Over 11%, CAGR, Secondary Battery Market

NEW YORK, August 30, 2022 /PRNewswire/ — The SECONDARY BATTERY MARKET the value is set to grow by $55.62 billion from 2019 to 2024, according to the latest Technavio report. The 2020 year-on-year growth rate was estimated at 2.01%. The market is fragmented, and to make the most of opportunities, market vendors are focusing more on growth prospects in fast-growing segments, while maintaining their positions in slow-growing segments. The report analyzes the competitive landscape of the market and offers insights on various vendors in the market, including BYD Co. Ltd., Clarios, Contemporary Amperex Technology Co. Ltd., East Penn Manufacturing Co. Inc., Exide Technologies, GS Yuasa Corp., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd. and Tesla Inc.

Technavio has announced its latest market research report titled Secondary Battery Market By Technology And Geography – Forecast And Analysis 2020-2024

Technavio has announced its latest market research report titled Secondary Battery Market By Technology And Geography – Forecast And Analysis 2020-2024

Advantages of the lithium-ion battery to offer immense growth opportunities. Lithium-ion batteries are preferable to other batteries due to their various advantages, such as higher current density, higher energy holding capacity, and longer lifespan. These batteries are also less expensive than lead-acid batteries or NiMH batteries. Cost reductions coupled with improved performance of lithium-ion batteries will drive sales of these batteries and subsequently drive growth of the global secondary battery market during the forecast period.

With the continued increase in global energy demand, clean energy initiatives, and subsidies for energy generation through sustainability, the use of renewable energy sources, such as solar and wind power, has also increased. Intermittent power generation from renewable energy sources will increase the need for solutions such as battery energy storage in both on-grid and off-grid locations. Therefore, the increase in the use of renewable energies will fuel the demand for secondary batteries during the forecast period.

Browse Summary of the SECONDARY BATTERY MARKET Research report for more information

Secondary Battery Market 2020-2024: Segmentation

Lead-acid batteries are cost effective compared to other battery technologies. Increasing industrial and construction activities, high adoption of battery technology in automotive and UPS applications, and growing adoption of electric vehicles are some of the factors driving the growth of the secondary battery market in this segment.

Nearly 64% of the market growth will originate from APAC during the forecast period. Porcelain Y Japan are the key markets for secondary batteries in APAC. The market growth in this region will be faster than the market growth in other regions.

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Secondary Battery Market 2020-2024: Scope

Technavio presents a detailed picture of the market by studying, synthesizing and adding data from multiple sources. Our report covers the following areas:

Secondary Battery Market 2020-2024: Highlights

  • Market CAGR during the forecast period 2020-2024

  • Detailed information on factors that will assist secondary battery market growth during the next five years

  • Estimation of the size of the secondary battery market and its contribution to the parent market

  • Predictions about upcoming trends and changes in consumer behavior

  • The growth of the secondary battery market

  • Analysis of the competitive landscape of the market and detailed information on the suppliers.

  • Comprehensive details of factors that will challenge the growth of secondary battery market vendors

Related Reports:

Browse Summary of the SECONDARY BATTERY RECYCLING MARKET Report by Type and Geography – Forecast and Analysis 2020-2024: The market value is destined to grow by $5 billion, progressing at a CAGR of almost 7% from 2019 to 2024, according to the latest Technavio report. This Secondary Battery Recycling Market report further involves segmentations by type (lead-acid battery, lithium-ion battery, and others) and geography (APAC, Europe, North America, South Americaand MEA).

Browse Summary of the BATTERY RECYCLING MARKET Battery Chemistry, Battery Source and Geography Report – Forecast and Analysis 2021-2025: The market value is destined to grow by $6.28 billion, progressing at a CAGR of 9% from 2020 to 2025, according to the latest Technavio report. The Battery Recycling Market Report also offers insights on various vendors in the market, including Accurec Recycling GmbH, Battery Solutions LLC, Call2Recycle Inc., and more.

Secondary Battery Market Scope

Report Coverage

Details

Page number

120

base year

2019

forecast period

2020-2024

Growth momentum and CAGR

Accelerates at a CAGR of 11%

Market growth 2020-2024

$55.62 billion

market structure

Fragmented

YoY growth (%)

2.01

regional analysis

North America, APAC, Europe, South America and MEA

Contribution to the real market

Asia-Pacific at 64%

Main consumer countries

China and Japan

competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

BYD Co. Ltd., Clarios, Contemporary Amperex Technology Co. Ltd., East Penn Manufacturing Co. Inc., Exide Technologies, GS Yuasa Corp., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd. and Tesla Cía.

market dynamics

Major market analysis, market growth drivers and obstacles, fast and slow growing segments analysis, impact of COVID 19 and future consumer dynamics, and market condition analysis for the forecast period.

Personalization Preview

If our report didn’t include the data you’re looking for, you can contact our analysts and get custom segments.

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Table of Contents:

Executive Summary

market landscape

  • market ecosystem

  • Analysis of the value chain

Size of the market

Five Forces Analysis

Market segmentation by technology

  • Market segments

  • Technology Placement Comparison

  • Lead Acid – Market Size and Forecast 2019-2024

  • Lithium Ions: Market Size and Forecast 2019-2024

  • Others – Market Size and Forecast 2019-2024

  • Market opportunity by Technology

Customer Landscape

Geographic Landscape

  • Geographical segmentation

  • Geographic Comparison

  • APAC – Market Size and Forecast 2019-2024

  • Europe – Market size and forecast 2019-2024

  • North America – Market size and forecast 2019-2024

  • MEA – Market Size and Forecast 2019-2024

  • South America – Market size and forecast 2019-2024

  • Main leading countries

  • Market opportunity by geography

Drivers, challenges and trends

  • market indicators

  • Volume driver: growth driven by demand

  • Volume driver: supply-led growth

  • Volume controller: external factors

  • Volume Driver – Demand Change in Adjacent Markets

  • Price Driver – Inflation

  • Price controller: change from lower priced units to higher priced units

  • market challenges

  • market trends

Provider Landscape

  • Overview

  • Provider Landscape

  • landscape disruption

Supplier analysis

  • Covered Providers

  • Positioning in the market of suppliers.

  • BYD Co.Ltd.

  • clarios

  • Contemporary Amperex Technology Co. Ltd.

  • East Penn Manufacturing Co. Inc.

  • Exide Technologies

  • GS YuasaCorp.

  • LG Chem Ltd.

  • panasonic corp.

  • Samsung SDI Co.Ltd.

  • tesla inc.

Appendix

About us

Technavio is a world leader in technology research and consulting. His research and analysis focus on emerging market trends and provide useful insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With more than 500 specialist analysts, Technavio’s reporting library consists of more than 17,000 reports and counting, covering 800 technologies and spanning 50 countries. Its client base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market insights to identify opportunities in existing markets and and assess their competitive positions within changing market scenarios.

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