Battery Technology Market Research Report
Growth Opportunities in the global battery technology market
look promising over the next six years. The growing adoption of battery
technologies in the renewable energy sector, the rising demand for automation
and battery-operated material handling equipment in several sectors, and the
increasing use of electric and hybrid electric vehicles worldwide are the key
factors driving the growth of the global battery technology market.
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Battery
Technology Market’s leading Manufacturers:
·
Panasonic Corporation
·
Clarios
·
Samsung
·
GS Yuasa International Ltd.
·
Chaowei Power Holding Limited
·
CATL
·
Enersys
·
LG
·
BYD Company
·
Hitachi Chemical
Battery
Technology Market Dynamics (including market size, share, trends, forecast,
growth, forecast, and industry analysis)
Key Drivers
The growing adoption of battery technologies in the
renewable energy sector, the rising demand for automation and battery-operated
material handling equipment in several sectors, and the increasing use of
electric and hybrid electric vehicles worldwide are the significant factors
surging the growth of the battery
technology market share in terms of revenue. Moreover, the growing
adoption of batteries in the utility sector is further augmenting the growth of
the battery technology market. There has been an upsurge in demand for
batteries due to rapid automation in gadgets and portable electronic devices.
Furthermore, Continuous technological advancement in batteries, such as the
introduction of microelectronic batteries and the charger controller
technology, is bringing new customers into the market during the forecast
period. On the other hand, the factors hindering the growth of the battery
technology market include the rising number of legislations to limit the use of
lead, calcium, and mercury in the manufacturing procedure.
Regional Drivers
Based on region, the Asia-Pacific is expected to dominate
the market in the upcoming years. The strong presence of major organizations
such as Samsung, Panasonic Corp., and other market players. Additionally, the
ongoing industrialization and infrastructure development activities in the
developing countries are further expected to energize the growth of the market.
Application Segment
Drivers
Based on application, the market is segmented into power
& utilities, transportation, industrial, commercial & residential,
consumer electronics, and medical. The consumer electronics segment is expected
to increase at a higher CAGR in the upcoming years. This is mainly due to the
increasing demand for smartwatches and fitness bands as a result of the rapid
development of innovative product designs and features.
Battery
Technology Market Segmentation:
Segmentation by Technology
Type:
·
Lithium-Ion Battery
o
The market for Lithium-Ion Battery, By Type
§
Lithium Nickel Manganese Cobalt (LI-NMC)
§
Lithium Iron Phosphate (LFP)
§
Lithium Cobalt Oxide (LCO)
§
Lithium Titanate Oxide (LTO)
§
Lithium Manganese Oxide (LMO)
§
Lithium Nickel Cobalt Aluminum Oxide (NCA)
·
Lead Acid Battery
o
The market for Lead Acid Battery, By Type
§
Flooded Lead-Acid Battery
§
VRLA Technology
·
Nickel Metal Hydride Battery
·
Others
Segmentation by Application:
·
Power & Utilities
·
Transportation
·
Industrial
·
Commercial & Residential
·
Consumer Electronics
·
Medical
Segmentation by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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