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Global Batteries Market (2024 to 2033) - Industry Trends, Share, Size, Growth, Opportunity and Forecasts
Batteries Global Market
The Business Research Company's Batteries Global Market Report 2024 identifies The increasing demand for electric vehicles is expected to propel the growth of the batteries market going forward. as the major driver for the Batteries market's growth in the forecast period. Electric vehicles (EVs) are vehicles that are powered by electricity as their primary source of propulsion. Batteries provide the energy needed for propulsion, regenerative braking, and powering various auxiliary systems in electric vehicles.
The batteries market size has grown strongly in recent years. It will grow from $103.98 billion in 2023 to $113.81 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to portable electronics, electric vehicles (evs), renewable energy integration, consumer electronics, energy storage systems.
The batteries market size is expected to see strong growth in the next few years. It will grow to $161.22 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to energy transition, miniaturization and iot, research and development, electric grid upgrades. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.
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Major competitors in the Batteries market are Samsung SDI Co. Ltd., LG Chem Ltd., BYD Electronic Company Limited, TDK Corporation, Panasonic Corporation, Chaowei Power Holdings Ltd., GS Yuasa Corporation, SK Inc., Berkshire Hathaway Inc., China Aviation Lithium Battery Co. Ltd.
A key trend in the Batteries market includes innovative products. An electric vehicle (EV) battery refers to a rechargeable energy storage device used to power the electric motor(s) in electric vehicles.
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The Batteries market is segmented -
1) By Type: Secondary Batteries, Primary Batteries
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By Application: Automotive Batteries, Industrial Batteries, Portable Batteries, Power Tools Batteries, SLI Batteries, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Batteries market.
The Business Research Company's "Global Batteries Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Batteries Market Include:
1. Executive Summary
2. Batteries Market Characteristics
3. Batteries Product/Service Analysis -Product/Service Examples
4. Batteries Market Trends And Strategies
5. Batteries Market - Macro Economic Scenario
……
68. Global Batteries Market Competitive Benchmarking
69. Global Batteries Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Batteries Market
71. Batteries Market Future Outlook and Potential Analysis
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