The "Battery Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The sudden outburst of the pandemic in 2020 further dampened the market. As a result of that, there was an enormous decline in the demand for batteries across industries. Overall, the battery market witnessed a significant decline of -6%+ in 2020. However, the industry began rebounding in the year 2021 with the recovering demand from the defense and telecom industries and the restart of aircraft deliveries.
Companies Mentioned
- EnerSys
- Saft
- East Penn Manufacturing Co
- Exide Technologies, LLC
- Zhejiang Narada Power Source Co., Ltd
- Leoch International Technology Ltd
- Amara Raja Batteries Ltd
- Toshiba Corporation
- C&D Technologies, Inc
- GS Yuasa Corporation
Furthermore, an incessant shift from traditional lead-acid batteries to lithium-ion batteries and the declining cost of the latter is likely to drive market growth in the years to come. Overall, the battery market is likely to rebound at a promising CAGR of 3.2% in the long run to reach US$ 8.7 Billion in 2027.
The world is moving fast from fossil fuel power to emission-free electrification. Batteries, as a vital storage tool, are taking the center stage in enabling this transition. Batteries are stand-alone power sources that convert chemical energy into electrical energy through a chemical reaction.
Between non-rechargeable (primary) and rechargeable (secondary) batteries, the latter are essentially used as energy storage devices where they are electrically connected to the main energy source, charged by it, and also supply energy when required. The main battery technologies are lead-acid, lithium-ion, and nickel-cadmium. These technologies find applications across industries; however, the scope of this report is limited to batteries used in the marine, railway, defense, aviation, and telecom industries only.
The battery industry has been experiencing the most disruptive journey in the past few years due to the supply chain crisis. The current battery production in the USA is struggling to keep up with the rising demand. In addition to the lack of manufacturing of Li-ion batteries in North America, there is also a shortage of cathode and anode materials, for which, the USA is solely dependent on producers located overseas.
Key Topics Covered:
1. Executive Summary
2. Battery Market Environment Analysis
2.1. Supply Chain Analysis
2.2. PEST Analysis
2.3. Industry Life Cycle Analysis
2.4. Market Drivers
2.5. Market Challenges
3. Battery Market Assessment (2016-2027)
3.1. Battery Market Trend and Forecast (US$ Million)
3.2. Pre-COVID vs Post-COVID Assessment
3.3. Real GDP Loss vs Battery Market Loss (2022-2022)
3.4. Market Scenario Analysis: Growth Trajectories in Different Market Conditions
4. Battery Market Segment Analysis (2016-2027)
4.1. Battery-Type Analysis
4.2. Industry-Type Analysis
4.3. Regional Analysis
5. Competitive Analysis
6. Strategic Growth Opportunities
6.1. Market Attractiveness Analysis
6.1.1. Market Attractiveness by Battery Type
6.1.2. Market Attractiveness by Industry Type
6.1.3. Market Attractiveness by Region
6.1.4. Market Attractiveness by Country
6.2. Growth Matrix Analysis
6.3. Strategic Implications
6.4. Key Success Factors (KSFs)
7. Company Profile of Key Players (Alphabetically Arranged)
8. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ub3d1v.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221202005400/en/
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