Next Generation Batteries Global Market Overview:
The primary force driving the growth of next generation batteries market is the increasing demand for high storage and efficient batteries in the electrical motor vehicle industry and growing consumption of consumer electronics. For large amounts of power storage, there arises a requirement of large and efficient batteries, which is ultimately building demand for higher next generation battery capacities. The next generation batteries market is driven by the factors such as growing demand from consumer electronics sector, rising need for less power usage and less heat production among others. Next generation batteries are gaining increasing importance in automotive sector owing to the growing demand for electrically operated cars and bikes. Moreover, automotive giants are investing into the next generation batteries market. German manufacturer BMW is set to invest £175 million into new battery technologies after announcing its new Battery Cell Competence Centre in Munich.
On the other hand, high initial costs is one of the major factors likely to pose challenges to the market growth. Also, lack of awareness regarding green initiatives lies among other factors which could cause hindrance in the growth of next generation batteries market.
Characterized by the presence of several major well-established players, the global market of next generation batteries appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. These Players invest heavily in the R&D to develop next generation batteries technologies that will meet the increasing demand on a completely different level compared to their competition. These vendors are constantly bringing innovations in the next generation batteries market.
Growing industrialization is expected to influence the Next Generation Batteries Market. Next generation batteries comprises of rechargeable poly-lithium-ion batteries, flow batteries, and advanced lead-acid. These batteries possess some remarkable properties like being compact, lightweight and enhanced with safety features. The major growth driver of next generation batteries market includes growing adoption of e-mobility industry, increasing electric vehicle market and growing consumption of consumer electronic appliances which is building demand for efficient power storage systems among others. Increasing government initiatives and investments is also another major factor fuelling the market growth. This is owing to the increasing awareness regarding green energy initiatives. Also, next-generation battery developers are focusing on technological advancements and scaling up the mass-production of the next generation batteries. Next generation batteries are expected to store more energy and also possess improved longevity.
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Major Key Players:
Hitachi (Japan), LG Chemicals (South Korea), Panasonic Corporation (Japan), Saft group (France), Samsung (South Korea), Sanyo (Japan), Mitsubishi Chemical (Japan), Toshiba (Japan), Envia Systems Inc.(U.S.) and Uniross Batteries (South Africa), OXIS Energy (U.K), PATHION Inc. (U.S.), Sion Power (U.S.), GS Yuasa Corporation (Japan), Nohm Technologies (U.S.), PolyPlus Transfection (France), Lockheed Martin (U.S.), Pellion Technologies (U.S.), Seeo (U.S.), Solid Power Inc. (U.S.), Amprius Inc. (U.S.), Phinergy (Israel), Fluidic Energy (U.S.), Ambri Inc. (U.S.) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global next generation batteries market.
Industry/ Innovation/ Related News:
December, 2017 – Panasonic hints at ‘Beyond Lithium’ technology for EV battery improvements. Panasonic is also a battery supplier for Tesla and is taking a hard look at solid state technology.
September, 2017 – LG Chemicals will introduce NCM 811 battery cells for EVs in the upcoming year.
December, 2017 – Toshiba Develops Next-Generation Lithium-ion Battery with New Anode Material. The new anode material named titanium niobium oxide achieves double the capacity of the anode of current lithium-ion batteries whereas the new battery realizes driving range of electric vehicles boosted to 320km on 6-minute, ultra-rapid recharge, triple than that possible with current lithium-ion battery.
Global Next Generation Batteries Market Competitive Analysis:
The market of next generation batteries appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape.
Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Next Generation Batteries Market Segmentation:
The global next generation batteries market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type: Comprises Li-ion battery, Ni-Cd battery and Ni-metal hydride battery among others.
Segmentation by Application: Comprises Automotive, Transportation, Aerospace & defence, industrial, Oil & gas, among others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Next Generation Batteries Market: Regional Analysis
Next generation batteries global market is expected to be dominated by North America with the largest market share due to developed semiconductor industry and also due to increase in demand in the region, and therefore accounting for a huge economy by 2027. And this growth is driven by constant developments and technological innovations across industries, economic development in U.S. and Canada, growing infrastructure developments, and increasing foreign investment in the region.
Furthermore, the technological advancements and grow demand for the same is increasing the scope of next generation battery solutions in the region. Also the presence of key players like Lockheed Martin, Pellion Technologies, Seeo, Solid Power Inc. and Amprius Inc. among others is one major factor fuelling the market growth. Next generation batteries market in Asia-Pacific market is expected to grow at a substantial CAGR during 2017 to 2023 due to technological advancements and growing demand for cost effective and efficient batteries in the region.
The European market for next generation batteries market is expected to grow at a considerable CAGR (2017-2023) and has occupied the second biggest market share of the next generation batteries.
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