Secondary Battery Market Forecast to 2027 - COVID-19 Impact and Global Analysis

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Nov 25, 2020, 09:15 ET

DUBLIN, Nov. 25, 2020 /PRNewswire/ -- The "Secondary Battery Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology; Application" report has been added to ResearchAndMarkets.com's offering.

According to this report the market was valued at US$ 52,884.4 million in 2019 and is projected to reach US$ 85,395.25 million by 2027; it is expected to grow at a CAGR of 8.50% from 2020 to 2027. The report highlights key factors driving the market growth, and prominent players with their developments in the market.

The secondary battery market is broadly segmented into five major regions-North America, Europe, APAC, MEA, and SAM. Presently, APAC held the largest share of the global secondary battery market owing to the rising adoption of lithium-ion batteries in consumer electronics, energy storage systems, medical & healthcare, and EVs. In 2019, the region contributed 38% revenue share to the overall secondary battery market. In terms of market share, Europe and North America held the second and third positions in 2019. At present, numerous initiatives have been taken place by the governments of developing countries and developed economies to adopt sustainable transportation. The market for a secondary battery is fragmented with the presence of leading as well as well-established players across the globe. Businesses are constantly investing and advancing to ramp-up economical and energy-efficient battery technology in the market. Additionally, the high adoption rate of secondary batteries in smart electronics devices in healthcare and medical is also boosting the growth of the market.

The increasing adoption of consumer electronics devices across the globe owing to the transition of replacing the lead-acid batteries with lithium-ion batteries to save space and rising investment in EVs are some of the key factors that are expected to fuel the demand for a secondary battery in all the key geographies over the forecast period of 2020 to 2027. Europe is also an important market for the future growth of the secondary battery market during the forecast period due to the rapidly growing number of companies investing in EVs. The region is characterized by well-developed nations such as Germany, the UK, and France, which are the key markets for the adoption and growth of secondary battery.

In terms of growth, APAC is anticipated to be the fastest-growing region with an impressive CAGR during 2020-2027. APAC region consists of various developing economies such as China, India, and several Southeast countries. The installation of EVs and the deployment of renewable power plants in India and China is growing swiftly, and growing urbanization and consumer spending are anticipated to offer ample growth opportunities for secondary battery market players in the APAC.

Impact of COVID-19 Pandemic on Secondary Battery Market

North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies to boost innovation, presence of huge industrial base, and high purchasing power especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner. Presently, the US is the world's worst affected country due to COVID-19 outbreak with more than 7,380,326 confirmed cases and more than 208,787 deaths as of October 7,2020, WHO.

The US is a prominent market for secondary battery especially in smartphone and internet penetration, and consumer electronic sectors. The huge increase in the number of confirmed cases and rising reported deaths in the country is affecting both manufacturing and sales of smartphones and tablets. The factory and business shutdowns across the US, Canada and Mexico are impacting the adoption of secondary battery market. North America region is home to a large number of manufacturing and technology companies and thus the impact of coronavirus outbreak is anticipated to be quite severe in the year 2020 and likely in 2021. Hence, the ongoing COVID-19 crisis and critical situation in the US is going to impact the secondary battery market growth of North America in a negative manner for the next few quarters.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global secondary battery market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the global secondary battery market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Key Topics Covered:

1. Introduction
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Secondary Battery Market Landscape
4.1 Market Overview
4.1.1 North America
4.1.2 Europe
4.1.3 APAC
4.1.4 MEA
4.1.5 SAM
4.2 Ecosystem Analysis
4.3 Expert Opinion

5. Secondary Battery -Market Dynamics
5.1 Market Drivers
5.1.1 Growing Adoption of Secondary Battery in Consumer Electronics Industry
5.1.2 Increasing Demand for Secondary Battery in Energy Storage Technology
5.2 Market Restraints
5.2.1 Overheating of Lithium-Ion Battery
5.3 Market Opportunities
5.3.1 Surge in Demand for EVs
5.4 Future Trends
5.4.1 Industrial Applications of Lithium-Ion Technologies
5.5 Impact Analysis of Drivers and Restraints

6. Secondary Battery Market - Global Analysis
6.1 Global Secondary Battery Market Overview
6.2 Secondary Battery Market - Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Top Five Players

7. Secondary Battery Market Analysis - By Technology
7.1 Overview
7.2 Secondary Battery Market Breakdown, by Technology, 2019 & 2027
7.3 Lead-Acid Secondary Battery
7.3.1 Overview
7.3.2 Lead-acid Secondary Battery Market Revenue and Forecast to 2027 (US$ Million)
7.4 Lithium-ion Secondary Battery
7.4.1 Overview
7.4.2 Lithium-ion Secondary Battery Market Revenue and Forecast to 2027 (US$ Million)
7.5 Other Technologies
7.5.1 Overview
7.5.2 Other Technology Market Revenue and Forecast to 2027 (US$ Million)

8. Secondary Battery Market Revenue and Forecast to 2027 - Application
8.1 Overview
8.2 Secondary Battery Market Breakdown, By Application, 2019 & 2027
8.3 Automotive
8.3.1 Overview
8.3.2 Automotive Market Forecast and Analysis
8.4 Industrial
8.4.1 Overview
8.4.2 Industrial Market Forecast and Analysis
8.5 Portable Batteries
8.5.1 Overview
8.5.2 Portable Batteries Market Forecast and Analysis
8.6 Medical Device
8.6.1 Overview
8.6.2 Medical Device Market Forecast and Analysis
8.7 Forklift
8.7.1 Overview
8.7.2 Forklift Market Forecast and Analysis
8.8 Others Applications
8.8.1 Overview
8.8.2 Others Applications Market Forecast and Analysis

9. Secondary Battery Market - Geographic Analysis
9.1 Overview
9.2 North America: Secondary Battery Market
9.3 Europe: Secondary Battery Market
9.4 APAC: Secondary Battery Market
9.5 MEA: Secondary Battery Market
9.6 SAM: Secondary Battery Market

10. Impact of COVID-19 Pandemic on Secondary Battery Market
10.1 North America: Impact assessment of COVID-19 Pandemic
10.2 Europe: Impact assessment of COVID-19 Pandemic
10.3 Asia-Pacific: Impact assessment of COVID-19 Pandemic
10.4 Middle East and Africa: Impact assessment of COVID-19 Pandemic
10.5 South America: Impact Assessment of COVID-19 Pandemic

11. Company Profiles
11.1 Amperex Technology Limited
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 BYD Company Ltd
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Duracell Inc
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 EnerSys
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Contemporary Amperex Technology Co. Limited
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Panasonic Corporation
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Saft Groupe SA
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Samsung SDI Co., Ltd.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 GS Yuasa International Ltd.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 LG Chem
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments

12. Appendix
12.1 About the Publisher
12.2 Glossary

For more information about this report visit https://www.researchandmarkets.com/r/cukz5k

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