The latest by IMARC Group, titled “Rechargeable Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global rechargeable battery market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global rechargeable battery market size reached US$ 109.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 165.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.93% during 2023-2028.
A rechargeable battery is an energy-storing device that can be charged again by applying direct current (DC) to its terminals. It consists of an electrolyte, anode, and cathode, which produce a current through an electrochemical reaction. It is widely available in various shapes and sizes and is durable, cost-effective, environmentally friendly, and requires minimal energy to charge. Compared to regular batteries, the rechargeable variant can reverse the chemical reaction by forcing a current in the opposite direction. As a result, it is widely used in consumer electronics, such as mobile phones, laptops, cordless power tools, MP3 players, and automobiles, and industrial applications. Some of the commonly used rechargeable batteries include lead-acid, nickel-metal-hydride (NiMH), nickel-cadmium (NiCad), and lithium-ion (Li-ion).
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Global Rechargeable Battery Industry Trends:
The increasing demand for consumer electronics among the masses is driving the global market. Moreover, the growing adoption of electric vehicles (EVs) due to an enhanced focus on sustainable development is further fuelling the demand for rechargeable batteries across the globe. Furthermore, numerous technological advancements, including the development of flow batteries that provide enhanced efficacy and durability, are providing a thrust to the market. In line with this, various major companies are heavily investing in improving the performance of rechargeable batteries, which is creating a positive market outlook. Other factors, including rapid industrialization and urbanization, increasing demand for continuous energy, and extensive research and development (R&D) activities conducted by leading players, are also influencing the market.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- East Penn Manufacturing Co.
- Exide Technologies
- Johnson Controls
- LG Chem Ltd.
- Saft Batteries
- Samsung SDI
- Panasonic Corporation
- Apple Inc.
- Enfucell Oy
- Ultralife Corporation
- Blue Spark Technology
- NEC Energy Solutions
Key Market Segmentation:
Breakup by Battery Type:
- Lead-Acid Batteries
- Li-ion Batteries
- NiMH Batteries
- NiCd Batteries
Breakup by Capacity:
- 150 – 1000 mAh
- 1300 – 2700 mAh
- 3000 – 4000 mAh
- 4000 – 6000 mAh
- 6000 – 10000 mAh
- More than 10000 mAh
Breakup by Application:
- Consumer Electronics
- Industrial Applications
- Automobile Applications
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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