Global rechargeable
battery market is anticipated to witness an exponential
growth in the forecast period. A rechargeable battery implies a type of battery
that could be recharged repeatedly by putting its terminals along DC, after the
battery being drained out. Rechargeable batteries offer numerous procedures
from its cell and a well long-term investment in terms of money spent on
devices, which could be recharged.
The factors that propel the growth of the
market include increasing demand for portable devices and consumer devices such
as digital cameras, music players, portable computing devices, camera phones,
rising demand for bio-based and automobile vehicles, increasing consciousness
regarding battery-enabled consumer devices, growing per capita income, and
continuous development efforts and high-performance batteries. On the other hand,
there are factors that may hamper the growth of the market including high cost
and heap alternates of rechargeable batteries.
Rechargeable battery market is anticipated to
expand at a significant CAGR of 8.32% in the upcoming period as the scope, product
types, and its applications are increasing across the globe. The declining
Li-on battery prices is an emerging trend in the market. Due to the decrease in
the demand for other batteries, the Li-ion battery market is observing
fast-paced development. The main difference between Li-ion batteries and other
battery technology such as fuel cell batteries is the pricing.
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Market could be explored by type,
capacity, application, and geography. Market could be explored by type as
Lead-acid battery and Lithium-ion (LiOn) and Others. The “Lead-acid battery”
segment led the rechargeable battery market in 2017 and will continue to lead
in the forecast period. The key factor that may be attributed to the growth of
the market includes an increase in demand.
Based on capacity, market could span
150 - 1000 mAh, 1300 - 2700 mAh, 3000 - 4000 mAh, 4000 - 6000 mAh, 6000 - 10000
mAh and More than 10000 mAh. The key applications that could be explored in the
rechargeable battery market include Laptops, Consumer Devices, Mobiles,
Speakers, Music Players, Digital Camera, Power Banks (Portable charger) and
Others. Automobile (Two wheelers and Four wheelers).
APAC accounted for the major share of
the market in 2017 and will continue to lead in the forecast period. The
factors that could be attributed to the growth include rapid growth rate and
hold moderately large market share, and growing usage and manufacturing of
consumer devices such as digital camera, smartphones, speakers, notepads,
laptops, etc. in China, and Asia-Pacific region. Asia-Pacific is followed by
European and North American region.
Some of the key players that fuel the
growth of the rechargeable battery market comprise Energizer, Duracell Inc.,
Godrej.com, SONY CORPORATION OF AMERICA, SPECTRUM BRANDS, INC.,
MikroElektronika d.o.o., Optimum Nano Energy Co., Ltd, GPB International
Limited, BREN-TRONICS, INC., Camelion Batteries GmbH, Panasonic Corporation,
SAMSUNG, Illinois Capacitor, and Fedco Batteries, etc. The leading companies
are taking up partnerships, mergers and acquisitions, and joint ventures in
order to boost the inorganic growth of the industry.
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