Rise in Consumption of Mobiles & Laptop is Set to Drive Global Batteries Manufacturing Market Over the Forecast Period: Ken Research
Battery is a collection of one or more cells whose chemical reactions generate a flow of electrons in a circuit. It provides the electric energy to automobile vehicles for starting, lighting and ignition. Some essential properties are durability, low maintenance costs, dependability, and high discharge rate capability.
According to study, “Batteries Manufacturing Global Market Report 2019” the key companies operating in the global batteries manufacturing market are Panasonic Corporation, GS Yuasa Corporation, Fengfan Co. Ltd., Chaowei Power Holding Ltd., Zhejiang Haijiu Battery Co. Ltd., EnerSys Ltd., East Penn Manufacturing Co Inc., Lithium Werks BV, Exide Technologies, East Penn Manufacturing Co., Douglas Battery, GS Yuasa International Ltd., Toshiba Corporation, The Furukawa Battery Co. Ltd., Wanxiang Group Corporation, CamelGroup, Contemporary Amperex Technology Co. Limited, Duracell Inc., BYD Co. Ltd, Johnson Controls International plc, LG Chem Ltd, Saft Groupe S.A., Sony Corporation, Samsung SDI Co. Ltd, CBAK Energy Technology, Inc., Tesla, Inc., TianJin Lishen Battery Joint-Stock Co. Ltd. Based on type, the global batteries manufacturing market is segmented into primary battery and secondary battery.
Primary batteries are non-rechargeable, also known as disposable batteries while secondary batteries are rechargeable or storage batteries. Based on component, market is segmented into anode, cathode, electrolytic solution, and others. Based on technology, market is segmented into lead-acid battery, nickel-metal hydride (NiMH) battery, lithium-ion battery, nickel–zinc (NiZn) battery, nickel-cadmium (NiCd) battery, sodium–sulfur (NaS) battery, flow battery, small sealed lead-acid battery, zinc-manganese dioxide battery and other technologies (zinc-carbon battery, dual carbon battery, silver-oxide battery, etc.). Based on application, market is segmented into automotive batteries (HEV, PHEV, and EV), power tools batteries, portable batteries (consumer electronics), and industrial batteries (motive, stationary (telecom, Energy Storage Systems (ESS), UPS etc.). In addition, based on end-use industry, market is segmented into automotive (scooters & bikes, cars and buses or trucks, trains & aircrafts), electrical & electronics (UPS, smart-phones & tablet or PC), and industrial (mining equipment, cranes & forklift and smart grid & renewable energy storage).
The global batteries manufacturing market is driven by rise in demand of hybrid, semi-hybrid and fully electric vehicles, followed by increase in adoption rate of batteries in passenger vehicles, rise in consumption of mobiles & laptop, rise in disposable income, emerging economies, increase in technological innovations and rise in government initiatives to replace fuel vehicle over battery vehicles. However, safety issues related to battery usage and cost involved may impact the growth of market. Moreover, in recent point in time energy efficient batteries are used in new gadgets which are further adding major opportunity to the market.
Based on geography, Asia-Pacific region holds the largest market share of global battery manufacturing market owing to increase in battery demand in developing countries such as India and China. In this region, the market is driven by rise in research & development institutions, escalating adoption & utility of electric vehicles, investments made by the private organizations, and coupled with initiatives taken by the multinational organizations focused on developing batteries. North America region is expected to witness considerable growth due to production of technologically advanced vehicles and rise in eco-friendly initiatives over the forecast period.
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Ankur Gupta, Head Marketing & Communications