One of the key drivers of the global market for rechargeable batteries is the increasing demand for consumer devices like digital cameras, music players, and others. The market for rechargeable batteries was estimated to be worth $28.1 billion globally in 2021 and to grow to $49.7 billion by 2030. The market for rechargeable batteries is anticipated to expand at a CAGR of 6.1 percent from 2022 to 2030. The market is expanding due to the widespread use of rechargeable batteries. The market for rechargeable batteries is also anticipated to rise in the next years due to new uses in hybrid and electric cars.
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GLOBAL RECHARGEABLE BATTERIES MARKET SEGMENTATION
This report broadly segments the global rechargeable batteries market into type, sales channel, and application. The rechargeable batteries market, by type is segmented into lead-acid batteries, lithium-ion batteries, nickel-metal hydride, nickel-cadmium batteries and others. In 2021, li-ion batteries accounted for the largest market share in overall rechargeable batteries market and is expected to continue its dominance during the forecast period.
On the basis of application, global rechargeable batteries market has been segmented into automotive, consumer electronics, construction & mining equipment, recreational & personal mobility vehicles and others. In 2021, Automotive and industrial applications generated highest demand for rechargeable batteries as compared to other segments.
Based on sales channel, the market has been further categorized into OEM and aftermarket.
GLOBAL RECHARGEABLE BATTERIES MARKET REGIONAL ANALYSIS
In the terms of geography, the global rechargeable batteries market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. Asia Pacific commanded the largest percentage of market share in 2021. Furthermore, Asia Pacific rechargeable batteries market is expected to propel at a significant rate on the account of growing automotive industry. India, China, Japan are the major markets of rechargeable battery in Asia Pacific.
GLOBAL RECHARGEABLE BATTERIES MARKET COMPETITIVE LANDSCAPE
The report offers comprehensive coverage of major vendors including recent product development & industrial activities, company overview, insights on business strategy & financial performance, company SWOT analysis among others.
Some of the key players mentioned in the report are Battery Technology Inc., Beckett Energy Systems, BYD Company Ltd., Duracell Inc. Energizer Holdings, Inc., Eveready Industries India Ltd., FDK Corporation, GPB International Limited, GS Yuasa Corporation, Highpower International Inc., Jiangmen TWD Technology Co., Ltd., Johnson Controls International Plc, LG Chem, Panasonic Corporation, Saft Groupe S.A., Samsung SDI Co. Ltd., Spectrum Brands, Inc., Tohoku Murata Manufacturing Co., Ltd. and Ultralife Corporation, among others.
SCOPE OF THE REPORT
This market report provides in-depth market analysis and insight of market drivers, challenges, trends & opportunities.
Rechargeable Batteries Market by Type
- Lead-Acid Batteries
- Lithium-ion Batteries
- Nickel-Metal Hydride
- Nickel-Cadmium Batteries
Rechargeable Batteries Market by Application
- Internal Combustion Engine
- Hybrid & Electric Vehicle
- Consumer Electronics
o Mobile Phones
o Power Tools
- Construction & Mining Equipment
- Recreational & Personal Mobility Vehicles
Rechargeable Batteries Market by Sales Channel
Rechargeable Batteries Market by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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