Global Secondary Battery Market (2022 to 2027) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Secondary Battery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

The secondary battery market was valued at USD 87.82 billion in 2019, and it is anticipated to reach USD 220 billion by 2027, registering a CAGR of more than 15% during 2022-2027.

Companies Mentioned

• BYD Co. Ltd
• Contemporary Amperex Technology Co. Limited
• Duracell Inc.
• EnerSys
• GS Yuasa Corporation
• Clarios
• LG Chem Ltd
• Panasonic Corporation
• Saft Groupe SA
• Samsung SDI Co. Ltd
• Showa Denko K.K.
• Tesla, Inc.
• TianJin Lishen Battery Joint-Stock Co. Ltd

Key Market Trends

Lithium-ion Battery Technology to Dominate the Market

• Among different types of battery technologies, lithium-ion battery (LIB) is expected to dominate the global secondary battery market in latter part of the forecast period, majorly due to its favorable capacity-to-weight ratio. Also, other factors that play an important role in boosting the LIB adoption include better performance, higher energy density, and decreasing price.
• Due to its high energy density, the price of lithium-ion batteries have decreased considerably from USD 668/kWh in 2013 to USD 123/kWh in 2021, making it a lucrative choice among all the batteries.
• Lithium-ion batteries have traditionally been used mainly in consumer electronic devices, such as mobile phones, notebooks, and PCs. Still, they are increasingly being redesigned for use as the power source of choice in hybrid and the complete electric vehicle (EV) range, owing to factors, such as low environmental impact, as EV does not emit any CO2, nitrogen oxides, or any other greenhouse gases.
• Moreover, LIB manufacturing facilities are majorly located in Asia-Pacific, North America, and Europe. Major market players, such as BYD Company Limited and LG Chem Ltd, have plans to set up new manufacturing facilities in the Asia-Pacific region, primarily in India, China, and South Korea.
• Therefore, based on the above-mentioned factors, lithium-ion battery technology is expected to dominate the global secondary battery market during the forecast period.

Asia-Pacific to Dominate the Market

• Asia-Pacific region has multiple growing economies with substantial natural as well as human resources, with China and India expected to be major investment hotspots for secondary battery companies in coming years, on account of policy-level support from the governments for both renewables and EVs and a growing middle-class population creating demand for consumer electronics.
• India has been witnessing a surge in manufacturing batteries locally, owing to the government's thrust on e-mobility. The Indian government aims to achieve a 30% electric fleet by 2030 and has been formulating policies and programs to achieve the target, such as, in 2021, the government amended the ongoing FAME-II (Faster Adoption and Manufacturing of Electric Vehicles-II) scheme to increase the subsidy rate for electric vehicles from INR 10,000/kWh to INR 15,000/kWh to reduce the gap between petrol powered two-wheelers and electric powered.
• China was the largest electric car market and sold more than 1.16 million electric vehicles accounting for almost 40% of the global electric car sales in 2020 and is expected to remain the world's largest EV market. The adoption of EVs in the country is further being propelled by the development of charging infrastructure. According to the IEA, China aims to deploy 1,200 stations for swapping batteries and 500,000 publicly accessible chargers in order to serve 5 million EVs by 2020. Apart from EVs, increasing penetration of telecommunication services indicates a higher demand for secondary batteries, for instance mobile internet penetration reached 66.9% at year-end 2020.

Key Topics Covered:

1 INTRODUCTION

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecast in USD billion, till 2027

4.3 Recent Trends and Developments (including Ongoing R&D Activities in the Battery Market)

4.4 Battery/Raw Material Price Trends and Forecast (in USD per kWh or USD per metric ton), by Major Technology Type, till 2027

4.5 International Trade Statistics (Import/Export Data) in USD million, by Major Technology Type, by Major Countries, till 2020

4.6 Market Dynamics

4.6.1 Drivers

4.6.2 Restraints

4.7 Supply Chain Analysis

4.8 Porter's Five Forces Analysis

4.9 Assessment of COVID-19 Impact on the Industry

5 MARKET SEGMENTATION

5.1 Technology

5.2 Application

5.3 Geography

5.3.1 North America

5.3.2 Asia-Pacific

5.3.3 Europe

5.3.4 South America

5.3.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by Leading Players

6.3 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/rcanaz.