Global Battery Technology Market to 2027

Global Battery Technology Market to 2027

Global Battery Technology Market to 2027

Market Overview

Batteries are the type of energy storage devices which allow transferring electric energy when connected to an electrical circuit. Basically batteries are commonly called as galvanic cell where electrical energy is stored within the battery in the chemical form. Battery technology industry is classified into various types such as Lead Acid Battery, Lithium-ion Battery, Lithium-Metal Battery, Nickel Cadmium Battery, and Nickel Metal Battery.

Market Drivers

Increase in usage of electric and hybrid electric vehicles is expected to boost the global battery technology market. Furthermore, rise in adoption of battery technology in renewable energy industry will have positive impact on global battery technology market growth. Moreover, high demand for automation and battery-operated material handling equipment in industries is expected to propel the growth of global battery technology market. In addition to that, rise in deployment of batteries in utilities sector is expected to drive the global battery technology market growth. In other hand, continuous advancements in wearable devices are likely to prove growth opportunity for the global battery technology market, during this forecast period.

Market Restraints

However, safety issues related to storage transportation of spent batteries is the major restraining factor which is expected to hinder the global battery technology market growth. Also, availability of alternative technologies like compressed air, energy storage and pumped hydro technology will affect the global battery technology market growth. Furthermore, high cost of battery operated industrial vehicle is expected to hamper the global battery technology market growth.

Market Segmentation

Global Battery Technology Market is segmented into types such as Lead Acid Battery, Lithium-ion Battery, Lithium-Metal Battery, Nickel Cadmium Battery, and Nickel Metal Battery, by control technology such as Battery Charger, Battery Conditioner, and Smart Battery System. Further, Global Battery Technology Market is segmented into application such as Automotive Battery control market, Traction Marine and Aviation Battery Control Market, Portable Product Battery Control Market, Stationary Battery Control Market, On-road Electric Vehicle Battery Control Market.

Also, Global Battery Technology Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as Hitachi Chemical, BYD Company, LG Chem, Enersys, Contemporary Amperex Technology Co. Ltd, Samsung Sdi, Chaowei Power, Panasonic Corporation, Clarios, and GS Yuasa.

Market Taxonomy

By Types

• Lead Acid Battery
• Lithium-ion Battery
• Lithium-Metal Battery
• Nickel Cadmium Battery
• Nickel Metal Battery

• Battery Charger
• Battery Conditioner
• Smart Battery System

• Automotive Battery control market
• Traction Marine and Aviation Battery Control Market
• Portable Product Battery Control Market
• Stationary Battery Control Market
• On-road Electric Vehicle Battery Control Market

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa