The Business Research Company’s Battery Technology Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Battery Technology Global Market Report 2023 evaluates battery technology market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global battery technology market size is expected to grow from $100.18 billion in 2022 to $111.48 billion in 2023 at a compound annual growth rate (CAGR) of 11.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the battery technology market size is expected to grow to $166.64 billion in 2027 at a CAGR of 10.6%.
The growing use of electric and hybrid electric vehicles is expected to drive the battery technology market going forward. The electric and hybrid electric vehicles are vehicles powered by fully-electric or partial electric motors. The increased use of electric and hybrid electric vehicles will require a huge number of batteries to be employed to power the vehicles, resulting in cost savings for users. For instance, according to a report by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization offering recommendations, analysis, and data on global energy, the global electric car sales closely doubled to 6.6 million in 2021 compared to 2020, taking the total number of electric cars on the road to 16.5 million. The sales of share of electric cars grew by 4% points in 2021 over 2020. The initiative of Net Zero Emissions by 2050 will drive an electric car fleet of over 300 million by 2030, representing 60% of new car sales. Therefore, the growing use of electric and hybrid electric vehicles will drive the battery technology market going forward.
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The battery technology market segments in the report are:
1) Battery Type: Lead Acid, Lithium-Ion, Nickel Cadium, Nickel Metal Hydride
2) By Power Systems: Fuel Cell Batteries, Proton Exchange Membrane Fuel Cells, Alkaline Fuel Cells, Phosphoric Acid Fuel Cells, Solid Oxide Fuel Cells, Molten Carbonate Fuel Cells, Air Cells
3) By Control Technologies: Battery Chargers, Battery Conditioners, Smart Battery System
4) By Application: Automotive Industry, Consumer Electronics, Residential And Commercial Industry, Power Industry, Defense And Aviation, Other Applications
The table of contents in TBRC’s battery technology market report includes:
1. Executive Summary
2. Battery Technology Market Characteristics
3. Battery Technology Market Trends And Strategies
4. Battery Technology Market – Macro Economic Scenario
5. Battery Technology Market Size And Growth
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26. Africa Battery Technology Market
27. Battery Technology Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Battery Technology Market
29. Battery Technology Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Panasonic Corp
- Samsung SDI Co Ltd
- Contemporary Amperex Technology
- BYD Auto Co Ltd
- Clarios
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