The global battery market is expected to display a positive market trend over the forecast period of 2019-2027, exhibiting a CAGR of 6.91%.
- The increasing demand for energy storage systems, rising number of electric vehicles, growing demand from automobiles sector and the increasing trend towards adoption of UPS systems are significantly driving the market.
- However, negative impact of lead-acid batteries on the environment and compliance with the battery standards limit the battery market growth.
- Furthermore, widespread usage in the defense & motive industry applications and the rising demand for rechargeable batteries in consumer products provide opportunities for growth of the market.
- Fluctuation in raw material prices, easy availability of counterfeit batteries and development of supercapacitors, are some of the challenges hampering the growth of the battery market.
The battery market spans across major regions of the world, such as, North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
The Asia-Pacific is the fastest-growing battery market, globally, with the highest CAGR. The battery market in APAC is mainly driven by the investments made by the private organizations, escalating adoption & utility of electric vehicles, rising R&D by the research institutions and initiatives taken by the multinational organizations that are focusing on developing batteries.
The robust manufacturing base of the lead-acid battery in China, Japan and India along with the commitment of governments towards infrastructure development, are expected to increase the battery market. Substantial demand for the automotive industry, which is one of the largest end-users of battery, is expected to augment the market growth.
The companies that have been mentioned in the report on the battery market are Toshiba Corporation, Samsung SDI Co., Ltd., Murata Manufacturing Co., Ltd., Shenzhen BAK Battery Co., Ltd., Saft Groupe S.A., Panasonic Corporation, NEC Corporation, Crown Battery Manufacturing Company, Johnson Controls, Hitachi Ltd., GS Yuasa Corporation, Exide Technologies, BYD Company Ltd., Eveready Industries India Ltd., LG Chem Ltd., East Penn Manufacturing Company, Inc., Duracell International, Inc., EnerSys, C&D Technologies, Inc. (acquired by KPS Capital Partner) and A123 Systems.
Hitachi, Ltd. is a Japan-based company engaged in the manufacturing of electrical & electronic products. Through its products & services, Hitachi caters to a broad range of industries, including power, energy & utilities, finance, government, transportation and public & healthcare. It has presence across Asia-Pacific, Europe, North America and Latin America. In April 2016, Hitachi Automotive Systems, Ltd., announced the development of a 48-volt lithium-ion battery for the enhancement of fuel efficiencies in mild hybrid electric vehicles (HEVs). This strategic move was aimed to cater to the growing demand for mild HEVs, especially in the Europe and China vehicle markets.
Key Topics Covered
1. Global Battery Market - Summary
2. Industry Outlook
2.1. Market Definition
2.2. Key Insights
2.2.1. Emergence Of Absorbent Glass Mat (Agm) Batteries
2.2.2. Rise In Organic & Inorganic Growth Strategies By Companies
2.2.3. Battery Technology Disrupting Defence Industry
2.2.4. Development Of Next-Generation Batteries
126.96.36.199. Photosynthesis-Powered Batteries
188.8.131.52. Sodium-Ion Batteries
184.108.40.206. Gold Nanowire Batteries
220.127.116.11. Urine-Powered Batteries
18.104.22.168. Super Battery
2.3. Porter's Five Force Analysis
2.3.1. Bargaining Power Of Buyers
2.3.2. Bargaining Power Of Suppliers
2.3.3. Threat Of New Entrants
2.3.4. Threat Of Substitute
2.3.5. Threat Of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Industry Components
2.7. Regulatory Framework
2.8. Market Drivers
2.8.1. Increasing Demand Of Energy Storage Systems (Ess)
2.8.2. Rising Number Of Electric Vehicles
2.8.3. Increasing Trend Towards Adoption Of Ups Systems As An Essential Power Backup
2.8.4. Growing Demand From Automobiles Sector
2.9. Market Restraints
2.9.1. Compliance With The Battery Standards
2.9.2. Lead-Acid Batteries Negatively Impacting Environment
2.10. Market Opportunities
2.10.1. Widespread Usage In Motive Industry Applications
2.10.2. Rising Demand For Rechargeable Batteries In Consumer Products
2.11. Market Challenges
2.11.1. Development Of Super Capacitors
2.11.2. Fluctuation In Raw Material Prices
2.11.3. Easy Availability Of Counterfeit Batteries
3. Global Battery Market Outlook - By Battery Type
3.1. Lead-Acid Battery
3.2. Lithium-Ion Battery
3.3. Nickel Metal Hydride Battery
3.4. Nickel Cadmium Battery
3.5. Other Batteries
4. Global Battery Market Outlook - By Application
5. Global Battery Market - Regional Outlook
5.1. North America
5.4. Latin America
5.5. Middle East And Africa
6. Competitive Landscape
6.1. A123 Systems
6.2. C&D Technologies (Acquired by KPS Capital Partner)
6.4. Duracell International
6.5. East Penn Manufacturing Company
6.6. LG Chem
6.7. Eveready Industries India
6.8. BYD Company
6.9. Exide Technologies
6.10. GS Yuasa Corporation
6.12. Johnson Controls
6.13. Crown Battery Manufacturing Company
6.14. NEC Corporation
6.15. Panasonic Corporation
6.16. Saft Groupe S.A.
6.17. Shenzhen Bak Battery
6.18. Murata Manufacturing
6.19. Samsung SDI
6.20. Toshiba Corporation
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