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. And 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.
Companies Covered: Amperex Technologies Ltd., BYD Co. Ltd., LG Chem Ltd., Samsung SDI Co. Ltd., Johnson Controls
Market Segments Included: Lead Acid; Lithium-Ion (Li-Ion); Nickel-Cadmium (Ni-Cd); Nickel Metal Hydride; Others - Secondary Batteries
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