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Battery Manufacturing Equipment Global Market Report 2024 - By Growth, Trends, Demand, Forecast To 2033
The Business Research Company presents an extensive market research report on the Battery Manufacturing Equipment Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The battery manufacturing equipment market size has grown exponentially in recent years. It will grow from $11.74 billion in 2023 to $15.13 billion in 2024 at a compound annual growth rate (CAGR) of 28.9%. The growth in the historic period can be attributed to increasing consumer electronics demand, rise in demand for electric vehicles (evs), growing emphasis on renewable energy storage solutions, advancements in battery management systems (bms), government subsidies and incentives for clean energy..
The battery manufacturing equipment market size is expected to see exponential growth in the next few years. It will grow to $38.68 billion in 2028 at a compound annual growth rate (CAGR) of 26.4%. The growth in the forecast period can be attributed to demand surge in energy storage systems (ess), global renewable energy expansion, demand for lightweight and high-energy-density batteries, focus on battery recycling and circular economy.. Major trends in the forecast period include rise in outsourcing of manufacturing equipment, growth in cleanroom manufacturing practices, adoption of advanced coating and drying technologies, focus on safety-centric equipment designs, trend towards vertical integration in production..
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Key Market Players:
Major companies operating in the battery manufacturing equipment market report are Sony Energy Devices Corporation, BYD Co. Ltd., Panasonic Corporation, LG Chem Ltd., Johnson Controls International plc, Toshiba Corporation, Contemporary Amperex* Technology Co. Ltd., Samsung SDI Co. Ltd., Wuxi Lead Intelligent Equipment Co. Ltd., Hitachi Chemical Co. Ltd., GS Yuasa Corporation, The Buhler Holding AG, Daiichi Jitsugyo Co. Ltd., Shenzhen Yinghe Technology Co Ltd., A123 Systems LLC, Duracell Inc., Manz AG, Eveready Industries India Ltd., Eagle Technologies Inc., MECO Incorporated, Wirtz Manufacturing Company Inc., Targray Technology International Inc., Sovema Group S.p.A., MESH Automation Inc., MAC Engineering & Equipment Company Inc., McAllister Mills Inc., Custom Electric Manufacturing Co. Inc., Xiamen Tmax Battery Equipments Limited
Market Drivers:
The growing demand for electric vehicles is expected to propel the growth of the battery manufacturing equipment market going forward. An electric vehicle refers to a type of vehicle that can be powered by an electric motor that draws electricity from a battery and is capable of being charged from an external source. Electric vehicles are beneficial to the battery manufacturing equipment market because they can only run on batteries. The expansion of battery manufacturing equipment is contingent upon the increasing demand for electric vehicles. For instance, In September 2022, according to a report issued by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, sales of electric vehicles increased from 2020 to 2021, reaching 6.6 million units (a sales share of almost 9%), increasing the total number of electric vehicles on the road to 16.5 million. In 2021, the sales share of electric vehicles increased by 4 percentage points. Therefore, the growing demand for electric vehicles is driving the growth of the battery manufacturing equipment market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/battery-manufacturing-equipment-global-market-report
The battery manufacturing equipment market covered in this report is segmented -
1) By Type: Lead Acid, Lithium Ion, Nickel Metal Hydride, Nickel Cadmium, Other Types
2) By Process: Electrode Manufacturing, Cell Assembly, Cell Finishing
3) By Application: Automotive Batteries, Industrial Batteries, Portable Batteries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
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