Sep 6, 2021   SOURCE: BusinessWire

Worldwide Battery Industry to 2026 - by Battery Type, Battery Technology, Application and Region - ResearchAndMarkets.com

The "Global Battery Market Outlook, 2026" report has been added to ResearchAndMarkets.com's offering.

This report gives a complete insight on the battery classified on basis of type (primary & secondary), technology (lead-acid, lithium-ion, nickel cadmium & nickel metal hydride), and application (automotive, industrial & portable). The overall battery market is expected to grow at a CAGR of over 8% during the forecasted period of 2021-26.

Companies Mentioned

  • A 123 System LLC
  • BYD Company Limited
  • C&D Technologies Inc.
  • Clarios
  • Contemporary Amperex Technology Corporation Limited
  • GS Yuasa International Limited
  • Hitachi Chemical Corporation Limited
  • LG Chem Limited
  • Panasonic Corporation
  • Saft Group SA
  • Samsung Corporation Limited
  • Sony Corporation
  • Toshiba Corporation

Globally the secondary battery type has been an unbeatable market dominator. The number of people without access to electricity in the African region is to increase by over 600 million in 2030, despite efforts to boost electrification. The Sub-Saharan and rural south Asian regions, in particular, are expected to be one of the central hotspots for off-grid solar initiatives. As a result, the use of energy storage with solar photovoltaic technology has been gaining popularity in these countries, which is likely to create an enormous opportunity for the battery market. The Middle East & Africa and Asia Pacific region together are expected to account for a market share of over 50% by the end of the forecasted period.

The lithium-ion battery segment is expected to cross a market of USD 60 Billion by the end of the forecasted period, recording the highest CAGR. Major factors driving the market include declining prices, rapid adoption of electric vehicles, growing renewable sector, and increased sale of consumer electronics. On the other hand, the demand-supply mismatch of raw materials is the hindrance to the market growth. Significant increases in battery energy density will probably require a disruptive technology involving a lithium anode. The market-leading segment of lead-acid batteries is expected to report the lowest CAGR of 5.98% through the forecasted period. High demand for portable electronics, including LCDs, smartphones, tablets, and wearable devices such as fitness bands, is boosting the market growth. The market is expected to observe substantial growth on account of technological advancements in terms of enhanced efficiency, cost-effectiveness, and product innovation.

The automotive sector recorded at a market of USD 37.65 Billion in 2015 is expected to be the major application segment for the battery market in the near future. In the current market scenario, policy support plays a crucial role in driving the adoption of electric vehicles. Policy support enables market growth by making vehicles appealing to consumers, reducing risks for investors, and encouraging manufacturers to develop electric vehicles on a large scale. Falling battery prices and improving technology are expected to bring price-competitive electric vehicles to the market, creating a demand for battery technologies. The share of portable battery applications is expected to decline further to a share of 32.54% by the end of the year 2026.

New markets that further boost battery growth are the electric bicycle and storage systems for renewable energy, from which homeowners, businesses, and developing nations are benefiting. Large grid storage batteries collect surplus energy during high activity and bridge the gap when the input is low or when user demand is heavy. The market comprises a network of players, including major global players as well as localized regional players. Most of these companies are headquartered in China, making it the highest contributing country, with 12.69% in 2020.

This report would help you answer the following questions:

1. What is the market size and forecast of the Global Battery Market?

2. What are the inhibiting factors and impact of COVID-19 shaping the Global Battery Market during the forecast period?

3. Which region outstands in the Global Battery Market?

4. Which are the segments to invest in over the forecast period in the Global Battery Market?

5. What is the competitive strategic window for opportunities in the Global Battery Market?

6. What are the technology trends and regulatory frameworks in the Global Battery Market?

7. What are the major company in the Global Battery Market?

Key Topics Covered:

1. Executive Summary

2. Report Methodology

3. Global Battery Market Outlook

4.1. Market Size by Value

4.2. Market Share

4.2.1. By Battery Type

4.2.2. By Battery Technology

4.2.3. By Application

4.2.4. By Region

4.2.5. By Country

4.2.6. By Company

4.3. Global Lead Acid Battery Market Outlook

4.4. Global Lithium Ion Battery Market Outlook

4.5. Global Nickel Metal Hydride Battery Outlook

4.6. Global Nickel Cadmium Battery Outlook

5. North America Battery Market Outlook

6. Europe Battery Market Outlook

7. Asia Pacific Battery Market Outlook

8. Latin America Battery Market Outlook

9. Middle East & Africa Battery Market Outlook

10 History & Manufacturing Process

11 Market Dynamics

11.1 Key Drivers

11.2 Key Challenges

12 Market Trends & Developments

13 Competitive Landscape

14 Strategic Recommendations

15 Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/q3el7p