The global market for eco-friendly batteries should grow from $17.6 billion in 2019 to $34.3 billion by 2024 at a compound annual growth rate (CAGR) of 14.3% for the period of 2019-2024.
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This report reviews both the global and regional markets of ecofriendly, sustainable batteries across different end use industries. The report analyzes the current market status and trends and provides growth forecasts for the five-year period 2019 to 2024. BCC Research analyzes various battery chemistries, identifies major players and explores global regulatory scenarios and commercialization initiatives. Additionally, the report examines technology developers and manufacturers of advanced sustainable batteries, their products and technologies and the geographical product presence wherever data is available.
The global eco-friendly sustainable battery market is analyzed based on the following application industries –
– Electric vehicles.
– Consumer electronics.
Further, the global eco-friendly sustainable battery market has been studied based on the following major markets –
– North America (N.A.).
– The United States (U.S).
– European Union (EU).
– United Kingdom (U.K.).
– Asia-Pacific (APAC).
– Rest of the World (ROW).
– United Arab Emirates (U.A.E.).
The report offers a detailed patent analysis with information on the strategic initiatives of market players within the past five years.
Estimated values used are based on manufacturers’ total revenues. Projected and forecast revenue values are in U.S. dollars, unadjusted for inflation.
BCC Research found all lead acid batteries to be environmentally unsafe, thus they are not considered in market sizing. Traditional lithium ion batteries are also not considered eco-friendly sustainable batteries.
The report only accounts for secondary or rechargeable batteries. The report does not consider the heavy-duty electric vehicle battery market in determining the market size.
– 42 tables
– A brief overview of the global market for eco-friendly sustainable batteries
– Analyses of global market trends with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024
– Characterization and quantification of market potential for eco-friendly sustainable batteries by battery types, components, technology types, applications and geographical regions
– Discussion of opportunities and challenges with respect to eco-friendly sustainable batteries, components and end-user industries
– Information on government regulations, environmental concerns, current trends and technological updates that can shape future marketplace in this ever-expanding market
– Patent analysis covering all major categories
– Comprehensive company profiles of major market players, including A123 Systems LLC, Itochu Corp., LG Chem, Mitsubishi Corp. (MC) and Panasonic Corp.
The market value of eco-friendly sustainable batteries reached REDACTED in 2018. The market value is projected to reach REDACTED in 2019 and then to grow by REDACTED CAGR to nearly REDACTED in 2024. Electric vehicles (EVs) accounted for REDACTED (REDACTED) of the total market value in 2018 and are projected to approach REDACTED (REDACTED) of the total ecofriendly sustainable battery market in 2024 with a projected CAGR of REDACTED between 2019 and 2024.
The consumer electronics industry represented the second largest market for eco-friendly sustainable batteries in 2018 with a value of REDACTED (REDACTED). The market is projected to reach REDACTED by 2024 with a moderate CAGR of REDACTED.
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Utility industry accounted for a relatively small REDACTED (REDACTED) of the total ecofriendly sustainable battery market in 2018. However, this application segment is expected to experience the highest CAGR (REDACTED) among all markets between 2019 and 2024 and will reach a market size of REDACTED (REDACTED)by the end of 2024.
The value of the market will increase at a slower rate than the volume of the market because of the overall price reduction of battery technologies over time.