Global Battery Market Research Report - Forecast to 2023

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Global Battery Market Industry Challenges, Key Vendors, Drivers, Trends and Forecast to
Market Research Future Published a Half Research Report on Global Battery Market that
contains the information from 2017 to 2023. Batteries market is expected to grow with the
CAGR of about 4% from 2017 to 2023. Increasing demand of hybrid, semi-hybrid and fully
electric vehicles as well as technological advancement & innovation will drive the Batteries
Market Highlights
Rise in demand for electronic devices such as smartphones and tablets as well as government
regulations to reduce the pollution are some of the major factor which drives the demand for the
growth of battery market. Additionally, increasing demand for electric vehicles also pushing the
battery market towards growth. Automotive batteries are rechargeable batteries that supply
electric energy to automobiles. With the continuous rise in production and sales of automobiles,
the global automotive battery market has been witnessing increase in sales. Furthermore,
constant increase in the demand for electricity and depletion of fossil fuels have encouraged
countries across the globe to focus more on the generation of electricity through renewable
energy sources.
The market has analyzed the market based on battery types, applications and end-uses in the
regions of North America, Europe, APAC and rest of the world. On the basis of battery types it
includes lead acid, lithium ion, nickel metal hydride and nickel cadmium. Lithium ion is one of
the largest segments by battery type. Lithium-ion battery is a kind of rechargeable battery, which
is used in various industries and comes with a great life cycle with the high energy density. On
the basis of applications it includes portable, automotive and industrial. Automotive segment
holds the largest segment. Automobile segment is witnessing continuous expansion, especially
in developing economies and, thus impacting the battery market positively. The new fuel-saving
technologies such as micro hybrid systems are also leading to higher battery usage.
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Key Players
The leading players in the battery market are
Exide Technologies (U.S.),
Douglas Battery (U.S.),
Penn Manufacturing Company, Inc.(U.S.),
Johnson Controls Inc(U.S.),
The Furukawa Battery Co. ltd (Japan),
Zhejiang Haijiu Battery Co. Ltd (China),
Chaowei Power Holding ltd (China),
CamelGroup (Italy)
Fengfan Co. Ltd.(China)
Lithium ion dominates the battery type segment of global battery market
Lithium-ion batteries are now widely implemented as the power or energy source for everything
from portable electronics to electric vehicles. Lithium-ion batteries offer high storage capacity,
better efficiency and longer life than other batteries. The demand for these batteries is
increasing in various applications such as consumer electronics products and automotive
application. Lithium-ion batteries are widely implemented as the power or energy source for
everything from portable electronics to electric vehicles. The rising demand for electronic
devices and the stringent government regulations to control pollution level, are expected to drive
the lithium-ion battery market during the forecast period.
Market Research Future Analysis:
There are many elements that hold the growth of global battery market. Contribution to the
global industrial scenario is estimated to increase significantly in the forecast period. Asia-
Pacific is dominating the battery market due to factors such as growing demand from
automobile and industrial sectors. Moreover, steady growth in domestic production and exports
of automobiles coupled with expanding vehicle fleet is projected to drive demand for batteries.
Additionally, rising penetration of two-wheelers in semi urban and rural India is projected to
surge replacement demand for two-wheeler batteries during the forecast period.