Advanced Battery Market Revenue Will Reach US$ 168.13 Billion By 2030

The advanced battery market size is projected to reach a revenue of US$ 168.13 billion by 2030 from US$ 74.13 billion in 2020 and is expected to register a CAGR of 8.53% from 2021 to 2030, According to Precedence Research. The research report contains 150+ pages with detailed analysis.

The report provides the overall revenue of the global advanced battery market from 2017 to 2030, considering 2020 as the base year and 2030 as the forecast year. This research report evaluates the advanced battery market on a global and regional level.

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A battery comprises of one or multiple cells which eases the translation of chemical energy to electricity. Batteries are employed to supply primary power and also work as back-up power supply in industrial, transport, and commercial applications. As the global transportation sector is growing, batteries market is also expected to grow proportionally. Increasing number of electrical devices and circuits in the transportation sector is one of the main influences boosting the growth of the market.

Advanced battery technology such as A lithium-ion (Li-ion) battery makes use of lithium ions as a main constituent of its electrochemistry. Lithium atoms in the anode, throughout a discharge cycle, are ionized and detached from their electrons. Silver-oxide batteries are employed in small electronic devices such as cameras, watches, wearables among others. Also, zinc-carbon batteries find application in consumer electronics on account of its low costs and better conductivity from carbon-improved technology. Current, lead-acid batteries are utilized for powering electric vehicles, and consumer electronic devices for storage purpose. Advanced battery technologies like sodium sulfur batteries, lead-acid batteries, advanced flow batteries, lithium ion, sodium metal halide and lithium polymer batteries can be some of the crucial segments based on this technology.

Market Scope:

The advanced battery market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenarios and forecasts (revenue/volume) and categorizes the market by players, type, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rates market dynamics such as drivers, restraints and opportunities, and distributors and sales channels.

This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.

Growth Factors

Advanced batteries market is predicted to observe vigorous growth during years to come due to, intensifying emphasis on clean energy practice, increasing adoption of electric vehicles and refining economics of battery storage system. Further, development in electric vehicles and electronic gadgets are probable to boost the next generation battery market during coming years. However, advanced batteries offer limitations such as high costs, long recharge time, short cycle life span which hampers the market growth.

Upsurge in demand for compacted, economical, and energy effectual batteries in numerous end-use sectors like consumer electronics and electrical vehicles in emerging and established nations is predictable to boost the global advanced battery market throughout the prediction period. Advanced battery is inexpensive and proposes fast charging than traditional batteries. Such advantages of advanced battery make its acceptance desirable over alternative technologies. Yet, comparative high price of advanced batteries and ambiguous governing frameworks may constraint the market growth. Nonetheless, momentous openings are expected to occur from the electric vehicles industry as numerous manufacturers are producing more lighter, powerful, reliable, durable and inexpensive batteries.

Report Highlights

Asia Pacific is slated to flourish to attain noteworthy take in the global advanced batteries market as the prices of advanced batteries are slowly going to decrease

The growth in the APAC region can be credited to the rising demand from nations such as India, Japan, and China

North America is projected to expand at a protuberant rate during the estimate period.

Lithium-Ion Polymer Battery Segment Seized Significant Market Stake in 2020

Consumer Electronics is Projected to Govern the Advanced Battery Market Revenue

Regional Snapshots

Asia Pacific is expected to display prominent growth prospect on account of economies such as China. The upsurge in battery capacity of China is chiefly done to address the striking demand from the electric vehicle market. Similarly, the local battery suppliers are deliberately intensifying their capacities in proportion with the demand. Furthermore, India is also anticipated to upsurge the local production of lithium-ion batteries. The India lithium-ion battery market is likely to display a vigorous growth throughout the estimate period, amongst augmented acceptance of EVs, renewable and energy storage initiatives. Several new entrants are also proposing innovative products in the market. Such as Green vision Technologies, startup in India, functions under the brand name Relicell and produces sealed, maintenance-free lead-acid batteries for UPS devices and electronic weighing machines. The U.S. based startup named Ateios manufactures ergonomic, ultra-thin printed flexible silver-oxide batteries for wearables.

Technological progressions including printed, flexible, thin-film batteries needed in wearable devices are anticipated to boost the product sale across the North America. Furthermore, research activities attentive on usage of batteries for plug-in EVs are probable to inspire growth in the regional market.

Key Players & Strategies

Industry participants are highlighting R&D operations to produce advanced battery modules and cells that provide improved performance, inferior battery price and longer life than traditional batteries. Major market companies focus on numerous strategic initiatives including their product portfolio diversification in order to improve their footprint in numerous end-use sectors.

For instance, Samsung SDI perceives that government policies are improving sales for energy storage systems. Numerous nations are incorporating main renewable energy investments in their fiscal stimulus programs. With Covid-19 pandemic disheartening people from utilizing public transportation, sales for cylindrical batteries are increasing to power electric scooters and bikes.

Few of the noticeable players operational in the global advanced batteries market include Motorola, Samsung, Sony, Nippon Chemicals, Sanyo, Kodak, Olympus, Honda, Siemens, Fujifilm, FMC Lithium and Maxell among others.

Market Segmentation

By Type

Sodium Sulfur Battery
Sodium Metal Halide Battery
Lithium-Ion Polymer Battery
Advanced Lead Acid Battery
Smart Nano Battery
Others

By Application

Consumer Electronics
Automotive Battery
Energy Storage Systems
Industrial Battery

Regional Segmentation

North America (U.S. and Canada)

Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

Latin America (Brazil and Rest of Latin America)

Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Why should you invest in this report?

If you are aiming to enter the global advanced battery market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for advanced battery are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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