Battery Market | Research by Battery Type, by Application | Including Region, Key Players Analysis and Forecast

Market Highlights
Battery is a device that provides the electric energy to automobiles for starting, lighting and ignition. The Global Battery Market has seen a remarkable growth over the past few years and it has been anticipated that the global market will maintain the growth status during the forecast period. The rising demand of hybrid, semi-hybrid and fully electric vehicles will drive the global battery market. Also the adoption rate of these batteries in passenger vehicles, is increasing, which will drive this market. Rising consumption of mobiles and laptop, technological innovations, emerging economies and growing disposable income & government initiatives to replace fuel vehicle over battery vehicles, are some of the major factors, which are driving the global market.

However, both safety issues related to battery usage and the cost involved may hamper the growth of global battery market. The Global battery Market is expected to grow by a CAGR of 4% during the forecast period.

The market has analyzed the market based on battery types, applications and end-uses in the regions of North America, Europe, APAC and rest of the world. On the basis of battery types it includes lead acid, lithium ion, nickel metal hydride and nickel cadmium. Lithium ion is one of the largest segments by battery type. Lithium-ion battery is a kind of rechargeable battery, which is used in various industries and comes with a great life cycle with the high energy density. On the basis of applications it includes portable, automotive and industrial. Automotive segment holds the largest segment. Automobile segment is witnessing continuous expansion, especially in developing economies and, thus impacting the battery market positively. The new fuel-saving technologies such as micro hybrid systems are also leading to higher battery usage.

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Market Research Future Analysis:
There are many elements that hold the growth of global battery market. Contribution to the global industrial scenario is estimated to increase significantly in the forecast period. Asia-Pacific is dominating the battery market due to factors such as growing demand from automobile and industrial sectors. Moreover, steady growth in domestic production and exports of automobiles coupled with expanding vehicle fleet is projected to drive demand for batteries. Additionally, rising penetration of two-wheelers in semi urban and rural India is projected to surge replacement demand for two-wheeler batteries during the forecast period.

Key Players
The leading players in the battery market are
• Exide Technologies (U.S.),
• Douglas Battery (U.S.),
• Penn Manufacturing Company, Inc.(U.S.),
• Johnson Controls Inc(U.S.),
• The Furukawa Battery Co. ltd (Japan),
• Zhejiang Haijiu Battery Co. Ltd (China),
• Chaowei Power Holding ltd (China),
• CamelGroup (Italy)
• Fengfan Co. Ltd.(China)

Industry/ Innovation/ Related News:
February 21, 2018 – Apple Inc. (US) a technology giant announced that it is signing a long term partnership deal with the battery materials providers; securing thousands of metric tons of material per year. Through this, the company is looking forward to achieve its strategic goal. This move also puts the company in direct competition with other giants who are looking for a similar agreement & advantage.

February 22, 2018 – Saft (France) one of the leading global battery maker announced its partnership with Siemens, Solvay & Manz to research, develop and build a new generation of batteries. The alliance is part of the company’s efforts to develop battery manufacturing to compete with Asian and U.S. manufacturers.

February 21, 2018 – Enel Green Power (Germany) a global player in energy business announced its plans to build 22-megawatt lithium-ion battery storage plant in Brandenburg (a German Province). For the project, Enel is investing around USD 20 million.

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Worldwide Battery Market -Regional Analysis
Attributing to the burgeoning industrialization & automobiles market in the region; Asia-Pacific is the leading market of Batteries globally. Countries like China and India are expected to hold the largest market share of the market due to the rising automotive production activities. Simultaneously, augmenting demand for the consumer electronics coupled with the increasing number of electric vehicles in China and Japan are driving the regional battery market.

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