The rise of electric vehicles in the market largely depends on the development of high-energy batteries at a competitive price. Over the last few years, due to constant research efforts have continuously improved the energy densities of batteries, still electric vehicles have only gradually made their way into the market. A combined surge in both consumer demand and industrial development is currently on the move of advancing to make an impact on the next generation batteries market.
The next generation batteries market is differentiated into type and applications. Based on the type, the next generation batteries is sub segmented into Li-ion, Ni-Cd, Ni-metal hydride, lithium sulphur, magnesium ion, solid electrodes, metal-air, and ultra-capacitors. Application based next generation batteries segment is further divided into automotive, consumer electronics, transportation, aerospace & defense, industrial, and oil & gas.
The major growth driver of Next Generation Batteries Market include growing adoption of e-mobility industry, growing electric vehicle market, and growing consumption of consumer electronic appliances which is building demand for efficient power storage systems among others.
On the other hand, technological limitation and high initial cost are some of the major factors which are hindering the growth of next generation batteries market.
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Major Key Players:
The top players of Next Generation Batteries market include Panasonic Corporation (Japan), Sion Power (U.S.), Envia Systems Inc. (U.S.), Ambri Inc. (U.S), Hitachi (Japan), Fluidic Energy (U.S.), LG Chemicals (South Korea), Phinergy (Israel), Samsung (South Korea), Saft group (France), Amprius Inc. (U.S.), Mitsubishi Chemical (Japan), Seeo (U.S.), Lockheed Martin (U.S.), Uniross Batteries (South Africa), PolyPlus Transfection (France), and OXIS Energy (U.K).
The Next Generation Batteries is differentiated by type and applications.
Based on the type the next generation batteries is sub segmented into Li-ion, Ni-Cd, Ni-metal hydride, lithium sulfur, magnesium ion, solid electrodes, metal-air, and ultra-capacitors.
On the basis of application next generation batteries segment is further divided into automotive, consumer electronics, transportation, aerospace & defense, industrial, oil & gas, among others.
Geographically, the Next Generation Batteries is segmented into four different regions namely North America, Asia Pacific, Europe, and the Rest of the World.
North America is presumed to be a dominating region in next generation batteries market. The U.S. and Canada are the leading countries in the region attributed to rising awareness of electric vehicle and regulation of government policies to encourage the use of electric vehicle are anticipated to drive the market over the forecast period.
Europe is anticipated to gain a substantial growth in the next generation batteries market. Asia Pacific is presumed to have a significant growth in next generation batteries over the forecast period. China, Japan, India, and Republic of Korea are the leading countries in the region. Rising need for cost-effective and efficient batteries are anticipated to drive the market over the forecast period.
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