Battery Packaging Market Is Likely To See Massive Surge In Demand And Growth In The Forecast Period 2022-2031

Asia-Pacific garnered the highest share in 2021, holding nearly fifth- eight of the global battery packaging market revenue in 2021, and is projected to retain its dominance by 2031. Rise in concern from governments across emerging nations, such as China, India, and South Korea, regarding zero-emission norms. Moreover, China is the topmost producer of electric vehicles in the world where lithium-ion energy storage barriers are widely employed in electric vehicles, which propel the battery packaging market growth. Moreover, China being the largest producer of solar power is expected to further foster the growth of the market in Asia-Pacific.

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Allied Market Research published a new report, titled, "Battery Packaging Market by Material Type (Metal, Plastics, Others), by Battery Type (Lithium Ion, Lead Acid, Nickel Cadmium, Others), by Casing type (Cylindrical, Prismatic, Coin, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The cylindrical casing segment accounted for nearly half of the global battery packaging market share in 2021, and is expected to rule the roost by 2031. The same segment would also display the fastest CAGR of 10.2% throughout the forecast period. The cylindrical cell continues to be one of the most widely used packaging styles for primary and secondary batteries. Cylindrical casing types possess some advantages such as ease of manufacture and good mechanical stability. The tubular cylinder can withstand high internal pressures without deforming owing to which it is extensively used in various end use industry such as, power tools, medical instruments, laptops, and electric vehicles.

This makes it important to understand the practical implications of the battery packaging market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.

The lithium-ion segment accounted for nearly half of the global battery packaging market share in 2021, and is expected to rule the roost by 2031. The same segment would also display the fastest CAGR of 10.1% throughout the forecast period. Prismatic cell and metal-based material is used for lithium-ion battery packaging which has enhanced the overall demand for lead acid batteries in the market./ Furthermore, utilization of lithium-ion batteries have increased in the electrical sector owing to the rise in industrialization, urbanization, and growing consumer demand for various electric-based devices, vehicles and growing prominence of sustainable energy solutions is expected to surge the demand for lithium-ion battery; thus, helps in increase the potential sales for the market.

KEY MARKET PLAYERS:

The report provides the SWOT analysis of the key market players Deutsche Post AG, EPEC LLC, NEFAB Group, Wellplast AB, schott, Sohner Kunststofftechnik GmbH, DS Smith Plc, heitkamp & thumann group, targray, and zarges gmbh. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.

According to the report, the global battery packaging industry generated $24.5 billion in 2021, and is estimated to reach $61.5 billion by 2031, witnessing a CAGR of 9.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

NEED FOR THE REPORT:

The current situation of pandemic makes it very important for the stakeholders in the battery packaging market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.

Installation of solar battery can effectively reduce carbon footprints. Implementation of battery packaging can make a nation energy independent and reduce the dependence on imported fossil energy resources. Furthermore, growing interest of industry players toward renewable energy storage solutions is expected to increase investment opportunities during the forecast timeframe. For instance, countries, such as the UK and Portugal, are encouraging capacity auctions for solar battery storage instead of conventional energy storage systems.

KEY OFFERINGS OF THE REPORT:

Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.

Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.

Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.

Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.

Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.

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