Next-Generation Batteries Market Analysis
Market Research Future (MRFR)
predicts the global next generation batteries market to reach USD 20200 million at a CAGR of 5.4% from 2019 to 2027
(forecast period).
As the need for next generation batteries
grows, the electronics and semiconductor sectors have taken steps to provide
longer and more durable batteries for commercial usage. These batteries are
widely utilized in consumer electronics, electric vehicles, and the stationary
storage industry. Long-lasting battery production necessitates a significant
amount of effort and huge investment in order to conduct tests in conjunction
with the power and energy sectors.
Nickel-metal hydride, ultracapacitors, lithium
Sulphur (Li-S), magnesium ion, lithium-ion (Li), nickel-cadmium (Ni-Cd), solid
electrodes, and metal-air are all used in global next generation batteries.
Many commercial industries choose Li-ion batteries, which are expected to
account for a sizable market share during the forecast period. Li-ion batteries
are becoming more popular as they are combined with higher-capacity active
materials, such as silicon-containing elements, and provide higher-voltage
cathodes and electrolytes. Lithium-ion batteries, which are made of the
lightest metal, are another option. It keeps more charge and is utilized in
many electronic devices such as laptops, mobile phones, and cameras.
Furthermore, market growth for lithium Sulphur is predicted to be slow over the
projection period.
Nowadays, the customer requirement for improved
drone flying time has increased next-generation battery growth. The rising
electric vehicle market, increasing consumption of consumer electronic
appliances, and expanding adoption of the e-mobility industry are the major
main drivers in the global market. These primary driving forces have raised the
demand for efficient power storage systems across the board.
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COVID-19 Impact on the Global Next Generation
Batteries Market
The ongoing pandemic has touched practically
all marketing sectors, with the next generation battery market being one of
them. The revenue generation of the next generation battery market has also
come to a halt as a result of the lockdown for the first half of 2020. Many
clients were hesitant to engage in battery services for a variety of reasons.
Furthermore, the COVID-19 outbreak created a slew of new obstacles for the
next-generation batteries sector, including health and safety concerns, labor
shortages, manufacturing material shortages, and a slew of other issues.
The next generation battery industry leaders
intend to use cutting-edge technologies to meet increased customer demand for
battery services while also increasing worldwide revenue generating. Despite
the fact that the pandemic situation has hampered the global market's economic
growth, leading market participants have taken appropriate efforts to revive
the situation for more profitable outcomes from battery services.
Regional Analysis
According to the regional analysis, the global
next generation batteries market has been segmented into North America, Europe,
Asia Pacific, and other parts of the world.
North America is expected to be the most
profitable region for the next generation batteries industry, owing to the
region's high demand.
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Market Segmentation
The global next generation batteries market has
been segmented into type and application.
By type, the global next generation batteries
market has been segmented into Li-ion, Ni-Cd, Ni-metal hydride, Lithium
Sulphur, Magnesium Ion, Solid Electrodes, Metal-Air, and Ultra-capacitors.
By application, the global next generation
batteries market has been segmented into automotive, transportation, aerospace
& defense, industrial, and oil & gas.
Summary
The global next generation batteries market is
set to reach USD 20200 million at a CAGR of 5.4% from 2019 to 2027 (forecast
period). The rapid growth of the electric mobility industry, the adoption of
consumer electronic goods, and a preference for alternative energy sources are
expected to drive the global next generation batteries market.
Key Players
LG Chemicals (South Korea), Phinergy
(Israel), Amprius Inc. (U.S.), Mitsubishi Chemical
(Japan), Seeo (U.S.), Panasonic Corporation (Japan), Sion
Power (U.S.), Envia Systems Inc. (U.S.), Ambri Inc.
(U.S), Hitachi (Japan), Fluidic Energy (U.S.), Lockheed
Martin (U.S.), Samsung (South Korea), Saft Group
(France), Uniross Batteries (South Africa), PolyPlus
Transfection (France), OXIS Energy (U.K).
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