According to the report, global revenue for Battery Technology market was valued at $ 52,212 million in 2017, and is expected to generate revenue of $ 95,507 million by end of 2025, growing at a CAGR of slightly above 7.84 % between 2017 and 2025.
Global Battery Technology Market: Market Driver and Restraint
Growing sales of vehicles and favourable government initiatives in developing economies such as India, China, Vietnam, and Mexico are likely to provide a fillip to the automotive battery market over the forecast period.
Global Battery Technology Market: Forecast by Applications
This segment includes Passenger Vehicles, Commercial Vehicles, Leisure & Recreation Vehicles, Industrial Vehicles and Others. The Passenger Vehicles segment was the leading contributing end user segment and will continue to lead the market until the end of 2025.
Global Battery Technology Market: Forecast by Form
Batteries are classified by chemistry, and the most common are lead, lithium and nickel-based. Lead acid stands its ground as being a robust and economical power source for bulk use and hence is predominant technology for manufacturing storage batteries. Li-ion is the battery of choice for Electric Vehicles. Lead acid batteries are the most commonly used type. Large-scale availability of batteries in various sizes and specifications along with high current level is expected to drive the market over the forecast period. Lead acid batteries are relatively cheaper as compared to other batteries and can be manufactured with relatively lower technology equipment, which in turn is projected to keep their demand high through 2025. On the other hand, the lithium-ion batteries segment is expected to post the highest CAGR during the forecast period.
Global Battery Technology Market: Forecast by Region
In this study, the market for the Battery Technology consumption divided into five geographic regions. This segment includes North America, Europe, Asia-Pacific, Latin America and Rest of World. Among all regions, Asia-Pacific stood as the largest market and was valued at USD 25,213 Million in 2017 and is anticipated to grow at a CAGR of 8.82% from 2017 to 2025.
Global Battery Technology Market: Key Players
Johnson Controls, Chaowei Power, GS Yuasa, Exide Technologies, CATL, East Penn Manufacturing, BYD, Panasonic, PEVE, EnerSys, OptimumNano, Camel, Exide Industries, LG Chem, GuoXuan, FIAMM, SAMSUNG SDI, Fengfan, Amara Raja Batteries, AESC, Lishen, Hitachi, Banner Batteries, are the key vendors included in this report.
Of the major players of Battery Technology, Johnson Controls maintained its first place in the ranking in 2017. Johnson Controls accounted for 14.05 % of the Global Battery Technology revenue market share in 2017.
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