Battery Market Research Report 2022 by Battery Type (Lead acid, Lithium Ion, Nickel Metal Hydride and Nickel Cadmium), by Application (Portable, Automotive, Industrial) and Region – Forecast to 2030.
Battery Market Outlook
The global battery market is projected to reach USD 423.90 billion by 2030, growing with a CAGR of 16.68% over the forecasting years of 2022 to 2030.
An electric battery is an electric power source comprising one or further electrochemical cells, along with external connections to power electrical devices. It stores chemical energy and also converts it into electrical energy. The chemical reactions within batteries involve electron flow from one electrode to another via an external circuit. Subsequently, the flow of electrons offers an electric current that can be used to perform tasks.
Top battery industry players listed:
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Battery Market Regional Analysis
Asia Pacific held the largest profit share of 33% in 2019. Asia Pacific is a major customer of batteries on account of growing automobile production, coupled with rapid development in the artificial sector, therefore generating high demand across the region. India and China are the key producing countries in the consumer electronics segment owing to the low production and setup costs and availability of a skilled workforce.
North America is expected to witness significant growth during the projected period. Major factors driving the regional market include a drop in the cost of Li- ion battery, increased trade of consumer electronics, rapid relinquishment of electric vehicles, and a growing renewable sector. likewise, North America remains an inventor in the research and invention of the global battery market and one of the largest consumers of batteries.
In the recent market situation, policy support plays a vital part in propelling the relinquishment of EVs. Policy support also permits market growth by making vehicles seductive to guests by decreasing risks for stakeholders and encouraging directors to develop EVs on a large scale.
Battery Market Segmentation
Market Segmentation – Type, Technology, and Application –
Market by Type
Market by Technology
The lithium- ion battery segment, under the technology category, is set to capture the highest market share by 2030.
A lithium- ion battery is a type of rechargeable battery composed of cells where lithium ions move from the negative to the positive electrode via an electrolyte during discharge, and back during charging.
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The battery’s applications include a wide range of products similar to toys, electronics, small and large appliances, wireless headphones, handheld power tools, electrical energy storage systems, electric vehicles, and others. This factor, in turn, is expected to contribute to the segment’s growth during the forecast period.
Battery Market by Application
Automotive Batteries
Automotive batteries are anticipated to be the leading as well as dominating application during the forecast period.
A wide range of batteries is being extensively used in the automotive sector, which includes hybrid electric vehicles, electric vehicles, and others. An automotive battery is used to power the electrical systems of vehicles when the engine is turned off. Also, it’s used to start the engine, offering current for the electric starter motor and the ignition system.
Growth in the automotive sector across the globe and product developments and launches by the market players are some of the major factors contributing to the member’s growth during the forecast period.
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Table Of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Battery Market, By Battery Type
4.1 Introduction
4.2 Lead Acid
4.3 Lithium Ion
4.4 Nickel Metal Hydride
4.5 Nickel Cadmium
5 Global Battery Market, By Application
5.1 Introduction
5.2 Portable
5.3 Automotive
5.4 Industrial
6 Regional Market Analysis
6.1 Introduction
6.2 North America
6.2.1 U.S.
6.2.2 Canada
6.3 Europe
6.3.1 U.K
6.3.2 France
6.3.3 Germany
6.3.4 Spain
6.3.5 Rest Of Europe
6.4 Asia-Pacific
6.4.1 China
6.4.2 Japan
6.4.3 India
6.4.4 Rest Of Asia-Pacific
6.5 Rest Of The World
7 Competitive Analysis
7.1 Introduction
7.2 Competitive Scenario
7.2.1 Market Share Analysis
7.2.2 Market Development Analysis
7.2.3 Battery Type/Service Benchmarking
7.3 Exide Technologies
7.3.1 Overview
7.3.2 Battery Type/Service Offering
7.3.3 Strategy
7.4 Douglas Battery
7.4.1 Overview
7.4.2 Battery Type/Service Offering
7.4.3 Strategy
7.5 East Penn Manufacturing Co.
…Continued.
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