South America Battery Testing Equipment Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type, Application, and End-User

The SAM battery testing equipment market is expected to grow from US$ 58.83 million in 2019 to US$ 80.80 million by 2027; it is estimated to grow at a CAGR of 4.1 % from 2020 to 2027. The growing adoption of battery testing equipment in the healthcare industry across SAM propels the market growth. Batteries offer efficiency and customization to the healthcare industry. Moreover, due to the ongoing COVID-19 pandemic, the demand for medical instruments such as ventilators, diagnostic equipment, and other critical care devices has increased across the region. Therefore, prominent battery testing equipment companies are offering continuous support and services owing to the growing demand from the healthcare industry. Continuous testing and maintenance are required to reduce battery wastage and ensure battery and equipment safety. Hence, the growing demand for medical equipment and the need to reduce battery wastage are expected to provide growth opportunities to the SAM battery testing equipment market during the forecast period.

Countries in SAM, especially Brazil, are highly affected due the COVID-19 outbreak. The pandemic has shaken several industries. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has adversely affected economies and countless industries in the region. The lockdown imposition has resulted in lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor and electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities. The battery testing equipment market players also experienced a slowdown in the volumes as the manufacturing facilities were operating with limited human resources. This has had a negative impact on the SAM battery testing equipment market. The government of countries such as Brazil has taken an array of actions to protect their citizens and contain the spread of novel coronavirus. As the region is known for aerospace, automotive, and healthcare industries, these industries experienced a downfall in their regular activities. This has harmed the GPD of the region as well. Moreover, as mentioned industries are battery testing equipment users, there was a decline in the use of the equipment across these industries because of limited business operations, unavailability of human resources, and traveling restrictions during the lockdown.

Based on product type, the SAM battery testing equipment market for the portable battery testing equipment segment is expected to grow faster during the forecast period. The portable battery testing equipment comprises digital hydrometers, handheld battery testing equipment, and ground fault locators. As the batteries are eventually going to fail and always deteriorate at a particular rate, the market players are designing advanced technology solutions to test and measure various parameters to forecast the battery life. To meet the testing recommendations, the testing equipment is used to measure cell voltage (V), test internal ohmic resistance (R) or conductance (Siemens), temperature, ripple current, and strap resistance. The advantages of portable battery testing equipment such as customization, portability, and easy handling propel its demand, which drives the growth of the SAM battery testing equipment market for this segment.

The overall SAM battery testing equipment market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the SAM battery testing equipment market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the SAM battery testing equipment market. Arbin Instruments; CHAUVIN ARNOUX; Chroma Systems Solutions, Inc.; DV POWER; and Megger Group Limited are among the players operating in the market.