Secondary batteries are also known as storage batteries. Secondary batteries are rechargeable batteries that can be recharged by passing a current through it in the opposite direction of its discharge. These are mostly used in automotive, household and industrial applications.
The global secondary batteries market was valued at $136.3 billion in 2017. Asia Pacific was the largest geographic region accounting for $108.5 billion or 79.6% of the global market. China was the largest country accounting for $79.6 billion or 58.4% of the global secondary batteries market.
Secondary batteries are finding its presence in the automotive market with the introduction of electrical vehicles. These batteries are graphene-based lithium ion batteries that has higher capacity. Battery manufacturing companies are manufacturing these batteries for different types of electrical vehicles and are durable, light weight and extended life.
The companies covered are Amperex Technologies Ltd., BYD Co. Ltd., LG Chem Ltd., Samsung SDI Co. Ltd., and Johnson Controls.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The secondary batteries market is segmented into Lead Acid, Lithium-Ion (Li-Ion), Nickel-Cadmium (Ni-Cd), Nickel Metal Hydride, and Others - Secondary Batteries.
Lead Acid comprises of secondary rechargeable batteries like lead acid.
Lithium-Ion (Li-Ion) comprises of secondary rechargeable batteries like lithium-ion (Li-Ion).
Nickel-Cadmium (Ni-Cd) comprises of secondary rechargeable batteries like nickel-cadmium (Ni-Cd).
Nickel Metal Hydride comprises of secondary rechargeable batteries like nickel metal hydride.
Others - Secondary Batteries comprises of others - secondary batteries which are not lead acid, Li-Ion, Ni-Cd, or nickel metal hydride.