Battery Market Overview:-
The rising demand of hybrid, semi-hybrid and fully electric vehicles will drive the global battery market. Also the adoption rate of these batteries in passenger vehicles, is increasing, which will drive this market. Rising consumption of mobiles and laptop, technological innovations, emerging economies and growing disposable income & government initiatives to replace fuel vehicle over battery vehicles, are some of the major factors, which are driving the global market.
Global Battery Market Drivers and Restraints:-
In automotive industry, the demand for battery is increasing at a rapid pace owing to the government support environment-friendly modes of transport. Automotive battery manufacturers across the world are getting fair subsidies to enforce the production capacity. Moreover, the lithium-ion battery is one of the latest discoveries which offers sufficient energy and supports large vehicles so that they can run smoothly. The increasing demand for lithium-ion battery will boost the battery market growth in the future. Also, increasing need for technological development, security of energy supply, and development of new battery application along with decreasing price of raw materials for manufacturing innovative products will boost the industry growth. There has been a growing need for self-consumption of PV electricity for household storage systems. This is one of the major reasons fuelling the market growth.
Meanwhile, the cost involved and safety issues associated with battery usage might act as a hindrance to the growth of the market. Alternatives such as diesel generators and fuel cells along with uncertain regulations might inhibit the market growth in the future.
The increasing demand for fully electric, semi-hybrid and hybrid vehicles will drive the global market for battery. With the rising consumption of technological innovations, laptops, and mobiles, growing disposable income, emerging economies, and government initiative to replace fuel vehicles over battery vehicles are some of the prominent factors fuelling the market growth.
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Major Points of Table Of Contents:-
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Battery Market, By Battery Type
5 Global Battery Market, By Application
6 Regional Market Analysis
6.2 North America
6.3.5 Rest Of Europe
6.4.4 Rest Of Asia-Pacific
6.5 Rest Of The World
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In January 2018, Contemporary Amperex Technology Co Ltd (CATL) has announced for USD 2 billion IPO in Shenzhen, to construct two battery plants which will include a giant 24 GWh facility which will help to massively boost the output.
On 31st August 2016, Douglas Battery introduced a new line of LegaC2™ high-frequency modular chargers. These new line chargers featured industry’s most efficient, most compact, and most versatile designs, available as wall-mounted or a free-standing design.
Market Research Future Analysis:
There are many elements that hold the growth of global battery market. Contribution to the global industrial scenario is estimated to increase significantly in the forecast period. Asia-Pacific is dominating the battery market due to factors such as growing demand from automobile and industrial sectors. Moreover, steady growth in domestic production and exports of automobiles coupled with expanding vehicle fleet is projected to drive demand for batteries. Additionally, rising penetration of two-wheelers in semi urban and rural India is projected to surge replacement demand for two-wheeler batteries during the forecast period.
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