challenges 24
Opportunities 25
Future Trends 26
Part 5. Global EV Battery Formation and Testing Market by Vehicle Type 27
Passenger Cars 30
Commercial Vehicles 32
Part 6. Global EV Battery Formation and Testing Market by Application 33
Manufacturing 36
Testing 37
Part 7. Global EV Battery Formation and Testing Market by Battery Type 38
Lithium-Ion 42
Other Battery 43
Part 8. Global EV Battery Formation and Testing Market by Deployment 44
Cloud-based 47
On-Premises 48
Part 9. Global EV Battery Formation and Testing Market by Sourcing 49
In-house 52
Outsourcing 53
Part 10. Global EV Battery Formation and Testing Market by Testing 54
Mechanical Testing 58
Thermal Testing 59
Electrical Testing 61
Other Testing 63
Part 11. Global EV Battery Formation and Testing Market by Region 65
Part 12. North America EV Battery Formation and Testing Market 72
North America EV Battery Formation and Testing Market Size 72
North America EV Battery Formation and Testing Market by Region 74
North America EV Battery Formation and Testing Market by Vehicle Type 79
North America EV Battery Formation and Testing Market by Application 84
North America EV Battery Formation and Testing Market by Battery Type 89
North America EV Battery Formation and Testing Market by Deployment 94
North America EV Battery Formation and Testing Market by Sourcing 99
North America EV Battery Formation and Testing Market by Testing 104
Part 13. Europe EV Battery Formation and Testing Market 111
Europe EV Battery Formation and Testing Market Size 111
Europe EV Battery Formation and Testing Market by Region 113
Europe EV Battery Formation and Testing Market by Vehicle Type 121
Europe EV Battery Formation and Testing Market by Application 126
Europe EV Battery Formation and Testing Market by Battery Type 131
Europe EV Battery Formation and Testing Market by Deployment 136
Europe EV Battery Formation and Testing Market by Sourcing 141
Europe EV Battery Formation and Testing Market by Testing 146
Part 14. Asia Pacific EV Battery Formation and Testing Market 153
Asia Pacific EV Battery Formation and Testing Market Size 153
Asia Pacific EV Battery Formation and Testing Market by Region 156
Asia Pacific EV Battery Formation and Testing Market by Vehicle Type 164
Asia Pacific EV Battery Formation and Testing Market by Application 169
Asia Pacific EV Battery Formation and Testing Market by Battery Type 174
Asia Pacific EV Battery Formation and Testing Market by Deployment 179
Asia Pacific EV Battery Formation and Testing Market by Sourcing 184
Asia Pacific EV Battery Formation and Testing Market by Testing 189
Part 15. EV Battery Formation and Testing Market Competitive Analysis 196
Global EV Battery Formation and Testing Market Competition Overview 196
Emerson Electric Co. 197
Business Overview 197
Contact Information 200
ABB, Ltd. 201
Business Overview 201
Contact Information 204
Rockwell Automation, Inc. 205
Business Overview 205
Contact Information 208
Siemens AG 209
Business Overview 209
Contact Information 211
Infineon Technologies AG 212
Business Overview 212
Contact Information 214
Dassault Systèmes SE 215
Business Overview 215
Contact Information 217
Other Leading Competitors 218
Disclaimer 219