The global battery technology market is likely to secure a valuation of US$ 113.5 billion in 2024, with a CAGR of 8.2% during the forecast period. The global market is expected to surpass US$ 250 billion by 2034.
“Rising wireless devices in transportation and healthcare are crucial in boosting the global market. Technology-based companies are researching ambient energy harvesting and sensing solutions for wireless devices. These breakthroughs in wearable and touchable devices will change the face of battery technology,” – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
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Key Takeaways:
- The battery technology market is registering a CAGR of 8.2% between 2024 and 2034.
- The United States is expected to register a CAGR of 8.3% by dominating the global market by 2034.
- Japan is anticipated to capture a CAGR of 3.1% of the global market during the forecast period.
- South Korea is anticipated to register a CAGR of 8.4% in the global market by 2034.
- China significantly drives the global market with a CAGR of 8.5%.
- With a CAGR of 8.7%, the United Kingdom is rapidly advancing globally.
- The automotive category is estimated to lead the global market during the forecast period.
Competitive Landscape
Due to growing consumer demand, key players are adopting various marketing methodologies to bring new product launches. These key players are creating realistic touch sensations that can monitor vibration and motions. Moreover, manufacturers offer a wide range of products integrating innovative battery technology with non-invasive sensors. They are developing sustainable and recyclable products to reduce carbon emissions.
Key Players in the Battery Technology Market
- Exide Corp.
- Hitachi Limited
- SAMSUNG SDI CO. LTD
- Sony Corp
- Google Inc
- General Electric Co.
- Honda Inc.
- Honeywell Batteries
- China Bak Battery, Inc
- Fujitsu Ltd
- American Battery Charging Inc
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Key Segments Covered in Battery Technology Market
By Battery Type:
- Lead Acid
- Lithium-ion
- Nickle Cadmium
- Nickle Metal Hydride
- Others
By Application:
- Automotive Industry
- Consumer Electronics
- Power Industry
- Defense & Aviation
- Residential & Commercial Industry
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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