Battery Market Supply Chain Analysis, and Porter’s Five Force Analysis 2018
Posted: Jun 18, 2018
Global Battery Market is well-established and ever-increasing space. Thanks to the growing demand for the batteries with extra power and capacity, from some of the burgeoning sectors such as Telecom, Automotive, Industrial, and electronics among others. The proliferation of smart devices like Smart Phone and other battery operated devices have boosted the growth of the battery market.
Market Research Future (MRFR) in its recently published study report mentions that the global Battery market will perceive a moderate growth registering 4% CAGR during the forecast period 2018-2023. Augmenting demand for wearable & smart devices and other consumer electronic gadgets is a key factor fostering the market growth, globally.
Significant investments made by the battery manufacturers in the field of R&D are paying off well, driving the market growth. Burgeoning automotive industry accounting for the largest consumer of the batteries; provides exponential impetus to the market growth. Besides, market penetration of Electric Vehicles (EV) is ensuring a promising growth for the Battery market.
Industry Top Key Players:-
The leading players in the battery market are Exide Technologies (U.S.), Douglas Battery (U.S.), Penn Manufacturing Company, Inc.(U.S.), Johnson Controls Inc(U.S.), The Furukawa Battery Co. ltd (Japan), Zhejiang Haijiu Battery Co. Ltd (China), Chaowei Power Holding ltd (China), CamelGroup (Italy) and Fengfan Co. Ltd.(China)
Global Battery Market – Competitive Analysis
Space, characterized by the presence of some well-established players appears to be highly competitive. Well established players incorporate collaboration, acquisition, partnership, technology launch, and expansion.
Industry/ Innovation/ Related News:
June 01, 2018 – Panasonic Corporation (Japan), one of the global leader engaged in the development, manufacture, and sale of electrical products announced plans to double its battery sales by 2021 to remain competitive with the Chinese battery makers by leveraging its established ties with Toyota Motor, Tesla, and other automakers.
MAY 31, 2018 – Voltaiq (US), a Battery Intelligence Firm announced that it had raised USD 6.6 Million from UL’s Venture Arm, Anzu Partners, and SJF Ventures. A little-known battery performance testing startup, Voltaiq is already mentioned in the list of the industry leaders in advanced battery analytics solutions for the grid storage, electric vehicle and consumer electronics market segments.
Global Battery Market – Segments
Global Battery Market – Geographical Analysis
Globally, Asia Pacific accounts for the largest Battery market attributing to the burgeoning industrialization & automobile market in the region. Backed by the huge demand from the constantly growing automotive industry, countries such as India, China, Indonesia & Japan account for the major growth contributors of the regional market.
Growing urbanization, the ever-increasing population along with the improving economic conditions in the region drive the demand for luxury items such as automobiles, consumer electronics, and electric vehicles, in turn, foster the growth of the regional battery market. Also, considerably growing demand for the product in different industrial sectors, promote the growth of the APAC market.
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