Battery Components Market to grow at a booming CAGR of 16.3% by 2028 | Top Players - Enersys, BYD Co. Ltd., Lishen Battery, East Penn Manufacturing

The Global Battery Components Market is projected to reach USD 236.39 billion by 2028 at a CAGR of 16.3% during the forecast period.

A battery is a device that stores electrical energy in the form of chemical energy and converts it into electricity. There are several kinds of batteries. However, they work under the same underlying concept and possess the same three main components, namely, anode, cathode, and electrolyte. For the discharge of electricity, anode releases electrons to the negative terminal and ions in the electrolyte through the oxidation reaction. The positive terminal accepts the electrons and completes the circuit for the flow of electrons. The electrolyte acts as a medium for the electrons to travel and provide for contact between the two.

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There are mainly two types of batteries, namely, primary and secondary. Primary batteries are for single-use and cannot be recharged while secondary batteries can be recharged. The most common type of secondary battery is the lithium-ion battery, which is used in a wide range of electronic items such as mobile phones, toys, etc. Battery components for lithium-ion batteries hold the highest share of the market due to their use in mobile phones. The mobile phone industry is growing at a high rate with new technologies being researched to make long-lasting lithium-ion batteries. Moreover, lithium-ion battery that falls under the secondary battery type segment is expected to witness the highest growth during the forecasting period due to the increasing popularity of electric vehicles, which use lithium-ion batteries to generate electric energy that is converted into mechanical energy to power engines.

What Does This Report Provide?
This report provides a detailed understanding, from qualitative and quantitative perspectives over the forecasted period. The study also offers competitive metrics with probable impacts during the duration of prediction on the demand and comprehensive analysis of the leading companies in this market.

The market report monitors the size of demand for key product types and application patterns that affect the sales shares of different products in key regions. The report provides insights into the revenues and volumes generated by key end-users.

Market Segmentation:
By Component Type:
o Anode
o Cathode
o Electrolyte
o Others

By Battery Type:
o Primary
o Alkaline
o Others
o Secondary
o Lithium-Ion
o Lead Acid
o Nickel Metal Hydride
o Nickel Cadmium
o Others

This study focuses on the key stakeholders in the market. Regions covered in the study include North America, Asia-Pacific, Western Europe, Eastern Europe, Middle East and Rest of the World.

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Key Developments:

o In July 2017, SII Semiconductor Corporation, a subsidiary of Seiko Instruments Incorporated, introduced S-8223A/B/C/D series integrated circuits for the protection of lithium-ion secondary batteries.

o In November 2017, Samsung Advanced Institute of Technology (SAIT) developed a battery material called graphene ball, which enables a 45% increase in capacity and charges 5 times faster than conventional lithium-ion batteries.

o In January 2018, Contemporary Amperex Technology Co Ltd (CATL) announced to invest USD 2 billion in Shenzhen, to build two battery plants, including a giant 24 GWh facility, which will boost its output.

Major Companies Operating in the Market
o Enersys
o BYD Co. Ltd.
o Lishen Battery,
o East Penn Manufacturing
o Exide Industries, FIAMM
o LG Chem Ltd
o Sanyo-Panasonic

Customization:
We provide customization of the study to meet specific requirements:
o By Segment
o By Sub-segment
o By Region/Country

Contact:
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Office No- A109
Pune, Maharashtra 411028
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Email: sales@quincemarketinsights.com
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This release was published on openPR.