Global Battery Market Research Report - Forecast to 2027

Battery Market Information by Battery Type (Lead acid, Lithium Ion, Nickel Metal Hydride and Nickel Cadmium), by Application (Portable, Automotive, Industrial) and Region - Forecast to 2027

ID: MRFR/E&P/2154-HCR | February 2021 | Region: Global | 110 pages

Battery Market Overview:


Battery Market is expected to register a CAGR of 10.5% by the end of the forecast period.


The battery is the essential device used in the automotive industry to provide electric energy to automobiles for ignition, lighting, and starting. Batteries being the foremost component of any automobile to start and stop the engine have seen exponential growth in the automotive industry. Globally a wide variety of vehicles have been introduced with features like the high degree of electrification and hybridization. With the increasing demand for fully electric vehicles, semi-hybrid vehicles, and hybrid vehicles the global market had added fuel to the market. Batteries have also gained market as a major component in passenger vehicles replacing the use of fuel in automobiles.


The global battery market has is expected to grow remarkably in the forthcoming years and maintain its status globally throughout the forecast period. The global battery market is expected to generate a revenue of more than 270 billion US dollars by the end of the forecast period. 


COVID-19 Analysis:


The COVID-19 pandemic has shaped the world dynamics economically, socially, politically, and geographically. The virus has been declared contagious and communicable even through surfaces that have been containment due to in proximity of an infected person. The world was shut to any activities, gatherings, and communications. People were subjected to follow guidelines to act proactively while buying and using the basics of daily lives. The automotive industry faced the wrath of the ongoing pandemic due to stop on any transport movement without any proper regulation. The battery industry also suffered a negative impact as the industry is majorly concentrated in China (the country of origin of the virus). The sales of lithium-ion batteries saw an immense downfall during this period by 8.5%. The supply and demand saw a drastic shift due to reduced import-export of the raw materials.


Competitive Landscape:


The Competitive landscape of the global battery market research provides additional information on the Pricing Analysis, Regulatory Landscape, Geographic Analysis, Macroeconomic Indicators, Prolific Company Information, strategy information, SWOT analysis adopted by the key intenders. The Target Audience of the global battery market is Manufacturers, Potential Investors, Research Institute, Organizations, Education institutes. The Product Analysis of the global battery market makes a detailed comparison of the product matrix on the different product types using the battery for different usage. The Key Players of the global battery market are Douglas Battery (U.S.), Johnson Controls Inc(U.S.), Zhejiang Haijiu Battery Co. Ltd (China), CamelGroup (Italy), Exide Technologies (U.S.), Penn Manufacturing Company, Inc.(U.S.), The Furukawa Battery Co. Ltd (Japan), Chaowei Power Holding Ltd (China), and Fengfan Co. Ltd.(China).


Recent Developments:


-In October 2020, The United States sold more than 45,000 HEVs (hybrid electric vehicles) including more than 18000 cars and 30000 luxury touring vehicles which increased the revenue in the region by more than 44.7%.


-China sold more than 1.06 million electronic vehicles in 2019, making it the largest market of the global electric vehicles in the APAC region. This growth is expected to be exponential in forthcoming years accounting for more than 50% of the world's global share of electric car export done through China.


Market Dynamics:


Drivers:


The major factors leading to the growth of the global battery market are the high demand for batteries in automotive application like electric vehicles, rechargeable batteries, and non-rechargeable batteries in the new-aged vehicles, rising interest of consumers towards electronics, increased demand for portable electronics like LCDs, LEDs, tablets, smartphones, and other wearable devices like fitness bands, smartwatches, and others. The Other factors which have contributed to boosting the growth of the global market are accounted due to technological advancements like cost-effectiveness, enhanced efficiency, and product innovation. The other major factor responsible for driving the market is a shift of focus to use eco-friendly technology over fuel-driven automobiles.


Challenges:


The global Battery market faces challenges in terms of lack of awareness in rural areas, dynamically hanging prices of the raw material prices, high transportation costs, and others. Strict government authority’s emission rules, regulations, and norms in developed countries to generate battery powers as it could release harmful emissions in the environment also hampers with the market growth.


Technology Analysis:


Batteries being the foremost component of any automobile to start and stop the engine have seen exponential growth in the automotive industry. Globally a wide variety of vehicles have been introduced with features like the high degree of electrification and hybridization. The battery is the essential device used in the automotive industry to provide electric energy to automobiles for ignition, lighting, and starting. 


With the increasing demand for fully electric vehicles, semi-hybrid vehicles, and hybrid vehicles the global battery market had added fuel to the market. Batteries have also gained market as a major component in passenger vehicles replacing the use of fuel in automobiles. The major factors leading to the growth of the global market are the high demand for batteries in automotive application like electric vehicles, rechargeable batteries, and non-rechargeable batteries in the new-aged vehicles, rising interest of consumers towards electronics, increased demand for portable electronics like LCDs, tablets, smartphones, and other wearable devices like fitness bands, smartwatches, and others. The Other factors which have contributed to boosting the growth of the global market are accounted due to technological advancements like cost-effectiveness, enhanced efficiency, and product innovation. The other major factor responsible for driving the market is a shift of focus to use eco-friendly technology over fuel-driven automobiles.


However, the global Battery market faces challenges in terms of lack of awareness in rural areas, dynamically hanging prices of the raw material prices, high transportation costs, and others. Strict government authorities’ emission rules, regulations, and norms in developed countries to generate battery powers as it could release harmful emissions in the environment also hampers the market growth.


Study Objectives:


The study objective of the global battery market focus on the changing market dynamics and a study on the factors leading to the shift of conventional fuel-driving automobiles to battery-operated automobiles. The study enlists how the battery is the major component of the new-age electronic devices that can be transported. The study makes notes on the key contenders of the market, region-wise analysis, market strategies, analysis on product trading, value, import-export, global chain analysis, alliances, innovations, trade strategies, market end-users, and the collaborations between the industry vendors to make global dominance.


Segment Overview:


By Type:


The global Battery Market is segmented based on Type as:



  • Primary Battery 

  • Secondary Battery


By Technology:


The global Battery Market is segmented based on Technology as:



  • Nickel-metal Hydride (NiMH) Battery

  • Lead-acid Battery

  • Nickel-cadmium (NiCD) Battery

  • Lithium-ion Battery

  • Nickel–zinc (NiZn) Battery

  • Small Sealed Lead-acid Battery

  • Zinc-manganese Dioxide Battery

  • Flow Battery

  • Sodium–sulfur (NAS) Battery

  • Other Technologies


By Application:


The global Battery Market is segmented based on application:



  • Automotive Batteries: HEV, EV, and PHEV

  • Industrial Batteries: (Motive, Stationary (UPS, Telecom, ESS (Energy Storage Systems), and others)

  • Portable Batteries: Consumer Electronics

  • SLI Batteries

  • Power Tools Batteries


Regional Analysis:


The global Battery Market is segmented based on region as APAC (China, Japan, India), Europe (The U.K., Germany, France), North America (The U.S., Canada, and Mexico), Central America, South America, Argentina, Brazil, The Middle East (UAE, Saudi Arabia), and Africa.


Asia-Pacific region is the market-dominant of the global market. This is majorly due to the high demand for automobiles in the region, rapid urbanization, and industrialization. China holds the dominant place in the Asia-Pacific region in the global market followed by India due to the high rate of production activities of automobiles. With an increase in the segment of consumer electronics, transportable electronics, electric vehicles the market is gaining force in Japan and China.


Rising government initiatives to promote environmental-friendly automobiles and devices have been the driving force of the global battery market in the North American region. Advanced production technologies have driven the market in the European region followed by the rest of the World.


Report Overview:


The report overview of the global battery market focus on the changing market dynamics and a study on the factors leading to the shift of conventional fuel-driving automobiles to battery-operated automobiles. The report shows the segment-wise classification of the global battery industry based on type, technology, and application. The report highlights the key factors driving and restraining the market growth, the revenue collected, and CAGR during the forecast period. The report enlists how the battery is the major component of the new-age electronic devices that can be transported. The report makes notes on the key contenders of the market, region-wise analysis, market strategies, analysis on product trading, value, import-export, global chain analysis, alliances, production facilities, product breadth, capacities, product width, innovations, trade strategies, market end-users, and the collaborations between the industry vendors to make global dominance.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   10.5% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Battery Type and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Exide Technologies (U.S.), Douglas Battery (U.S.), Penn Manufacturing Company, Inc.(U.S.), Johnson Controls Inc(U.S.), The Furukawa Battery Co. ltd (Japan), Zhejiang Haijiu Battery Co. Ltd (China), Chaowei Power Holding ltd (China), CamelGroup (Italy) and Fengfan Co. Ltd.(China)
  Key Market Opportunities   New product launches and R&D Amongst major key players
  Key Market Drivers   Rising demand of hybrid, semi-hybrid and fully electric vehicles


Frequently Asked Questions (FAQ) :


The market is all set to record a notable CAGR of 10.5% in the next few years.

Increasing use of mobiles and laptops, technological advancements, emerging countries, mounting disposable income and government initiatives would ensure that the market size expands magnificently by 2027.

Fengfan Co. Ltd.(China), Penn Manufacturing Company, Inc.(U.S.), CamelGroup (Italy), Douglas Battery (U.S.), The Furukawa Battery Co. ltd (Japan), Chaowei Power Holding ltd (China), Zhejiang Haijiu Battery Co. Ltd (China), Exide Technologies (U.S.), Johnson Controls Inc(U.S.), are the chief players in the market.

Surge in the number of eco-friendly initiatives and the increasing production of technologically advanced vehicles make North America a strong market for battery.

India and China hold the largest share in the APAC market.

Batteries are basically classified into 2 types: Non-rechargeable batteries (primary batteries) and Rechargeable batteries (secondary batteries)

Batteries and electronic devices like TVs, computers and DVD players use DC electricity - once an AC current enters a device, it's converted to DC.