Boosted by Expansion of Automotive Sector Global Battery Market by Transport Exhibits Impressive Growth

Government moves encouraging the use of clean energy in vehicles have created an environment conducive to the growth of the global battery market by transport. MarketResearchReports.biz has recently added a study, titled “Global Battery Market by Transport (Automotive, Marine, E-Bikes, Forklift), Regions, Battery Types (Lithium-ion, etc), Companies,” which provides a detailed overview of the various factors backing the market’s growth. The report compiles exhaustive information derived from industry-leading sources. The report also includes recommendations to enable the market players capitalize on the most lucrative opportunities.

Growth witnessed in the automotive sector will catapult the global battery market by transport. Besides this, fair subsidies offered in several countries have largely aided in improving the market’s overall production capacity. Additionally, the advent of lithium-ion batteries has offered lucrative prospects for the market’s growth. Lithium-ion batteries are increasingly included in vehicles to amplify their performances. These batteries have fast-charging capabilities, which is a key feature attracting e-vehicle manufacturers, thus creating lucrative prospects for the market. As per the report, prices of lithium-ion batteries are likely to drop in response to their increasing demand. The market is also witnessing a steady demand for lead acid batteries, however, the segment is gradually inching towards maturity. Nonetheless, they are still very much in use in the automotive sector due to their low price as compared to their lithium-ion counterparts.

In order to present a comprehensive overview, the report segments the global battery market by transport based on various parameters. For instance, based on the mode of transportation, the market can be classified into marine, automotive, forklift, and e-bike. Of these, automotive has emerged as a key segment. Besides this, the experts foresee lucrative prospects for battery manufacturers in the marine segment. However, there is still much scope for research and development in this sector due to the involvement of various risks. Nonetheless, the use of battery in automotive and e-bikes will persistently rise thus steering growth in the battery market by transport in the forthcoming years.

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Regionally, the global battery market by transport is segregated into Asia Pacific, Western Europe, Eastern Europe, Latin America, the Middle East and Africa, and North America. Among these regions Asia Pacific is likely to show highly lucrative prospects for the market’s growth, as per the study. The expansion of automotive industry in Asia Pacific will therefore augur well for the market. Furthermore, rising disposable income of consumers is expected to fuel the demand for high-performing vehicles, which in turn is expected to create attractive opportunities for the market’s growth in the coming years.

Furthermore, in terms of battery the report segments the global market into nickel metal hydride battery, lithium-ion batteries, and others. In addition, the report also gauges the trajectory of lead acid battery segment in the market.

Besides analyzing factors enabling the market’s growth or those restricting its pace across the aforementioned segments, the report also profiles some of the most prominent players operating in the global battery market by transport. This is intended to evaluate the core strengths and weaknesses of the companies profiled. Furthermore, opportunities and threats awaiting the market players are also estimated in this section of the study. According to the report BYD Corporation, Continental AG, Sanyo Panasonic, Exide Technology, Amperex Technology Limited (ATL), Samsung SDI, and LG Chemical are some of the leading names in the global battery market by transport.

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