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The global rechargeable battery market reached a value of US$ 101.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 155.5 Billion by 2027, exhibiting at a CAGR of 7.25% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemicon different end use industries. These insights are included in the report as a major market contributor.
A rechargeable battery, also known as a secondary cell, accumulator or storage battery, refers to an electrochemical device that converts chemical energy into electrical energy. These batteries consist of an electrolyte, anode and cathode which produce a current through an electrochemical reaction. They are available in a variety of shapes and sizes ranging from button-sized cells to industrial megawatt systems. Rechargeable batteries have gained immense popularity as they are an ecological and sustainable replacement of non-rechargeable batteries, and provide long-term cost-benefits and enhanced durability. As consumers have been adopting portable devices, such as mobile phones, laptops, cordless power tools and MP3 players, the need for rechargeable batteries has grown substantially over the years.
Nowadays, consumers prefer to use rechargeable batteries as they are more energy efficient, produce less waste and can be charged with a simple battery charger. Besides this, the ongoing innovations in the field of material sciences have enabled manufacturers to improve the performance of lithium-ion batteries which has increased their demand across the globe. For instance, there has been a rise in the usage of advanced lithium-air and -copper batteries in hybrid electric vehicles. Moreover, researchers are developing a new rechargeable battery technology, known as flow battery, that can double the power output, as compared to conventional batteries, without taking up additional space. This technology has the capability to extend the range of electric vehicles as well as the time between cell phone charges.
IMARC Group provides an analysis of the key trends in each sub-segment of the global rechargeable battery market, along with forecasts at the global and regional from 2022-2027. Our report has categorized the market based on battery type, capacity and application.
Breakup by Battery Type:
Breakup by Capacity:
Breakup by Application:
Breakup by Region:
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being East Penn Manufacturing, EnerSysl, Exide Technologies, Johnson Controls, LG Chem, Saft, SAMSUNG SDI, Panasonic Corporation, Apple Inc., STMicroelectronics N.V., Enfucell Oy, Ultralife Corporation, Cryopak, Blue Spark Technology, NEC Energy Solutions Inc., etc.
IMARC Group’s latest report provides a deep insight into the global rechargeable battery market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global rechargeable battery market in any manner.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Battery Type, Capacity, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | East Penn Manufacturing, EnerSysl, Exide Technologies, Johnson Controls, LG Chem, Saft, SAMSUNG SDI, Panasonic Corporation, Apple Inc., STMicroelectronics N.V., Enfucell Oy, Ultralife Corporation, Cryopak, Blue Spark Technology and NEC Energy Solutions Inc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global rechargeable battery market was valued at US$ 101.9 Billion in 2021.
We expect the global rechargeable battery market to exhibit a CAGR of 7.25% during 2022-2027.
The growing demand for portable devices, such as mobile phones, power banks, laptops, etc., along with the increasing utilization of rechargeable batteries based on their high energy efficiency and minimal waste generation, is primarily driving the global rechargeable battery market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for rechargeable batteries.
Based on the battery type, the global rechargeable battery market can be divided into lead-acid batteries, Li-ion batteries, NiMH batteries, NiCd batteries, and others. Currently, Li-ion batteries exhibit a clear dominance in the market.
Based on the capacity, the global rechargeable battery market has been categorized into 150 - 1000 mAh, 1300 - 2700 mAh, 3000 - 4000 mAh, 4000 - 6000 mAh, 6000 - 10000 mAh, and more than 10000 mAh. Among these, 6000 - 10000 mAh currently accounts for the majority of the global market share.
Based on the application, the global rechargeable battery market can be bifurcated into consumer electronics, industrial applications, automobile applications, defense, and others. Currently, automobile applications hold the largest market share.
On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global rechargeable battery market include East Penn Manufacturing, EnerSysl, Exide Technologies, Johnson Controls, LG Chem, Saft, SAMSUNG SDI, Panasonic Corporation, Apple Inc., STMicroelectronics N.V., Enfucell Oy, Ultralife Corporation, Cryopak, Blue Spark Technology, NEC Energy Solutions Inc., etc.
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