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Battery Market Report

RA00090

Battery Market, by Type (Lead Acid Battery, Lithium Ion Battery, Nickel Metal Hydride, Nickel Cadmium, Others), Application (Automotive, Industrial, Portable), Regional Outlook (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

RA00090

Pages: NA

Feb 2020

COVID-19

pandemic has shown to have an enormous impact on most
industries.

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Impact of covid-19 on Battery Market

Global Battery Market Insights 2026:

Battery is a combination of one or more cells whose chemical reaction creates a flow of electricity in a circuit.  All types of batteries are made up of three basic components an anode, which is a positive, a cathode, which is negative, and an electrolyte. Electrolytes are substances which chemically react with the anode and the cathode. When the anode and cathode are connected to a circuit, a chemical reaction takes place which produces electricity. When the anode and cathode of the battery is consumed the battery is unable to produce electricity, and the battery is termed as “dead”. So basically, battery is a device that produces electricity to provide power to the various electronic appliances. These batteries are categorically divided into two types; batteries that can be used only once are termed as “primary batteries” and batteries which are used over and over again and can be recharged after a specific span of time are termed as “secondary batteries”. Batteries store potential electrical energy in a portable container and can be use by extracting the chemical energy.

Rise in the use of the electric vehicles and increasing use of smart devices are expected to drive the battery market.

Decreasing fossil fuel reserves along with high CO2 emissions and rise in the fuel prices have given a boost to the use of electric vehicles. The batteries have the potential energy to produce sufficient energy and power for long ranges and acceleration similar to engines of gasoline powered vehicles. In addition, the automotive manufactures are also investing heavily in their R&D for the production of electric vehicles due to which it is predicted to give rise to the battery market as the batteries are the main element used in the electric vehicles to run. The battery market is also witnessed to have significant growth due to the technological advancement. The increase in the high demand for portable electronics which includes smart phones, smart watches, tablets and many more is projected to propel the growth of the battery market.
Fluctuating price of raw materials is considered to be major restraints for the market

Negative impact of the lead acid batteries on the environment and compliances with the battery standard are considered to be major restraints for the market. In addition, fluctuating prices of raw materials and presence of large number of companies affecting the profit margin are predicted to be major restraints. It is difficult for new vendors to survive in the market due to the presence of the large number of players in the market. It gives a tough competition with regards to price, features, quality, functionality and services.

Battery Market Segmentation, by Type:

Lithium ion battery is found to be the most lucrative by 2026

Lithium ion batteries are expected to create more opportunities for the growth of the battery market due to the decreasing price and rechargeable feature in an optimal time. These batteries are used in the electric vehicles, portable devices and other electronic devices. Lithium ion batteries are capable enough to deliver adequate energy with respect to its weight, cost and size. The companies are investing more in the R&D of batteries to make them more compatible as these batteries are small in size & lightweight and aid in the productivity of the cells which can be used in various devices and applications. Nickel Cadmium battery is a rechargeable battery. These batteries are more efficient than the lead acid batteries. These batteries are capable enough to charge rapidly ranging within 20 minutes to 120 minutes and they are low maintenance and long lasting; these benefits are predicted to boost the battery market in the forecast period.

Battery Market by Application:

Automotive segment will possess high investment opportunities in the coming future

Automotive segment is predicted to have the highest opportunities due to rapid growth and the ongoing development in the electric vehicles. Due to the increasing use of electric vehicles and rising CO2 emissions, the government is also taking several initiatives and subsidies to aid the manufacturing of the electric vehicles, which gives huge growth to the automotive segment.

Battery Market by Region:

Asia-Pacific is accounted to have the highest growth in the forecast period

Asia-Pacific was accounted to have the highest growth rate in the battery market. Due to the availability of skilled labor, low production and setup cost, major automotive are planning to setup their manufacturing plant in the Asia-Pacific region. With favorable government rules and regulations, it’s been easy for the manufacturing companies to plan and setup their operation in the Asia-Pacific region. Subsequent demand for automotive industry, which is one of the largest end-uses of the battery market is anticipated to expand the market. Europe has a significant contribution to the use of the battery. The deployment of electric vehicles and the installation of renewable power plants is expected to boost the growth of the battery market.

Key Participants in the Battery Market: 

The major key players in the Battery Market are TianJin Lishen Battery Joint-Stock Co.,Ltd, Tesla, Inc., Sony Corporation, Samsung SDI Co. Ltd., Saft Groupe S.A., Panasonic Corporation, LG Chem Ltd, GS Yuasa Corporation, Clarios, Duracell Inc., and BYD Co. Ltd., among others.

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2018

  Forecast timeline for Market Projection

  2019-2026

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Lead Acid Battery
  • Lithium Ion Battery
  • Nickel Metal Hydride
  • Nickel Cadmium
  • Others

  Segmentation by Application

  • Automotive
  • Industrial
  • Portable

  Key Countries Covered

U.S., Canada, Germany, France, UK, Italy, Japan, China, India, South Korea, Australia, Middle East, Africa

  Key Companies Profiled

  • TianJin Lishen Battery Joint-Stock Co. Ltd.,
  • Tesla, Inc.,
  • Sony Corporation
  • Samsung SDI Co. Ltd.,
  • Saft Groupe S.A.,
  • Panasonic Corporation
  • LG Chem Ltd
  • GS Yuasa Corporation
  • Clarios,
  • Duracell Inc.,
  • BYD Co. Ltd.,

FREQUENTLY ASKED QUESTIONS?
 

A. Tesla, Inc., and Duracell Inc., are some of the key players in the global battery market.

A. Asia-Pacific possesses great investment opportunities for the investors to witness the most promising growth in the coming years.

A. Product development and investment in R&D are the key strategies opted by the operating companies in this battery market.

A. Tesla, Inc., and Duracell Inc., are the companies investing more on R&D activities for developing new products and technologies.

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