Battery Components Market 2020 Future Trends, Dynamic Growth & Forecast To 2028 | Enersys, BYD Co. Ltd., Lishen Battery, East Penn Manufacturing, Exide Industries, FIAMM, LG Chem Ltd., and Sanyo-Panasonic

The Global Battery Components Market is likely to reach USD 236.39 billion by 2028 at a growing CAGR of 16.3% over the forecast period. A battery consists of one or more cells which enables the transformation of chemical energy into electricity.

These batteries are utilized to supply primary power or to act as a back-up power source in industrial, transport, or commercial applications. Likewise, with the growing demand in the worldwide transportation market, the market for batteries is likely to grow over the forecast period.

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Increasing number of electrical devices as well as electronic circuits in the transportation industry is one of the most significant factors in driving the growth of the global battery components market. The base year considered for the study is 2016, and forecast has been provided for the period between 2016 and 2028.

Companies Covered: Enersys, BYD Co. Ltd., Lishen Battery, East Penn Manufacturing, Exide Industries, FIAMM, LG Chem Ltd., and Sanyo-Panasonic…

In addition, huge investments in electronics, automotive, and ESS are the major factors that are boosting the battery componentsindustryaround the globe, particularly in Asia Pacific. Also, the existence of a robust manufacturing base, government support, and rising investments by automotive industries inelectric vehicles are some of the factors indriving growth of the battery components market across the globe.

The global battery components market is characterized by the adoption of a number of technological advancements such as Nano-filtration system, solvent extraction method, and rotary kiln electric furnace process. Such technologies are employed for enhancing performance as well asefficacy of battery components as per requirements.Key challenges faced by the global battery components market comprise upward penetration and price fluctuation of lithium-ion products.

However, the effectiveness of manufacturers is affected by varied prices. In addition, some other factors such as increasing awareness regardingmaintainable sourcing of battery components, efficient waste disposal, and recycling are likely to drive the demandfor battery components across the globe. Producers are implementing various regulations as well as certifications including PHMSA, U.S. EU-Batteries Directive, and DOTto ensure product quality and lure customers.

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On considering geographical perspective, the Asia Pacific region accounted for a leading share of the global battery components industry in 2018, and the trend is likely to continue over the forecast period. Increasing Internet penetration, rising disposable income, shifting lifestyle, and increasing technological advancements in emerging economies, such as India and China, are increasingthe sale of portable electronic devices such as tablets, smartphones, laptops, as well as digital cameras. A rise in sales of such devices is boosting the demand for lithium batteries in Asia Pacific region. This, in turn, is boosting the lithium battery components market in the region.

Global Aluminium Oxide Market, By Battery Type
The lithium-ion segment is likely to be the fastest-growing segment of the global battery components market during the forecast period. In addition, automobile manufacturers have started concentrating on EVs, as variousregions and their governments have taken major initiatives towards a lower CO2 emission and green environment. The risingadoption of EVs and the deployment of portable electronic devices are also expected to drive the lithium-ion battery materials market over the forecast period.

Global Aluminium Oxide Market, By Component Type
The cathode segment of the global battery components market witnessed high growth in 2018. It is likely to dominate the industryover the forecast period.In addition, cathode is the most significant component of a lithium battery because it is a source of lithium ions, and it decides the average voltage and capacity of a lithium battery.
Key Market Developments
• In December 2015, Bosch had developed a new battery with the help of lithium ion technology which is lightweight than the lead acid batteries. It is suitable for scooters, two wheelers, and jet-skis.
• In February 2016, Johnson Controls capitalized USD 112 million in its facility in Germany. The main objective of the company is to extend production capacity of AGM batteries by around 65%.
• In February 2016, Panasonic Corporation partnered with Dalian Levear Electric Co., Ltd in China to produce automotive batteries. This partnership will use Panasonic's technological abilities and knowhow for the manufacturing and quality control of batteries to be produced for eco-friendly vehicles.

Some Key Findings of the Global Aluminium Oxide Market Report Include:
 Holistic in-depth analysis about the parent market.
 Region-wise and country-wise analysis of the battery components market to get the share and growth details in these areas.
 Comprehensive information regarding the current R&D activities performed by each battery components market service provider.
 Various major factors which are impacting the consumption pattern of customers across a number of countries and regions.
 Year-on-year development of the global battery components market in terms of value and volume.
 Past and future progress of the global battery components market.
 Strategic Frameworks of the battery components market to boost the growth journey

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

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

By Region:
North America
o By Country (US, Canada, Mexico)
o By Component Type
o By Battery Type

Western Europe
o By Country (Germany, UK, France, Spain, Rest of Western Europe)
o By Component Type
o By Battery Type

Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Component Type
o By Battery Type

Asia Pacific
o By Country (China, Japan, India, Rest of Asia Pacific)
o By Component Type
o By Battery Type

Middle East
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Component Type
o By Battery Type

Rest of the World
o By Region (Latin America, Brazil, Rest of the World)
o By Component Type
o By Battery Type

Reasons to Buy This Report:
• Market size estimation of the global battery components market on a regional and global basis
• The unique research design for market size estimation and forecast
• Profiling of major companies operating in the market with key developments
• Broad scope to cover all the possible segments helping every stakeholder in the market

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

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This release was published on openPR.