Custom Battery Pack Market Share 2019 Research Strategies, Growth Dynamics, Opportunities and Challenges Forecast to 2026

The Lithium-ion (Li-ion) batteries segment was valued at USD 16,138 million in 2018 and is expected to reach USD 30,235 million by 2026, with a CAGR of 8.2% during the forecast period.

The European market was valued at USD 7,206.9 million in 2018 and is expected to reach a value of USD 11,625.4 million by 2026, with a CAGR of 6.2% during the forecast period. Currently, lithium-ion batteries are one of the most expeditiously growing forms of technology in the battery market since they meet specific demands from the rapidly developing electric mobility market. The European Union is aiming to reduce CO2 emissions in the transport sector. As per a European Environment Agency (EEA) report, around 149.5 thousand electric vehicles were sold in the region in 2015.
Custom battery packs’ specifications (shape & size) are personalized to meet the unique needs of the application. Each pack is inspected for defects or quality issues. Custom battery packs are made using nonferrous metals and minerals such as Li-Ion, Li-poly, Ni-Cd, Ni-MH, and Sealed Lead Acid. Increasing complexity and demand for clean energy have created a need for custom battery packs to provide a long span life in a compact form.

The custom battery pack product is in its growing phase with the sudden transformation of fuel run automobiles into electric vehicles. The demand for battery and hybrid electric vehicles has tremendously increased around the globe. According to the International Energy Agency, the global sale of electric vehicles (EVs) hit a record 750,000 in 2016, and currently holds a global stock of 2 million units. EV sales increased by 63% in 2017 compared to 2016. The product has a significant opportunity ahead before it matures or becomes obsolete.

The growing popularity of EVs is expected to translate to an upsurge in demand for custom-made batteries in the coming years. EVs are expected to account for 35% of all vehicles by 2024, largely driven by a steep decline in the cost of battery technology and decarbonization by governments worldwide.

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The German government has designated around EUR 1 billion to support battery cell production, and Europe is expected to account for 30% of the global market share by 2030. The European Union organized the European Battery Alliance in 2017 to establish a competitive manufacturing value chain in Europe. This alliance is expected to conquer up to EUR 250 billion per year market from 2025.

The industrial revolution has challenged the battery manufacturing industry to create competitive and sustainable custom solutions. Custom battery packs have seen rapid improvements in performance and cost due to extensive research and development activities in lithium-ion (Li-ion) batteries and prominent growth in developed economies. These investments by existing and new players have built a vast ecosystem; for instance, research institutes, manufacturers, and end-users such as automotive, electronic devices, and utilities have expanded the application range of custom battery packs. These batteries’ voltage and current are designed as per application for use in different combinations.

Custom Battery Pack Market: Market Participants
Elecsys France
SAFT
BMZ Group
GPBM Industry
Excell Battery Co.
PowerTech Systems
E4V (Group Universe VE)
PMBL Ltd
Cadex Electronics Inc.
Battery Clinic Inc.
Zeus Battery Products
Inventus Power
Ultralife Corporation

Custom Battery Pack Market: Suppliers
Avnet Inc.
AceOn Battery Solar Technology Ltd
Arrow Electronics, Inc.
CAB Special Batteries Ltd
Lithium-ion Battery Packs and Cells

By Type, Li-Ion, Li-Poly, NiMH, NiCd, SLA
By Application, Medical, Military, Aerospace, Data Center, Portable devices, Laptops, Mobile Phones, Point of Sale Devices, Audio Devices (Speakers), Power Tools, Others, Automotive, Other

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Custom Battery Pack in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Custom Battery Pack market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Custom Battery Pack and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Custom Battery Pack. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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The report covers exhaustive analysis on:
Overview of the parent market
Global Custom Battery Pack Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Custom Battery Pack Market Forecast 2021 to 2029
Supply & Demand Value Chain
Global Custom Battery Pack Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements

Key questions answered in this report:
What will be the market size by the end of the forecast period?
What are the factors driving the growth of the market?
What are the trends and developments that are likely to drive the growth of the market?
Who are the key players operating in the market?
What are the challenges, threats, and opportunities faced by the leading players?
What are the strengths and weaknesses of the key players of the market?

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