Battery

Global battery market is expected to grow at a significant rate during the forecast period. The growth is attributed to strong demand for consumer electronics, growing demand for transportation and fuel saving. Government incentives for cleaner transportation and new hybrid and electric automotive models from Original Equipment Manufacturers (OEMs). The demand for batteries used in automobiles, two-wheelers, aircraft, and marine vessels is directly proportional to the demand for these modes of transportation. Rising popularity of consumer electronics on a global level is expected to result in high lithium ion batteries over the forecast period. High demand for portable electronics including smartphones, LCD displays, tablets and wearable devices such as fitness bands propel battery market growth.Electric power is cheaper and cleaner than conventional fuels, which helps in the reduction of CO2 emissions which are responsible for global warming. Technological advancements in the field of alternative fueled vehicles such as electric vehicles are estimated to present an attractive opportunity for the market players. Stringent emission norms by governments of developed nations including the US and UK coupled with rising focus towards fuel efficiency is expected to propel market demand. Moreover, the increasing growth in smart grid technologies has given rise to the need for stability and management of electricity within grids.

Global battery market is segmented on the basis of category, type, and application. On the basis of type, the market is further sub-divided into primary battery and secondary battery. Based on the type, the market Li-Ion battery, Ni-MH battery, Nickel Cadmium battery, lead acid battery, and other batteries. Moreover, as per application, the market is further diversified as an automotive application, industrial application, household application, telecommunication, and other applications.
The global battery market is further analyzed into the geographical regions that are contributing significantly towards the growth of the market. Asia-Pacific is estimated to hold the dominant position in the global battery market due to the high adoption of consumer electronics in the region. Moreover, India and China are key manufacturing countries in the consumer electronics segment owing to the availability of skilled labor and low production and setup costs. Moreover, North America and Europe are expected to witness significant growth on account of rising electric vehicle production.
Some of the key players operating in the global battery market include Exide Technologies, Robert Bosch GmbH, Saft Groupe SA, and Panasonic Corporation, among others. At present, the growth strategies that largely drive market include product launch, acquisition, and partnership. For instance, Saft along with the ThyssenKrupp Marine Systems in October 2018, has developed a new lithium-ion battery system for submarines with a much higher lifetime.
Research methodology
The market study of the battery market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
Secondary sources include
• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Authenticate databases such as Department of Energy, the US Energy Information Administration, and others
The report is intended to battery manufacturer, automotive company, aerospace and defense industry, government organization, for overall market analysis, and competitive analysis. The report provides an in-depth analysis of pricing, market size, intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.
Market segmentation
Global battery market is segmented based on regional outlook and following segments:
1. Global battery Market Research and Analysis, By Category
2. Global battery Market Research and Analysis, By Type
3. Global battery Market Research and Analysis, By Application
4. Global battery Market Research and Analysis, By Region
THE REPORT COVERS
• Comprehensive research methodology of the global battery market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global battery market.
• Insights about market determinants which are stimulating the global battery market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.