Industry Background:
Rechargeable batteries are the type of electronic batteries that can be charged as well as discharged again and again. These batteries are made by the composite of electrochemical cells, they also accumulate and store the energy by a reverse electrochemical process. Rechargeable batteries can be produced in a different combination, size, and shapes. These are mostly better alternatives to disposable batteries, as they are cost-efficient in the long terms. The markets for rechargeable batteries are gaining energy due to increasing demand from the automotive industry, consumer durables, and electronics industry, among others.
This growth is primarily driven by Increasing Demand from Consumer Electronics Globally, Rising Demand for Rechargeable Batteries from Various Aspects of the Market and A Rise in Demand for Automotive Industries in Rechargeable Batteries Market.
Globally, a noticeable market trend is evident Adoption of Water-Based Batteries
. Major Vendors, such as Battery Technology Inc. (United States), Beckett Energy Systems (United States), BYD Company Ltd. (China), Duracell Inc. (United States), EaglePicher Technologies, LLC (United States), Energizer Holdings, Inc. (United States), E-One Moli Energy Corp. (Taiwan), Eveready Industries India Ltd. (India), FDK Corporation (Japan) and GPB International Limited (Hong Kong) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July 2018, BYD Company signed a strategic cooperation agreement with Changan Automobile to jointly manufacture batteries for electric vehicles. The groundbreaking agreement will see both companies collaborate in the production and sale of these batteries through a new legal entity based in Chongqing
In March 2018, Samsung SDI introduced its new ESS product, a high-capacity 111Ah (Ampere hour) ESS battery cell, in which the energy density is substantially increased as compared to other batteries cells
Regulatory Insights:
According to U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA), some lithium battery Interim Final Rule (IFR) was made in order to use or transport lithium batteries and they included Limiting lithium-ion cells and batteries to 30% state of charge (SOC). This SOC limit does not apply to cells and batteries packed with or contained in equipment, Prohibiting lithium-ion cells and batteries as cargo on passenger aircraft. Again, this prohibition does not apply to cells and batteries packed with or contained in equipment. In addition, PHMSA is providing a limited exception from this prohibition for lithium ion and lithium metal cells and batteries designed to power medical devices and limiting the use of excepted lithium ion and lithium metal cell and battery shipments to one package per consignment.
Market Drivers
- Increasing Demand from Consumer Electronics Globally
- Rising Demand for Rechargeable Batteries from Various Aspects of the Market
- A Rise in Demand for Automotive Industries in Rechargeable Batteries Market
Market Trend
- Adoption of Water-Based Batteries
- Decreasing Li-on Battery Prices
Restraints
- Availability of Alternatives in the Market
- High Cost of Rechargeable Batteries
Opportunities
Growing Advancement in Technology Such as 3D Printed Lithium-Ion Cells and R&D On New Rechargeable Battery Platforms
Challenges
Overheating of Lithium-Ion Batteries and Increasing Competition from Fuel Cell Solutions
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Rechargeable Batteries Study Sheds Light on
The Rechargeable Batteries Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Rechargeable Batteries industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Rechargeable Batteries industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.