GLOBAL BATTERY MARKET FORECAST 2019-2027

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GLOBAL BATTERY MARKET FORECAST 2019-2027

The global battery market was valued at $XX billion in 2018 and is projected to grow with a CAGR of 6.63% during the forecast period, to reach an expected value of $135.43 billion by the year 2027. The base year considered for the study is 2018 and the estimated period is between 2019 and 2027. The battery market is expected to witness significant growth over the forecast period owing to:

GLOBAL BATTERY MARKET FORECAST 2019-2027

Global Battery Market by Battery Type(Lead Acid Battery, Lithium Ion Battery, Nickel Metal Hydride Battery, Nickel Cadmium Battery, Other Batteries) by Application (Automotive, Industrial, Portable) by Geography.

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The global battery market was valued at $XX billion in 2018 and is projected to grow with a CAGR of 6.63% during the forecast period, to reach an expected value of $135.43 billion by the year 2027. The base year considered for the study is 2018 and the estimated period is between 2019 and 2027. The battery market is expected to witness significant growth over the forecast period owing to:

  • Booming automotive industry
  • Growing demand for energy storage systems & UPS systems
  • Positive outlook of the electric vehicle market
  • Widening applications in the motive industrial sector
  • Growing consumption of rechargeable batteries in consumer electronics

 Battery Market

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The global battery market is expected to witness significant growth over the coming years owing to the development of the automobile and motorcycle industry. The growing preference for pollution-free hybrid & electric vehicles along with technological developments is expected to drive battery demand over the forecast period. The increasing technological advancements in battery technology have increased the usage of various battery-operated devices across the globe. Furthermore, the decreasing cost of lithium-ion batteries and surging energy storage deployments in power grids have also largely impacted the growth of the market. A few years back, the lithium-ion batteries cost around $XX per kWh that has lowered to about $XX per kWh as of the year 2016.

Lead acid battery captured the largest revenue share of 52.40% in 2018. Lead-acid is used in automotive, stationary, and deep-cycle batteries. These batteries have held a strong position in the overall battery market for more than 100 years.

However, lead-acid batteries are expected to lose their dominance due to pollution & Operational challenges related to these batteries coupled with the emergence of new technologies such as nickel-metal hydride (Ni-MH) and Li-ion batteries. The growing consumption of lead-acid batteries for large ESS has resulted in the formation of deposits on negative electrodes, which hinder the performance of energy storage systems.

Moreover, the recycling of lead-acid batteries reduces the number of disposable batteries as solid waste; but, as batteries contain a high amount of lead oxide toxins, they affect the environment. However, lithium-ion batteries are expected to capture a significant portion of the market over the forecast period on account of low energy density and lightweight. Li-ion batteries are rechargeable batteries. The advantage of using Li-ion batteries is that they increase the thermal stability, have higher current density, and longer shelf life as compared with other batteries available in the market. Li-ion is used in high power applications such as HEVs, EVs, and consumer electronic devices. One of the key reasons for its significant growth is the growing use of EVs and HEVs worldwide. Currently, this transportation sector has the highest demand for Li-ion batteries. The increase in renewable power generation will also drive the growth of the market during the forecast period.

With the growing adoption of batteries from numerous end user industries, the global battery market is also facing some challenges. Uncertainties in raw material prices, operational issues & pollution due to lead-acid batteries, the growing threat of alternatives such as supercapacitors & counterfeit batteries are several factors hampering the market growth.

The supply of raw materials that make up the batteries such as lithium, cobalt, and lead fluctuates. The excessive usage of the raw materials used in the batteries leads to its shrinkage. For instance, prices of cobalt, a raw material used in lithium-ion batteries have risen to xx% in the first quarter of the year, which could add xx% to xx% of the battery prices to raise its value. The fluctuating prices of the raw materials in battery manufacturing primarily hampers the growth of the market and acts as a major hindrance.

The report on the global battery market is segmented on the basis of battery type and application.

Market by Battery Type:

  • Lead-acid battery
  • Lithium-ion battery
  • Nickel-cadmium battery
  • Nickel metal hydride battery
  • Other Batteries (Alkaline battery, Silver oxide, Solid state, Sodium-ion, etc.)

Market by Application:

  • Automotive
  • Industrial
  • Portable

Geographically, the global battery market has been bifurcated into four major regions, which covers:

In terms of geography, Asia Pacific was the largest market, accounting for 60.51% of the global battery market in 2018. Also, the market in the Asia Pacific is advancing with the fastest rate owing to an increase in battery demand in developing countries such as China and India. Asia-Pacific battery market is mainly driven by the investments made by the private organizations, escalating adoption & utility of electric vehicles, rising research & development by the research institutions and initiatives taken by the multinational organizations which are focusing on developing batteries.

The robust manufacturing base of the lead-acid battery in China, Japan and India along with the commitment of governments towards infrastructure development are expected to increase the battery market. Substantial demand for the automotive industry, which is one of the largest end users of battery, across the countries like India, Indonesia, Sri Lanka, and Vietnam are expected to augment the market growth.

Commercial, residential and grid storage is expected to witness significant growth on account of various factors including industrialization, urbanization and increased disposable income in the developing countries coupled with favorable regulations to attract investments is expected to have to augment market. The lower battery price offered by local manufacturers compared to the leading vendors is also expected to contribute to the market growth.

Global battery market has been segmented on the basis of battery type & application. The major types of batteries available in the market include a lead-acid battery, nickel cadmium batteries, nickel metal hydride, lithium ion and other batteries including alkaline, zinc-carbon battery. The crucial applications of batteries undergo in the automotive, industrial and portable. Automotive applications cover the battery usage in cars, electric vehicles, and commercial vehicles. Industrial applications are found in the UPS, telecommunication, energy storage systems, forklifts, and buildings. Portable applications of batteries lie in several types of consumer goods like laptops, mobile and tablets.

The prime companies operating in the global battery market include:

  • A123 Systems, LLC
  • Crown Battery Manufacturing Company
  • Exide Technologies
  • GS Yuasa Corporation
  • Saft Groupe S.A.,
  • Shenzhen BAK Battery Co., Ltd.
  • & other companies

Key corporate strategies along with company profiles of the key companies are discussed in detail. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, or new product launch, to gain a competitive edge over each other. For instance, in February 2019, EnerSys expanded the capacity range for its line of PowerSafe® DSG batteries from 295-745 amp hours (Ah) to 295-1,600 Ah. In January 2019, Toyota Motor Corporation and Panasonic Corporation announced that the two companies would establish a joint venture to produce prismatic lithium-ion batteries, solid-state batteries, and next-generation batteries for electric vehicles.

In September 2018, A123 Systems invested $20 million in Series A funding in Louisville, Colorado-based Solid Power, a maker of batteries. In June 2018, East Penn Manufacturing and RSR Technologies renewed and extended their lead battery research agreement with the U.S. Department of Energy’s Argonne National Laboratory.

Key findings of the global battery market:

  • Battery manufacturers are raising funds from high-profile investors and collaborating with other companies for the development of next-generation For instance, in 2016, LG Chem acquired the rights of Sion Power, the only commercial provider of Li-S technologies.
  • With the increase in the trend of electrical accessories, the popularity of AGM batteries has also grown.
  • The growing number of portable consumer electronics such as smartphones, digital cameras, MP3 players, and laptops that rely on batteries has increased the consumption of rechargeable batteries.
  • Over the past few years, batteries are being widely adopted in military applications such as tactical radios, thermal imagers, ECM, ESM, and portable computing. The use of batteries has been further expanded to heavy-duty platforms, such as military vehicles, boats, shelter applications, aircraft, and missiles.

 

  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • RISING NUMBER OF VENDORS & COLLABORATIONS
      • INCREASE IN THE POPULARITY OF AGM BATTERIES
      • DEVELOPMENT OF NEXT GENERATION BATTERIES
        • URINE-POWERED BATTERIES
        • SODIUM-ION BATTERIES
        • GOLD NANOWIRE BATTERIES
        • SUPER BATTERY
        • PHOTOSYNTHESIS POWERED BATTERIES
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • BOOMING AUTOMOTIVE INDUSTRY
      • GROWING DEMAND FOR ENERGY STORAGE SYSTEMS
      • POSITIVE OUTLOOK OF ELECTRIC VEHICLE MARKET
      • WIDENING APPLICATIONS IN MOTIVE INDUSTRIAL SECTOR
    • MARKET RESTRAINTS
      • VOLATILITY IN RAW MATERIAL PRICES
      • POLLUTION & OPERATIONAL CHALLENGES RELATED TO LEAD-ACID BATTERIES
    • MARKET OPPORTUNITIES
      • GROWING CONSUMPTION OF RECHARGEABLE BATTERIES IN CONSUMER ELECTRONICS
      • SURGE IN THE DEMAND OF UPS SYSTEMS
      • BATTERY TECHNOLOGY TRANSFORMING THE DEFENSE INDUSTRY
    • MARKET CHALLENGES
      • REGULATORY COMPLIANCE
      • SUPERCAPACITORS – ALTERNATIVE TO BATTERY
      • THREAT OF COUNTERFEIT BATTERIES
  1. MARKET BY BATTERY TYPE
    • LEAD ACID BATTERY
    • LITHIUM ION BATTERY
    • NICKEL METAL HYDRIDE BATTERY
    • NICKEL CADMIUM BATTERY
    • OTHER BATTERIES
  2. MARKET BY APPLICATION
    • AUTOMOTIVE
    • INDUSTRIAL
    • PORTABLE
  3. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF COMPETITIVE RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • VALUE CHAIN ANALYSIS
    • LEGAL, POLICY & REGULATORY FRAMEWORK
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • A123 SYSTEMS, LLC
    • BYD COMPANY, LTD.
    • C&D TECHNOLOGIES, INC. (ACQUIRED BY KPS CAPITAL PARTNER)
    • CROWN BATTERY MANUFACTURING COMPANY
    • DURACELL INTERNATIONAL, INC.
    • EAST PENN MANUFACTURING COMPANY, INC.
    • ENERSYS
    • EVEREADY INDUSTRIES INDIA LTD.
    • EXIDE TECHNOLOGIES
    • GS YUASA CORPORATION
    • HITACHI, LTD.
    • JOHNSON CONTROLS
    • LG CHEM LTD.
    • MURATA MANUFACTURING CO., LTD.
    • NEC CORPORATION
    • PANASONIC CORPORATION
    • SAFT GROUPE S.A.
    • SAMSUNG SDI CO., LTD.
    • SHENZHEN BAK BATTERY CO., LTD.
    • TOSHIBA CORPORATION

TABLE LIST

TABLE 1: GLOBAL BATTERY MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2: WORLDWIDE SALES OF ELECTRIC VEHICLES IN 2017 (MONTH-WISE SALES)

TABLE 3: COUNTRY-WISE STOCK TARGETS OF ELECTRIC VEHICLE TILL 2020

TABLE 4: GLOBAL BATTERY MARKET, BY BATTERY TYPE, 2019-2027, (IN $ MILLION)

TABLE 5: GLOBAL LEAD ACID BATTERY MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 6: GLOBAL LITHIUM-ION BATTERY MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7: GLOBAL NICKEL METAL HYDRIDE BATTERY MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8: GLOBAL NICKEL CADMIUM BATTERY MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9: GLOBAL OTHER BATTERIES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10: GLOBAL BATTERY MARKET, BY APPLICATION, 2019-2027, (IN $ MILLION)

TABLE 11: GLOBAL AUTOMOTIVE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12: GLOBAL INDUSTRIAL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13: GLOBAL PORTABLE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14: OPPORTUNITY MATRIX

TABLE 15: VENDOR LANDSCAPE

TABLE 16: LEGAL, POLICY & REGULATORY FRAMEWORK

TABLE 17: GLOBAL BATTERY MARKET, BY GEOGRAPHY, 2019-2027, (IN $ MILLION)

TABLE 18: NORTH AMERICA BATTERY MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 19: EUROPE BATTERY MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 20: ASIA PACIFIC BATTERY MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 21: REST OF WORLD BATTERY MARKET, BY REGION, 2019-2027 (IN $ MILLION)

FIGURE LIST

FIGURE 1: GLOBAL BATTERY MARKET, BY BATTERY TYPE, 2018 & 2027 (IN %)

FIGURE 2: WORLDWIDE AUTOMOTIVE (CARS & COMMERCIAL VEHICLES) PRODUCTION, 2015-2020 (IN MILLION)

FIGURE 3: MOTOR VEHICLE PRODUCTION IN KEY GEOGRAPHIES, 2015 & 2016 (IN ‘000 UNITS)

FIGURE 4: WORLDWIDE SALES OF LIGHT DUTY ELECTRIC VEHICLES, 2015-2024 (IN MILLION UNITS)

FIGURE 5: AVERAGE ANNUAL OPEC CRUDE OIL PRICE, 2010-2018 (IN $ PER BARREL)

FIGURE 6: AVERAGE PRICES FOR LEAD WORLDWIDE, 2014-2018 (IN $ PER METRIC TON)

FIGURE 7: AVERAGE LITHIUM CARBONATE PRICE, 2010-2017 (IN $ PER METRIC TON)

FIGURE 8: AVERAGE SELLING PRICE OF ZINC, JANUARY 2016-JANUARY 2017 (IN $/LB)

FIGURE 9: GLOBAL BATTERY MARKET, BY LEAD ACID BATTERY, 2019-2027 (IN $ MILLION)

FIGURE 10: GLOBAL BATTERY MARKET, BY LITHIUM ION BATTERY, 2019-2027 (IN $ MILLION)

FIGURE 11: GLOBAL BATTERY MARKET, BY NICKEL METAL HYDRIDE BATTERY, 2019-2027 (IN $ MILLION)

FIGURE 12: GLOBAL BATTERY MARKET, BY NICKEL CADMIUM BATTERY, 2019-2027 (IN $ MILLION)

FIGURE 13: GLOBAL BATTERY MARKET, BY OTHER BATTERIES, 2019-2027 (IN $ MILLION)

FIGURE 14: GLOBAL BATTERY MARKET, BY AUTOMOTIVE, 2019-2027 (IN $ MILLION)

FIGURE 15: GLOBAL BATTERY MARKET, BY INDUSTRIAL, 2019-2027 (IN $ MILLION)

FIGURE 16: GLOBAL BATTERY MARKET, BY PORTABLE, 2019-2027 (IN $ MILLION)

FIGURE 17: PORTER’S FIVE FORCE ANALYSIS

FIGURE 18: VALUE CHAIN ANALYSIS

FIGURE 19: GLOBAL BATTERY MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 20: UNITED STATES BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 21: CANADA BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 22: UNITED KINGDOM BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23: GERMANY BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24: FRANCE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25: SPAIN BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26: ITALY BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27: REST OF EUROPE BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28: CHINA BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29: JAPAN BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30: INDIA BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31: SOUTH KOREA BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32: AUSTRALIA BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33: REST OF ASIA PACIFIC BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34: LATIN AMERICA BATTERY MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35: MIDDLE EAST & AFRICA BATTERY MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY BATTERY TYPE
    • LEAD ACID BATTERY
    • LITHIUM ION BATTERY
    • NICKEL METAL HYDRIDE BATTERY
    • NICKEL CADMIUM BATTERY
    • OTHER BATTERIES
  2. MARKET BY APPLICATION
    • AUTOMOTIVE
    • INDUSTRIAL
    • PORTABLE
  3. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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