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China Battery Testing Equipment Market Forecast 2021-2026

KEY FINDINGS

The China battery testing equipment market is predicted to record a CAGR of 5.18% during the forecast period, 2021-2026. China is the largest manufacturer globally and one of the advanced countries in the Asia-Pacific. With the presence of diverse industries like consumer electronics and electronics & semiconductors, China is a conducive market for battery testing equipment.

MARKET INSIGHTS

China has a huge manufacturing base. As a result, electronics & semiconductors are prominent end-users of battery testing equipment, given the manufacture of many batteries. Moreover, it is the largest consumer electronics producer globally. Besides, it has the most extensive electronics manufacturing ecosystem and supply chain worldwide. Also, the surging inclination towards next-generation LCD TVs, smartphones, and smart wearables benefit market growth. Furthermore, the electronics production volume growth is attributed to the sophisticated ICT (Information and Communication Technology) sector and the demand for smart gadgets, drones, and virtual reality.

Also, the country plans to integrate renewable energy with the national grids. This is estimated to offer growth opportunities for lithium-ion battery manufacturers. Additionally, the growing electric vehicle sales are projected to raise the demand for lithium-ion batteries.

COMPETITIVE INSIGHTS

Some of the major market players include Chroma Systems Solutions Inc, Extech Instruments, Arbin Instruments, Midtronics Inc, Xiamen Tmax Battery Equipments Limited, etc.

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China Battery Testing Equipment Market Forecast 2021-2026
Published By :Inkwood Research
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