Custom Battery Pack Market Worth US$ 16,138 Million at 8.2% CAGR; Industry Giants Like IBM and Cisco to Upgrade up Investments to Develop Advanced Latest Key Technology: Straits Research

Custom Battery Pack Market

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.

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. It segregates useful and relevant market information as per the business needs of players. Readers are provided with validated and revalidated market forecast figures such as CAGR, Heavy Load Moving Skates market revenue, production, consumption, and market share. Our accurate market data equips players to plan powerful strategies ahead of time. The Custom Battery Pack report offers a deep geographical analysis where key regional and country-level markets are brought to light. The vendor landscape is also analyzed in-depth to reveal current and future market challenges and Custom Battery Pack business tactics adopted by leading companies to tackle them.

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 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.

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.

A key restraint is the battery recycling dilemma that manufacturers face.  Lithium battery technology registers tremendous demand from various industry verticals such as automotive, defense, aerospace, medical devices, and oil and gas instruments. Different recycling schemes will need to be in place to overcome the challenges associated with waste collection in landfills. With the boom of custom batteries, researchers and environmentalists are seeking novel solutions for improvements in the recycling process. 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 medical segment by application was valued at USD 3,316 million in 2018 and is expected to reach a value of USD 6,212 million by 2026, with a CAGR of 8.2% during the forecast period. Medical devices require battery packs for unique power requirements such as in assemblies for healthcare devices, including blood glucose monitors, life-saving devices (surgical tools and respirators), and most other battery-powered medical equipment. Battery packs provide primary or backup power in hospitals that utilize electronic devices for medical care. Moreover, custom medical battery packs are also extensively used in ultrasound devices, drug delivery systems, patient monitors, imaging systems, ventilators, surgical tools, defibrillators, and motorized wheelchairs, among others.

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The Major Prominent Players Covered in this Report:
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, Others

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2026, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

View this report with a detailed description and TOC @ https://straitsresearch.com/report/custom-battery-pack-market/toc

Key Custom Battery Pack Market Trends:
- The report identifies, determines, and forecasts the Global Custom Battery Pack Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Custom Battery Pack Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Custom Battery Pack Market.

Key Questions Answered in The Report:
What will the Custom Battery Pack market growth rate?
What are the key factors driving the global Custom Battery Pack market?
Who are the key manufacturers in the Custom Battery Pack market space?
What are the market opportunities, market risk, and market overview of the Custom Battery Pack market?
What are sales, revenue, and price analysis of top manufacturers of the Custom Battery Pack market?
Who are the distributors, traders, and dealers of the Custom Battery Pack market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Custom Battery Pack Industry?
What are sales, revenue, and price analysis by regions of Custom Battery Pack industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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