Global Battery Packaging Market To Expand With Rising Demand for Consumer Electronic Goods By A Robust CAGR Throughout 2020-2028

Research Nester has released a report titled “Battery Packaging Market – Global Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

Technological advancements in the recent era has changed the way how consumers experienced electrical goods. The back-to-back launch of numerous consumer electrical products that run on batteries on the back of technological advancements, such as, smart speakers that not just plays music, but also acts as a personal assistant to the consumer, the development of juice pack access portable battery cases, that is not just a mobile case, but also works as a source of power source for the mobile phone, and several others. Growing acceptance of technologically advanced products amongst consumers that run on batteries is anticipated to raise the need amongst product manufacturers to deploy more batteries that vary in its form, size and shape, impacting the demand for greater supply of batteries in various forms. Such factors are anticipated to contribute significantly towards the growth of the global battery packaging market.

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The global battery packaging market is anticipated to record a robust CAGR during the forecast period, i.e. 2020-2028. The market is segmented by battery type into lithium-ion and lead-acid. Among these segments, lithium-ion battery segment is anticipated to hold the largest market share on account of increasing demand for energy storage devices that run on battery as a power source, for instance e-bikes, e-vehicles, smartphones, laptops and other electrical consumer goods. The growth of the segment is also anticipated to be backed by the growing global lithium-ion battery market by a CAGR of 16.2% over the forecast period 2018-2027 and a market value of USD 72.3 billion by 2027. The Consumer Survey (December 2018) statistical report of Statistics Finland stated that 98.9% share was contributed by mobile phone, which is the largest share of equipment that prevailed in households in Finland for the month of November 2018.

Geographically, the global battery packaging market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, Asia Pacific is anticipated to hold the largest market share on account of numerous battery manufacturers present in the region coupled with nations such as China, where the exports for consumer electronic products are the highest around the globe.

However, concerns for lowering demand for battery packaging on the back of lower sales of batteries, impacted by high cost of sustainable technologies is estimated to act as a barrier to the growth of the global battery packaging market.

This report also studies existing competitive scenario of some of the key players of the global battery packaging market, which includes profiling of Nefab Group, Manika Moulds Pvt. Ltd., AllCell Technologies LLC, Zarges Group, Heitkamp & Thumann Group, Targray Technology International Inc., Rogers Corporation (NYSE: ROG), DS Smith (LON: SMDS), Excell Battery Co., and Mangal Industries Ltd. (Amara Raja Group).

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Battery Packaging Market – Global Demand Analysis & Opportunity Outlook 2028”, analyses the overall battery packaging industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global battery packaging market in the near future.

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This release was published on openPR.