Global Next Generation Batteries Market was worth US$ Bn in 2019 and is expected to grow at 8 % to reach at US$ Bn in forecast period.
Global Next Generation Batteries Market Overview:
Batteries are considered amongst the most important man-made inventions. Next generation batteries are upgraded version of the existing batteries, which have higher efficiency and low cost. Battery technologies helped to unlock growth and advancements in various sectors such as electric vehicles, electronic devices and battery energy storage for renewable energy. Enhancement in the technology has encouraged electronics industries to develop the durable batteries for commercial use. Li-Ion made a revolutionary change in the world of consumer electronics. The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. Global Next Generation Batteries Market Dynamics:
Global next generation batteries market is anticipated to witness healthy growth in the coming years on account of the rising market of electric vehicles, rising focus on clean energy, and improving economics of battery storage system. Also, substantial growth of electronic gadgets is expected to drive the next generation battery market over the forecast period (2020-2027). The increasing renewable energy infrastructure is providing a huge opportunities for the growth of the market. It is estimated that, more than one billion rechargeable Li-ion cells are produced every year to fulfill the demands of the portable consumer electronics market. However concerns related to the use of liquid electrolytes and the safety issues are the challenges in the market. Issues related to energy density and high cost in development and testing are the factors restraining the market. Global Next Generation Batteries Market, Segmentation Analysis: Asia-Pacific to Dominate the Market
The growing demand for portable devices, such as mobile phones, portable chargers, watch, and cameras, are boosting the demand for lithium batteries in the region. Local battery suppliers are aggressively expanding their capacities as the demand increases. Increase in battery capacity of China is primarily due to government subsidies. India is expected to increase the domestic production of lithium-ion batteries. Indian startup Greenvision Technologies is manufacturing maintenance-free, sealed lead-acid batteries for Uninterrupted Power Supply (UPS) devices and electronic weighing machines. The rising industrialization in the developing countries, increasing adoption of e-mobility industry, increase in population and therefore increasing usage of consumer electronic appliances are the factors accounted for the growth of the market. Furthermore huge investments by automotive giants in research and development in electric vehicle batteries and rising government initiatives for green fuel is also another major factor fuelling the market growth. The objective of the report is to present a comprehensive analysis of Global Next Generation Batteries Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Next Generation Batteries Market dynamics, structure by analyzing the market segments and project the Global Next Generation Batteries Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Next Generation Batteries Market make the report investor’s guide.