Battery Market To Grow By USD 296.6 Billion From 2024-2028, As Automotive Shift To Evs Boosts Demand With AI Impact On Market Trends - Technavio

• 1.1 Portable batteries
• 1.2 Automotive batteries
• 1.3 Industrial batteries

• 2.1 Lithium ion
• 2.2 Lead acid
• 2.3 Nickel metal hydride
• 2.4 Nickel cadmium
• 2.5 Others

• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Portable batteries-
The global battery market is poised for significant growth, driven by the automotive segment's increasing adoption of advanced batteries for electric vehicles (EVs) and e-bikes. EV batteries offer advantages over traditional lead-acid batteries, including higher energy density, better performance, longer cycle life, production automation, and improved security and lightweight design. This has led to higher acceptance from leading manufacturers like Tesla. The market also caters to portable devices, transportation, grid storage, and various industries such as passenger car production, construction, hospitals, schools, offices, and industrial plants. Notable battery technologies include flow batteries, sodium-sulfur batteries, nickel-ion batteries, and lithium-ion batteries. The lithium-ion segment dominates the market due to its use in consumer electronics, electric vehicles, plug-in electric vehicles, and energy storage applications. Other sectors include power tools, UPS devices, and the chemical sector. The market's growth is fueled by product innovation, efficiency, and the global electrification trend, aiming to reduce reliance on fossil fuels and contribute to the e-mobility industry.

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Research Analysis

The Battery Market encompasses a wide range of products and applications, including UPS devices, Lead-acid and Lithium-ion batteries, and various types of batteries manufactured by leading companies. These batteries find extensive use in sectors such as Electric Vehicles, Non-residential construction, Transportation, Grid storage, and more. Lead-acid Batteries, like SLI Batteries and Portable Batteries, continue to dominate certain markets due to their reliability and affordability. However, Lithium-ion Batteries, used in Plug-in electric vehicles and Consumer Electronics, are gaining popularity for their high energy density and long cycle life. Battery technologies such as Flow Batteries, Sodium-sulfur Batteries, and Nickel-ion Batteries, are also making strides in the market, particularly in industrial applications and grid storage. Hospitals, Schools, Offices, and Industrial plants all rely on these batteries for their power needs. In summary, the Battery Market is a dynamic and diverse industry, serving various sectors and applications, from Transportation to Grid storage, and from SLI Batteries to Lithium-ion Batteries for Electric Vehicles.

Market Research Overview

The Battery market is a significant sector, encompassing Lead-Acid, Lithium-ion, and other types of batteries. These technologies offer various benefits, such as high energy density, long cycle life, and fast charging capabilities. The sector consists of manufacturers, suppliers, and consumers. Consumers include industries like telecommunications, renewable energy, and transportation. The market is driven by factors such as increasing demand for renewable energy storage and the growing electric vehicle industry. The market is also influenced by regulatory policies and technological advancements. Companies like Chemicall, SCHOOLS, and Energys are key players in the sector. The market is expected to grow significantly in the coming years due to the increasing need for reliable and efficient energy storage solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
  • Portable Batteries
  • Automotive Batteries
  • Industrial Batteries
• Type
  • Lithium Ion
  • Lead Acid
  • Nickel Metal Hydride
  • Nickel Cadmium
  • Others
• Geography
  • APAC
  • Europe
  • North America
  • South America
  • Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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