Battery Market Overview:-
Battery is a device that provides the electric energy to automobiles for starting, lighting and ignition. The global battery market has seen a remarkable growth over the past few years and it has been anticipated that the global market will maintain the growth status during the forecast period. The rising demand of hybrid, semi-hybrid and fully electric vehicles will drive the global battery market. Also the adoption rate of these batteries in passenger vehicles, is increasing, which will drive this market. Rising consumption of mobiles and laptop, technological innovations, emerging economies and growing disposable income & government initiatives to replace fuel vehicle over battery vehicles, are some of the major factors, which are driving the global Battery Market.
In January 2018, Contemporary Amperex Technology Co Ltd (CATL) has announced for USD 2 billion IPO in Shenzhen, to construct two battery plants which will include a giant 24 GWh facility which will help to massively boost the output.
On 31st August 2016, Douglas Battery introduced a new line of LegaC2™ high-frequency modular chargers. These new line chargers featured industry’s most efficient, most compact, and most versatile designs, available as wall-mounted or a free-standing design.
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The leading players in the battery market are Exide Technologies (U.S.), Douglas Battery (U.S.), Penn Manufacturing Company, Inc.(U.S.), Johnson Controls Inc(U.S.), The Furukawa Battery Co. ltd (Japan), Zhejiang Haijiu Battery Co. Ltd (China), Chaowei Power Holding ltd (China), CamelGroup (Italy) and Fengfan Co. Ltd.(China)
Global Battery Market Segmentation:-
The market has been segmented into portable, automotive and industrial on the basis of application. Among these, automotive was the largest segment owing to the increasing demand for plug-in hybrid vehicles, electric vehicles, and hybrid vehicles. The SLI application in the automotive segment has contributed to the high battery demand for lighting, starting, and ignition of the vehicle.
The market has been segmented into Asia Pacific, Europe, North America, and Rest-of-the-World based on the region.
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Market Research Future Analysis:
There are many elements that hold the growth of global battery market. Contribution to the global industrial scenario is estimated to increase significantly in the forecast period. Asia-Pacific is dominating the battery market due to factors such as growing demand from automobile and industrial sectors. Moreover, steady growth in domestic production and exports of automobiles coupled with expanding vehicle fleet is projected to drive demand for batteries. Additionally, rising penetration of two-wheelers in semi urban and rural India is projected to surge replacement demand for two-wheeler batteries during the forecast period.
Major Points From Table Of Contents:-
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Battery Market, By Battery Type
5 Global Battery Market, By Application
6.2 North America
6.3.5 Rest Of Europe
6.4.4 Rest Of Asia-Pacific
6.5 Rest Of The World
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