Press release
Inverter Battery Market 2022: Growing Demand Analysis by Companies Strategy, Developments, Market Position, Opportunities, and New Product Launches
The Inverter Battery Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.The Global Inverter Battery Market Size is Projected to Reach at a CAGR of 12% during 2022-2027.
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Market Overview:
The automotive segment is expected to have a significant growth in the Indian battery market during the forecast period owing to the increasing adoption of electric vehicles in the country.
Plans for local manufacturing of lithium-ion batteries in India is expected to bring down the EV cost in due time and reduce the dependency and increments on import duties, which in turn, is likely to provide an opportunity in the li-ion battery market in the near future.
The supply and demand gap in the raw materials required to produce batteries in the country is expected to restraint the growth of the market during the forecast period.
Top Leading Companies:
LG Chem, JSR Corp., Mahindra Powerol Ltd, Samsung SDI, Panasonic, Southern Batteries Pvt. Ltd, Loxus, Hitachi Chemical, BYD, TATA AutoComp GY Batteries Pvt, Su-Kam Power Systems
Recent Development:
Hitachi Chemical has acquired 8 companies, including 3 in the last 5 years. A total of 1 acquisition came from private equity firms. Hitachi Chemical has acquired in 5 countries. The Company’s most targeted sectors include chemicals (38%) and semiconductors (25%). Hitachi Chemical Co. Ltd. is a manufacturer and marketer of functional materials and advanced components and systems. Hitachi Chemical was founded in 1912 and is based in Tokyo, Japan.
LG Chem has acquired 1 company. It has also divested 2 assets. It’s largest disclosed sale occurred in 2020, when it sold LG Chem - LCD Polarizer Business to Ningbo Shanshan for $1.1B. LG Chem has acquired in 1 US state. The Company’s most targeted sectors include machinery (100%).LG Chem, Ltd. engaged in the manufacture of petrochemicals. polyvinyl chloride (PVC) resins, low-density polyethene (LDPE), polystyrene (PS), acrylonitrile butadiene styrene (ABS), bisphenol. LG Chem was founded in 1947 and is based in Seoul, South Korea.
In April 2021, Electric Power has been awarded a contract for supplying Caribbean Utilities Company&rsquo's energy storage program for residential application. The projects call for Electric to deploy, install, manage and market the PowerPod platform to residential energy storage system technology.
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