Battery Market Revenue, SWOT, PEST Analysis, Growth Factors, 2020–2028


The global battery market size is expected to reach USD 328.07 billion in 2028 and register a revenue CAGR of 13.7% over the forecast period, according to the latest report by Reports and Data.

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The global battery market size is expected to reach USD 328.07 billion in 2028 and register a revenue CAGR of 13.7% over the forecast period, according to the latest report by Reports and Data. Rising demand for electric, semi-hybrid, and hybrid vehicles, as well as increased integration of innovative electronic components in automotive, are major factors expected to drive market revenue growth between 2021 and 2028. Rising focus of governments on implementing regulatory norms to lower Greenhouse Gas (GHG) emissions, increasing number of power failures, and increasing availability of lithium iron phosphate batteries at comparably lower cost are other key factors driving revenue growth of the battery market. The United States Government has been supporting key players in both, renewables industry and Electric Vehicles (EVs), leading to increased demand for Battery Energy Storage Systems (BESS), driven mostly by high demand for Li-ion batteries. EV adoption is rapidly increasing in the United States,  Canada, and Mexico. These countries have already started to modify transport infrastructure for incorporation of electric vehicles. The United States has been one of the top countries in worldwide electric vehicle sales.

However, fluctuation of raw material prices are expected to restrain market growth to a certain extent over the forecast period. Moreover, supply chain disruptions caused by COVID-19 pandemic have increased prices of raw materials for manufacturing batteries and others, and have also fluctuated battery demand. This is expected to limit market growth to some extent in the near future.

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Competitive Landscape:

The report offers detailed information about research and development activities, license agreement, brand promotions, product and services portfolio and financial standings of each market player. The global Battery market is extremely competitive and comprises key players at regional and are focused on developing various key strategies such as mergers and acquisitions, joint ventures, product developments and collaborations to gain robust footing in the market and expand their product base.

Key Players Profiled in the Report are:

GS Yuasa International Ltd., BYD Company Ltd., A123 Systems LLC, Hitachi Chemical Co., Ltd., Duracell. Johnson Controls, NEC Corporation, Panasonic Corporation, Samsung SDI Co., Ltd., Toshiba Corporation, LG Chem Ltd., Saft, Sony Corporation, Eveready Industries, and Contemporary Amperex Technology Co.

The competitive scenario segment of the report focuses on company overview, total revenue, market potential, market share, growth rate, global presence, estimated revenue, products and services offered, and business strategies adopted. Significant players operating in the global Battery market are evaluated by considering market share, growth rate, revenue share, and product markets. The report focuses on a detailed explanation of competition, market growth size, margins, market shares, revenue estimation, business strategies and opportunities, mergers and acquisitions, sales, industry insights, and key factors.

Market segmentation:

For the purpose of this study, Reports and Data has segmented the global battery market report on the basis of product, application, and region:

Product Outlook (Revenue, USD Billion, 2018 – 2028)

  • Lead Acid
  • Lithium Ion
  • Nickel Metal Hydride
  • Nickel Cadmium
  • Others

Application Outlook (Revenue, USD Billion, 2018 – 2028)

  • Automotive
  • Industrial
  • Portable

Regional Analysis Covers:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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To summarize, the report titled ‘Global Battery Market’ provides a detailed report of the market by extensive research about the companies involved, current market status, drivers and constraints, and current and future COVID-19 oriented scenario. The study explores the historical years to provide insights into market estimation and fruitful opportunities for key players and new ventures.

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The report covers macro and micro-economic factors that are anticipated to affect market growth and dynamics. Along with this, the report also offers insights into the social, political, economic, and legal aspects that are anticipated to influence the growth of the market. Moreover, the report provides a thorough analysis of the size in terms of value and volume and offers an accurate forecast of the market growth and expansion.

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