GLOBAL BATTERY MARKET FORECAST 2022-2030
KEY FINDINGS The global battery market is predicted to record a CAGR of 16. 68% during the forecasted period of 2022 to 2030. The market growth is reinforced by the incentives for EV battery manufacturing, the declining prices of batteries, the growing demand for automotive applications, especially electric vehicles, and the rising popularity of consumer electronics.
New York, June 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GLOBAL BATTERY MARKET FORECAST 2022-2030" - https://www.reportlinker.com/p05749262/?utm_source=GNW
An electric battery is characterized as an electric power source constituting one or more electrochemical cells, in addition to external connections to power electrical equipment. It also stores chemical energy, subsequently converting it into electrical energy.
Governments of various countries across the globe are providing incentives for manufacturing electric vehicle batteries, thus facilitating the growth of the global battery market during the forecast period. For instance, in 2022, the United States Department of Energy announced a new $3 billion program for battery manufacturing and supply chain to support the transition to electric vehicles.
Moreover, the infrastructural investments also aim to support the development of new, retrofitted, as well as expanded commercial facilities, in addition to battery recycling and manufacturing demonstrations. On the other hand, the Department of Energy also announced $60 million for reinforcing second-life applications for batteries, formerly utilized to power electric vehicles, as well as new processes for recycling materials into the battery’s supply chain.
The global battery market growth assessment comprises the evaluation of North America, the Asia-Pacific, Europe, and Rest of World. North America is set to dominate the global market during the forecasted years owing to key factors such as the decreasing prices of the lithium-ion battery, growth in the renewable energy sector, rise in the adoption of electric vehicles, and increasing sales of consumer electronics.
Since the global market is fragmented, the presence of numerous large players across different regions facilitates a higher level of competition. Some of the top firms operating in the market are Exide Technologies, A123 Systems LLC, GS Yuasa International Ltd, LG Chem Ltd, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
1. A123 SYSTEMS LLC
2. BYD COMPANY LTD
3. C&D TECHNOLOGIES INC
4. CROWN BATTERY MANUFACTURING COMPANY
6. EAST PENN MANUFACTURING CO
8. EVEREADY INDUSTRIES
9. EXIDE TECHNOLOGIES
10. GS YUASA INTERNATIONAL LTD
11. JOHNSONS CONTROLS INC
12. LG CHEM LTD
13. MURATA MANUFACTURING CO LTD
14. NEC CORPORATION
15. PANASONIC CORPORATION
16. SAFT GROUPE SA
17. SAMSUNG SDI CO LTD
18. SHENZHEN BAK BATTERY CO LTD
19. TOSHIBA CORPORATION
20. TROJAN BATTERY COMPANY
Read the full report: https://www.reportlinker.com/p05749262/?utm_source=GNW
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