by The advanced battery market size is projected to surpass around US$ 175.13 billion by 2032 and is expected to grow at a CAGR of 8.8% over the forecast period 2023 to 2032.
A battery comprises of one or multiple cells which eases the translation of chemical energy to electricity. Batteries are employed to supply primary power and also work as back-up power supply in industrial, transport, and commercial applications. As the global transportation sector is growing, batteries market is also expected to grow proportionally. Increasing number of electrical devices and circuits in the transportation sector is one of the main influences boosting the growth of the market.
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Advanced battery technology such as A lithium-ion (Li-ion) battery makes use of lithium ions as a main constituent of its electrochemistry. Lithium atoms in the anode, throughout a discharge cycle, are ionized and detached from their electrons. Silver-oxide batteries are employed in small electronic devices such as cameras, watches, wearables among others. Also, zinc-carbon batteries find application in consumer electronics on account of its low costs and better conductivity from carbon-improved technology. Current, lead-acid batteries are utilized for powering electric vehicles, and consumer electronic devices for storage purpose. Advanced battery technologies like sodium sulfur batteries, lead-acid batteries, advanced flow batteries, lithium ion, sodium metal halide and lithium polymer batteries can be some of the crucial segments based on this technology.
Growth Factors
Advanced batteries market is predicted to observe vigorous growth during years to come due to, intensifying emphasis on clean energy practice, increasing adoption of electric vehicles and refining economics of battery storage system. Further, development in electric vehicles and electronic gadgets are probable to boost the next generation battery market during coming years. However, advanced batteries offer limitations such as high costs, long recharge time, short cycle life span which hampers the market growth.
Upsurge in demand for compacted, economical, and energy effectual batteries in numerous end-use sectors like consumer electronics and electrical vehicles in emerging and established nations is predictable to boost the global advanced battery market throughout the prediction period. Advanced battery is inexpensive and proposes fast charging than traditional batteries. Such advantages of advanced battery make its acceptance desirable over alternative technologies. Yet, comparative high price of advanced batteries and ambiguous governing frameworks may constraint the market growth. Nonetheless, momentous openings are expected to occur from the electric vehicles industry as numerous manufacturers are producing more lighter, powerful, reliable, durable and inexpensive batteries.
Advanced Battery Market Scope
| Report Highlights | Details |
| Market Size in 2023 | US$ 81.98 Billion |
| Market Size by 2032 | US$ 175.13 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 8.8% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Type, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Pathion Inc., PolyPlus Battery Company Inc., GS Yuasa Corporation, Oxis Energy Ltd, Samsung SDI Co. Ltd., Others |
Report Highlights
- Asia Pacific is slated to flourish to attain noteworthy take in the global advanced batteries market as the prices of advanced batteries are slowly going to decrease
- The growth in the APAC region can be credited to the rising demand from nations such as India, Japan, and China
- North America is projected to expand at a protuberant rate during the estimate period.
- Lithium-Ion Polymer Battery Segment Seized Significant Market Stake in 2020
- Consumer Electronics is Projected to Govern the Advanced Battery Market Revenue
Regional Snapshots
Asia Pacific is expected to display prominent growth prospect on account of economies such as China. The upsurge in battery capacity of China is chiefly done to address the striking demand from the electric vehicle market. Similarly, the local battery suppliers are deliberately intensifying their capacities in proportion with the demand. Furthermore, India is also anticipated to upsurge the local production of lithium-ion batteries. The India lithium-ion battery market is likely to display a vigorous growth throughout the estimate period, amongst augmented acceptance of EVs, renewable and energy storage initiatives. Several new entrants are also proposing innovative products in the market. Such as Green vision Technologies, startup in India, functions under the brand name Relicell and produces sealed, maintenance-free lead-acid batteries for UPS devices and electronic weighing machines. The U.S. based startup named Ateios manufactures ergonomic, ultra-thin printed flexible silver-oxide batteries for wearables.
Technological progressions including printed, flexible, thin-film batteries needed in wearable devices are anticipated to boost the product sale across the North America. Furthermore, research activities attentive on usage of batteries for plug-in EVs are probable to inspire growth in the regional market.
Read Also: Automotive Fuel Injector Market Size Worth US$ 125.18 Bn by 2032
Key Players & Strategies
Industry participants are highlighting R&D operations to produce advanced battery modules and cells that provide improved performance, inferior battery price and longer life than traditional batteries. Major market companies focus on numerous strategic initiatives including their product portfolio diversification in order to improve their footprint in numerous end-use sectors.
For instance, Samsung SDI perceives that government policies are improving sales for energy storage systems. Numerous nations are incorporating main renewable energy investments in their fiscal stimulus programs. With Covid-19 pandemic disheartening people from utilizing public transportation, sales for cylindrical batteries are increasing to power electric scooters and bikes.
Top Players contending in the Market:
- Pathion Inc.
- PolyPlus Battery Company Inc.
- GS Yuasa Corporation
- Oxis Energy Ltd
- Samsung SDI Co. Ltd.
- Others
Recent Market Developments:
- In March 2020, researchers from the Samsung R&D Institute Japan and Samsung Advanced Institute of Technology offered a study on durable and high-performance all-solid-state batteries to Nature Energy, which is one of the top scientific journals. This promising research is anticipated to aid boost the expansion of electric vehicles. Team developed prototype pouch cell which is expected to allow an electric vehicle to travel up to 800km on a single charge
- In January 2019,at the 2019 North American International Auto Show, Samsung SDI offered its next-generation battery technologies, such as roadmap for all-solid-state batteries
- In 2015, PATHION announced innovations in high-energy and safe lithium-ion batteries. PATHION offered novel advancements in solid-state electrolytes that accomplish up to 4 times superior than present lithium-ion technologies with a high level of safety.
Major Market Segments Covered:
By Type
- Sodium Sulfur Battery
- Sodium Metal Halide Battery
- Lithium-Ion Polymer Battery
- Advanced Lead Acid Battery
- Smart Nano Battery
- Others
By Application
- Consumer Electronics
- Automotive Battery
- Energy Storage Systems
- Industrial Battery
By Geography
-
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- United Kingdom
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
- North America
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions& Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Advanced Battery Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
Chapter 5. COVID 19 Impact on Advanced Battery Market
5.1. Covid-19: Advanced Battery Industry Impact
5.2. Advanced Battery Business Impact Assessment: Covid-19
5.2.1. Services Challenges/Disruption
5.2.2. Market Trends and Advanced Battery Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Advanced Battery Market Players to deal with Covid-19 Pandemic Scenario
Chapter 6. Advanced Battery Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Driver 1
6.1.1.2. Driver 2
6.1.2. Market Restraints
6.1.2.1. Restraint 1
6.1.3. Market Opportunities
6.1.3.1. Opportunity 1
6.1.3.2. Opportunity 2
Chapter 7. Global Advanced Battery Market: Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Advanced Battery Market Revenue by Market Players
7.1.1.2. Advanced Battery Market Revenue Market Share by Market Players
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Geographic Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Market Players Landscape
7.1.3.1. List of Product Type Suppliers
7.1.3.2. List of End-users
Chapter 8. Global Advanced Battery Market, By Product Type
8.1. Advanced Battery Market, by Product Type, 2023-2032
8.1.1. Sodium Sulfur Battery
8.1.1.1. Market Revenue and Forecast (2021-2032)
8.1.2. Sodium Metal Halide Battery
8.1.2.1. Market Revenue and Forecast (2021-2032)
8.1.3. Lithium-Ion Polymer Battery
8.1.3.1. Market Revenue and Forecast (2021-2032)
8.1.4. Advanced Lead Acid Battery
8.1.4.1. Market Revenue and Forecast (2021-2032)
8.1.5. Smart Nano Battery
8.1.5.1. Market Revenue and Forecast (2021-2032)
8.1.6. Others
8.1.6.1. Market Revenue and Forecast (2021-2032)
Chapter 9. Global Advanced Battery Market, By Application
9.1. Advanced Battery Market, by Application, 2023-2032
9.1.1. Consumer Electronics
9.1.1.1. Market Revenue and Forecast (2021-2032)
9.1.2. Automotive Battery
9.1.2.1. Market Revenue and Forecast (2021-2032)
9.1.3. Energy Storage Systems
9.1.3.1. Market Revenue and Forecast (2021-2032)
9.1.4. Industrial Battery
9.1.4.1. Market Revenue and Forecast (2021-2032)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2021-2032)
Chapter 10. Global Advanced Battery Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue Forecast by Product Type(2021-2032)
10.1.2. Market Revenue Forecast by Application (2021-2032)
10.1.3. U.S
10.1.3.1. Market Revenue Forecast (2021-2032)
10.1.4. Canada
10.1.4.1. Market Revenue Forecast (2021-2032)
10.2. Europe
10.2.1. Market Revenue Forecast by Product Type(2021-2032)
10.2.2. Market Revenue Forecast by Application (2021-2032)
10.2.3. UK
10.2.3.1. Market Revenue Forecast (2021-2032)
10.2.4. Germany
10.2.4.1. Market Revenue Forecast (2021-2032)
10.2.5. France
10.2.5.1. Market Revenue Forecast (2021-2032)
10.2.6. Rest of EU
10.2.6.1. Market Revenue Forecast (2021-2032)
10.3. Asia Pacific (APAC)
10.3.1. Market Revenue Forecast by Product Type(2021-2032)
10.3.2. Market Revenue Forecast by Application (2021-2032)
10.3.3. China
10.3.3.1. Market Revenue Forecast (2021-2032)
10.3.4. India
10.3.4.1. Market Revenue Forecast (2021-2032)
10.3.5. Japan
10.3.5.1. Market Revenue Forecast (2021-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue Forecast (2021-2032)
10.4. LATAM
10.4.1. Market Revenue Forecast by Product Type(2021-2032)
10.4.2. Market Revenue Forecast by Application (2021-2032)
10.4.3. Brazil
10.4.3.1. Market Revenue Forecast (2021-2032)
10.4.4. Rest of LATAM
10.4.4.1. Market Revenue Forecast (2021-2032)
10.5. Middle East and Africa (MEA)
10.5.1. Market Revenue Forecast by Product Type(2021-2032)
10.5.2. Market Revenue Forecast by Application (2021-2032)
10.5.3. GCC
10.5.3.1. Market Revenue Forecast (2021-2032)
10.5.4. North Africa
10.5.4.1. Market Revenue Forecast (2021-2032)
10.5.5. South Africa
10.5.5.1. Market Revenue Forecast (2021-2032)
10.5.6. Rest of MEA
10.5.6.1. Market Revenue Forecast (2021-2032)
Chapter 11. Company Profiles
11.1. Pathion Inc.
11.1.1. Company Overview, Business Information, Regional Presence
11.1.2. Product Portfolio Analysis
11.1.2.1. Product Details, Specification, Application
11.1.3. Revenue, Price, and Gross Margin
11.1.4. Recent Developments and Strategies
11.2. PolyPlus Battery Company Inc.
11.2.1. Company Overview, Business Information, Regional Presence
11.2.2. Product Portfolio Analysis
11.2.2.1. Product Details, Specification, Application
11.2.3. Revenue, Price, and Gross Margin
11.2.4. Recent Developments and Strategies
11.3. GS Yuasa Corporation
11.3.1. Company Overview, Business Information, Regional Presence
11.3.2. Product Portfolio Analysis
11.3.2.1. Product Details, Specification, Application
11.3.3. Revenue, Price, and Gross Margin
11.3.4. Recent Developments and Strategies
11.4. Oxis Energy Ltd
11.4.1. Company Overview, Business Information, Regional Presence
11.4.2. Product Portfolio Analysis
11.4.2.1. Product Details, Specification, Application
11.4.3. Revenue, Price, and Gross Margin
11.4.4. Recent Developments and Strategies
11.5. Samsung SDI Co. Ltd.
11.5.1. Company Overview, Business Information, Regional Presence
11.5.2. Product Portfolio Analysis
11.5.2.1. Product Details, Specification, Application
11.5.3. Revenue, Price, and Gross Margin
11.5.4. Recent Developments and Strategies
11.6. Company 6
11.6.1. Company Overview, Business Information, Regional Presence
11.6.2. Product Portfolio Analysis
11.6.2.1. Product Details, Specification, Application
11.6.3. Revenue, Price, and Gross Margin
11.6.4. Recent Developments and Strategies
11.7. Company 7
11.7.1. Company Overview, Business Information, Regional Presence
11.7.2. Product Portfolio Analysis
11.7.2.1. Product Details, Specification, Application
11.7.3. Revenue, Price, and Gross Margin
11.7.4. Recent Developments and Strategies
11.8. Company 8
11.8.1. Company Overview, Business Information, Regional Presence
11.8.2. Product Portfolio Analysis
11.8.2.1. Product Details, Specification, Application
11.8.3. Revenue, Price, and Gross Margin
11.8.4. Recent Developments and Strategies
11.9. Company 9
11.9.1. Company Overview, Business Information, Regional Presence
11.9.2. Product Portfolio Analysis
11.9.2.1. Product Details, Specification, Application
11.9.3. Revenue, Price, and Gross Margin
11.9.4. Recent Developments and Strategies
11.10. Company 10
11.10.1. Company Overview, Business Information, Regional Presence
11.10.2. Product Portfolio Analysis
11.10.2.1. Product Details, Specification, Application
11.10.3. Revenue, Price, and Gross Margin
11.10.4. Recent Developments and Strategies
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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