IMARC Group’s latest research report, titled “Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” the global battery market size reached a value of US$ 105.56 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 182.96 Billion by 2027, exhibiting a CAGR of 9.20% during 2022-2027.
A battery is a device that consists of one or multiple cells which facilitate the conversion of chemical energy into electricity. Some of the commonly used batteries used include sodium-based, lead-based, nickel-based, and lithium-based. Sodium-based batteries are widely used in small power devices. On the other hand, lithium-based variants find applications in numerous devices ranging from electronic devices to electric vehicle batteries. Batteries primarily act as a backup power supply in transport, industrial, or commercial applications.
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The global market is primarily driven by significant growth in the automotive industry. In line with this, the rising number of electrical circuits and devices in the transportation industry acts as another major growth-inducing factor. Several manufacturers are also investing in research and development activities for developing innovative and advanced variants. Furthermore, the growing need for product safety and environmental sustainability is creating a positive outlook for the market. Besides this, the rising demand for portable electronics, including LCDs, smartphones, tablets, and wearable devices, is providing a boost to the market. Additionally, the numerous initiatives undertaken by various countries’ governments toward fuel efficiency are providing an impetus to market growth.
Key Players Included in Global Battery Market Research Report:
- A123 Systems LLC (Wanxiang Group Corporation)
- BYD Motors Inc.
- Contemporary Amperex Technology Co. Ltd.
- Envision AESC Group Ltd. (Envision Group)
- GS Yuasa Corporation
- Johnsons Controls Inc.
- Panasonic Corporation
- Robert Bosch GmbH (Robert Bosch Stiftung GmbH)
- Saft (TotalEnergies SE)
- Samsung SDI Co. Ltd.
- Tesla Inc. and Toshiba Corporation.
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Type:
- Primary Battery
- Secondary Market
Breakup by Product:
- Lithium-Ion
- Lead Acid
- Nickel Metal Hydride
- Nickel Cadmium
- Others
Breakup by Application:
- Automotive Batteries
- Industrial Batteries
- Portable Batteries
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Battery Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Battery Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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