Battery Market Driven by Growing Demand for Electric Vehicles

Battery Market Driven by Growing Demand for Electric Vehicles

“Battery Market”
The global battery market size was around $68 billion to $70 billion in 2018, and the demand is projected to grow at a CAGR of 5% to 6% during the forecast period of 2019 to 2025.

Global Battery Market: Growth Forecast and Demand Analysis

Gaining strong traction from growing ubiquity of smartphones and governmental emphasis on promoting electric vehicle usage, the global battery market is poised for fruitful returns, according to a newly published business intelligence report by IndustryARC. As per the evaluations of the report, the global battery market size was around $68 billion to $70 billion in 2018, and the demand is projected to grow at a CAGR of 5% to 6% during the forecast period of 2019 to 2025. The report is titled “By Type (Primary or Non-Rechargeable, Secondary or Rechargeable), By Application (Watches, Calculators, Mobile Phones, Camcorders, Computers, Cars, Trucks, Buses, Locomotives, Satellites, Robots, Submarines, Others), By End-User Industry (Aerospace, Defense & Military, Electrical & Electronics, Marine, Medical, Mining, Automotive, Others), By Geography (North America, Europe, Asia Pacific, South America, Middle East & Africa) – Forecast (2019-2025),”

Global Battery Market: Leading Segments

As per the IndustryARC report, North America led with a regional share of around 30% in 2018, whereas the electric vehicles end use segment is growing at a CAGR of nearly 21% through to 2025.  The lead-acid battery is used in vehicles. Additionally, increasing concerns towards fossil fuel caused pollution and increased price of petrol and diesel are leading to a major disruption in the automotive industry. Consumers are now moving towards electric vehicles, which is stroking the battery market. Superior performance and durability of lead-acid batteries with the increasing automobile sales in markets of the United States and Canada are chiefly driving the North American battery market growth.

Global Battery Market: Trends

•    Advances in battery technology have led to faster charging, higher energy densities, and reduced battery degradation. Combined with the expansion of motors with higher evaluation and consistency, improvements in battery chemistry have reduced costs and upgraded the enactment and proficiency of vehicles.

•    Aqueous lithium-ion batteries are lighter, durable, and they can be manufactured in different shapes, which reasons why these batteries have been of great interest for military use.

•    LIB batteries are less flammable in nature that makes them engaging for industries that prioritize safety over energy density such as airplanes and submarines.

•    The increased focus of the governments towards reducing greenhouse gas (GHG) emissions, the rise in the number of power outages, and the availability of manufacturers who provide lithium iron phosphate batteries at comparatively lower prices, are major factors that will drive battery market growth.

•    Manufacturers are constantly improving lithium-ion with new enhanced chemical combinations to increase the battery aging life. Increasing demand for wearable devices can boost the battery market performance.

•    Researchers are now considering replacing lithium-ion batteries with ions and electrolytes such as zinc, aluminum, magnesium, and sodium. These batteries will be cheaper and potentially safer, that will help battery market companies find newer customers.

•    Energizer recently launched a smartphone with a whopping 16,000mAh battery. This development will influence other manufacturers in the battery market.

•    Firefly is the innovative development in the battery market. This power bank is combined with the power to charge other devices, water resistant along with LED and great sounding wireless music. This innovation is gaining a lot of traction from the population more engaged in outdoor activities such as camping.

•    A company named Pisen in 2017 developed a laser pointer power bank. This laser power bank battery is so efficient that with one charge it can work for a whole year. The battery capacity is very powerful that it has been chosen by millions of customers all over the world. 

Global Battery Market: Competitive Landscape

Some of the major companies in the battery market are Panasonic, SAFT, Tesla, Exide, LG Chem, Samsung, A123, Duracell, eCobalt, Amperex Technology, Johnson Control, and Toshiba.

 

View Full Table of Contents of Battery Market :

https://industryarc.com/Report/15957/battery-market.html

 

Related Reports:

A.    Automotive Battery Market

https://industryarc.com/Report/15291/automotive-battery-market.html

B.    Lithium Ion Battery Market

https://industryarc.com/Report/15433/lithium-ion-battery-market.html

 

What can you expect from the report?

The Battery market is Prepared with the Main Agenda to Cover the following 20 points:

1. Battery Market Size by Product Categories & Application        

2. Battery market trends & Relevant Market Data

3. Manufacturer Landscape                                  

4. Distributor Landscape                                   

5. Pricing Analysis                                       

6. Top 10 End-user Analysis                               

7. Product Benchmarking                                   

8. Product Developments                                   

9. Mergers & Acquisition Analysis                           

10. Patent Analysis

11. Battery market Demand Analysis (Revenue & Volume)

12. Country-level Analysis

13. Competitor Analysis

14. Battery market  Shares Analysis

15. Value Chain Analysis

16. Supply Chain Analysis

17. Battery market Strategic Analysis

18. Battery market Current & Future Market Landscape Analysis

19. Opportunity Analysis

20. Battery market Revenue and Volume Analysis

 

Frequently Asked Questions:

Q. Does IndustryARC provide customized reports and charge additionally for limited customization?

Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:

1. Increase the level of data in the application or end-user industry.

2. Increase the number of countries in geography chapter.

3. Find out market shares for other smaller companies or companies which are of interest to you.

4. Company profiles can be requested based on your interest.

5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end-use segment.

Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com  to discuss more about our consulting services.

Talk to one of our sales representative about the full report by providing your details in the link below:

https://industryarc.com/support.php?id=15957

About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare

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