Global Battery Market

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The Global Battery Market is expected to grow from USD 14.08 billion in 2016 to USD 17.25 billion by 2021, at a CAGR of 4.15% from 2016 to 2021. A battery consists of one or multiple cells which facilitates the conversion of chemical energy into electricity. Batteries are used to supply primary power or act as back-up power supply in transport, industrial, or commercial applications. With the demand in the global transportation market increasing, the market for batteries is also projected to grow. Rising number of electrical circuits and devices in the transportation industry is one of the major factors driving this growth. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.
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The following are the major objectives of the study.
  • To define, describe, and forecast the global battery market for the two-wheeler, automotive (passenger car, LCV, and HCV), aerospace, and marine segments
  • To offer detailed information regarding major factors influencing growth of the market (drivers, restraints, opportunities and industry specific challenges)
  • To strategically analyze markets with respect to individual growth trends, future prospects, and contribution to the total market
  • To analyze the opportunities in the market for stakeholders and details of a competitive landscape for market leaders
  • To forecast the market size for the two-wheeler, automotive, and marine segments with respect to four main regions (along with key countries), namely, North America, Europe, Asia-Oceania, and Rest of the World. For the aerospace segment, the regional segmentation includes Latin America, the Middle East and Africa, Asia- Oceania, Europe, and North America
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as expansions, joint ventures, new product launches, and the latest trends in research & development in the global battery mark.
During this research study, major players operating in the global battery market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the research study.
Major Market Developments
  • In February 2016, Johnson Controls has invested USD 112 million in its facility in Hannover, Germany. The company aims to expand production capacity of AGM batteries by 65 percent.
  • In February 2016, Panasonic Corporation established a joint venture with Dalian Levear Electric Co., Ltd in China to manufacture automotive batteries. This joint venture will utilize Panasonic’s technological capabilities and knowhow for the production and quality control of automotive batteries to be manufactured for eco-friendly vehicles.
  • In December 2015, Bosch had invented a new battery using lithium ion technology which is lightweight as compares to lead acid batteries and is suitable for two wheelers, scooters and jet-skis.
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Target Audience
  • Battery Manufacturers
  • Battery component suppliers and distributors
  • Electric vehicle manufacturers
  • Hybrid electric vehicle manufacturers
  • Automotive Manufacturers
  • Airplane Manufacturers
Growth in Transportation needs: Key driver for Battery market
The transportation industry across the globe has grown significantly since the past few years. Increasing population and subsequent change in demand for vehicle has increased. China is the leading carmaker in the world with a 26% share in worldwide production of cars. Sales for cars have risen from 23.5 million in 2014 to 24.6 million in 2015, in China. Countries like India and the U.S. are also booming markets for vehicles. These are the main reasons behind the blooming market for batteries. Increasing population and economic growth are responsible for increasing automobile sales as well as sales of other ways of transportation such as marine, two wheelers and aviation. Increased traffic of international transportation has led to increased demand for marine and aviation transport which has led to the growth of for the global battery market.
This growth can also be attributed to rapid urbanization, increased per capita income, and technological advancements from established players in the industry. As a collective effect of the points mentioned above, there is an estimated growth in transportation activities around the globe, thus, resulting in the growth of the global battery market.
Electric Powered Vehicles: The rising trend
The use of electric power in vehicle as a fuel is new trend in last few years. Environmental changes and scarce oil resources are the driving force behind their increasing adoption. Electric power is cheaper and cleaner than conventional fuels, which helps in reduction of CO2 emissions which are responsible for global warming. Technological advancements in the field of alternative fueled vehicles such as electric vehicles is are estimated to present an attractive opportunity for the market players. OEMs such as Tesla Motors and Toyota Motor Company have successfully launched vehicles with electric powertrains owing to an increasing demand for efficient transportation. Governments are also promoting the adoption of alternative fuel vehicles to reduce the dependence on oil imports. This is also a major driver for batteries used in these vehicles.
Booming two wheeler market in Asia Oceania.
Asia Oceania is the largest market for two wheelers owing to high preference for such vehicles as a mode of transport. Asia includes India and China, two countries with world’s largest populations where there is a high demand for two wheelers. Even low income countries like Indonesia have a huge market for two wheelers.
The report covers all the major players in the global battery market that includes companies such as Johnson Controls Inc. (U.S.), Exide Technologies (U.S.), GS Yuasa (Japan), Robert Bosch GmbH (Germany), and Saft Groupe S.A. (France) among others.
The report covers the global battery market, in terms of volume (‘000 units) and value (USD million). It explains the qualitative and quantitative aspects of the Global Battery Market based on region, application, and battery type from 2015 to 2021.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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sales@marketsandmarkets.com
Source: Global Battery Market worth 17.26 Billion USD by 2021
Location: United States

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