Secondary Battery Market

Global Secondary Battery Market 2022-2027 | Share, Size and Forecast

Market Overview 2022-2027:

The latest research study “Secondary Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global secondary battery market reached a value of US$ 95.47 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 174.36 Billion by 2027, exhibiting a CAGR of 10.30% during 2022-2027.

Request a PDF Sample Copy for more detailed market insights:

Industry Definition and Application:

Secondary batteries are rechargeable batteries or accumulators that store chemical energy and transform it into electricity, depending on the requirement. They are embedded with electrodes made of lead grids, wherein the cathodic grid contains lead dioxide, and the anodic grid is filled with porous lead. They offer affordability, prolonged life, superior retention property, high energy density, moldability, durability, and volatility. As a result, secondary batteries are widely used to power electronic devices, cellular phones, and hybrid electric vehicles (HEVs).

What are the major market drivers in the secondary battery market?

The global secondary battery market is primarily driven by the surging adoption of portable devices. Additionally, the rising use of laptops and smartphones due to rapid digitization and inflating consumer disposable incomes is positively influencing the market growth. Moreover, numerous technological advancements in manufacturing secondary batteries and the introduction of new and advanced battery chemistries are other major growth-inducing factors. Besides this, there has been a significant rise in the manufacturing and sale of electric vehicles (EVs) due to growing environmental concerns among individuals.

In line with this, the surging public and private investments in promoting renewable energy sources have augmented product demand. Furthermore, the rising adoption of secondary batteries in power tools, medical devices, aviation, and industrial applications owing to their ultra-fast charging with minimal stress and high specific energy has catalyzed the market growth. Other factors, including continuous product innovations, the introduction of hybrid batteries, ongoing research and development (R&D) activities, and rapid urbanization, are also anticipated to drive the market further. 

Click here to view detailed information with table of content:

Secondary Battery Market Report Scope
Report CoverageDetails
Market size value in 2021US$ 95.47 Billion
Market forecast in 2027US$ 174.36 Billion
Growth RateCAGR of 10.30% from 2022 to 2027
Base year for estimation2021
Historical data2016-2021
Forecast period2022-2027
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredType, Application, Industry Vertical and Region
Regional scopeNorth America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Key companies profiledAmperex Technology Limited (TDK Corporation), Byd Company Limited, Duracell Inc. (Berkshire Hathaway Inc.), Energizer Holdings Inc., EnerSys, LG Chem Ltd., Panasonic Corporation, Saft (TotalEnergies SE), Samsung SDI Co. Ltd., Showa Denko K. K., Sony Group Corporation and Tianjin Lishen Battery Joint-Stock Co. Ltd.
Market DynamicsParent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization previewIf our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Report Segmentation:

The report has segmented the market on the basis of region, type, application and industry vertical.

Breakup by Type:

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

Breakup by Application:

  • Electronics
  • Motor Vehicles
  • Industrial Batteries
  • Portables Devices
  • Others

Breakup by Industry Vertical:

  • Chemical and Petrochemical
  • Oil and Gas
  • Energy and Power
  • Automotive
  • Others

Breakup By Geography:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

List of Major Key Players:

The major players in the market are Amperex Technology Limited (TDK Corporation), Byd Company Limited, Duracell Inc. (Berkshire Hathaway Inc.), Energizer Holdings Inc., EnerSys, LG Chem Ltd., Panasonic Corporation, Saft (TotalEnergies SE), Samsung SDI Co. Ltd., Showa Denko K. K., Sony Group Corporation and Tianjin Lishen Battery Joint-Stock Co. Ltd.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

IMARC Services Private Limited.
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Leave a Reply

Your email address will not be published. Required fields are marked *