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Battery - Global Market Trajectory & Analytics

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    Report

  • 815 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5303140

FEATURED COMPANIES

  • A123 Systems LLC
  • Duracell Inc.
  • Exide Technologies, Inc.
  • NEC Corporation
  • Robert Bosch GmbH
  • Samsung SDI Co., Ltd.

Global Battery Market to Reach US$173.7 Billion by the Year 2026


Batteries are indispensable power source for a wide variety of power-hungry electronic devices in consumer and industrial applications. Batteries are found in all sectors of the economy that use electronic/electrical equipment, where an AC line cord or other type of energy source does not derive energy. Batteries stock power chemically and transfer power to electronic applications and devices to function properly. Batteries enclosed with cells contain same type of chemistry to match the respective operating devices. The usage of batteries dates back to 200 BC and the modern battery traces its roots to the battery built by Alessandro Volta in the early 19th century. The first batteries made use of basic materials such as Zinc, silver, blotting paper, and salt water to store energy. Over time, the materials used for the construction of batteries and the materials have changed but the operating principle of a battery remains the same to date. Depending on application and power requirement, batteries can be of many types such as Sodium-based, Lead-based, Nickel-based, and Lithium-based. Each battery technology has its unique applications. For instance, Sodium-based batteries are extensively used in small power devices with AA and AAA batteries being the common examples. On the other end of the spectrum, Lithium-based batteries pack high power density and find application in multitude of devices ranging from electronic devices such as mobile phones to electric vehicle batteries.

Amid the COVID-19 crisis, the global market for Battery estimated at US$114.9 Billion in the year 2022, is projected to reach a revised size of US$173.7 Billion by 2026, growing at a CAGR of 10.3% over the analysis period. Lead Acid, one of the segments analyzed in the report, is projected to grow at a 6.4% CAGR to reach US$46.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lithium Ion segment is readjusted to a revised 16.7% CAGR for the next 7-year period. This segment currently accounts for a 29.3% share of the global Battery market.

The battery industry banks on replacement sales as demand growth is related to service life. Even long-lasting rechargeable secondary batteries need replacement in the long run. These factors make replacement sales the driving force behind market growth. Another important factor which of late is influencing demand for batteries is product safety and environmental sustainability. Reflective of the fact is the growing global momentum towards banning of hazardous substances, such as mercury, cadmium, and lead from batteries. Already armed with the growing knowledge of harmful impact of batteries, certain regions such as Europe, have formulated directives, which restrict the usage of hazardous components like cadmium in batteries. Therefore, it is not surprising that in the coming years, battery chemistries such as Nickel-cadmium (Ni-Cd), would witness lackluster growth, particularly in the developed markets, where environmental concerns are gaining paramount attention among consumer groups and manufacturers alike.

Presently, the consumer batteries market is dominated by secondary batteries segment. The secondary/rechargeable batteries segment would see lithium-ion rechargeable batteries display the maximum growth opportunities, driven by the widespread popularity of smartphones and notebooks/laptops. On the other hand, although alkaline batteries would continue to be a dominant force in the primary batteries market, fastest growth in the segment, however would emanate from emerging chemistries such as primary lithium, thereby offering stiff competition to existing chemistries in the segment. Region-wise, emerging markets will be the chief contributors propelling the market forward in the years to come, all thanks to rising income levels of consumers in these regions. Going forward, battery manufacturers will continue to provide longer lasting batteries by improving the energy density of existing chemistries or by using new chemistries. This factor, coupled with the continuing emergence of power hungry electronic devices, will continue to drive the consumer battery industry forward in the coming years.

The U.S. Market is Estimated at $16.8 Billion in 2022, While China is Forecast to Reach $32.5 Billion by 2026


The Battery market in the U.S. is estimated at US$16.8 Billion in the year 2022. The country currently accounts for a 14.81% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$32.5 Billion by the year 2026 trailing a CAGR of 12.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 9.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.8% CAGR while Rest of European market (as defined in the study) will reach US$36.9 Billion by the close of the analysis period.

Asia-Pacific (including China) accounts for a substantial share of the Li-ion battery market. Driven mainly by the growing sales of consumer electronics and EVs and increasing emphasis on renewable energy systems, especially in China and India, the Li-ion battery market is witnessing strong growth in the region. Rapid pace of industrialization, growing demand for auto industry and the significant investments being made into the sector in countries such as China and India will drive growth. With Asia-Pacific home to some of the leading electronics companies, the Li-ion batteries market is poised for growth. Renewable energy sector in Asia is gaining strength, due to the need to cut down greenhouse emissions and to meet the growing energy requirements of the developing economies. China especially is a promising market due to the country being a global manufacturing hub of EVs, which make use of Li-ion batteries. The region`s Li-ion battery market also benefits from China`s leadership in production of electronic devices. India is also expected to emerge as a major market for Li-ion batteries, due to the country`s target to achieve 100% EV sales by the year 2030.

The battery market in North America is projected to register improved growth due to rising demand for consumer electronics, high uptake of electric vehicles, expansion of the renewable energy sector and declining costs of Li-ion batteries. The region remains a leading consumer of advanced batteries and is witnessing consistent focus on battery-related innovations. The regional market is gaining from favorable policies that are offering desired boost to electric vehicles. Government policies are paving way for large-scale production of electric vehicles and encouraging customers to embrace the technology. Europe is anticipated to experience a strong growth in the coming years as a result of increasing production and uptake of electric vehicles. European market for Li-ion batteries is being driven by the growing adoption of EVs and the rising sales of portable electronic devices. The increased focus on energy storage systems, specifically for renewable energy technologies, is presenting growth opportunities for the market. The US market for Li-ion battery will be driven by the rising emphasis on use of energy storage systems and the growing importance of clean energy technologies. With the country being an active adopter of battery storage systems based on Li-ion technology, there is high growth potential in this segment. The growing consumer electronics industry is also expected to fuel demand for Li-ion batteries.

Nickel Metal Hydride Segment to Reach $20 Billion by 2026

Nickel metal hydride (NIMH) batteries are a type of rechargeable batteries that are typically characterized by higher energy density, superior capacity, and longer run time between charges. NIMH batteries display high discharge rate, longer life span, and wide operating temperature of -50oC to +85oC. Leveraging the unique properties, NiMH batteries can seamlessly deliver higher levels of energy for today`s electronic products. Made in stable and compatible sizes, NIMH batteries are easy to transport. Leading vendors such as Panasonic offer NiMH batteries that do not associate themselves with air restrictions or regulations and have highest level safety standards. In the global Nickel Metal Hydride segment, USA, Canada, Japan, China and Europe will drive the 3.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$12.3 Billion will reach a projected size of US$15.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.4 Billion by the year 2026, while Latin America will expand at a 3.3% CAGR through the analysis period.

Select Competitors (Total 262 Featured):

  • A123 Systems LLC
  • BYD Company Ltd.
  • Contemporary Amperex Technology Co. Ltd.
  • Duracell Inc.
  • EnerDel, Inc.
  • Eveready Industries India Ltd.
  • Exide Technologies, Inc.
  • GS Yuasa International Ltd.
  • Hitachi High-Tech Corporation
  • Johnson Controls International PLC
  • LG Chem Ltd.
  • NEC Corporation
  • Panasonic Corporation
  • Robert Bosch GmbH
  • Saft Groupe SA
  • Samsung SDI Co., Ltd.
  • Sony Corporation
  • Tesla, Inc.
  • Toshiba Corporation
  • Trojan Battery Company

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

FEATURED COMPANIES

  • A123 Systems LLC
  • Duracell Inc.
  • Exide Technologies, Inc.
  • NEC Corporation
  • Robert Bosch GmbH
  • Samsung SDI Co., Ltd.

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • COVID-19 Pandemic: A Review
  • As the Race between the Virus & Vaccines Intensifies, Review of the World Economy in 2021 and Beyond
  • With IMF Making an Upward Revision of Global GDP for 2022, Companies Remain Bullish About an Economic Comeback
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Disruption to Supply Chains Impacts Battery Materials Market Prospects
  • COVID-19 Pandemic Drives Europe to Fortify All Sections of Battery Value Chain
  • Energy-Storage Materials for Li-Ion Batteries Face COVID-19 Headwinds
  • Battery - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Importance of Batteries in the Modern World
  • What is a Battery?
  • Evolution of Battery over the Years: A Snapshot
  • Market Outlook
  • Asia-Pacific to Experience Favorable Growth
  • Regionalization of Supply Chains
  • Competition in Li-Ion Battery Market
  • Market Share of Leading Li-ion Battery Manufacturers (in %): 2020
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Li-ion Battery Registers Strong Growth with Expanding Applications in Consumer Electronics, Electric Vehicles and Energy Storage Sectors
  • A Comparative Review of Key Properties of Different Li-ion Batteries
  • Existing and Emerging Applications of Lithium-Ion Batteries
  • China Dominates Li-ion Battery Production, US and Europe Make Efforts to Gain Strong Position
  • Global Li-ion Battery Manufacturing Capacity (in GWh) for the Years 2019, 2022 and 2025
  • Global Li-ion Battery Market Production Capacity Share Breakdown by Region/Country for 2020 and 2030
  • Global Li-ion Battery Production Capacity Pipeline in GWh for 2020 and 2030
  • Leading Li-ion Battery Mega Factories Worldwide: Ranked by Storage Capacity in GWh Per Annum
  • Robust Outlook for EVs Opens New Avenues of Growth for EV Batteries
  • Pandemic Impact on EVs and Prospects for Battery Technologies
  • Global Electric Vehicle Sales % Change in 2020
  • Electric Micromobility Rises in Prominence Amid Covid-19 Pandemic
  • Global Electric Passenger Car Stock (In Million Units) for the Years 2017, 2018, 2019, 2020 & 2025P
  • Global Electric Heavy Duty Vehicles Stock (In Million Units) for the Years 2017, 2018, 2019, 2020 & 2025P
  • Global Automakers Focus on Securing Raw Materials for EVs
  • Projected Demand for Metals and Minerals from Li-ion Battery Packs Used in Passenger EVs by Type for the Years 2025 and 2030 (In Thousand Metric Tons)
  • Rising Sales of Electric Buses Bolsters Demand for Li-ion Batteries
  • Shortfall of Raw Materials to Augment Cost of EV Batteries
  • Volume Weighted Average Price of Lithium Ion Battery Across All Sectors: 2014-2020
  • Major Players Operating in the EV Battery Space
  • Production of Electric Cars Set to Increase Focus on Recycling
  • Global Li-ion Battery Recycling Market Share Breakdown by Region/Country for 2021
  • Li-ion Batteries Emerge as the Dominant Technology for Grid-Scale Energy Storage
  • Comparison of Key Features for NaS Battery, Lithium-ion Battery, and Flow Battery Technologies
  • Rapid Growth of Renewable Energy Market Drives Opportunities
  • Global Cumulative PV Capacity Additions in GW: 2018, 2020, 2022, 2024, 2026
  • Increase in Offshore Wind Installations Presents New Opportunities: Global Offshore Wind Net Capacity Additions (In GW) for The Years 2018-2022
  • Lithium-ion Solar Batteries Hold an Edge over Lead Acid Batteries for Residential Solar Customers
  • Key Trends Driving the Battery Energy Storage Systems Market
  • Rapid Proliferation of Smart Homes Bodes Well for Battery Uptake
  • Driven by Focus on Convenience, Comfort and Energy Savings, the Rising Proliferation of Smart Homes Presents Steady Growth Opportunities for Batteries Market: Growth in Total Number of Smart Homes (In Millions) for the Years 2019, 2021, 2023, 2025 & 2026
  • Smart Cities & IoT Push Up the Need for Smart Batteries
  • New Battery Chemistry and Modularity at the Forefront of Innovations in UPS Systems
  • Battery Management Gains Precedence
  • Backup Power Demand Gives Special Thrust to Lead-Acid Batteries amid COVID-19
  • Graphene Holds the Potential to Enhance Attributes of Li-ion Batteries
  • Smart UPS Systems Built on Li-Ion Batteries Present Exciting Opportunities for Data Centers to Leverage Stored, Unused Energy
  • Increasing Adoption of Li-ion Batteries in Data Centers: Battery-based Backup (in GWh) for Li-ion Batteries in North American and European Data Centers for the Years 2019, 2021, 2023 and 2025
  • Complex Infrastructure and Scale of Modern Data Centers Necessitates Energy Storage: Potential for Flow Batteries
  • Demand for Portable Batteries Set to Rise in Tandem with Expansion of Portable Applications
  • Opportunities and Challenges of Sustainable Battery Production
  • Li-ion Batteries Offer Support for Industrial Applications
  • Increased Preference for Li-ion Batteries by Motorcycle Manufacturers Due to High Resistivity to Drive the Market Growth
  • Global Motorcycles Market (In Million US$) for the Years 2018, 2021, 2023 & 2025
  • Dynamics in the Consumer Batteries Space
  • Global Consumer Electronics Market (In US$ Billion) for the Years 2018 through 2024
  • Growing Demand for Mobile Computing Devices To Spur Demand
  • World Consumer Li-Ion Rechargeable Battery Market by Application (2021): Percentage Breakdown of Volume Shipments for Mobile Phone, Notebook PC, Tablet PC and Others
  • Widespread Use of Li-ion Batteries in Smartphones
  • Global Smartphone Shipments in Million Units: 2010-2021
  • Li-ion Batteries Gain Momentum in Wearable Devices
  • Global Electronic Wearables Shipments (In Million Units) for Years 2020, 2022, 2024 & 2026
  • Demand for Smart Batteries Pushes Up the Importance of Battery Fuel Gauge ICs
  • The Rise of Drones Spurs Demand for Drone Batteries
  • Advanced Batteries for UAV Drones
  • Global Number of Commercial Drones (In Units) for Years 2020, 2022, 2024 & 2026
  • Nickel Cadmium Batteries: Declining Demand Deters Market Prospects
  • Decelerating Demand Deters Nickel Metal Hydride Batteries Segment
  • Flow Batteries Gain Demand
  • Smart Grids Elevate the Prospects for Flow Batteries
  • Pandemic Impact on the Vanadium Redox Battery Market
  • Vanadium Flow Batteries: Unveiling the Much Needed Energy Storage Breakthrough
  • Global Next Generation Advanced Batteries to Witness Rapid Growth as Industry Focuses on Sustainability
  • Lithium Polymer Battery Attracts Growth
  • Lithium Sulphur Batteries Demand to Accelerate
  • Lead-Acid Batteries Remain Central to the Automotive Industry
  • Short Life of Lead Acid Batteries & Growing Vehicle PARC Fuels Opportunities for Aftermarket Batteries
  • Auto Production Halts Induced by Chip Shortages Hobbles Much Awaited Recovery
  • World Automobile Production in Million Units: 2008-2022
  • Passenger Car Production % YoY Change Across Select Countries: 2020 Vs 2019
  • Rising Share of Electronics in Automobiles to Augment Demand
  • Growing Significance of Solid-State Batteries Over Traditional Lithium-ion Battery Systems to Drive the Market Growth
  • Solid-State Technology Seeks Role in EV Domain
  • Battery Chemistry Improvements Augment Innovations & Advancements
  • Researchers Aim to Develop Advanced Li-Ion Batteries for Electric Vehicles
  • Inadequacies of Electrolyte-based Li-Ion Battery Cells Prompt New R&D Investments
  • Select Battery Innovations and Developments
  • Favorable Demographic & Socio-Economic Trends Strengthen Market Prospects
  • Rapid Growth in Urban Households
  • World Urban Population in Millions: 1950-2050
  • Growing Affluence of Middle Class Consumer Segment
  • Growing Affluence of Middle Class Consumer Segment
  • Rising Living Standards
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
CANADA
JAPAN
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
FRANCE
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Battery Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 262

A selection of companies mentioned in this report includes:

  • A123 Systems LLC
  • BYD Company Ltd.
  • Contemporary Amperex Technology Co. Ltd.
  • Duracell Inc.
  • EnerDel, Inc.
  • Eveready Industries India Ltd.
  • Exide Technologies, Inc.
  • GS Yuasa International Ltd.
  • Hitachi High-Tech Corporation
  • Johnson Controls International PLC
  • LG Chem Ltd.
  • NEC Corporation
  • Panasonic Corporation
  • Robert Bosch GmbH
  • Saft Groupe SA
  • Samsung SDI Co., Ltd.
  • Sony Corporation
  • Tesla, Inc.
  • Toshiba Corporation
  • Trojan Battery Company