Table of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.2 Research Objective
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
4.2 Lead acid
4.3 Lithium ion
4.4 Nickel metal hydride
4.5 Nickel cadmium
5 Global Battery market, By Application
6 Regional Market Analysis
6.2 North America
6.3.5 Rest of Europe
6.4.4 Rest of Asia-Pacific
6.5 Rest of the World
7 Competitive Analysis
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
7.3.2 Battery Type/Service Offering
7.4 Douglas Battery
7.4.2 Battery Type/Service Offering
7.5 East Penn Manufacturing Co.
7.5.2 Battery Type/Service Offering
7.6 Johnson Controls Inc
7.6.2 Battery Type/Service Offering
7.6 The Furukawa Battery Co. ltd
7.6.2 Battery Type/Service Offering
7.7 Zhejiang Haijiu Battery Co. Ltd
7.7.2 Battery Type/Service Offering
7.9 Chaowei Power Holding ltd
7.9.2 Battery Type/Service Offering
7.10.2 Battery Type/Service Offering
7.11 Fengfan Co. Ltd
7.11.2 Battery Type/Service Offering
LIST OF TABLES
TABLE 1 GLOBAL BATTERY MARKET, BY BATTERY TYPE
TABLE 2 GLOBAL BATTERY MARKET, BY APPLICATION
TABLE 3 GLOBAL BATTERY MARKET, BY REGIONS
TABLE 4 NORTH AMERICA BATTERY MARKET, BY BATTERY TYPE
TABLE 5 NORTH AMERICA BATTERY MARKET, BY APPLICATION
TABLE 6 U.S. BATTERY MARKET, BY BATTERY TYPE
TABLE 7 U.S. BATTERY MARKET, BY APPLICATION
TABLE 8 CANADA BATTERY MARKET, BY BATTERY TYPE
TABLE 9 CANADA BATTERY MARKET, BY APPLICATION
TABLE 10 EUROPE BATTERY MARKET, BY BATTERY TYPE
TABLE 11 EUROPE BATTERY MARKET, BY APPLICATION
TABLE 12 GERMANY BATTERY MARKET, BY BATTERY TYPE
TABLE 13 GERMANY BATTERY MARKET, BY APPLICATION
TABLE 14 FRANCE BATTERY MARKET, BY BATTERY TYPE
TABLE 15 FRANCE BATTERY MARKET, BY APPLICATION
TABLE 16 U.K. BATTERY MARKET, BY BATTERY TYPE
TABLE 17 U.K. BATTERY MARKET, BY APPLICATION
TABLE 18 REST OF EUROPE BATTERY MARKET, BY BATTERY TYPE
TABLE 19 REST OF EUROPE BATTERY MARKET, BY APPLICATION
TABLE 20 ASIA-PACIFIC BATTERY MARKET, BY BATTERY TYPE
TABLE 21 ASIA-PACIFIC BATTERY MARKET, BY APPLICATION
TABLE 22 ROW BATTERY MARKET, BY BATTERY TYPE
TABLE 23 ROW BATTERY MARKET, BY APPLICATION
LIST OF FIGURES
FIGURE 1 RESEARCH METHODOLOGY
FIGURE 2 GLOBAL BATTERY MARKET: BY BATTERY TYPE (%)
FIGURE 3 GLOBAL BATTERY MARKET: BY APPLICATION (%)
FIGURE 4 GLOBAL BATTERY MARKET: BY REGION
FIGURE 5 NORTH AMERICA BATTERY MARKET, BY BATTERY TYPE (%)
FIGURE 6 NORTH AMERICA BATTERY MARKET, BY APPLICATION (%)
FIGURE 7 EUROPE BATTERY MARKET, BY BATTERY TYPE (%)
FIGURE 8 EUROPE BATTERY MARKET, BY APPLICATION (%)
FIGURE 9 ASIA-PACIFIC BATTERY MARKET, BY BATTERY TYPE (%)
FIGURE 10 ASIA-PACIFIC BATTERY MARKET, BY APPLICATION (%)
FIGURE 11 ROW BATTERY MARKET, BY BATTERY TYPE (%)
FIGURE 12 ROW BATTERY MARKET, BY APPLICATION (%)
The Battery Market Growth is expected to reach 10.5% CAGR. Also, the Battery Market Revenue is anticipated to expand up to USD 280 Billion by the studied forecast period 2021-2028. Batteries are essential devices that are primarily used in the automotive industry. They are used for providing electric energy to automobiles for lighting, ignition, etc. Furthermore, a wide variety of vehicles have crucial features like hybridisation and high electrification degree.
Therefore, due to the growing Battery Market Opportunities, the demand for better electric vehicles will increase. As a result, the revenue is also evaluated to increase drastically. Apart from that, the Asia-Pacific region is expected to dominate the market in the future years.
The coronavirus pandemic has led to significant economic disruption across several countries worldwide. Due to this, social gatherings travelling, etc., were restricted. As a result, important industries, including the automotive sector, suffered drastically. In addition, the supply of batteries was restricted as they are primarily transported from China. Hence, the demand and supply reduced the import and export of raw materials.
The increasing demand for transportation and electronic vehicles is a prominent driver for Battery Market. Along with that, incentives provided by the government and fuel saving with the use of electronic vehicles will further drive the market growth. Also, the development of new electric and hybrid automotive vehicles from the OEMs is anticipated to boost the market growth. Furthermore, several other factors, such as increased efficiency, cost-effectiveness, etc., will further fuel the market growth.
The safety issues associated with battery usage is expected to be a significant restraint for the market growth. Along with that, the poorly developed infrastructure for manufacturing and supply of electronic vehicles can further hamper the Battery Market Demand in the studied forecast period.
Furthermore, several Battery Market Opportunities are anticipated to improve the market growth. The rising demand for electronic and hybrid vehicles will offer new opportunities for the market. Also, the development and research for these vehicles will further fuel the market growth in the upcoming years.
There are several challenges expected to restrain the market growth in the forecast period. First, the initial costs of these vehicles are high, and they are also available in a limited range. Along with that, the volatile price of oil can also challenge the Battery Industry to grow.
The Compound Annual Growth Rate (CAGR) of the Battery Industry is projected to touch up to 10.5%. Along with that, the revenue of the market is also anticipated to increase up to USD 280 billion by the studied forecast period 2022-2030. Since the past several years, the demand for batteries in the automotive sector has increased significantly. Thus, the market is evaluated to experience significant growth.
Additionally, the Battery Market Forecast suggests that the value chain of the market will improve with the growing awareness among consumers. However, the market is still trying to overcome the financial disruption caused by the coronavirus pandemic. Apart from that, the ever-increasing demand for portable electronics such as smartphones, tablets, LEDs, LCDs, and wearable devices like smartwatches, fitness bands, etc., are anticipated to improve the value chain of the Battery Industry.
As per the Battery Market Reports, the market is segmented into technology, type, and application. Based on application, the market is segmented into SLI Batteries, Automotive Batteries, Portable Batteries, Industrial Batteries, and Power Tool Batteries. The automotive batteries are further segmented into PHEV, HEV, and EV. The portable batteries are again divided into consumer electronics. Along with that, the industrial batteries are segmented into Stationary, Motive and Others.
Based on technology, the Battery Industry is divided into Lead-acid Battery, Flow Battery, Nickel-metal Hybrid Battery, Small Sealed Lead-acid Battery, Sodium-sulfur Battery, Zinc-manganese dioxide battery, Lithium-ion battery, Nickel-ion battery, and others.
Based on the type, the Battery Industry is again divided into Secondary Battery and Primary Battery.
On the basis of region, the Battery Market is divided into North America, Asia-Pacific, South and Central America, Europe and the Middle East and Africa. According to Battery Market Analysis, the Asia-Pacific region is expected to dominate the market in the future years. Due to the increasing demand for industrialisation and automobiles, the market will expand. Major countries such as India and China hold a strong position in the market growth.
Along with that, rising initiatives by the government and promoting environmentally friendly devices and vehicles by the governments in North America are also expected to have significant growth. Furthermore, the use of advanced technologies in the European region will also have a considerable impact. However, the Middle East and African region are also considered to experience substantial Battery Market Growth.
The Key Players apply various business strategies to expand their business. For example, they do mergers, partnerships, collaborations, new ventures, etc., with other companies. Hence, they have a significant role in uplifting the economy and market growth.
The key players in Battery Industry are as follows.
China alone in 2019 sold around 1.06 million electronic vehicles. Also, this growth will increase further in the upcoming years. Thus, it is expected that China will hold above 560% of the share globally in exporting electric cars.
Also, the US will sell above 45000 hybrid electric vehicles in 2020. This included luxury touring vehicles around 3000 and cars above 18000. Thus it has increased the Market Revenue by 44.7%.
The overview of the Battery Market Report is listed below.
Report Score and Segmentation
|Market Size||2030: Significant Value|
|CAGR||10.5% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|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.