The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
The Europe rechargeable battery market is expected to exhibit strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Rechargeable batteries, also known as secondary cells and storage batteries, convert chemical energy into electrical energy. These batteries comprise an anode, a cathode and an electrolyte and are widely available in different shapes and sizes. They have gained immense popularity in Europe as they are a sustainable alternative to non-rechargeable batteries and offer long-term cost benefits.
At present, the leading manufacturers are focusing on improving the overall performance of rechargeable batteries. Consequently, they are developing new rechargeable battery technologies, such as the flow battery, which offers double power output than conventional batteries. Another factor driving the sales of these batteries is the lower self-discharge rate due to the disparity in electro chemicals and advancements in technology. Apart from this, rising environmental concerns and climate change have escalated the demand for rechargeable batteries in the region. Furthermore, the gradual shift towards electronic vehicles is increasing the production of rechargeable batteries, which is positively influencing the market growth. However, the rapid increase in coronavirus disease (COVID-19) cases has negatively impacted the demand for rechargeable batteries, but the market is expected to recover once lockdown restrictions are uplifted.
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe Rechargeable Battery market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, battery type, capacity and application.
Market Breakup by Battery Type:
Market Breakup by Capacity:
Market Breakup by Application:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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