LONDON--(BUSINESS WIRE)--The global battery separator market 2019-2023 is expected to post a CAGR of more than 14% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The rising environmental concerns and increased GHG emissions have compelled several countries to rethink the use of fossil fuels in the transportation sector. Electric vehicles (EVs) are the only possible replacement for fossil-powered vehicles. Thus, several countries are introducing directives to moderate the shift in the automotive industry from diesel and petrol vehicles to EVs. The increasing sales of EVs are driving the demand for batteries, which will significantly contribute to the growth of the battery separator market during the forecast period.
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As per Technavio, the decline in lithium-ion battery cost will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Battery Separator Market: Decline in Lithium-Ion Battery Cost
Lithium-ion batteries are comparatively costlier than lead-acid batteries and account for a significant portion of the cost structure for end-users. However, the manufacturing cost of lithium-ion batteries and battery packs have declined substantially in the past few years due to the improved production scale and manufacturing efficiency. This decline is also attributed to the increased adoption of battery technology by the automotive industry and the development of cost-effective production methods. Thus, the decline in cost will positively impact the growth of the battery separator market value during the forecast period.
“Apart from the decline in lithium-ion battery cost, other factors such as the increasing adoption of microgrids, and the high uptake rate for wet separators in the automotive industry will boost the battery separator market growth during the forecast period,” says a senior analyst at Technavio.
Global Battery Separator Market: Segmentation Analysis
This market research report segments the global battery separator market by type (lithium-ion battery, lead-acid battery, and others) and geographical regions (APAC, the Americas, and EMEA).
The APAC region led the market in 2018, followed by the Americas, and EMEA, respectively. The growth of the battery separator market share in APAC is driven by the rising demand for automobiles and consumer electronics devices, along with strong demand for battery separator from the industrial sector in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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