Battery-Market expected to post a growth rate of 4% CAGR between 2017 and 2023

Pune, India, May, 2018 /MRFR Press Release/- Market research future published a raw research report on Batteries Market. The global Batteries market is expected to grow at a CAGR of about 4% during the forecast period, 2018 to 2023.

Market Highlights

Batteries provide the electric energy to automobiles for starting, lighting and ignition. The rising demand of hybrid, semi-hybrid and fully electric vehicles will drive the global battery market. Also, the adoption rate of these batteries in passenger vehicle is increasing, which will drive this market. Recent innovations, which provide for high-efficiency and longer power back-up in smartphones/ tablets and PCs enable this technology to reach a wider range of audiences. Emerging technologies such as flexible batteries and aluminum-ion batteries, are expected to increase the competition. The high purchase price creates a major limitation for the consumers to adopt lithium battery into their devices or systems. Safety issues related to battery usage may hamper the growth of global battery market, which otherwise has been projected to grow at 4% in the next five years.

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Key Players

The leading players in the battery markets are Exide Technologies (U.S.), Douglas Battery (U.S.), Penn Manufacturing Company, Inc. (U.S.), Johnson Controls Inc (U.S.), The Furukawa Battery Co. ltd (Japan), Zhejiang Haijiu Battery Co. Ltd (China), Chaowei Power Holding ltd (China), CamelGroup (Italy) and Fengfan Co. Ltd. (China)

Table Of Contents

1 Executive Summary

2 Research Methodology

2.1 Scope Of The Study

2.1.1 Definition

2.1.2 Research Objective

2.1.3 Assumptions

2.1.4 Limitations

2.2 Research Process

2.2.1 Primary Research

2.2.2 Secondary Research

2.3 Market Size Estimation

2.4 Forecast Model

3 Market Dynamics

3.1 Market Drivers

3.2 Market Inhibitors

3.3 Supply/Value Chain Analysis

3.4 Porter’s Five Forces Analysis

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Target Audience

• Organizations


• Manufacturer


• Research Institute / Education Institute


• Potential Investors

Regional Analysis of Battery Market

Asia-Pacific is dominating the market of battery due to the rising demand for automobiles and industrialization. The developing countries in Asia-Pacific such as China and India are expected to hold the largest market share of the battery market due to rising automotive production activities. Rising demand from consumer electronics segment and increasing number of electric vehicles in China and Japan are driving the market towards growth.

North America region is also vital in the growth of global battery market, due to the rising eco-friendly initiatives & production of technologically advanced vehicles. This region will grow at a good pace during the forecast period.

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