Press release
Rechargeable Batteries Market Demand, In-depth Analysis and Estimated Revenue Forecast Till 2030
Rise in demand for continuous power supply from the mining and oil & gas industries and increasing need for electrification and continuous power supply in developing regions drive the growth of the global rechargeable batteries market. On the other hand, strict regulations pertaining to emission reduction in fossil fuel-powered equipment impede the growth to some extent. However, advent of digital technology solutions is expected to create lucrative opportunities in the industry. Global rechargeable batteries industry was estimated at $90.0 billion in 2020, and is anticipated to hit $150.0 billion by 2030, registering a CAGR of 5.3% from 2021 to 2030.
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Demand for rechargeable batteries has witnessed tremendous growth driven by increasing penetration in applications such as automobile, industrial, and consumer electronics. All industry players are investing heavily to find new commercial avenues for their product segments via strategic production, new product launch, and business expansion. Some of the major factors that drive the demand for rechargeable batteries include surging requirement for continuous power supply from critical infrastructures in wake of COVID-19, increasing demand for electric vehicles, and growing need for battery-operated material-handling equipment in industries due to automation. However, safety issues related to storage and transportation of spent batteries and low-cost alternatives in energy storage space are expected to hamper the rechargeable batteries market growth during the forecast period. Furthermore, expanding data center infrastructure and declining prices of lithium-ion batteries is expected to provide growth opportunities for the rechargeable batteries market during the forecast period.
Based on battery type, the lead-acid batteries segment held the major share in 2020, accounting for around three-fifths of the global rechargeable batteries market, owing to the benefit of uninterrupted power supply in automotive, telecommunication, transport vehicles, and electric bikes. At the same time, the Li-ion batteries segment would register the fastest CAGR of 6.1% from 2021 to 2030, due to its growing demand for electric vehicles (EVs). This is attributed to the huge demand for these batteries from the automotive sector.
Based on application, the automobile segment contributed to around two-fifths of the global rechargeable batteries market revenue in 2020, and is projected to lead the trail throughout the forecast period. Growing consumption of consumer electronics devices such as LCD displays, smartphones, tablets, and wearable devices such as fitness bands drives the segment growth. However, the consumer electronics segment is projected to grow at the fastest CAGR of 5.9% from 2021 to 2030.
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Region-wise, the global rechargeable batteries market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific emerged as the leader in 2020, owing to growing automotive and consumer electronics industry and surge in consumption of rechargeable batteries across these industries. Asia-Pacific accounted for a major rechargeable batteries market share in 2020, and dominated the global market with one-third of the total market share in 2020.
The major players studied and profiled in the global rechargeable batteries industry are East Penn Manufacturing, EnerSysl, Exide Technologies, Johnson Controls, LG Chem, Saft, Samsung SDI, Panasonic Corporation, Apple Inc., and STMicroelectronics N.V.
Key findings of the study
• In 2020, Asia-Pacific dominated the global rechargeable batteries market with around 33.0% share, in terms of revenue.
• North America is projected to grow at the highest CAGR of 5.7% in terms of revenue.
• The lead-acid batteries segment dominated the global rechargeable batteries market with around 55.0% of the share in terms of revenue
• The Li-ion batteries segment is projected to grow at the highest CAGR of 6.1% in terms of revenue.
• The 6000 - 10000 mAh segment dominated the global rechargeable batteries market with around 35.0% of the share in terms of revenue.
• The 1300 - 2700 mAh segment is projected to grow at the highest CAGR of 5.9% in terms of revenue.
• The automobile segment dominated the global rechargeable batteries market with 40.0% of the share in terms of revenue.
• The electronics segment is projected to grow at the highest CAGR of 5.9% in terms of revenue
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David Correa
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Web: www.alliedmarketresearch.com
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About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/9659
Demand for rechargeable batteries has witnessed tremendous growth driven by increasing penetration in applications such as automobile, industrial, and consumer electronics. All industry players are investing heavily to find new commercial avenues for their product segments via strategic production, new product launch, and business expansion. Some of the major factors that drive the demand for rechargeable batteries include surging requirement for continuous power supply from critical infrastructures in wake of COVID-19, increasing demand for electric vehicles, and growing need for battery-operated material-handling equipment in industries due to automation. However, safety issues related to storage and transportation of spent batteries and low-cost alternatives in energy storage space are expected to hamper the rechargeable batteries market growth during the forecast period. Furthermore, expanding data center infrastructure and declining prices of lithium-ion batteries is expected to provide growth opportunities for the rechargeable batteries market during the forecast period.
Based on battery type, the lead-acid batteries segment held the major share in 2020, accounting for around three-fifths of the global rechargeable batteries market, owing to the benefit of uninterrupted power supply in automotive, telecommunication, transport vehicles, and electric bikes. At the same time, the Li-ion batteries segment would register the fastest CAGR of 6.1% from 2021 to 2030, due to its growing demand for electric vehicles (EVs). This is attributed to the huge demand for these batteries from the automotive sector.
Based on application, the automobile segment contributed to around two-fifths of the global rechargeable batteries market revenue in 2020, and is projected to lead the trail throughout the forecast period. Growing consumption of consumer electronics devices such as LCD displays, smartphones, tablets, and wearable devices such as fitness bands drives the segment growth. However, the consumer electronics segment is projected to grow at the fastest CAGR of 5.9% from 2021 to 2030.
Make Purchase Enquiry @ https://www.alliedmarketresearch.com/rechargeable-batteries-market/purchase-options
Region-wise, the global rechargeable batteries market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific emerged as the leader in 2020, owing to growing automotive and consumer electronics industry and surge in consumption of rechargeable batteries across these industries. Asia-Pacific accounted for a major rechargeable batteries market share in 2020, and dominated the global market with one-third of the total market share in 2020.
The major players studied and profiled in the global rechargeable batteries industry are East Penn Manufacturing, EnerSysl, Exide Technologies, Johnson Controls, LG Chem, Saft, Samsung SDI, Panasonic Corporation, Apple Inc., and STMicroelectronics N.V.
Key findings of the study
• In 2020, Asia-Pacific dominated the global rechargeable batteries market with around 33.0% share, in terms of revenue.
• North America is projected to grow at the highest CAGR of 5.7% in terms of revenue.
• The lead-acid batteries segment dominated the global rechargeable batteries market with around 55.0% of the share in terms of revenue
• The Li-ion batteries segment is projected to grow at the highest CAGR of 6.1% in terms of revenue.
• The 6000 - 10000 mAh segment dominated the global rechargeable batteries market with around 35.0% of the share in terms of revenue.
• The 1300 - 2700 mAh segment is projected to grow at the highest CAGR of 5.9% in terms of revenue.
• The automobile segment dominated the global rechargeable batteries market with 40.0% of the share in terms of revenue.
• The electronics segment is projected to grow at the highest CAGR of 5.9% in terms of revenue
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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