Rechargeable Battery Market: Global Trends, Growth, Market & Forecast 2018-2023

Posted by Rishabh on July 10th, 2019

Orion Market Research (OMR) recently published a market research report on Global Rechargeable Battery Market. According to OMR analysis, the global rechargeable battery market is expected to grow at a significant CAGR during the forecast period 2018-2023. The rechargeable battery market is estimated to grow at significant rate due to rising demand for rechargeable battery in automotive, consumer goods, electronics and other industries. The global rechargeable battery market can be bifurcated into by product types which can be further segmented into lithium-ion battery, sodium-ion battery, nickel-cadmium battery, nickel-metal hydride battery, zinc nickel battery and other product types; by application which can be segmented into consumer electronics, industrial applications, automotive application, defense, and other applications; and geography. The report provides detailed and insightful chapters which includes market overview, key findings, strategic recommendations, competitive landscape, market determinants, key company analysis, market insights, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.

Rechargeable batteries are those batteries which can be recharged again after a battery power drainage. The rechargeable batteries are more reliable and substantial alternative to non-rechargeable batteries. Non-rechargeable batteries produce electricity by a chemical reaction which uses a reactive anode and get exhausted after a while. Rechargeable, however also uses anode that exhausts but at comparatively slower rate, which allow multiple charges and discharges. The rechargeable battery market is expected to grow at a significant rate due to increasing demand for consumer devices and portable devices such as music players, digital cameras, camera phones, and portable computing devices and so forth. Also, growing demand for automobile and bio-based vehicles, and battery-enabled consumer devices are the factors which support the market growth. There are various applications of rechargeable batteries, some of them include automobile (automobile starters and light vehicles), portable consumer devices and so on. Electric vehicles and hybrid internal combustion-battery involve some evolving applications, which provide less weight, cut cost, increase durability. However, high cost and large alternatives for rechargeable batteries are restraining the market growth. Advancements in technology such as 3D printed lithium-ion cells and extensive research on new rechargeable battery platforms are creating enough opportunities in the market.

Full report of global Rechargeable Battery Market is available at:

On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific region dominates the market due to huge customer base, growing disposable income, rapid urbanization in Japan, and other emerging economies like China, India, and South Korea. The region is expected to show substantial rise on account of implementation of government policies to promote electric vehicles in India & China. North America and Europe region are expected to grow at a modest rate.

Some of the major key players in the global rechargeable battery market include A123 Systems LLC, AES Energy Storage, LLC, AGM Batteries Ltd., AkzoNobel, Altair Nanotechnologies, Inc., Aquion Energy, Inc., Axion Power International, Inc., BASF SE, Broadbit Batteries OY and Cell-Con, Inc.

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