BATTERY INDUSTRY:

A battery is made up of one or more cells that allow chemical energy to be converted into electricity. Batteries are utilized in transportation, industrial, and commercial applications to provide primary power or as a backup power source. With increased demand in the global transportation business, the market for batteries is expected to grow as well. One of the key elements driving this rise is the increasing number of electrical circuits and devices in the transportation industry.

AUTOMOTIVE BATTERIES MARKET:

An automobile battery is a rechargeable battery that powers a vehicle’s electrical system. Batteries are primarily utilized to power a vehicle’s starter, lighting, and ignition systems. Because of lowering battery prices, dwindling crude oil sources, and the negative environmental impact of conventional automobiles, the worldwide automotive battery industry is expected to increase steadily. The Automotive Battery Market is predicted to grow at a rate of 5.5 percent over the next five years.

LEAD ACID BATTERY

The global lead acid battery market is expected to grow at a CAGR of 4.7 percent over the next five years. A lead acid battery is a type of energy storage device that is widely used in the automotive, energy storage, and telecommunications industries, as well as in utilities, maritime, manufacturing, and the chemical and pharmaceutical industries. Lead-acid batteries are widely employed in a variety of sectors. Utility, transportation, industrial, commercial & residential, and utility, transportation, industrial, and commercial & residential are the end-user segments of the market. Because the region contains relatively developing countries that seek cost-effective energy storage solutions, Asia Pacific dominates the worldwide lead acid battery market. The transportation, industrial, commercial, and residential sectors, as well as the transportation sector, were found to be the primary customers of these battery systems. The primary industrial hubs in this area are China, Singapore, South Korea, Japan, and India, which offer great growth prospects for the lead-acid battery market.

LITHIUM-ION (LI-ION) BATTERY:

The global lithium-ion battery market is predicted to develop at a 16.4% compound annual growth rate (CAGR). Lithium-Ion batteries, often known as Li-Ion batteries, are a type of rechargeable battery used in a variety of applications, the most popular of which is in the electronics sector. Portable electricity is provided by Li-Ion batteries, which power electronic devices such as cell phones, computers, and tablets. Medical devices, electric vehicles, and power tools all require Li-Ion batteries for electricity. Lithium is the most common material used in Li-Ion battery packs since it is more stable and safer than other minerals when it comes to charging and discharging energy. Apart from the electronics industry, lithium is used in mining, manufacturing, energy storage, and a variety of other industries. The great features of li-ion batteries, increasing usage of consumer electronics, and increased R&D effort by various organisations and battery manufacturers are projected to fuel the expansion of this market.

ELECTRIC VEHICLE BATTERY (EV BATTERY)

The global EV battery market is projected to grow at a CAGR of 25.3%. Increasing demand of electric vehicles, improvement in battery technology, supporting government policies and regulations, and launch of new plug-in EV models are factors responsible to drive the EV battery market. The emergence of Lithium-ion technology has fueled the growth rate for batteries over the last two decades. While initial hybrid vehicles used Nickel Metal Hydride (NiMH) batteries, Li-ion batteries have been the primary solutions for automakers to power plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). High-energy density, charge retention capacity, and low maintenance are some of the benefits that have accelerated the growth of Li-ion as a battery technology. Automobile manufacturers introducing BEVs and PHEVs in the EV battery market are further enhancing the technology and are anticipated to offer Li-ion powered solutions as a primary power source in their vehicles.

MAINTENANCE FREE RECHARGEABLE BATTERY

One of the primary factors driving the market’s growth is an increase in global demand for portable electronic devices. Smartphones, tablets, and laptops, as well as numerous wearable and associated smart devices, have become an indispensable part of most people’s lives, boosting the demand for rechargeable batteries. Furthermore, rising environmental awareness has boosted demand for electric vehicles, which is driving sales of rechargeable lithium-ion batteries in the mid- to large-size range. Competitors in the rechargeable battery market are always concentrating on developing unique variations with improved charging efficiency.

BATTERY RECYCLING

Battery recycling refers to the gathering of batteries from a variety of sources, such as automotive, industrial, consumer, and electronics equipment, as well as the recovery of metals from those batteries. The battery recycling industry is expected to develop at a compound annual growth rate (CAGR) of 6.1 percent. Increased concerns about the depletion of valuable and rare earth metals, rising demand for recycled batteries and other materials, and severe government laws and EPA (Environmental Protection Agency) standards are all contributing to the rise of the battery recycling business.

BATTERY PLATE

The global market for battery plates is predicted to expand significantly due to the increasing integration of electronics in automobiles. The global automotive battery plate market is predicted to grow as automobile production rises. OEMs are looking to expand their production plants in a place where labour is inexpensive and plentiful. The growth of the commercial vehicle industry will be aided by increased sales of commercial vehicles.

BATTERY SEPARATOR

The battery separator market is predicted to increase at a CAGR of 12.85% over the next five years. A battery separator is a form of partition that separates the anode and cathode structures. It’s also employed to keep the two from mixing and to function as a catalyst between them, preventing short circuits and allowing charge transfer, therefore it’s kept wet with electrolytes solely for this purpose. The growing demand for smart electronic gadgets has had a significant impact on the battery separator market’s growth. In accordance with this, advancements in Li-Ion batteries, as well as rising demand for EVS, are important determinants encouraging the battery separator market’s growth.

BATTERY INDUSTRY IN INDIA:

The battery market in India is predicted to develop at a CAGR of more than 15% in the coming years. With the surge in electric car sales and expanding solar PV installations in the country, the India battery market is already gaining traction and is predicted to grow in the worldwide market throughout the forecast period, driving the industry. Several government initiatives in India, such as the promotion of fuel-saving programmes and clean fuel-based automotive technology, are expected to boost battery demand.

GLOBAL BATTERY MARKET:

The global battery market is predicted to develop at a 4.15 percent compound annual growth rate (CAGR). The increasing demand from the automotive application is responsible for the market’s rise. Rechargeable batteries are utilised in non-rechargeable batteries and electric vehicles in the automobile industry. Over the projection period, the rising global popularity of consumer electronics is expected to increase the use of lithium-ion batteries as a product category. Portable electronics, such as LCD displays, smartphones, tablets, and wearable devices like fitness bands, are in high demand, increasing market growth. Because of technical developments in terms of increased efficiency, cost-effectiveness, and product innovation, the market is predicted to rise significantly. Battery demand is likely to be driven by strict emission requirements imposed by government agencies in developed countries such as the United States and the United Kingdom, as well as an increasing focus on fuel efficiency.

TOP KEY PLAYERS WORLDWIDE:

• W. Webb Company
• Tripp Lite
• Associated Bag
• Essentra Components
• Mouser Electronics
• Power-Sonic Corporation
• Scott’s Emergency Lighting & Power Generation, Inc.
• Bisco Industries
• Positive Battery Co.
• Green Rubber Kennedy AG
• Exide Industries Ltd.
• Luminous Power Technologies Pvt. Ltd.
• HBL Power Systems Ltd.
• TATA AutoComp GY Batteries Pvt. Ltd.
• Okaya Power Pvt. Ltd.