The Business Research Company’s Batteries Global Market Report 2021: COVID-19 Impact And Recovery
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According to the new market research report ‘Batteries Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the batteries market is expected to grow from $82.95 billion in 2020 to $90.24 billion in 2021 at a compound annual growth rate (CAGR) of 8.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $126.85 billion in 2025 at a CAGR of 9%.
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The batteries market consists of sales of batteries by entities (organizations, sole traders and partnerships) that produce primary and storage batteries. Examples of primary batteries include disposable flashlight batteries, dry cells, primary (e.g., AAA, AA, C, D, 9V), lithium batteries, primary, and watch batteries. Examples of storage batteries include lead acid storage batteries, lithium storage batteries, and rechargeable nickel-cadmium (NICAD) batteries.
Trends In The Global Batteries Market
Flow batteries are gaining prominence due to low energy density than normal lithium-ion batteries. Flow batteries are rechargeable batteries where chemical energy is provided by the two chemical components dissolved in liquids which are contained within a system. It doubles the maximum voltage and yields high storage capacity of renewable power. They have the advantage of supplying power to a large network of electric grid by storing a huge amount of energy than traditional batteries. For instance, some of the major companies manufacturing flow batteries include Sumitomo Electric Industries, UniEnergy Technologies, Dalian Rongke Power and Gildemeister.
Global Batteries Market Segments:
The global battery market is further segmented:
By Type: Secondary Batteries, Primary Batteries
By Application: Automotive Batteries, Industrial Batteries, Portable Batteries, Power Tools Batteries, SLI Batteries, Others
By Sales Channel: OEM, Aftermarket
By Mode: Online, Offline
Subsegments Covered: Lead Acid, Lithium-Ion (Li-Ion), Nickel-Cadmium (Ni-Cd), Nickel Metal Hydride, Other Secondary Batteries, Alkaline Primary Batteries, Lithium Primary Batteries, Other Primary Batteries
By Geography: The global batteries market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global batteries market.
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Batteries Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides batteries global market overviews, analyzes and forecasts market size and growth for the global batteries market, batteries market share, batteries global market players, batteries global market segments and geographies, batteries market’s leading competitors’ revenues, profiles and market shares. The batteries market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Batteries Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Batteries Market Organizations Covered: Panasonic Corporation, Johnson Controls Inc, GS Yuasa Corporation, East Penn Manufacturing Co Inc, EnerSys Ltd.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Here is a list of reports from The Business Research Company similar to the Batteries Global Market Report 2021:
Secondary Batteries Global Market Report: COVID-19 Impact And Recovery
Lithium Primary Batteries Global Market Report 2021: COVID-19 Impact And Recovery To 2030
Alkaline Primary Batteries Global Market Report 2021: COVID-19 Impact And Recovery To 2030
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Source: EIN Presswire