Battery Market - Trends, Drivers, Strategies, Applications and Competitive Landscape to 2023 Market Highlights Batteries provide the electric energy to automobiles for starting, lighting and ignition. 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 vehicle is increasing, which will drive this market. Recent innovations, which provide for high-efficiency and longer power back-up in smartphones/ tablets and PCs enable this technology to reach a wider range of audiences. Emerging technologies such as flexible batteries and aluminum-ion batteries, are expected to increase the competition. The high purchase price creates a major limitation for the consumers to adopt lithium battery into their devices or systems. Safety issues related to battery usage may hamper the growth of global battery market, which otherwise has been projected to grow at 4% in the next five years Rise in demand for electronic devices such as smartphones and tablets as well as government regulations to reduce the pollution are some of the major factor which drives the demand for the growth of battery market. Additionally, increasing demand for electric vehicles also pushing the battery market towards growth. Automotive batteries are rechargeable batteries that supply electric energy to automobiles. With the continuous rise in production and sales of automobiles, the global automotive battery market has been witnessing increase in sales. Furthermore, constant increase in the demand for electricity and depletion of fossil fuels have encouraged countries across the globe to focus more on the generation of electricity through renewable energy sources.
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The early diners are offered free customization- Up To 20% Lithium ion dominates the battery type segment of global battery market Lithium-ion batteries are now widely implemented as the power or energy source for everything from portable electronics to electric vehicles. Lithium-ion batteries offer high storage capacity, better efficiency and longer life than other batteries. The demand for these batteries is increasing in various applications such as consumer electronics products and automotive application. Lithium-ion batteries are widely implemented as the power or energy source for everything from portable electronics to electric vehicles. The rising demand for electronic devices and the stringent government regulations to control pollution level, are expected to drive the lithium-ion battery market during the forecast period. 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.
Application & Major Players in this Research: 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)
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