With increasing global warming and consequent rise in government regulations, the demand for clean energy is increasing. Clean energy refers to energy generated from natural sources such as sunlight, wind and others. Renewable energy systems process energy from natural sources into usable forms and store in batteries for use at a later point of time. The batteries used in renewable energy systems include lead acid batteries, lithium-ion batteries and others. Lithium-ion batteries are the most common type of batteries used in electric vehicles. For example, the electric car manufacturers Tesla and Nissan use lithium-ion batteries to power electric motors.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL BATTERIES MANUFACTURING MARKET TO GROW TO $219 BILLION BY 2021
Asia Pacific was the largest region in the batteries manufacturing market in 2017, accounting for four-fifth of the market share. This was mainly due to high demand for batteries from automobile industries and commercial establishments in the region.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, with the rising awareness on eco-friendly technologies and increasing environmental regulations, the demand for AGM batteries is increasing. AGM batteries is a class of lead acid is a lead acid deep cycle battery, wherein electrolyte is absorbed into a fiberglass mat. They can handle high temperatures and self-discharge more quickly, they provide consistent power output and extended battery life. These batteries contain a glass mat separator that provides a consistent power output and extended battery life. AGM batteries are used in start-stop vehicles that shut off engine when the car is stationary and restarts it when driver’s foot is taken off the pedal, thereby saving fuel. AGM batteries improves fuel economy up to 5 percent, thus leading to high demand for AGM batteries.
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Panasonic Corporation was the largest player in the global batteries manufacturing market in 2017, with revenues of $21.3 billion in 2016. Panasonic’s growth strategy is to increase investments to enhance automotive batteries capacities in the USA owing to growing demand for batteries from electric vehicle manufacturers.
The batteries industry comprises establishments include companies manufacturing storage and primary batteries. A battery is a device consisting of one or more electrochemical cells that produce electric current. Each cell produces electric current from the chemical reaction between the electrolyte and the terminals.
Batteries Manufacturing Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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