Rechargeable Battery Industry Emerging Trends, Global Demand, and Revenue Analysis
The factors that propel the growth of the market include increasing demand for portable devices and consumer devices such as digital cameras, music players, portable computing devices, camera phones, rising demand for bio-based and automobile vehicles, increasing consciousness regarding battery-enabled consumer devices, growing per capita income, and continuous development efforts and high-performance batteries.
(firmenpresse) - Global rechargeable battery market is anticipated to witness an exponential growth in the forecast period. A rechargeable battery implies a type of battery that could be recharged repeatedly by putting its terminals along DC, after the battery being drained out. Rechargeable batteries offer numerous procedures from its cell and a well long-term investment in terms of money spent on devices, which could be recharged.
The factors that propel the growth of the market include increasing demand for portable devices and consumer devices such as digital cameras, music players, portable computing devices, camera phones, rising demand for bio-based and automobile vehicles, increasing consciousness regarding battery-enabled consumer devices, growing per capita income, and continuous development efforts and high-performance batteries. On the other hand, there are factors that may hamper the growth of the market including high cost and heap alternates of rechargeable batteries.
Rechargeable battery market is anticipated to expand at a significant CAGR of 8.32% in the upcoming period as the scope, product types, and its applications are increasing across the globe. The declining Li-on battery prices is an emerging trend in the market. Due to the decrease in the demand for other batteries, the Li-ion battery market is observing fast-paced development. The main difference between Li-ion batteries and other battery technology such as fuel cell batteries is the pricing.
Market could be explored by type, capacity, application, and geography. Market could be explored by type as Lead-acid battery and Lithium-ion (LiOn) and Others. The that may be attributed to the growth of the market includes an increase in demand.
Based on capacity, market could span 150 - 1000 mAh, 1300 - 2700 mAh, 3000 - 4000 mAh, 4000 - 6000 mAh, 6000 - 10000 mAh and More than 10000 mAh. The key applications that could be explored in the rechargeable battery market include Laptops, Consumer Devices, Mobiles, Speakers, Music Players, Digital Camera, Power Banks (Portable charger) and Others. Automobile (Two wheelers and Four wheelers).
APAC accounted for the major share of the market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include rapid growth rate and hold moderately large market share, and growing usage and manufacturing of consumer devices such as digital camera, smartphones, speakers, notepads, laptops, etc. in China, and Asia-Pacific region. Asia-Pacific is followed by European and North American region.
Some of the key players that fuel the growth of the rechargeable battery market comprise Energizer, Duracell Inc., Godrej.com, SONY CORPORATION OF AMERICA, SPECTRUM BRANDS, INC., MikroElektronika d.o.o., Optimum Nano Energy Co., Ltd, GPB International Limited, BREN-TRONICS, INC., Camelion Batteries GmbH, Panasonic Corporation, SAMSUNG, Illinois Capacitor, and Fedco Batteries, etc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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