Email
Password
Remember meForgot password?
    Log in with Twitter
| Press Release

Global Secondary Batteries Markets to 2030 - Increasingly Being Used in Hybrid Vehicles, Driving Growth

Dublin, April 01, 2020 (GLOBE NEWSWIRE) -- The "Secondary Batteries Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

The global secondary batteries market was worth $57.77 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 12.3% and reach $91.88 billion by 2023. Asia-Pacific was the largest region in the secondary batteries market in 2019.

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider secondary batteries market, and compares it with other markets.

Increasing demand for electric vehicles will positively impact the secondary batteries market. Secondary batteries are increasingly being used in hybrid vehicles. The wide temperature ranges between -30C to +75C and the rapid charging capacity of Nickel Metal Hybride (NiMH) batteries are ideal for the automotive sector. NiMH batteries can handle the high power levels which are essential for electric vehicles. According to Bloomberg New Energy Finance (BNEF) report, electric vehicle sales are expected to reach 540 million by 2040, which is around 32% of the world's passenger vehicles. Therefore, the increasing demand for electric vehicles will drive the secondary batteries market's growth.

Recent developments in NiMH battery manufacturing has improved the lifespan of nickel-metal hydride batteries. The electro positivity of the A-elements makes them easy to be corroded in the alkaline electrolyte used in NiMH batteries. A thin protective layer is used on alloy particles to improve reaction kinetics and corrosion stability of conventional NiMH batteries. In December 2018, Researchers at Stockholm University, a Swedish public university, have developed metal hydride surface structures for NiMH batteries to extend cycle life.

In January 2020, German battery manufacturer, VARTA AG acquired the US based Energizer Holdings, Inc.'s subsidiary, VARTA Consumer Batteries for $401 million. The acquisition will likely strengthen VARTA AG's battery business and expand its product portfolio. VARTA Consumer Batteries manufactures and markets dry and primary batteries globally. The company was founded in 2002 and is headquartered in Ellwangen, Germany.

Stringent government regulations for the secondary batteries manufacturing hindering the growth of the secondary batteries market. The battery manufacturing process generates wastewater and releases pollutants such as cadmium, cobalt, copper, cyanide, iron, lead, manganese, mercury, nickel and zinc. The manufacturers are usually advised, unless mandated to reduce the amount of hazardous substances released in the environment. For instance, The USA Environmental Protection Agency (EPA) formulated the battery manufacturing effluent guidelines and standards to regulate such pollutants. Therefore, stringent government regulations hinder the secondary batteries market's growth.

Major players in the market are BYD Company Ltd., Samsung SDI Co. Ltd., LG Chem Co. Ltd., Johnson Controls, Amperex Technologies Ltd., Energizer Holdings, Inc., Panasonic Corporation, Aquion Energy, Battery Technology Inc., and Beckett Energy Systems.

Key Topics Covered

1. Executive Summary

2. Secondary Batteries Market Characteristics

3. Secondary Batteries Market Size and Growth
3.1. Global Secondary Batteries Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Secondary Batteries Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market

4. Secondary Batteries Market Segmentation
4.1. Global Secondary Batteries Market, Segmentation by Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

  • Lead Acid
  • Lithium-Ion (Li-Ion)
  • Nickel Metal Hydride
  • Others

4.2. Global Secondary Batteries Market, Segmentation by Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

  • Electronics
  • Motor Vehicles
  • Portable Devices
  • Others

5. Secondary Batteries Market Regional and Country Analysis

Companies Mentioned

  • BYD Company Ltd.
  • Amperex Technologies Ltd.
  • Aquion Energy
  • Battery Technology Inc.
  • Beckett Energy Systems
  • Duracell Inc.
  • E-One Moli Energy Corp.
  • EaglePicher Technologies, LLC
  • Electrochem Automation Inc.
  • Energizer Holdings, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/naktlh

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: ResearchAndMarkets.com
         Laura Wood, Senior Press Manager
         press@researchandmarkets.com
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900

Primary Logo

Latest News
Top News