Battery Market Overview:
The global Li-ion battery market is valued at $13.1 billion in 2017 and is expected to grow at a CAGR of 9.1%. The Asia Pacific is expected to be the largest market in the forecast period due to the growing end-user industries like automotive and electrical & electronics industry. Mobile phones are the largest revenue segment in the global Li-ion batteries market and it is expected to be the largest in the forecast period due to the incredible demand for smartphones. The global automotive battery market is valued at $23.19 billion in 2017 and it is expected to grow at a CAGR of 8.5%. The revenue for electric vehicles segment in the global automotive battery market is expected to be the highest in the forecast period due to the rising demand for electric vehicles globally.
Battery Market Outlook:
Batteries are mainly two types, primary and secondary or rechargeable. In the primary batteries, alkaline & carbon zinc batteries are small dry cell batteries and are used in cameras, toys, watches, and handheld electronics. Lithium batteries are used in watches, cameras, tire pressure sensors, alarms and pacemakers. Mercury cell batteries are used in cameras and medical devices. Silver oxide batteries are used in hearing aids, watches, torpedoes, and cameras. Zinc-air batteries are used in electric vehicles (mechanically recharged), watches and hearing aids.
In the secondary type batteries, Lead acid gel batteries are used in wheelchairs, scooters, golf carts, boats, military aircraft and portable tools. Lithium-ion batteries are used in cell phones, laptop computers, power tools, video cameras and handheld electronics. Nickel-Cadmium batteries are used in cell phones, laptop computers, power tools, handheld electronics, toys and medical equipment. Nickel metal hydride batteries are used in cell phones, laptop computers, PDAs, power tools, cameras, handheld electronics and R/C hobby vehicles. Absolyte batteries are used in telecommunications systems, railroad switchgear and signals, solar arrays and uninterruptible power supply. Large flooded cell batteries are used in stationary Power, telecommunications systems, utility systems, uninterruptible power supply. Nickel Iron batteries are used in railroad signals and mining operations. Wet nickel cadmium batteries are used in emergency power, telephone systems, solar arrays, railroad switching gear, marine and aviation applications. Steel case batteries are used in forklifts, industrial machinery and motive power. Uninterruptible Power Supply (UPS) batteries are used in Uninterruptible power supply, stationary power and computers. Hybrid & Electric Automotive batteries are used in hybrid and electric automobiles. Lead acid batteries are used in automobiles, motorcycles, boats and outdoor power equipment. VRLA batteries are used in automobiles, motorcycles, boats, wheelchairs, emergency lighting and uninterruptible power supply.
Battery Market report comprises of pricing analysis for different types of Battery. The price is expected to range from $0.14 to $5000 per unit.
Battery Market Growth Drivers: One of the main drivers in the global Battery Market is the growing demand for electric vehicles globally. Decreasing oil reserves and increasing concern toward environment globally are the main reasons for the increasing demand for electric vehicles globally. Another driver in the Battery Market is the increasing demand for smartphones among population in many regions across the globe. As smartphones come with a battery, this incredible demand for smartphones is also driving the global Battery Market.
Battery Market Challenges: One of the major challenges in the global Battery Market is the presence of better alternatives like hydrogen fuel cells, graphene supercapacitors, diesel generators and many others. Another. The supply chain system for recycling of batteries is not proper in many regions in the world. This will act as a challenge in the Battery Market due to the improper recycling of batteries like no proper collection of batteries and many people are throwing batteries on roads.
Battery Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Battery market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Battery market and their specific applications in different types of vehicles.
Battery Market Report: Industry Coverage
Types of Batteries: Primary or Non-Rechargeable (Alkaline & Carbon Zinc, Lithium, Mercury, Silver Oxide and Zinc Air), Secondary or Rechargeable (Lead Acid Gel, Lithium Ion (Li-ion), Nickel Cadmium (NiCd), Nickel Metal Hydride, Absolyte, Large Flooded Cell, Nickel Iron, Steel Case, Un-interruptible Power Supply (UPS), Hybrid Automotive, Lead Acid and Valve-Regulated Lead-Acid (VRLA))
Applications of Batteries: Watches, Calculators, Mobile Phones, Camcorders, Computers, Cars, Trucks, Buses, Locomotives, Satellites, Robots, Submarines, Household Equipment, Transmitters, Hearing Aids, Implants, Meteorological Equipment, Telephones, Watches & Clocks, Load Levelling, Spacecraft, Railway Signaling, Aircrafts, Oceanographic Equipment, Munitions & Missiles and Others
Battery market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- The Middle East and Africa: Israel, South Africa, Saudi Arabia
Battery Market Key Players Perspective:
In a joint venture by Consolidated Edison Solutions, Inc., a Con Edison Clean Energy Businesses, Inc. subsidiary, and Johnson Controls on October 1, 2018, Mark Noyes, president and CEO of Con Edison Clean Energy Businesses, Inc. said, “We are excited about this new relationship with Johnson Controls. Energy storage will play a growing role in in the coming years and this arrangement is a natural fit with our renewable energy and energy management offerings. We look forward to working with Johnson Controls to expand the market opportunities for this business.”
George Oliver, chairman and CEO of Johnson Controls said, “We are proud of the success we have built with our energy storage business over the past five years and with this joint venture we are creating even more opportunity to take advantage of growth in both the behind-the-meter and front-of-meter market”.
Some of the key players mentioned in this report are Johnson Controls, Contemporary Amperex Technology, eCobalt Solutions, A123 Systems, Exide Industries, Tesla, LG Chem, Toshiba, Panasonic, Samsung SDI, ABB Group, East Penn Manufacturing, LG Chem, Robert Bosch, The AES, SolarEdge, SunPower, Sunrun among others.
Battery Market Trends:
- A team of researchers at the Samsung Advanced Institute of Technology (SAIT) developed a “graphene ball,” a unique battery material that enables a 45% increase in capacity and five times faster charging speeds than standard lithium-ion batteries. This “graphene ball” based battery requires only 12 minutes to charge fully and it also can maintain a highly stable 600 C temperature, with stable battery temperatures which is particularly a key for electric vehicles. As there is an increasing global demand for electric vehicles in the past few years, this new battery material will serve as a new technology in electric vehicles for the upcoming years.
- Scientists are in search of manufacturing long lasting batteries since many years. Researchers from the Harvard John A. Paulson School of Engineering and Applied Sciences (SEAS) have developed a new flow battery that stores energy in organic molecules dissolved in neutral pH water. This new battery comes like a non-toxic, non-corrosive with an exceptionally long lifetime which can run for more than a decade with minimum upkeep.
- There were many incidents of battery explosions in the past few years. Researchers have been trying to manufacture batteries which can be resistant to fire and won’t explode. Mike Zimmerman, a professor at Tufts University and founder of Ionic Materials have developed a new completely explosion proof lithium metal battery with the double power of lithium-ion batteries. This ionic battery replaces the plastic film with a flammable liquid which serves as an electrolyte. Due to this film, the battery won’t catch fire if is pierced, cut or destroyed in any other physical manner, unlike the conventional Li-ion batteries.
- Toshiba Corporation, Japan is planning to set up a new Lithium-ion manufacturing plant at its business complex in Yokohama, Japan. It is investing $1.4 billion for setting up this new plant to boost the production of its SCiB lithium-ion batteries.
- Munoth Industries Ltd, Chennai, India is setting up India’s first lithium-ion batteries production plant in Tirupati, India. The company is investing $7.99 billion for the construction of this plant. With this new plant, the Indian smartphone industry will be able to build its own battery components instead of importing.
- Maruti Suzuki India Ltd is planning to replace the traditional lead-based batteries in its premium cars with long-lasting lithium-ion batteries. These batteries will be sourced from the company’s upcoming battery plant in Gujarat, India starting from the fiscal year 2021. Suzuki will become the first manufacturer to fit lithium-ion batteries in its conventional vehicles in India.