Global Battery Market Trends, Share, Size, Stats & Analysis 2019-2027

GLOBAL BATTERY MARKET FORECAST 2019-2027

• The performance and lifetime of a battery are enhanced and optimized by the battery plate grid. The grid composition balances out the specific gravity of the electrolyte, the active material used and the concentration of lead. • Batteries are mostly used in automobiles, electronics, golf carts, and forklifts among others. Their daily use aspect lies in cases of power shortages, blackouts or when the demand for power gets high. • The market has been predicted to expand at a growth rate of 6.63% CAGR during the forecasting years of 2019-2027, driven by various factors. For instance, the development of the automobile and motorcycle industry has been very crucial for the advancement of the battery market globally.

• The growing preference for pollution-free hybrid & electric vehicles along with rapid technological developments are a few factors that have influenced the market penetration.

• Also, the decreasing cost of lithium-ion batteries and surging energy storage deployments in power grids & UPS systems are responsible for driving the growth.

• The multiple properties of the batteries such as durability, dependability, low maintenance costs, and high discharge rate capability are expected to increase its demand in the global market.

• Crude oil and natural gas derivatives are the primary feedstock for the production of the raw materials for battery manufacture, so fluctuations in the prices of the oil & gas products can perturb the battery market also.

“The Global Battery Market was valued at $XX billion in 2018 and is projected to grow with a CAGR of 6.63% during the forecast period, to reach an expected value of $135.43 billion by the year 2027. “

The North American market for the battery is expected to grow at a CAGR of 4.30% from 2019 to 2027.

The European battery market will be valued $xx million by the year 2027 and is projected to grow with a CAGR of 5.32% during the forecast period of 2019-2027.

The Asia Pacific market for batteries is projected to have an escalated growth of 7.55% CAGR during the forecasting period of 2019-2027.

Eveready Industries India Ltd., Johnson Controls, NEC Corporation, EnerSys, East Penn Manufacturing Company, Inc., Panasonic Corporation, Crown Battery Manufacturing Company, C&D Technologies, Inc. (acquired by KPS Capital Partner), Toshiba Corporation, Murata Manufacturing Co., Ltd., LG Chem Ltd., BYD Company, Ltd., Exide Technologies, Saft Groupe S.A., A123 Systems, LLC, Samsung SDI Co., Ltd., Hitachi, Ltd., Shenzhen BAK Battery Co., Ltd., GS Yuasa Corporation and Duracell International, Inc. are some of the eminent companies operating in the global market.