+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Global Rechargeable Battery Market Research and Forecast 2022-2028

  • Report

  • 120 Pages
  • July 2022
  • Region: Global
  • Orion Market Research Private Limited
  • ID: 4537362

Global Rechargeable Battery Market Size, Share & Trends Analysis Report by Type (Lithium-Ion Battery, Sodium-Ion Battery, Nickel-Cadmium Battery, Nickel-Metal Hydride Battery, Zinc Nickel Battery, and Others), By Application (Consumer Electronics, Industrial Applications, Automobile Applications, Aerospace & Defense, and Others) Forecast, 2022-2028

The global rechargeable battery market is anticipated to grow significantly at a CAGR of 6.5% during the forecast period. The demand for rechargeable batteries is growing in the automotive, consumer appliance, electronic, and other industries. Rechargeable batteries have grown in popularity as an environmentally friendly and sustainable replacement alternative to non-rechargeable batteries, offering long-term cost-benefit and increased durability. The demand for rechargeable batteries has grown significantly as consumers have adopted portable devices such as cell phones, laptops, cordless power tools, and MP3 players.

Nowadays, consumers prefer rechargeable batteries owing to they are more energy-efficient, produce less waste, and can be charged with a standard battery charger. Furthermore, ongoing advances in the field of material sciences have enabled manufacturers to improve the performance of lithium-ion batteries, resulting in a surge in demand across the globe. Apart from it, the increasing competition from the fuel cell solutions is the factor that creating a challenge for the market during the forecast period. However, the high cost of designing and developing rechargeable flexible batteries is expected to inhibit their adoption rate during the forecast period.

Impact of COVID-19 Pandemic on Global Rechargeable Battery Market

The global rechargeable battery market is hit by the COVID-19 pandemic in December 2019. The automotive and transportation industries are among the most vulnerable sectors to the ongoing COVID-19 pandemic, and they are currently experiencing unprecedented uncertainty. COVID-19 is projected to have a substantial impact on the automotive supply chain and product demand. The industry's main concern has shifted from disruptions in China's supply chain to a general drop in demand for automotive items. With all non-essential services shut down, demand for an electric vehicle is projected to drop along with this the rechargeable battery sale has seen a huge decline among the countries. Meanwhile, a liquidity shortage and cash crunch have already had an impact on fleet operator sales, which is projected to worsen in the coming months. The market will witness “V” shape recovery in near future owing to the restart of activities in major economies.

Segmental Outlook

The global rechargeable battery market can be segmented based on type and application. Based on the type, the market is segmented into lithium-ion battery, sodium-ion battery, nickel-cadmium battery, nickel-metal hydride battery, zinc-nickel battery, and others. Apart from it, based on the application, the market is classified into consumer electronics, industrial applications, automobile applications, aerospace & defense, and others. The other segment of the application is classified into grid-level applications, military, and space applications. Due to the rising demand for IoT and wearable devices, the consumer electronics sector is projected to maintain its dominance during the forecast period.

Global Rechargeable Battery Market Share by Type, 2020 (%)

Global Rechargeable Battery Market Share by Type

Lithium-Ion Battery Segment holds the significant share in the Global Rechargeable Battery Market

Among the type for the global rechargeable battery market, the lithium-ion parking segment held the highest share in 2020 and is also anticipated to grow during the forecast period. Due to it offers high-energy density solutions and is lightweight, the lithium-ion segment is expected to grow in response to the growing demand for electric vehicles (EVs) and grid storage. As a result, demand for batteries in the manufacturing, railway, and solar power sectors is expected to rise over the forecast period as the need for storage and power backup grows. Due to the low maintenance properties and higher energy densities, Li-ion batteries are expected to be widely used in EV, energy storage systems, and portable devices. The next key segment of the global rechargeable battery market is nickel-cadmium and nickel-metal hydride batteries.

Regional Outlooks

The global rechargeable battery market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others), and the Rest of the World (the Middle East and Africa, and Latin America). North America has been expected to witness steady growth in the global rechargeable battery market. The growth is mainly attributed due to the growing demand for smart packaging in RFID and anti-theft tags, flexible batteries. Asia-Pacific is the fastest-growing region during the forecast period. Apart from it, the presence and active associations in Europe, such as the Association of European Automotive Industrial Battery Manufacturers and the PRBA, are promoting the safe use of lithium-ion batteries in a variety of applications through their established standards and certification.

Global Rechargeable Battery Market Growth, by Region 2022-2028

Global Rechargeable Battery Market Growth, by Region

Asia-Pacific is projected to have considerable growth in the Global Rechargeable Battery Market

Asia-Pacific is anticipated to exhibit significant growth in the global rechargeable battery market. In the region, countries such as China, Japan, and India are the most promising economies in terms of growth. This is due to the rising need for rechargeable battery solutions by the huge population and urbanization. As a part of their social responsibility, various business sectors have adopted rising concerns about sustainability and eco-friendliness. This, in turn, is expected to boost the rechargeable battery market growth in the region owing to the low environmental impact of flexible batteries.

Market Players Outlook

The key players of the global rechargeable battery market include Robert Bosch GmbH, BASF SE, A123 Systems LLC, BroadBit Batteries OY, Solvay Group, Tesla, Inc., MaxPower, Inc., Panasonic Corp., The AES Corp., Toshiba Corp., Contemporary Amperex Technology Co., Ltd. (CATL), among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2019, Tesla Inc. has paid around $218 million for energy storage company Maxwell Technologies, in a deal aimed at helping the electric carmaker improve its batteries and reduce costs as more competitors enter the market.

The Report Covers

  • Market value data analysis of 2020 and forecast to 2027.
  • Annualized market revenues ($ million) for each market segment.
  • Country-wise analysis of major geographical regions.
  • Key companies operating in the global rechargeable battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
  • Analysis of market entry and market expansion strategies.
  • Competitive strategies by identifying ‘who-stands-where’ in the market.

Table of Contents

1. Report Summary
  • Current Industry Analysis and Growth Potential Outlook
  • Impact of COVID-19 on the Global Rechargeable BatteryIndustry
  • Recovery Scenario of Global Rechargeable BatteryIndustry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Rechargeable Battery Market by Type
5.1.1. Lithium-Ion Battery
5.1.2. Sodium-Ion Battery
5.1.3. Nickel-Cadmium Battery
5.1.4. Nickel-Metal Hydride Battery
5.1.5. Zinc Nickel Battery
5.1.6. Others
5.2. Global Rechargeable Battery Market by Application
5.2.1. Consumer Electronics
5.2.2. Industrial Applications
5.2.3. Automobile Applications
5.2.4. Aerospace &Defense
5.2.5. Others (Grid-Level Applications)
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. A123 Systems LLC
7.2. Akzo Nobel N.V.
7.3. BASF SE
7.4. BroadBit Batteries Oy
7.5. BYD Company Ltd.
7.6. Cell-Con, Inc.
7.7. Contemporary Amperex Technology Co., Ltd. (CATL)
7.8. Duracell Inc.
7.9. Energus Power Solutions, Ltd.
7.10. GS Yuasa Corp.
7.11. LG Chem Ltd.
7.12. MaxPower, Inc.
7.13. OXIS Energy Ltd (OXIS)
7.14. Panasonic Corp.
7.15. ProLogium Technology Co., Ltd.
7.16. Robert Bosch GmbH
7.17. Shenzhen Nova Energy Co.,Ltd.
7.18. Showa Denko Materials Co., Ltd.
7.19. Solvay Group
7.20. Tesla, Inc.
7.21. The AES Corp.
7.22. Toshiba Corp.
7.23. ZPower, LLC

Companies Mentioned

A selection of companies mentioned in this report includes:

  • A123 Systems LLC
  • Akzo Nobel N.V.
  • BroadBit Batteries Oy
  • BYD Company Ltd.
  • Cell-Con, Inc.
  • Contemporary Amperex Technology Co., Ltd. (CATL)
  • Duracell Inc.
  • Energus Power Solutions, Ltd.
  • GS Yuasa Corp.
  • LG Chem Ltd.
  • MaxPower, Inc.
  • OXIS Energy Ltd (OXIS)
  • Panasonic Corp.
  • ProLogium Technology Co., Ltd.
  • Robert Bosch GmbH
  • Shenzhen Nova Energy Co.,Ltd.
  • Showa Denko Materials Co., Ltd.
  • Solvay Group
  • Tesla, Inc.
  • The AES Corp.
  • Toshiba Corp.
  • ZPower, LLC