Battery Technology Market

As per the analysis report conducted by GMI Research, the battery technology market is estimated over USD 85 billion in 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 9.30% over the forecast period (2020-2027).

A battery is a device that can change chemical energy to electricity by using certain chemicals in a specific way. The batteries are used in different electrical devices, including flashlights, mobile phones, and electric cars. When the anode and cathode of the battery are connected to a circuit, a chemical reaction takes place between the anode and the electrolyte. There are basically various types of batteries technologies, including lithium-ion battery, lead-acid battery, nickel-metal hydride battery, and other types of batteries.

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Battery Technology Market Key Drivers

The major factors responsible for driving the growth of the global battery technology market include the accelerated usage of electric and hybrid electric vehicles at the global level, increasing adoption of battery technologies in the renewable energy sector, and the strong demand for automation and battery-operated material handling equipment in various industries. In addition to this, the increasing deployment of batteries in the utilities sector is further strengthening the growth of the market in the coming years. With the continuous automation in gadgets and portable electronic devices, there has been a drastic surge in demand for batteries. Moreover, the technological advancement in batteries, such as the advancements in microelectronic battery and the charger controller technology, is attracting new customer base into the market in the coming years. On the other end of the spectrum, the increasing number of legislation to restrict the usage of mercury, lead, and calcium in the manufacturing procedure is likely to hamper the growth of the market.

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Based on the technology type, the market is segmented into lithium-ion battery, lead-acid battery, nickel-metal hydride, and other battery technology. The Lithium-ion batteries segment is anticipated to lead the market during the forecast period owing to the accelerated adoption of consumer electronics, including smartphones, laptops, tablets, wearable devices, and other home applications. The Lithium-ion batteries are commonly used in smart devices and consumer electronics. Moreover, the remarkable features of the battery, such as increase efficiency and helps in making devices easily customizable will further complement the growth of the segment.

On the basis of Application, the market is segmented into power & utilities, transportation, industrial, commercial & residential, consumer electronics, and medical. The consumer electronics segment is projected to grow at a higher CAGR over the forecast period due to the strong demand for smartwatches and fitness bands driven by the continuous development of innovative product designs and features.

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Regional – Segment Analysis

Based on the region, the Asia-Pacific region is anticipated to lead the market during the forecast period attributed to the presence of leading market players including Panasonic Corp., Samsung, and other market players. In addition to this, the recent infrastructure developments and industrialization activities in the emerging economies is further accelerating the growth of the market in this region.

Top Market Players

Various notable players operating in the market include Panasonic Corporation, Clarios, Samsung, GS Yuasa International Ltd., Chaowei Power Holding Limited, CATL, Enersys, LG, BYD Company, and Hitachi Chemical, among others.

Key Developments:

• • In 2020, Panasonic Corporation went into a joint venture with Toyota Motor Corp. to develop a new generation of batteries for electric vehicles.

Segments covered in the Report:

The Global Battery Technology market has been segmented on the basis of Technology Type, Application and key regions. Based on Technology Type, the market is segmented into Lithium-Ion Battery, Lead Acid Battery, Nickel Metal Hydride Battery and Others. Based on Application, the market is segmented into Power & Utilities, Transportation, Commercial & Residential, Consumer Electronics and Medical.

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Key questions answered in this research report:

• • At what pace is Global Battery Technology market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Battery Technology market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Battery Technology market?
  • Which Technology Type generated maximum revenues in 2019 and identify the most promising Technology Type during the forecast period?
  • What are the various Application areas of Global Battery Technology market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Value (USD Million)
Market Segment	By Technology Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Panasonic Corporation, Clarios, Samsung, GS Yuasa International Ltd., Chaowei Power Holding Limited, CATL, Enersys, LG, BYD Company, and Hitachi Chemical, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

Global Battery Technology Market by Technology Type

• • Lithium-Ion Battery
    • The market for Lithium-Ion Battery, By Type
      • Lithium Nickel Manganese Cobalt (LI-NMC)
      • Lithium Iron Phosphate (LFP)
      • Lithium Cobalt Oxide (LCO)
      • Lithium Titanate Oxide (LTO)
      • Lithium Manganese Oxide (LMO)
      • Lithium Nickel Cobalt Aluminum Oxide (NCA)
  • Lead Acid Battery
    • The market for Lead Acid Battery, By Type
      • Flooded Lead-Acid Battery
      • VRLA Technology
  • Nickel Metal Hydride Battery
  • Others

Global Battery Technology Market by Application

• • Power & Utilities
  • Transportation
  • Industrial
  • Commercial & Residential
  • Consumer Electronics
  • Medical

Global Battery Technology Market by Region

• • North America Battery Technology Market (Option 1: As a part of the free 25% customization)
    • By Technology Type
    • By Application
    • United States of America (US) All-Up
    • Canada All-Up
  • Europe Battery Technology Market (Option 2: As a part of the free 25% customization)
    • By Technology Type
    • By Application
    • United Kingdom (UK) All-Up
    • Germany All-Up All-Up
    • France All-Up
    • Spain All-Up
    • Rest of Europe All-Up
  • Asia-Pacific Battery Technology Market (Option 3: As a part of the free 25% customization)
    • By Technology Type
    • By Application
    • China All-Up
    • India All-Up
    • Japan All-Up
    • Rest of APAC All-Up
  • RoW Battery Technology Market (Option 4: As a part of the free 25% customization)
    • By Technology Type
    • By Application
    • Brazil All-Up
    • South Africa All-Up
    • Saudi Arabia All-Up
    • UAE All-Up
    • Rest of world (remaining countries of the LAMEA region) All-Up

Major Players Operating the Battery Technology (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Panasonic Corporation
  • Clarios
  • Samsung
  • GS Yuasa International Ltd.
  • Chaowei Power Holding Limited
  • CATL
  • Enersys
  • LG
  • BYD Company
  • Hitachi Chemical