Battery Market Demand and Growth Insights 2020 to 2025 | Contemporary Amperex Technology Co. Limited, BYD Co. Ltd, Duracell Inc.

Global Battery Market - Growth, Trends, And Forecast (2020 - 2025)

The battery market is expected to grow at a CAGR of more than 12.31% during the forecast period of 2020-2025.  This report provides along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities, and challenges in the Battery market. This research report offers an in-depth analysis of the market size (revenue), market share, major market segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities, and challenges.

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Key manufacturers are included based on the company profile, sales data, and product specifications, etc.: Contemporary Amperex Technology Co. Limited, BYD Co. Ltd, Duracell Inc., EnerSys, GS Yuasa Corporation, Clarios, LG Chem Ltd, Panasonic Corporation, Saft Groupe S.A., Samsung SDI Co. Ltd, Sony Corporation, Tesla, Inc., and TianJin Lishen Battery Joint-Stock CO.,LTD.

Major factors driving the market include declining lithium-ion battery prices, rapid adoption of electric vehicles, growing renewable sector, and increased sale of consumer electronics. On the other hand, the demand-supply mismatch of raw materials is likely to hinder the market growth.

- The automotive batteries segment is expected to be the fastest growing segment for the battery market, and it is expected to be the leading end-user for lithium-ion battery in upcoming years.
- The number of people without access to electricity in the African region is expected to increase from 588 million in 2016 to about 602 million in 2030, despite efforts to boost electrification through grid connectivity. The Sub-Saharan region, in particular, is expected to be one of the central hotspots for off-grid solar initiatives. As solar energy is an intermittent source and generates power only during the daytime, use of the off-grid solar power in conjunction with energy storage substantially enhances the utilization of solar PV units. As a result, the use of energy storage with solar PV has been gaining popularity in developed countries, which is likely to create huge opportunity for battery market.
- North America and Asia-Pacific are the regional hotspots for the battery market, with countries like the United States, India, and China contributing to its growth.

Automotive Batteries segment set to be the Fastest Growing Segment

- The automotive sector is expected to be one of the major end-user segments for lithium-ion batteries in the near future. The penetration of electric vehicles is anticipated to provide a massive impetus for the lithium-ion battery industry growth.
- A range of different vehicle types is now available globally, featuring increasing degrees of hybridization and electrification. There are various types of vehicles, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles, and electric vehicles (EVs).
- In developed and developing economies, both alike, the adoption of electric vehicles is increasing at a high growth rate. The United States and China are already leading in global EV sales, along with other developing economies like India, ehich has already begun transforming its public transportation infrastructure for EVs.
- In the current market scenario, policy support plays a crucial role in driving the adoption of electric vehicles. Policy support enables market growth by making vehicles appealing to consumers, reducing risks for investors, and encouraging manufacturers to develop electric vehicle on a large scale.
- Falling battery prices and improving technology are expected to bring price-competitive electric vehicles to the market, creating demand for battery technologies.

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Further in the Battery Market research reports, the following points are included along with an in-depth study of each point:

Production Analysis: Production of Battery is analyzed with respect to different regions, types, and applications. Here, price analysis of various Battery Market key players is also covered.

Supply and Consumption: In continuation of sales, this section studies supply, and consumption for the Battery Market. This part also sheds light on the gap between supply and consumption.

Key Strategic Developments: The study also includes the key strategic developments of the Battery market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, Global and regional growth of the leading competitors operating in the market on a Global and regional scale.

We Offer Customization On Report Based On Specific Client Requirement:

– Country Level analysis for any 5 countries of your choice.

– Competitive analysis of any 5 key market players.

– 40 analyst hours to cover any other data point.

How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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This release was published on openPR.