The report "Battery Technology Market by Lithium-ion Type (Lithium Cobalt Oxide, Li-Iron Phosphate), Lead-Acid Type (Flooded, Valve Regulated), Nickel Metal Hydride, Flow, Metal-Air, Nickel Cadmium Battery & Solid State Battery), Vertical, Region - Global Forecast to 2027" The global battery technology market size is estimated to be USD 95.7 billion in 2022 and is projected to reach USD 136.6 billion by 2027, at a CAGR of 7.4%. The increasing demand for battery-operated electric vehicles and rising adoption of various batteries in renewable energy industry are responsible for the growth of battery technology market. Additionally, the installation of batteries is increasing rapidly in utility sector, which is also responsible for the growth of the market.
Browse 163 market data Tables and 62 Figures spread through 254 Pages and in-depth TOC on "Battery Technology Market by Lithium-ion Type (Lithium Cobalt Oxide, Li-Iron Phosphate), Lead-Acid Type (Flooded, Valve Regulated), Nickel Metal Hydride, Flow, Metal-Air, Nickel-Cadmium & Solid State Battery), Vertical, Region - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/battery-technology-market-253343109.html
Lithium-ion battery is expected to hold the largest growth rate during the forecast period.
Global demand for lithium-ion batteries is growing, propelled by the increase in demand for electric vehicles, strict government mandates on fuel economy, rising demand for smart devices and other consumer electronics, and enhancement of lithium-ion batteries. Reduction in the price of lithium-ion batteries is also encouraging automobile manufacturers to invest more in electric vehicles. Besides, lithium-ion batteries also find applications in many portable devices and industrial equipment. They can be easily customized according to the requirements, and the use of new anode material has made these batteries more energy efficient. Manufacturers are conducting research to make lithium-ion batteries compatible with advanced products.
Automotive is expected to hold the largest CAGR by 2027.
There is a rise in the demand for electric vehicles owing to environmental concerns and awareness about clean and sustainable fuel. Government initiatives and environmental norms and emission regulations support the adoption of electric vehicles around the world. This has resulted in increased demand for lithium-ion and nickel metal-air battery, which provide high thermal stability, high energy, and power density and are safe to be used in electric vehicles. Increasing adoption and awareness of electric vehicles thus supports the growth of the battery technology market.
The battery technology market in Europe is the second-dominating region in 2021.
Europe is the second leading regions in the battery technology market. The region is home to some of the largest battery manufacturers, such as Saft (France) and FIAMM (Italy). Batteries have major applications as clean, sustainable, and compact power sources in the automotive and consumer electronics sectors. Automotive is an advanced sector in the region, with the leanest production processes and optimized water and energy use. European environmental and carbon emission policies promote renewable energy and increase the need for energy storage. Extensive investments in R&D for battery production and an increase in the use of renewable energy, which requires batteries for storing energy, are the key factors driving the growth of the European battery technology market.
Major companies operating in this battery technology market includes LG Chem (South Korea), Hitachi Ltd. (Japan), SAMSUNG SDI CO. LTD. (South Korea), GS Yuasa International Ltd. (Japan), Enersys (US), Panasonic Holdings Corporation (Japan), and Contemporary Amperex Technology Co., Ltd. (China).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441