The global rechargeable battery market is anticipated to grow significantly at a CAGR of 6.5% during the forecast period. The demand for rechargeable batteries is growing in the automotive, consumer appliance, electronic, and other industries. Rechargeable batteries have grown in popularity as an environmentally friendly and sustainable replacement alternative to non-rechargeable batteries, offering long-term cost-benefit and increased durability. The demand for rechargeable batteries has grown significantly as consumers have adopted portable devices such as cell phones, laptops, cordless power tools, and MP3 players.
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The global rechargeable battery market is hit by the COVID-19 pandemic in December 2019. The automotive and transportation industries are among the most vulnerable sectors to the ongoing COVID-19 pandemic, and they are currently experiencing unprecedented uncertainty. COVID-19 is projected to have a substantial impact on the automotive supply chain and product demand. The industry’s main concern has shifted from disruptions in China’s supply chain to a general drop in demand for automotive items. With all non-essential services shut down, demand for an electric vehicle is projected to drop along with this the rechargeable battery sale has seen a huge decline among the countries. Meanwhile, a liquidity shortage and cash crunch have already had an impact on fleet operator sales, which is projected to worsen in the coming months. The market will witness “V” shape recovery in near future owing to the restart of activities in major economies.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Rechargeable Battery Market by Type
- Lithium-Ion Battery
- Sodium-Ion Battery
- Nickel-Cadmium Battery
- Nickel-Metal Hydride Battery
- Zinc Nickel Battery
- Others
Global Rechargeable Battery Market by Application
- Consumer Electronics
- Industrial Applications
- Automobile Applications
- Aerospace &Defense
- Others (Grid-Level Applications)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- A123 Systems LLC
- Akzo Nobel N.V.
- BASF SE
- BroadBit Batteries Oy
- BYD Company Ltd.
- Cell-Con, Inc.
- Contemporary Amperex Technology Co., Ltd. (CATL)
- Duracell Inc.
- Energus Power Solutions, Ltd.
- GS Yuasa Corp.
- LG Chem Ltd.
- MaxPower, Inc.
- OXIS Energy Ltd (OXIS)
- Panasonic Corp.
- ProLogium Technology Co., Ltd.
- Robert Bosch GmbH
- Shenzhen Nova Energy Co.,Ltd.
- Showa Denko Materials Co., Ltd.
- Solvay Group
- Tesla, Inc.
- The AES Corp.
- Toshiba Corp.
- ZPower, LLC
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global rechargeable battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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