Corona Impact: Is Battery Market will Propel with its Advanced Approaches in 2020

The outbreak of COVID-19 has marginal impact on the battery market. The sustainability of this market is majorly attributed to the utilization of batteries across all the industries. Though the industries are shut down in order to curb the effect of the pandemic, only the manufacturing of batteries has been hampered. The demand for the product will be eventually restored after the pandemic. For instance, in March 2020, Samsung announced to shut down its EV Battery manufacturing plant in US due to covid-19. The company took this strategic decision to maintain social distancing among its employees and to reduce infections. In addition, in April 2020, Exide Technologies, one of the prominent players in the battery market announced pay cut of 15-20% for financial planning. By the implementation of such strategies, the companies are preparing for after-pandemic effect. During this unprecedented situation, we are helping our clients in understanding the impact of COVID19 on the Global Battery.

[ What will the sample contain?
The sample will give the stakeholder an outline of the report. It will give an overview/framework of the aspects of the market that have been covered in the content of the actual report. The report, unlike the sample, will bear numerical data and market insights associated with a price. ]

As per a new report published by Research Dive, the global battery market is set to generate revenue of $21,072.6 million by 2026, at a CAGR of 4.3% during the forecast period.

The segmentation of the market has been done on the basis of type, application, and region. The report provides in-depth insights on drivers, vital segments, opportunities, restraints, and key players of the market. As per our analyst estimates, low operating & maintenance costs are significant factors accelerating the growth of the battery market. However, higher acquisition cost of micro turbine engines is obstructing the growth of global battery market.

Lead Acid to Register Significant Market Share During 2020-27

Based on type, the global market for battery is segmented into lead acid, lithium ion, nickel metal hydride, nickel cadmium, and others. The lithium ion market accounted for $6216.4 million revenue in 2026 and is expected to grow at 5.0%, during the forecast period. The growth of lead acid segment is prominently driven by exponential growth of the electric vehicle market.

On the basis of application, the global market is segmented into automotive, industrial, and portable. The market size for automotive segment accounted for $8,681.9 million in 2026 and is all set to rise at a CAGR of 4.7% during the period of forecast. Increasing adoption of batteries for automotives is significantly expected to drive the automotive application segment growth.

Geographical Analysis and Major Market Players

On the basis of region, the global for battery market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific Battery market for accounted for $8,260.5 million in 2026 and is expected to rise at 4.0% CAGR throughout the forecast period. The developing automobile sectors and heavy investments by international market players are expected to offer attractive environment for the Asia Pacific market growth.

The major players of the global battery market include Exide Technologies, Johnson Controls, Robert Bosch GmbH, TOSHIBA CORPORATION, GS Yuasa International Ltd., LG Chem., Delphi Technologies, Tesla, Saft, and Panasonic Corporation.

Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York
NY 10005 (P)
+ 91 (788) 802-9103 (India)
+1 (917) 444-1262 (US)
Toll Free : +1 -888-961-4454
Email: support@researchdive.com
LinkedIn: https://www.linkedin.com/company/research-dive
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive
Blog: https://www.researchdive.com/blog
Follow us on: https://covid-19-market-insights.blogspot.com

Growth Outlook: Healthcare Gamification Market Expand their Businesses with New Investments

Download FREE Sample The healthcare gamification market share is predicted to grow at a CAGR of 11.9% by generating a revenue of $47,281.5 Million by 2026. Gamification includes applying the techniques used in game, mechanics of game, and game style in non-gaming applications to engage the audience and make the dull task into more fun and engaging. Basically it is an application of elements in video games, which helps to solve the everyday problem and enables the user to change the behavior, develop skills and enable innovation in health care. The goal of the gamification is to change the behavior of the patient. The increase in the wearables and health & wellness app with gamification is the strong sign that the people are liking it. The increase in the usage of digitalization and the technology adoption are expected to drive the healthcare gamification market. Many companies are using the digital platform for the people to check their health data. For...

COVID-19 Impact: What Challenges Hand Sanitizer Market May See In Next 5 Years?

Inquire Here Before Purchase and Get FREE Sample The communal transmission of COVID-19 has created a significant impact on the hand sanitizer market growth, throughout the projected timeframe. The growth of the global hand sanitizer market is mainly driven by the rising concern about personal safety among the customers. Furthermore, the extensively growing prevalence of viral disorders globally is also creating a huge demand for hand sanitizers, in the review period. Though the businesses across the globe have strictly imposed lockdown in order to reduce the impact of the pandemic spread, the global hand sanitizer industry has shown exponential growth. The ventures involved with hand sanitizer production are adopting numerous strategic steps like product & technology advancements, strategic tie-ups. For example, in June 2020, Procter & Gamble (P&G), has made an announcement to launch of newly invented ‘safeguard sanitizer’. In addition, the enterpris...

What are the Left Atrial Appendage Closure Devices Market Key Insights and COVID-19 Business Impact?

Download FREE Sample Connect with Analyst The COVID-19 outbreak has significantly affected the global left atrial appendage closure devices market. As per American Heart Association, people having high blood pressure, heart valve disease and congenital heart diseases are expected to develop severe coronavirus symptoms. Also, this virus can generate heart strokes through weakening of muscles of the heart. These fators will boost the demand for left atrial appendage closure divices and surge the market growth during the pandemic. Furthermore, the leading manufactures in the global market are adopting various strategies such as product innovations and partnerships to increase their market share in the overall industry. For example, in July 2020, Boston Scientific Corporation announced that the “Watchman FLX left atrial appendage closure device” has been approved by U.S. Food and Drug Administration, which is used to minimize the threat of heart stroke in patients. The stroke r...

MyTrade-Insights

Search This Blog