To know the impact of COVID-19 On Battery Market Size By Product (Lead Acid, Lithium Ion, Nickel Metal Hydride, Nickel Cadmium, Others) Forecast 2021-2027
Market Size Forecast Scenarios (Optimistic, Baseline and Pessimistic) 2021-2027
Global Battery Market is valued at USD 16.56 Billion in 2020 and expected to reach USD 22.26 Billion by 2027 with the CAGR of 4.32% over the forecast period.
Global Battery Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Growing integration of electronics, fuel savings & rising supportive government incentives for cleaner transportation and increasing number of new hybrid & electric automotive models from OEMs are some of the major factors driving the growth of global battery industry.
Scope of Global Battery Market Research Report-
Device that contains one or more electrochemical cells which are with external connections for powering the electrical devices such as mobile phones, flashlights and electric cars are known as battery. Its positive terminal is the cathode and its negative terminal is the anode when a battery is supplying electric power and the terminal marked negative, is the source of electrons which will flow through an external electric circuit to the positive terminal. A redox reaction converts high-energy reactants to lower-energy products when a battery is connected to an external electric load and the free-energy difference is delivered to the external circuit as electrical energy. Types of batteries are basically classified into 2 types such as non-rechargeable batteries (primary batteries) and rechargeable batteries (secondary batteries). These batteries available in various sizes and shapes such as miniature cells are used to power hearing aids & wristwatches, lithium-ion batteries or large lead acid batteries which are used in vehicles, thin cells are used in smartphones and at the largest extreme huge battery banks the size of rooms that provide standby or emergency power for telephone exchanges and computer data centers. House, health instruments, medical, logistics and construction, firefighting and emergency, military and others are some of the major applications of the batteries industry. It is expected to witness a substantial demand in the battery marketplace in the coming few years.
Global Battery Market research report is segmented on the basis of product, application and region & country level. On the basis of product, the market is segmented into lead acid, lithium ion, nickel metal hydride, nickel cadmium and others. On the basis of application, the market is segmented into automotive batteries, industrial batteries and portable batteries.
The regions covered in this global batteries industry market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Battery is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Battery Market Report–
The report covers prominent players are GS Yuasa International Ltd., BYD Company Ltd., A123 Systems LLC, Hitachi Chemical Co., Ltd., Duracell, Johnson Controls, NEC Corporation, Panasonic Corporation, Samsung SDI Co., Ltd., Toshiba Corporation, LG Chem Ltd., Saft, Sony Corporation, Eveready Industries, Contemporary Amperex Technology Co and others of the battery market
Battery Breakthrough is for Giving Flight to Electric Aircraft and Boost Long-Range Electric Cars.
On July 20th, 2020; Researchers from Carnegie Mellon University and Berkeley Lab have designed new solid electrolytes that light the path to wider electrification of transportation. They developed new battery technology at Berkeley Lab that could give flight to electric aircraft and supercharge safe in long-range electric cars. In the detection of a rechargeable battery which can give power to electric vehicles (EVs) for hundreds of miles on a single charge as the scientists have striven to replace the graphite anodes currently used in EV batteries with lithium metal anodes, but while lithium metal extends an EV’s driving range by 30–50% and it also shortens the battery’s useful life due to tiny treelike defects that form on the lithium anode over the course of many charge, lithium dendrites and discharge cycles. Dendrites short-circuit the cells in the battery if they make contact with the cathode this is worst. Researchers assumed that solid electrolytes are such as those made from ceramics that would work best to prevent dendrites from working their way through the cell for decades. But the problem with that approach is found that is it didn’t stop dendrites from forming or “nucleating” in the first place like tiny cracks in a car windshield that eventually spread. So, researchers at the Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab) are in collaboration with Carnegie Mellon University have reported in the journal Nature Materials a new class of soft, solid electrolytes that made from both polymers and ceramics.
Growing Integration of Electronics for Automotive Applications is one of the Major Factors Driving the Global battery Market Growth.
The electronics plays pivotal role in improving two aspects of vehicle performance such as refining powertrain performance for reducing emissions and improving fuel consumption & refining chassis, exterior and interior to improve vehicle safety and comfort. So, innovations in safety, expanded availability and advanced connectivity of telematics are expected to cover the way for growth of electronics in automobiles. For instance; According to Deloitte, EV sales shifting from 2 million units in 2018 to 4 million in 2020, 12 million in 2025, before rising to 21 million in 2030 as the cost of manufacturing batteries falls significantly. BEVs are already likely to account for about 70% of total EVs in 2030. Hence, growing integration of electronics for automotive applications is one of the major factors driving the global battery market growth.
In addition, the high demand for portable electronics that includes LCD displays, tablets, smartphones and wearable devices such as fitness bands are also supplementing the global battery market growth. For instance; According to Multidisciplinary Digital Publishing Institute (MDPI), Current estimates suggest that there are approximately 40,000 Mobile Health applications and Commercial activity trackers for fitness such as Polar, Fitbit, Samsung Gear Fit, Apple Watch and Jawbone are increasingly popular with an estimated to about 19 million “connected wearables” purchased in 2014, compared to 5.9 million in 2013 and substantial increase by 2019. Furthermore, increased focus of the governments towards reducing greenhouse gas (GHG) emissions and the availability of manufacturers who provide lithium iron phosphate batteries at comparatively lower prices are also expected to foster the market growth. However, safety issues related to battery usage and the cost involved may restrain the growth of global battery market.
Asia Pacific is Expected to Witness a Significant Growth in the Global Battery Market.
Asia Pacific is expected to witness a significant growth in the global battery market due to major customer of batteries on account of growing automobile production that coupled with rapid development in the industrial sector in this region. For instance; According to Asia Development Bank, the People’s Republic of China (PRC), the “factory of the world,” is pushing high-technology industries and the use of technology in manufacturing through its “Made in China 2025” program. The belief in the manufacturing relevance for the development is patent by the fact that India’s 2011 National Manufacturing Policy that aims at rising the share of manufacturing in gross domestic product (GDP) to about 25% and creating about 100 million manufacturing jobs, priorities reinforced by the current government’s “Make in India” campaign. In addition, India and China are the key producing countries in the consumer electronics segment due to the low production setup costs and availability of skilled workforce in this region.
North America is also expected to show a substantial growth due to decrease in the cost of Li-ion battery, increased sale of consumer electronics, rapid adoption of electric vehicles and growing renewable sector in this region.
Global Battery Market Segmentation:–
By Product: Lead Acid, Lithium Ion, Nickel Metal Hydride, Nickel Cadmium, Others
By Application: Automotive Batteries, Industrial Batteries, Portable Batteries
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
Key Benefits for Global Battery Market Report–
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
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