Battery Market | Discover Top Segments, Trends, Drivers and Challenges
Market Segments and Growth Analysis 2021-2025
The battery market is expected to grow by $ 82.89 billion, accelerating at a CAGR of almost 27.77% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Battery Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The Battery Market is segmented by Application (Consumer Electronics, Transportation, and Stationary) and Geography (APAC, North America, Europe, South America, and MEA).
- The APAC region emerged as the leading segment in recent years. 62% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Battery Market size.
Battery Market: Trends, Drivers, Challenges to impact growth
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- A key market driver for the Battery Market will be rising inclusion of renewables in the energy mix.
- Shift of automotive industry towards EV will be instrumental in driving the market growth during the forecast period.
- Demand-supply gap of battery components is a hurdle that needs to be crossed on the path to success.
Battery Market: Vendor Analysis
- The market is fragmented.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- Aptiv Plc, Exide Technologies, GS Yuasa Corp., Johnson Controls International Plc, LG Chem Ltd., Panasonic Corp., Robert Bosch GmbH, Saft Groupe SA, Samsung SDI Co. Ltd., and Toshiba Corp. are some of the major market participants.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of 27.77%.
- What is the incremental growth of the market?
The market is expected to grow by $ 82.89 bn through 2021-2025.
- What is a key factor driving this market?
Rising inclusion of renewables in the energy mix will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, North America, Europe, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market:
62% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are Aptiv Plc, Exide Technologies, GS Yuasa Corp., Johnson Controls International Plc, LG Chem Ltd., Panasonic Corp., Robert Bosch GmbH, Saft Groupe SA, Samsung SDI Co. Ltd., and Toshiba Corp.
- What are the market segments covered in this report?
The market is segmented by Application (Consumer Electronics, Transportation, and Stationary) and Geography (APAC, North America, Europe, South America, and MEA)