Advanced batteries have lower emissions and quite longer lifespan can readily be installed in a power grid in order to store energy and electricity. Hence advanced battery systems helps in reducing the total expenses of electricity and thus helps in reducing the overall emissions of toxic greenhouse gases. Arrival of enhanced batteries which have next generation features in them including improved safety efficiency and lower costs have helped a lot to the large scale energy storage especially for the distribution of electric network. In addition to this advanced batteries have features such as rechargeable poly lithium ion batteries and thus they find a wide number of applications in automotive and electric industries coupled with laptops smartphones tablets and other electrical devices and products.
Increasing evidence of carbon emissions especially from vehicles and other automobiles as well as less abundance of fuel are some of the key elements augmenting the demand for electric vehicles around the world. Thus rising demand for electric vehicles majorly in developing and developed countries is one of the major aspects fueling the growth of the global advanced battery market and is anticipated to drive the overall market throughout the forecast period. In addition to this increasing as well as ongoing developments especially in terms of technology in the chemistry of battery is one other major element driving the growth of the global advanced battery market and is further projected to drive the market over the forecast period. Also rapidly increasing market of laptops and mobile phones is also one of the major factors driving the demand for advanced batteries thus fuelling the overall growth of the global advanced battery market. Moreover raising the awareness for the use of efficient energy and efficient batteries majorly in developed economies such as U.S. and other European countries is further anticipated to propel the growth of the global advanced battery market over the forecast period. Moreover increasing number of initiatives by various organizations and governments including subsidies and tax rebates especially on the adoption various advanced batteries is expected to show positive aspects of growth on the global advanced battery market.
The global advanced battery market can be bifurcated based on application type and region. By type the global advanced battery market can be bifurcated into lithium ion polymer battery lithium ion battery nickel based battery nickel cadmium battery others and nickel metal hydride battery. Based on application the global advanced battery market can be bifurcated into laptops smartphones and tablets others and consumer electronics. Based on region the global advanced battery market can be bifurcated into North America Latin America Europe Middle East & Africa and Asia Pacific The robust demand especially in the Asia Pacific region is predictable to be one of the main driving factors for the overall growth of the global market. Furthermore China is further projected to account for the highest share in the global market and is expected to maintain its lead in the overall demand during the forecast period. This can be attributed to rapid industrialization and increasing urbanization during the past few years. The markets in various other developing economies such as Russia Brazil Poland New Zealand Indonesia India Argentina and Korea among others are also expected to witness a rapid growth throughout the forecast period. In addition to this increasing per capita disposable income and surge in the global economy is another key factor which is expected to bring impetus in the growth of the global.
Key players operating in the global market are focusing on some of the major market strategies Such as partnerships mergers collaborations and acquisitions in order to keep hold in the ever competitive global market .Moreover they are focusing on rising hold on the local players to strengthen their goodwill as well as to enhance their market reach in the global market. Key players involved in the manufacture and supply of advanced batteries include GS Yuasa Corporation China BACK Battery Honda Hitachi Maxwell LG Chem Sony Corporation Ener Del Panasonic Corporation Kodak Siemens and others.
The global advanced battery market can be bifurcated:
• Smartphones tablets
• Consumer electronics
• Lithium ion polymer battery
• Lithium ion battery
• Nickel based battery
• Nickel cadmium battery
• Nickel metal hydride battery
• North america
• Latin america
• Middle east & africa
• Asia pacific
The Leading Key Players in Advanced Batteries Market
GS Yuasa Corporation China BACK Battery Honda Hitachi Maxwell LG Chem Sony Corporation Ener Del Panasonic Corporation Kodak Siemens