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Global Battery Market Research Report:

The latest report by IMARC, titled “ Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” finds that the global battery market size reached US$ 116.6 Billion in 2022. A battery is a power supply unit that consists of one or more cells to convert chemical energy into electrical energy. It acts as a primary or backup power supply device in transport, industrial, and commercial applications. A battery consists of various components, such as a cathode, an anode and an electrolyte, operated on an electromotive force principle. It functions as an energy storage technology that is used in events of blackouts, power shortages, or heavy electricity demand. A battery is also durable, cost-effective, safe, stable, lightweight, reliable, and portable, and is available in various shapes and sizes. Some common types of batteries include lead-acid, lithium-ion, nickel-metal hydride (NiMH), and nickel-cadmium (NiCD).

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