30 May 2019 - Global Rechargeable Battery Market is anticipated to witness an exponential growth in the forecast period. A rechargeable battery implies a type of battery that could be recharged repeatedly by putting its terminals along DC, after the battery being drained out. Rechargeable batteries offer numerous procedures from its cell and a well long-term investment in terms of money spent on devices, which could be recharged.
The factors that propel the growth of the market include increasing demand for portable devices and consumer devices such as digital cameras, music players, portable computing devices, camera phones, rising demand for bio-based and automobile vehicles, increasing consciousness regarding battery-enabled consumer devices, growing per capita income, and continuous development efforts and high-performance batteries. On the other hand, there are factors that may hamper the growth of the market including high cost and heap alternates of rechargeable batteries.
“Rechargeable battery market is anticipated to expand at a significant CAGR of 8.32% in the upcoming period 2018-2025”
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The declining Li-on battery prices is an emerging trend in the market. Due to the decrease in the demand for other batteries, the Li-ion battery market is observing fast-paced development. The main difference between Li-ion batteries and other battery technology such as fuel cell batteries is the pricing.
Market segment by Type, the product can be split into
- Lead-Acid Battery
- Li-Ion Battery
- Flow Battery
- Other
The “Lead-acid battery” segment led the rechargeable battery market in 2017 and will continue to lead in the forecast period. The key factor that may be attributed to the growth of the market includes an increase in demand.
Based on capacity, market could span 150 - 1000 mAh, 1300 - 2700 mAh, 3000 - 4000 mAh, 4000 - 6000 mAh, 6000 - 10000 mAh and More than 10000 mAh.
Market segment by Application, Rechargeable Battery can be split into
- Automotive
- Power Engineering
- Lighting
- Other
APAC accounted for the major share of the market in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include rapid growth rate and hold moderately large market share, and growing usage and manufacturing of consumer devices such as digital camera, smartphones, speakers, notepads, laptops, etc. in China, and Asia-Pacific region. Asia-Pacific is followed by European and North American region.
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The major manufacturers covered in this report
- Battery Technology, Inc.
- Beckett Energy Systems
- BYD Company Limited
- Duracell Inc.
- EaglePicher Technologies, LLC
- Exide Technologies
- Energizer
- GP Batteries
- Duracell
- Maxell and more…
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