LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global battery market and the market is poised to experience spend growth of more than USD 30 billion between 2017-2022 at a CAGR of over 7% during the forecast period. Request Free Sample Pages.
Read the 70-page research report with TOC and LOE on "The Global Battery Market, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
The need for environment-friendly transport is driving the adoption of battery-driven cars in the automotive industry, which in turn is boosting battery procurement across the globe. Rechargeable batteries are dominating the market due to their longer life span compared with primary batteries.
APAC is accounting for the largest share of the global battery market in 2017 due to increased adoption and use of two-wheelers (where batteries are extensively used) in countries such as India and China.
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Insights into the market price trends
- R&D costs are expected to increase during the forecast period as suppliers are focusing on manufacturing batteries that are light weight and small in size. This will impact battery procurement prices.
- Prices of raw materials such as lead and lithium) will account for a significant portion of the overall supplier cost structure. This is expected to impact battery procurement prices for buyers.
Insights into strategies that will help buyers optimize their battery procurement spend
- Buyers should engage with suppliers that have adopted commodity risk management strategies such as hedging to eliminate price risk while procuring raw materials from their vendors. This will ensure the procurement of raw materials at the correct price, which in turn will keep the production cost of suppliers in control.
- It is advised that buyers procure from global suppliers who have a regional/local presence to reduce delivery timelines and save on transportation and logistics costs, as this will minimize their supply chains in terms of distance from supplier facilities. This will be effective to reduce battery procurement costs to a significant extent.
COVID-19 Impact Assessment and Market Insights
SpendEdge’s reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and latest market data to help your company overcome sourcing challenges. Our Battery Procurement Market Intelligence Report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights in the best procurement practices to mitigate losses.
To stay on top of latest trends and supply market information, check out SpendEdge’s knowledge center on COVID-19 impact assessment.
The top battery suppliers enlisted in this report
This battery procurement market intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
- General Electric
- Johnson Controls
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Some of the key topics covered in this report are:
- Battery market spend segmentation by region
- Battery supply market analysis
- Battery procurement best practices
- Regional spend opportunity for battery suppliers
- Battery suppliers cost structure
- Total cost of ownership analysis in the battery market
- Battery suppliers pricing models analysis
- Category management objectives to promote an optimized battery procurement
- Cost saving opportunities in the battery market
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