Global Battery PACK Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Battery PACK Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A Battery PACK is a set of any number of (preferably) identical batteries or individual battery cells. They may be configured in a series, parallel or a mixture of both to deliver the desired voltage, capacity, or power density. The term Battery PACK is often used in reference to Consumer Electronics, Automotive, Power Tools, and E-bikes, etc. Components of Battery PACKs include the individual batteries or cells, and the interconnects which provide electrical conductivity between them. Rechargeable Battery PACKs often contain a temperature sensor, which the battery charger uses to detect the end of charging. Interconnects are also found in batteries as they are the part which connects each cell, though batteries are most often only arranged in series strings.

Market Overview:

The latest research study on the global Battery PACK market finds that the global Battery PACK market reached a value of USD 62894.91 million in 2022. It’s expected that the market will achieve USD 91977.92 million by 2028, exhibiting a CAGR of 6.54% during the forecast period.

Global Battery PACK Market: Drivers and Restrains

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2016 to 2027. This section mentions the volume of production by region from 2016 to 2027. Pricing analysis is included in the report according to each type from the year 2016 to 2027, manufacturer from 2016 to 2021, region from 2016 to 2021, and global price from 2016 to 2027.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

Region Overview:

From 2023-2028, China is estimated to witness robust growth prospects.

Company Overview:

LG Chem is one of the major players operating in the Battery PACK market, holding a share of 18.18% in 2023.

LG Chem

Since its establishment in 1947, LG Chem has continued to grow with challenges and innovations, becoming the most representative chemical company in Korea. LG Chem has been committed to turning dreams into reality in the past 70 years, successfully developing from unbreakable cosmetic bottle caps to world-leading batteries, creating a rich and beautiful life for customers and mankind. At present, LG Chem, based on a balanced business portfolio of globally-competitive petrochemicals, advanced materials, life sciences, and battery subsidiaries, is aiming to be the world's top five chemical companies and will make another leap forward.

Panasonic Corporation, formerly Matsushita Electric Industrial Co., Ltd. is a major Japanese multinational conglomerate company, headquartered in Kadoma, Osaka. It was founded by Kōnosuke Matsushita in 1918 as a lightbulb socket manufacturer. In addition to consumer electronics of which it was the world's largest maker in the late 20th century, Panasonic offers a wide range of products and services, including rechargeable batteries, automotive and avionic- systems, industrial systems, as well as home renovation and construction.

Segmentation Overview:

Among different product types, Power Battery PACK segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Automotive segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Battery PACK market covered in Chapter 3:

CATL
SINOEV
BYD
Dynapack
DESAY
CALB
Simplo
Sunwoda
COSMX
SDI
LG Chem
SCUD
Panasonic

In Chapter 4 and Chapter 14.2, on the basis of types, the Battery PACK market from 2018 to 2029 is primarily split into:

Laptop Battery PACK
Phone Battery PACK
Power Battery PACK
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Battery PACK market from 2018 to 2029 covers:

Consumer Electronics
Automotive
Power Tools
E-bikes
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)