Global Rechargeable Battery Market to Grow at a CAGR of 6.8% During 2024-2032, Aided by the Rising Demand for Electronic Devices

The li-ion batteries constitute the majority of the global rechargeable battery industry and is expected to account for about 70% of the total market share by 2026. The Asia Pacific region is an important market for rechargeable battery and is aided by the surging demand for electronic devices, like smartphones and laptops in the region. The market is further finding impetus by the rising concerns associated with sustainability and eco-friendliness as key players are now taking the initiative to incorporate environment-friendly measures in their working process.

Samsung SDI Co. (SSDIY: OTC US), based in South Korea, is a significant key player in the rechargeable battery industry. In January 2018, the company announced its brand new fast-charging, high-capacity battery material, along with cutting-edge battery products for electric vehicles. This launch is expected help popularise EVs as well as facilitate its design flexibility with customised products, further accelerating the demand for rechargeable batteries worldwide.

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Market Analysis by Battery Type, Capacity, Application, and Region:

• The rechargeable battery industry, on the basis of battery type, is divided into lead-acid, li-ion, NiMH, and NiCd, among others.

• By capacity, the industry is segmented into 150 - 1000 mAh, 1300 - 2700 mAh, 3000 - 4000 mAh, 4000 - 6000 mAh, 6000 - 10000 mAh, and more than 10000 mAh, among others.

• Based on application, the industry is categorised into consumer electronics, industrial applications, automobile applications, and defence, and others.

• Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for rechargeable battery is being driven by the increasing demand for portable electronic devices worldwide.

• The rising demand for products, such as smartphones, laptops, and tablets, as well as many wearable and related smart devices is aiding the market growth. These digital devices are now seen commonly being used due to their growing popularity.

• Increasing disposable incomes and changing lifestyles are enhancing the market growth.

• The market is further enhanced by the technological advancements in the industry.

• The product has significantly less impact on global warming as opposed to its counterparts. Thereby, bolstering its demand.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for rechargeable battery for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) market for the battery types, capacities, applications, and regional markets for rechargeable battery.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

East Penn Manufacturing Company, EnerSys Advanced Systems Inc., Exide Industries Ltd, LG Chem, Saft Groupe SA, and Samsung SDI Co., Ltd, among others, are the key players in the global rechargeable battery market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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