Batteries Manufacturing Market Characteristics
The batteries market consists of sales of batteries by entities that produce primary and storage batteries. Examples of primary batteries include disposable flashlight batteries, dry cells, primary (e.g., AAA, AA, C, D, 9V), lithium batteries, primary, and watch batteries. Examples of storage batteries include lead acid storage batteries, lithium storage batteries, and rechargeable nickel-cadmium (NICAD) batteries.
Competitive Landscape of the Batteries Manufacturing Market
Major players in the global batteries manufacturing market include Panasonic Corporation, Johnson Controls Inc, GS Yuasa Corporation, East Penn Manufacturing Co Inc, EnerSys Ltd
Batteries Manufacturing Market Size
the batteries manufacturing market size is expected to reach $200 billion by 2022, significantly growing at a CAGR of around 7% during the forecast period. The growth in the batteries manufacturing market is due to increase in demand of secondary batteries and new innovations.
However, the market for batteries manufacturing is expected to face certain restraints from several factors such as rising competition and difficulty in extracting raw materials.
Batteries Manufacturing Market Segmentation
The global batteries manufacturing market is further segmented based on type and geography.
By Type - The Batteries Manufacturing market is segmented into Secondary Batteries, Primary Batteries among these segments, the secondary batteries market accounts for the largest share in the global batteries manufacturing market.
By Geography - The global batteries manufacturing is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global batteries manufacturing market.
Trends in the Batteries Manufacturing Market
With increasing global warming and consequent rise in government regulations, the demand for clean energy is increasing. Clean energy refers to energy generated from natural sources such as sunlight, wind and others. Renewable energy systems process energy from natural sources into usable forms and store in batteries for use at a later point of time. The Batteries used in renewable energy systems include lead acid batteries, lithium-ion batteries and others. Lithium-ion batteries are the most common type of batteries used in electric vehicles. For example, the electric car manufacturers Tesla and Nissan use lithium-ion batteries to power electric motors.
Potential Opportunities in the Batteries Manufacturing Market
With increase in demand of batteries used technologies the scope and potential for the global batteries manufacturing market is expected to significantly rise in the forecast period.