Battery Market 2021 SWOT Analysis, Top Key Company Profiles and Latest Trends

 The global battery market size is expected to reach USD 326.01 billion by 2028 according to a new study by Polaris Market Research. The report “Battery Market Share, Size, Trends, Industry Analysis Report, By Type (Lead Acid, Lithium-Ion, Nickel Metal Hydride, Nickel Cadmium, Others); By End-Use; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The UPS market is expected to witness substantial growth over the forecast period, in light of the growing demand for high power range systems. The increasing trend towards the adoption of UPS systems as an essential power backup device is expected to favorably impact the industry growth for batteries over the forecast period.

 

The increasing demand for energy storage systems (ESS) is expected to augment the industry demand over the forecast period. ESS utilizes batteries considering recyclability, high power delivery, and economic nature. Lead-acid batteries are the most commonly used battery types for ESS owing to applications.

 

Get Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/battery-market/request-for-sample

 

These applications include stand-alone systems with PV, emergency power supply systems, and battery systems for mitigation of output fluctuations from wind and solar power. Furthermore, lead-acid batteries are lower in cost when compared with other alternatives and are expected to witness industry growth over the upcoming years.

 

The battery value chain consists of raw material manufacturers, producers, distributors, and end-use industries. Batteries are commercially available for easy and direct application in various sectors including automotive, UPS, telecom, and industrial.

 

There are two types of batteries including primary and secondary. Primary batteries are the ones that can be used only once whereas secondary batteries can be charged and reused. Various batteries include lead-acid, nickel-cadmium, lithium-ion, nickel-metal hydride, and alkaline.

 

Several characteristics of nickel-metal hydride batteries including high energy density, longer lifetimes, and ease of recharging ability, its utilization is expected to increase significantly during the forecast period. Furthermore, nickel-metal hydride batteries are considered as one of the key substitutes to nickel-cadmium batteries, owing to the environmental hazards resulted due to the presence of cadmium.

 

If you have any query regarding the report, ask our experts: @ https://www.polarismarketresearch.com/industry-analysis/battery-market/speak-to-analyst

The Asia Pacific is expected to witness significant growth mainly in China, Japan, India, and various other countries on account of the expansion of the manufacturing base. In addition, the presence of big market players including Toyota Industries, Komatsu Limited, and Nissan Motor Company is expected to create immense industry potential over the forecast period.

 

Polaris Market Research has segmented the battery market report on the basis of type, end-use, and region:

 

Battery by Type Outlook (Revenue – USD Million, 2016 – 2028)

• Lead Acid
• Lithium-Ion
• Nickel Metal Hydride
• Nickel Cadmium
• Others

Battery by End-Use Outlook (Revenue – USD Million, 2016 – 2028)

• Automotive
• Industrial
• Consumer Goods
• Others

Battery by Regional Outlook (Revenue – USD Million, 2016 – 2028)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • UK
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East & Africa

Read More :

https://www.prnewswire.com/news-releases/electronic-thermal-management-materials-market-size-worth-10-04-billion-by-2028--cagr-8-9--polaris-market-research-301269761.html

https://www.medgadget.com/2021/04/fluid-management-system-market-size-is-projected-to-reach-23-2-billion-by-2028-exclusive-study-by-polaris-market-research.html

 

 

Battery Market Trends Report | SWOT Analysis | 2020-2026

 The global Battery Market is anticipated to grow at a CAGR of 11.3% from 2020 to 2026 according to a new research published by Polaris Market Research. In 2019, the consumer electronics segment accounted for the highest market share in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global Battery market revenue in 2019.

 

The demand for smartphones and other mobile devices is increasing worldwide, promoting the growth of the Battery market. The growing use of batteries in varied industries such as aerospace and defense, healthcare, and electronics has accelerated the battery market growth. Increasing disposable incomes in developing countries, rising living standards, and growing environmental concerns foster the Battery market growth. The demand for battery electric vehicles has increased significantly over the years owing to increasing prices of gasoline across the globe, resulting in increased adoption of batteries. The exponential growth in the prices of gasoline and diesel owing to the depleting fossil fuel reserves has encouraged consumers to switch to battery electric vehicles, thereby supporting the battery market growth. Leading global players are expanding their presence in developing nations of China, japan, India, Indonesia, and Malaysia to tap the battery market growth opportunities offered by these countries.

 

Get Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/battery-market/request-for-sample

 

There has been a significant reduction in the prices of Li-ion batteries over the years, which drives the growth of the battery market. Most electric vehicles are equipped with Li-ion batteries. The prices of lithium-ion batteries have fallen by nearly half since 2014. Declining battery prices in turn result in lower prices of battery electric vehicles. According to the Institute for Energy Research, the cost of a Tesla battery pack in the current scenario is $190 per kWh. It is predicted that the cost would reach $100 per kWh by 2020, significantly increasing the market share of battery electric vehicles as well. The increasing production volume of batteries, and increasing adoption of batteries in electric vehicles and hybrid electric vehicles have resulted in reduced costs of batteries.

 

Asia-Pacific generated the highest Battery market revenue in 2019, and is expected to lead the global Battery market throughout the forecast period. The growing population, rising disposable incomes, and increasing penetration of mobile devices has increased the Battery market growth in the region. The increasing demand of batteries from industries such as healthcare, automotive, electronics, and defense among others, coupled with growing acceptance of green technology and electric vehicles drives the Battery market growth in the region.

 

The well-known companies profiled in the Battery market report include BYD Company Limited, Duracell, Eveready Industries, Johnson Controls, Exide Technologies, LG Chem Limited, Sony Corporation, NEC Corporation, Panasonic Corporation, Toshiba Corporation, Samsung SDI Company Limited, and EnerSys. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

If you have any query regarding the report, ask our experts: @ https://www.polarismarketresearch.com/industry-analysis/battery-market/speak-to-analyst

 

Battery Market Current Industry Figures with Forecasts Growth By 2026

The global Battery Market is anticipated to grow at a CAGR of 11.3% from 2020 to 2026 according to a new research published by Polaris Market Research. In 2019, the consumer electronics segment accounted for the highest market share in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global Battery market revenue in 2019.

The demand for smartphones and other mobile devices is increasing worldwide, promoting the growth of the Battery market. The growing use of batteries in varied industries such as aerospace and defense, healthcare, and electronics has accelerated the battery market growth. Increasing disposable incomes in developing countries, rising living standards, and growing environmental concerns foster the Battery market growth. The demand for battery electric vehicles has increased significantly over the years owing to increasing prices of gasoline across the globe, resulting in increased adoption of batteries. The exponential growth in the prices of gasoline and diesel owing to the depleting fossil fuel reserves has encouraged consumers to switch to battery electric vehicles, thereby supporting the battery market growth. Leading global players are expanding their presence in developing nations of China, japan, India, Indonesia, and Malaysia to tap the battery market growth opportunities offered by these countries.

Get Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/battery-market/request-for-sample

There has been a significant reduction in the prices of Li-ion batteries over the years, which drives the growth of the battery market. Most electric vehicles are equipped with Li-ion batteries. The prices of lithium-ion batteries have fallen by nearly half since 2014. Declining battery prices in turn result in lower prices of battery electric vehicles. According to the Institute for Energy Research, the cost of a Tesla battery pack in the current scenario is $190 per kWh. It is predicted that the cost would reach $100 per kWh by 2020, significantly increasing the market share of battery electric vehicles as well. The increasing production volume of batteries, and increasing adoption of batteries in electric vehicles and hybrid electric vehicles have resulted in reduced costs of batteries.

Asia-Pacific generated the highest Battery market revenue in 2019, and is expected to lead the global Battery market throughout the forecast period. The growing population, rising disposable incomes, and increasing penetration of mobile devices has increased the Battery market growth in the region. The increasing demand of batteries from industries such as healthcare, automotive, electronics, and defense among others, coupled with growing acceptance of green technology and electric vehicles drives the Battery market growth in the region.

The well-known companies profiled in the Battery market report include BYD Company Limited, Duracell, Eveready Industries, Johnson Controls, Exide Technologies, LG Chem Limited, Sony Corporation, NEC Corporation, Panasonic Corporation, Toshiba Corporation, Samsung SDI Company Limited, and EnerSys. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

If you have any query regarding the report, ask our experts: @ https://www.polarismarketresearch.com/industry-analysis/battery-market/speak-to-analyst