Lithium Primary Batteries Global Market Report 2023 – By Type (Lithium Thionyl Chloride Battery (Li Socl2), Lithium Manganese Dioxide Battery (Li Mno2), Lithium Polycarbon Monofluoride Battery (Li Cfx)), By Application (Aerospace And Defense, Medical, Industrial, Others Application), By Voltage (Less than 4.5V, 4.6V to 12V, 13V to 18V, 19V to 24V, 25V to 36V, 37V to 48V, Above 48V), By Operation (Rechargeable, Non rechargeable) – Market Size, Trends, And Global Forecast 2023-2032

Primary Batteries Market Characteristics

The primary batteries manufacturing market consists of the revenues generated from sales of primary batteries by entities (organizations, sole traders and partnerships) that manufacture primary batteries. Primary batteries are small single-use batteries that generate electric power from chemical reactions that occur between the terminals and the electrolyte in the battery. They include alkaline batteries, lithium batteries, zinc-carbon batteries, and dry cell batteries. Primary batteries are mainly used in low-drain portable electronic devices. The market for primary batteries is distinct from the market for secondary batteries. Primary batteries are the non-rechargeable and disposable batteries while secondary batteries are rechargeable batteries and are also called storage batteries.

A nickel metal hydride battery refers to an energy storage battery or rechargeable battery. These batteries are composed of electrochemical charge/discharge reactions that occur between a positive electrode and a negative electrode. They are used in widespread applications, especially in high-end portable electronic products. The main types of nickel metal hydride batteries are small-sized Ni-MH batteries for consumer electronics and large-sized Ni-MH batteries for HEV. Small-sized Ni-MH batteries are rechargeable batteries found in laptops, computers, cameras, and mobile phones. The nickel metal hydride batteries are used in automotive, cordless phones, dust collectors, personal care, lighting tools, and electric tool and are distributed through OEM and aftermarket sales channels. The global nickel metal hydride batteries market is segmented - 1) By Type: Small-Sized Ni-MH Battery for Consumer Electronics, Large-Sized Ni-MH Battery for HEV 2) By Application: Automotive, Cordless Phone, Dust Collector, Personal Care, Lighting Tools, Electric Tool 3) By Sales Channel: OEM, Aftermarket The global nickel metal hydride batteries market size will grow from $3.13 billion in 2022 to $3.54 billion in 2023 at a compound annual growth rate (CAGR) of 13.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global nickel metal hydride batteries is expected to grow to $5.59 billion in 2027 at a CAGR of 12.1%. Nickel metal hydride batteries are increasingly being used in hybrid vehicles. The wide temperature range between -30 °C to + 75 °C and rapid charging capacity made these batteries ideal for the automotive sector. NiMH batteries can handle the high-power levels which are essential for electric vehicles. According to Bloomberg New Energy Finance (BNEF) report, electric vehicle sales are expected to reach 540 million by 2040, which is around 32% of the world’s passenger vehicles. The increasing demand for electric vehicles will positively impact the NiMH battery market. Major players in the nickel metal hydride batteries market are Duracell, Energizer Holdings, Panasonic, Primearth EV Energy, Spectrum Brands, GP Batteries International, Panasonic, Spectrum Brands (Rayovac), Duracell, and Aeg Powertools. Regulations introduced by various governments for rechargeable battery manufacturing hindered the growth of the market. The battery manufacturing process generates wastewater and releases pollutants such as cadmium, cobalt, copper, cyanide, iron, lead, manganese, mercury, nickel, and zinc The manufacturers are usually advised unless mandated to reduce the number of hazardous substances released into the environment. For example, the USA Environmental Protection Agency (EPA) formulated the Battery Manufacturing Effluent Guidelines and Standards to regulate such pollutants. Recent developments in NiMH battery manufacturing have improved the lifespan of nickel-metal hydride batteries. The electro-positivity of the A-elements makes them easy to corrode in the alkaline electrolyte used in NiMH batteries. A thin protective layer is used on alloy particles to improve the reaction kinetics and corrosion stability of conventional NiMH batteries. For instance, Researchers at Stockholm University, a Swedish public university, have developed metal hydride surface structures for NiMH batteries to extend cycle life. In January 2020, German battery manufacturer VARTA AG acquired US-based Energizer Holdings, Inc.’s subsidiary, VARTA Consumer Batteries, for $401 million. The acquisition will likely strengthen VARTA AG’s battery business and expand its product portfolio. VARTA Consumer Batteries manufactures and markets dry and primary batteries globally. The company was founded in 2002 and is headquartered in Ellwangen, Germany. Asia-Pacific was the largest region in the nickel metal hydride batteries market in 2022. North America is the second-largest region in the global nickel metal hydride batteries market share. The regions covered in the global nickel metal hydride batteries market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the nickel metal hydride batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The nickel metal hydride batteries market consists of sales of small-sized Ni-MH batteries for consumer electronics and large-sized Ni-MH batteries for HEV. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The nickel metal hydride batteries market research report is one of a series of new reports from The Business Research Company that provides nickel metal hydride batteries market statistics, including nickel metal hydride batteries industry global market size, regional shares, competitors with a nickel metal hydride batteries market share, detailed nickel metal hydride batteries market segments, market trends and opportunities, and any further data you may need to thrive in the nickel metal hydride batteries industry. This nickel metal hydride batteries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Alkaline batteries are composed of zinc and manganese dioxide as electrodes. The positive electrode (cathode) in an alkaline battery is based on manganese (IV) oxide and the negative electrode (anode) is based on zinc Power in the battery is produced through two chemical reactions at the positive and negative electrodes. Manganese (IV) oxide is converted into manganese (III) oxide and hydroxyl ions at the positive electrode, while zinc reacts with the hydroxyl ions to release the electrons that power the circuit at the negative electrode. The main product types of alkaline batteries market are specialty alkaline and non-specialty alkaline. The flashlight is a small battery-operated portable electric light. The various sizes are AA, AAA, 9 volts, and others that are used for different applications such as flashlights, entertainment, toy and novelty, remote control, and others. The global alkaline batteries market is segmented – 1) By Product Type: Speciality Alkaline, Non-Speciality Alkaline 2) By Size: AA, AAA, 9 Volt, Other Sizes 3) By Application: Flashlights, Entertainment, Toy And Novelty, Remote Control, Other Applications The global alkaline batteries market size is expected to grow from $8.54 billion in 2022 to $8.81 billion in 2023 at a compound annual growth rate (CAGR) of 3.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services affecting many markets across the globe. The market size of the global alkaline batteries is expected to reach $9.86 billion in 2027 at a CAGR of 2.9%. During the forecast period, the increase in demand for battery-operated toys is expected to drive the demand for alkaline batteries. The use of primary batteries such as alkaline batteries in electronic toys is expected to drive the market. Battery-operated toys such as toy cars, dolls, robots, and drones are becoming popular. For example, in November 2022, according to OnBuy’s report, a UK-based online marketplace, sales in their toys and games division have increased dramatically during the past three years, by more than 1772 percent. The growing popularity of battery-operated toys will continue to increase the demand for primary batteries. The increase in demand for battery-operated toys is expected to have a positive impact on the growth of the alkaline batteries market. Major players in the alkaline batteries market are Duracell Inc., Energizer Holdings Inc., Panasonic Corp., Spectrum Brands Holdings Inc., Toshiba International Corp., Camelion Batterien GmbH, Sony, FDK Corp., Samsung Electronics, and Nanfu. The alkaline batteries market is restricted due to the increasing popularity of alternative technologies such as rechargeable batteries. Rechargeable batteries have gained immense popularity as they are a sustainable and ecological replacement for non-rechargeable batteries when compared to batteries made of alkaline batteries. Rechargeable batteries also provide long-term cost benefits and enhanced durability. Since consumers have been adopting portable devices, such as mobile phones, laptops, cordless power tools, and MP3 players, the need for rechargeable batteries has grown substantially over the years. Change in packaging techniques for alkaline batteries is the latest trend in the global alkaline batteries market. Alkaline batteries battery manufacturers are changing their battery packaging techniques to offer more convenience to their customers. In the past, alkaline batteries were made with complex sealing systems and thick steel outer cases, and end caps. A unique method was developed that allowed manufacturers to use thinner packaging materials and more efficient seals. More room was created for active materials within a given standard cell size, and that increased capacity. For instance, Panasonic Corp. has launched their alkaline batteries in packs of 10, believing that the new package size was especially practical for distributors since it allows more exact calculations. In May 2021, ENTEK, a US-based company operating in lead-acid separators, lithium-ion separators, extruders, and engineering services acquired NSG Group r an undisclosed amount. Through this acquisition, ENTEK aims to enhance its capabilities in separator manufacturing and gain a competitive advantage in the battery market. NSG Group, a Germany-based company operating in battery separators for lead-acid batteries. Asia Pacific was the largest region in the alkaline batteries market in 2022. The regions covered in the global alkaline batteries market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the alkaline batteries market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The alkaline batteries market consists of sales of specialty alkaline and non-specialty alkaline batteries. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The alkaline batteries market research report is one of a series of new reports from The Business Research Company that provides alkaline batteries market statistics, including alkaline batteries industry global market size, regional shares, competitors with an alkaline batteries market share, detailed alkaline batteries market segments, market trends and opportunities, and any further data you may need to thrive in the alkaline batteries industry. This alkaline batteries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Electric vehicle batteries are defined as batteries that are used to power electronic vehicles and are rechargeable in nature. These batteries support the clean energy initiative as they don’t emit any harmful gases which cause damage to the environment. The main types of battery used in electric vehicle are lithium-ion, lead-acid, nickel-metal hydride, sodium-ion, and others. The lithium-ion are used in electric vehicle for safer and more stable movement than liquid li-ion batteries. The electric vehicle batteries are used two types of vehicles such as passenger and commercial vehicles and available in two types of propulsion such as battery electric vehicle and plug-in hybrid electric vehicle. The global electric vehicle batteries market is segmented – 1) By Battery Type: Lithium-Ion, Lead-Acid, Nickel-Metal Hydride, Sodium-Ion, Other Battery Types 2) By Vehicle Type: Passenger Vehicles, Commercial Vehicles 3) By Propulsion: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV) The global electric vehicle batteries market will grow from $25.43 billion in 2022 to $27.24 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electric vehicle batteries market is expected to grow to $35.54 billion in 2027 at a compound annual growth rate (CAGR) of 6.9%. Advances in electric vehicle (EV) batteries and their associated technologies are attracting the interests of individuals to purchase EVs, contributing to the growth of the EV batteries. Recent advancements such as lithium-ion batteries, fast charging, and better mileage have helped the electric cars become more passenger-friendly. According to the United States Department of Energy, the range of average electric car have increased from 73 miles in 2011 to 400 miles in 2021. Moreover, the technological developments are contributing to reduced prices of the electronic batteries. According to the Bloomberg report, battery prices that were above USD 1,100 in 2010 have fallen by 87% to $156 per kilowatt-hour in 2019 and is likely to decline to $100 per kilowatt-hour by the end of 2023. Therefore, the advances in electronic battery and its associated technologies increase the vehicles mileage and draws more customers driving the electric vehicle batteries market. Major players in the electric vehicle batteries market are Panasonic Corporation, Mitsubishi Motors Corporation, Beijing Pride New Energy Battery Technology Co. Ltd., Automotive Energy Supply Corporation, BYD Company Ltd., Daimler AG, Robert Bosch GmbH, SAMSUNG SDI Co., Tianneng Power International Co. Ltd., and Johnson Controls. The extraction of raw materials like lithium cobalt used in the electric vehicle battery has a harmful effect on the environment and governments impose restriction on mining the raw materials, hindering the growth of the market. The extraction process of one ton of lithium requires 50,000 gallons of water. Lithium mining has resulted in consumption of 65% water of the Salar de Atacama region, Chile, which has led to water shortages in Chile, South America along with severe toxic spills. As the demand upsurges, the mining activity also rises with increasing damage to the environment and will force the governments to enforce stringent regulation to curb the negative effects which would increase the production cost. Therefore, the harmful effect of electric vehicle batteries on the environment is expected to be a hindrance to the electric vehicle batteries market over the forecast period. The charging of Electric vehicle batteries using Vehicle to grid technology is expected to gain traction in EV batteries Market. Vehicle to grid technology is a Bi-directional charging system technology in which plug-in electric vehicle like battery electric vehicle (BEV), plug-in hybrids (PHEV) or hydrogen fuel cell electric vehicle (FCEV) batteries’ can communicate with the power grid for either returning electricity to the grid, to homes during the peak times or increase their charging rate to discharge and charge the battery accordingly. For instance, in January 2021, FCA along with Engie EPS and Terna has launched the first phase of a vehicle-to-grid (V2G) pilot project in Turin, Italy, to test potential connections of the company’s vehicles to the grid. Thus, Vehicle to grid technology is anticipated to be a major trend in the electric battery market. In August 2022, Nikola Corporation, a US-based manufacturer of heavy-duty commercial battery-electric vehicle, fuel-cell electric vehicle, and energy solutions, acquired Romeo Power for $144 million. With this acquisition, Nikola expects the considerable operational improvements and cost savings in battery pack production. The integration of Romeo's battery and battery management system (BMS) engineering expertise is also intended to help Nikola customers benefit from faster product development and greater performance. Romeo Power is a US-based battery manufacturer for EV vehicles. Asia-Pacific was the largest region in the electric vehicle batteries market in 2022. Western Europe was the second-largest region in the global electric vehicle batteries market share. The regions covered in the global electric vehicle batteries market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the electric vehicle batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The electric vehicle batteries market consists of sales of lithium-ion batteries, lead-acid batteries, nickel-metal hydride batteries, sodium-ion batteries, and other electric vehicle (EV) batteries. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electric vehicle batteries market research report is one of a series of new reports from The Business Research Company that provides electric vehicle batteries market statistics, including electric vehicle batteries industry global market size, regional shares, competitors with a electric vehicle batteries market share, detailed electric vehicle batteries market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle batteries industry. These electric vehicle batteries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Secondary batteries are electrical batteries that can be charged, discharged, and recharged multiple times. Secondary batteries are rechargeable batteries and are also called storage batteries. Secondary batteries are highly cost-efficient in the long term and are environmentally friendly. These are used in portable devices, electronics, and motor vehicles. The main product types of secondary batteries are lead-acid, lithium-ion (Li-ion), and nickel-metal hydride. The nickel-metal hydride (NiMH) battery is a type of rechargeable battery that is widely used in laptop computers, as well as mobile phones, camcorders, and other electronic devices. The negative electrode of a NiMH battery is made of a hydrogen-absorbing alloy and, in some cases, a variety of intermetallic compounds. Nickel-oxide hydroxide is used to make the positive electrode. The batteries are used in electronics, motor vehicles, portable devices, and other applications by automotive, household, and industrial end-users. The global secondary batteries market is segmented - 1) By Product Type: Lead Acid, Lithium-Ion (Li-Ion), Nickel Metal Hydride, Other Product Type 2) By Application: Electronics, Motor Vehicles, Portable Devices, Other Applications 3) By End User: Automotive, Household, Industrial The global secondary batteries market size will grow from $79.56 billion in 2022 to $89.32 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global secondary batteries is expected to grow to $137.69 billion in 2027 at a CAGR of 11.4%. Increasing demand for electric vehicles will positively impact the secondary batteries market. Secondary batteries are increasingly being used in hybrid vehicles. The wide temperature ranges between -30°C to +75°C and the rapid charging capacity of Nickel Metal Hybride (NiMH) batteries are ideal for the automotive sector. NiMH batteries can handle the high-power levels which are essential for electric vehicles. According to Bloomberg New Energy Finance (BNEF) report, electric vehicle sales are expected to reach 540 million by 2040, which is around 32% of the world’s passenger vehicles. Therefore, the increasing demand for electric vehicles will drive the growth of the secondary batteries market. Major players in the secondary batteries market are BYD Company Ltd., Samsung SDI Co. Ltd., LG Chem Co. Ltd., Johnson Controls, Amperex Technologies Ltd., Energizer Holdings Inc., Panasonic Corporation, Aquion Energy, Battery Technology Inc., and Beckett Energy Systems. Stringent government regulations for secondary battery manufacturing hindering the growth of the secondary battery market. The battery manufacturing process generates wastewater and releases pollutants such as cadmium, cobalt, copper, cyanide, iron, lead, manganese, mercury, nickel, and zinc The manufacturers are usually advised unless mandated to reduce the number of hazardous substances released into the environment. For instance, the USA Environmental Protection Agency (EPA) formulated the battery manufacturing effluent guidelines and standards to regulate such pollutants. Therefore, stringent government regulations hinder the secondary batteries market’s growth. Recent developments in NiMH battery manufacturing have improved the lifespan of nickel-metal hydride batteries. The electro positivity of the A-elements makes them easy to corrode in the alkaline electrolyte used in NiMH batteries. A thin protective layer is used on alloy particles to improve reaction kinetics and corrosion stability of conventional NiMH batteries. For instance, researchers at Stockholm University, a Swedish public university, have developed metal hydride surface structures for NiMH batteries to extend cycle life. In January 2020, German battery manufacturer, VARTA AG acquired the US-based Energizer Holdings, Inc.’s subsidiary, VARTA Consumer Batteries for $401 million. The acquisition will likely strengthen VARTA AG’s battery business and expand its product portfolio. VARTA Consumer Batteries manufactures and markets dry and primary batteries globally. The company was founded in 2002 and is headquartered in Ellwangen, Germany. Asia-Pacific was the largest region in the secondary batteries market in 2022. North America was the second-largest region in the global secondary batteries market share. The regions covered in the global secondary batteries market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the secondary batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The secondary batteries market consists of sales of lithium nickel magnesium cobalt (LI-NMC), lithium ferro phosphate (LFP), lithium cobalt oxide (LCO), lithium titanate oxide (LTO), lithium manganese oxide (LMO), D-battery, C battery, A battery, AA battery, AAA battery, small-sized Ni-MH battery for consumer electronics and large-sized Ni-MH battery for HEV, motive lead-acid batteries, stationary lead-acid batteries, carbon batteries, flow batteries, glass air batteries, and other secondary batteries. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The secondary batteries market research report is one of a series of new reports from The Business Research Company that provides secondary batteries market statistics, including secondary batteries industry global market size, regional shares, competitors with a secondary batteries market share, detailed secondary batteries market segments, market trends and opportunities, and any further data you may need to thrive in the secondary batteries industry. This secondary batteries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Electrical equipment produces products that generate, distribute and use electrical power. Electrical equipment's primary function is to accomplish work by converting electrical energy and controlling electrical energy, including protecting systems, property, and people. The main types of electrical equipment are electric lighting equipment, household appliances, power generation, transmission, and control equipment, batteries and wires, and cables. Home appliances are electrical machines that aid in household functions such as cooking, cleaning, and food storage. The equipment is operated through online and offline modes. The various sales channels include OEM and aftermarket that are used by B2B and B2C end users. The global electrical equipment market is segmented – 1) By Type: Electric Lighting Equipment, Household Appliances, Power Generation, Transmission And Control Equipment, Batteries, Wires And Cables 2) By End-Use: B2B, B2C 3) By Sales Channel: OEM, Aftermarket 4) By Mode: Online, Offline Subsegments Covered: General Lighting, Automotive Lighting, Back Lighting, Small Electrical Appliance, Household Cooking Appliance, Household Refrigerator And Home Freezer, Household Laundry Equipment, Other Major Household Appliance, Transformer, Electric Motor And Generator, Switchgear And Switchboard Apparatus, Relay And Industrial Controls, Secondary Batteries, Primary Batteries, Other Cables, Coaxial Cables, Fiber Optical Cable The global electrical equipment market size grew from $1503.21 billion in 2022 to $1630.86 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of electrical equipment is expected to grow to $2190.31 billion in 2027 at a CAGR of 7.7%. The rapid pace of innovations in electronics technology is stimulating consistent demand for newer and faster electronic equipment. Technological development is a key to attracting both consumers and business users for either replacing or upgrading the older products with advanced versions. Digital technologies such as the internet of things (IoT) and the latest communication technologies such as 5G are expected to aid in the development of innovative electronic products. This is expected to increase the demand for electronic products which will ultimately drive the growth of the electronic equipment manufacturing market during the forecast period. Major companies in the electrical equipment market include Samsung Electronics Co. Ltd., Haier Smart Home Co. Ltd., Siemens AG, LG Electronics, Sumitomo Electric Industries Ltd., Panasonic Corporation, Schneider Electric SE, Qingdao Haier Co. Ltd., Daikin Industries Ltd., and Whirlpool Corp. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the electrical equipment manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak hurt businesses throughout 2020 and into 2021. However, it is expected that the electrical equipment industry will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy. The increasing use of portable electronic devices such as smartphones and tablets has led to the development of USB receptacles. USB receptacles offer convenient access to charge any kind of electronic device. The use of USB receptacles also eliminates the need to carry charging adapters. For example, EATON manufactures USB receptacles that have tamper-resistant shutters and LED indicator lights and can be used to charge electronic devices such as tablets, mobile phones, cameras, and MP3 players. For instance, some of the major companies manufacturing USB receptacles include Eaton, GE, and Philips. Asia-Pacific was the largest region in the electrical equipment market in 2022. Western Europe was the second largest region in the electrical equipment market share. Africa was the smallest region in the global electrical equipment market analysis report. The regions covered in the electrical equipment industry overview report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the global electrical equipment market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The electrical equipment and component market consists of sales of power converters (i.e., AC to DC and DC to AC), power supplies, surge suppressors, and other general electrical equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The electrical equipment market research report is one of a series of new reports from The Business Research Company that provides electrical equipment market statistics, including electrical equipment industry global market size, regional shares, competitors with an electrical equipment market share, detailed electrical equipment market segments, market trends and opportunities, and any further data you may need to thrive in the electrical equipment industry. This electrical equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

A battery is defined as an electrochemical device that consists of one or more electrochemical cells which can be charged with an electric current and discharged whenever required. They are made up of multiple electrochemical cells that are connected to external inputs and outputs. The main types of batteries are secondary batteries and primary batteries. A secondary battery is a batch system in which the active materials are the electrodes. The electrode is consumed by reaction during discharge and regenerates during charge. The reaction continues until the active material is depleted. The equipment is operated through online and offline modes. The various sales channels include OEM and aftermarket that are used for automotive batteries, industrial batteries, portable batteries, power tools batteries, SLI batteries, and other applications. The global batteries market is segmented - 1) By Type: Secondary Batteries, Primary Batteries 2) By Application: Automotive Batteries, Industrial Batteries, Portable Batteries, Power Tools Batteries, SLI Batteries, Other Applications 3) By Sales Channel: OEM, Aftermarket 4) By Mode: Online, Offline Subsegments Covered: Lead Acid, Lithium-Ion (Li-Ion), Nickel-Cadmium (Ni-Cd), Nickel Metal Hydride, Other Secondary Batteries, Alkaline Primary Batteries, Lithium Primary Batteries, Other Primary Batteries The global batteries market size grew from $93.71 billion in 2022 to $103.87 billion in 2023 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The batteries industry is expected to grow to $153.86 billion in 2027 at a CAGR of 10.3%. Flow batteries are gaining prominence due to low energy density than normal lithium-ion batteries. Flow batteries are rechargeable batteries where chemical energy is provided by the two chemical components dissolved in liquids that are contained within a system. It doubles the maximum voltage and yields a high storage capacity of renewable power. They have the advantage of supplying power to a large network of the electric grid by storing a huge amount of energy than traditional batteries. For instance, some of the major companies manufacturing flow batteries include Sumitomo Electric Industries, UniEnergy Technologies, Dalian Rongke Power, and Gildemeister. Major companies in the batteries market include Samsung SDI, LG Chem Ltd., BYD Electronic (International) Co Ltd., TDK Corp, Panasonic Corporation, Chaowei Power Holdings Ltd., GS Yuasa, Brookfield Asset Management, SK Holdings and Berkshire Hathaway Inc. Asia-Pacific was the largest region in the global batteries market in 2022. Western Europe was the second largest region in the batteries industry. The regions covered in the batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the batteries market analysis are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The batteries market consists of sales of lead acid batteries, lithium-ion (Li-Ion) batteries, nickel-cadmium (Ni-cd), nickel metal hydride batteries, alkaline primary batteries, lithium primary batteries, and other batteries. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The batteries market research report is one of a series of new reports from The Business Research Company that provides batteries market statistics, including batteries market size, regional shares, competitors with a batteries market share, detailed market segments, batteries market trends, and opportunities, and any further data you may need to thrive in the batteries industry. This batteries market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.