Secondary Battery Market Growth, Trends, Size, Scope, Competition and Future Outlook Till 2033
Global Secondary Battery Market Size- By Type, By Technology, By Application, By Industrial Vertical- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2022 | Report ID: POAE2204 | Pages: 1 - 229 | Formats*: |
| Category : Power & Energy | |||
Secondary Battery Market Introduction and Overview
According to SPER Market Research, the Global Secondary Battery Market is estimated to reach USD 320.70 billion by 2033 with a CAGR of 10.6%.
The report includes an in-depth analysis of the Global Secondary Battery Market, including market size and trends, product mix, distribution channels, and supplier analysis. Secondary batteries, also known as storage batteries or charge accumulators, have the ability to be charged and discharged. The cell processes within these batteries, whether it's a single cell or a combination of cells, are reversible. By applying current to the battery or charging it from an external source, the battery can be restored to its original chemical conditions. Secondary batteries include Nickel Metal Hydride (NIMH), Lithium, and Lead Acid batteries. These types of batteries are environmentally friendly and offer long-term cost-effectiveness.
- ABSLTM: The successful incorporation of lithium-ion (Li-ion) ABSLTM batteries into the launch of the James Webb Space Telescope by the National Aeronautics and Space Administration (NASA) took place in December 2021.
- Northvolt: At its manufacturing plant in Skelleftea, Sweden, Northvolt has achieved the production of its inaugural lithium-ion battery cell. The facility is projected to have an annual capacity of 60 GWh, sufficient to provide batteries for approximately 1 million electric vehicles. The company had initially aimed to commence commercial deliveries in 2022.
-00959125072023.jpg)
Market Opportunities and Challenges
The global secondary battery market is expected to experience multiple growth opportunities due to the increasing use of artificial intelligence (AI) in battery research and development. One notable advancement in batteries is the extended battery life, allowing them to endure a greater number of cycles. Companies are investing significantly in the research and development of batteries with longer lifespans. The utilization of AI in battery testing is also on the rise, enabling accurate prediction of service life and reducing time and cost requirements. These developments create a favorable environment for growth in the global secondary battery market. Additionally, the expansion of the telecommunications sector presents several business opportunities for market players in the global secondary battery market. The expansion of the telecommunications sector, particularly in industrialised nations, will increase demand for secondary batteries.
The market for secondary batteries, however, also confronts difficulties. The secondary battery market faces challenges due to increased demand for lithium-ion batteries and the minerals needed for their production, leading to supply shortages and rising costs. Consequently, the cost of these minerals has risen, creating a shortage in their supply. The global market for secondary batteries is constrained in its ability to expand by this imbalance between supply and demand as well as growing raw material prices. The development of the business is further hampered by strict government restrictions for battery production that are intended to limit pollutants and harmful substances.
-00959065072023.jpg)
Market Competitive Landscape
The secondary battery market is highly competitive, with fierce competition fueled by ongoing research and development activities and the consistent introduction of new technologies. Major industry players are actively pursuing diverse business growth strategies to enhance their market presence on both regional and global scales. These strategies encompass initiatives such as mergers and acquisitions, partnerships, and collaborations. Some of the major players in the market are: AC Delco, Advanced Battery Technologies Inc., Amperex Technologies Ltd., Aquion Energy, Enersys, Exide Technologies, GS Yuasa, Johnson Controls, LG Chem Co. Ltd., PowerGenix, Rivolt Technologies, Samsung SDI Co. Ltd., Xupai Power Co. Ltd., others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Technology, By Application, By Industrial Vertical |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America, Others |
| Companies Covered | AC Delco, Advanced Battery Technologies Inc., Amperex Technologies Ltd., Aquion Energy, Battery Technology Inc., Beckett Energy Systems, BYD Company Ltd., Delphi, DESAY, East Penn Manufacturing, Energizer Holdings Inc., Enersys, Exide Technologies, GS Yuasa, Johnson Controls, LG Chem Co. Ltd., Panasonic Corporation, PowerGenix, Rivolt Technologies, Samsung SDI Co. Ltd., Xupai Power Co. Ltd., others |
COVID-19 Impact on Global Secondary Battery Market
The COVID-19 pandemic has had a detrimental impact on various sectors, including the secondary battery market. The production process and the availability of raw materials have been disrupted, causing challenges for the industry. Furthermore, the market is heavily influenced by the electric car industry, which has also been affected by the pandemic's impact on disposable income.
Key Target Audience
- Automotive Industry
- Consumer Electronics Manufacturers
- Energy Storage System Providers
- Industrial Sector
- Renewable Energy Sector
- Others
Our in-depth analysis of the Secondary Battery Market includes the following segments:
| By Type: |
|
| By Technology: |
|
| By Application: |
|
| By Industrial Vertical: |
|
Key Topics Covered in the Report
- Global Secondary Battery Market Size (FY’2023-FY’2033)
- Overview of Global Secondary Battery Market
- Segmentation of Global Secondary Battery Market By Type (Acid, Lithium-ion (Li-ion), Nickle Metal Hydride, Others)
- Segmentation of Global Secondary Battery Market By Technology (Lead-acid Secondary Battery, Lithium-ion Secondary Battery, Other Technologies)
- Segmentation of Global Secondary Battery Market By Application (Electronics, Industrial Batteries, Motor Vehicles, Portable Devices, Others)
- Segmentation of Global Secondary Battery Market By Industrial Vertical (Automotive, Chemical & Petrochemical, Energy & Power, Oil & Gas, Others)
- Statistical Snap of Global Secondary Battery Market
- Expansion Analysis of Global Secondary Battery Market
- Problems and Obstacles in Global Secondary Battery Market
- Competitive Landscape in the Global Secondary Battery Market
- Impact of COVID-19 and Demonetization on Global Secondary Battery Market
- Details on Current Investment in Global Secondary Battery Market
- Competitive Analysis of Global Secondary Battery Market
- Prominent Market Players in the Global Secondary Battery Market
- SWOT Analysis of Global Secondary Battery Market
- Global Secondary Battery Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Secondary Battery Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Secondary Battery Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Secondary Battery Market
7. Global Secondary Battery Market, By Type (USD Million)
7.1. Global Secondary Battery Market Value Share and Forecast, By Type, 2023-20337.2. Lead Acid7.3. Lithium-ion (Li-ion)7.4. Nickle Metal Hydride7.5. Others
8. Global Secondary Battery Market, By Technology (USD Million)
8.1. Global Secondary Battery Market Value Share and Forecast, By Technology, 2023-20338.2. Lead-acid Secondary Battery8.3. Lithium-ion Secondary Battery8.4. Other Technologies
9. Global Secondary Battery Market, By Application (USD Million)
9.1. Global Secondary Battery Market Value Share and Forecast, By Application, 2023-20339.2. Electronics9.3. Industrial Batteries9.4. Motor Vehicles9.5. Portable Devices9.6. Others
10. Global Secondary Battery Market, By Industrial Vertical (USD Million)
10.1. Global Secondary Battery Market Value Share and Forecast, By Industrial Vertical, 2023-203310.2. Automotive10.3. Chemical & Petrochemical10.4. Energy & Power10.5. Oil & Gas10.6. Others
11. Global Secondary Battery Market Forecast, 2019-2033 (USD Million)
11.1. Global Secondary Battery Market Size and Market Share
12. Global Secondary Battery Market, By Type, 2019-2033 (USD Million)
12.1. Global Secondary Battery Market Size and Market Share By Type (2019-2026)12.2. Global Secondary Battery Market Size and Market Share By Type (2027-2033)
13. Global Secondary Battery Market, By Technology, 2019-2033 (USD Million)
13.1. Global Secondary Battery Market Size and Market Share By Technology (2019-2026)13.2. Global Secondary Battery Market Size and Market Share By Technology (2027-2033)
14. Global Secondary Battery Market, By Application, 2019-2033 (USD Million)
14.1. Global Secondary Battery Market Size and Market Share By Application (2019-2026)14.2. Global Secondary Battery Market Size and Market Share By Application (2027-2033)
15. Global Secondary Battery Market, By Industrial Vertical, 2019-2033 (USD Million)
15.1. Global Secondary Battery Market Size and Market Share By Industrial Vertical (2019-2026)15.2. Global Secondary Battery Market Size and Market Share By Industrial Vertical (2027-2033)
16. Global Secondary Battery Market, By Region, 2019-2033 (USD Million)
16.1. Global Secondary Battery Market Size and Market Share By Region (2019-2026)16.2. Global Secondary Battery Market Size and Market Share By Region (2027-2033)16.3. Asia-Pacific
16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada16.6.2. Mexico16.6.3. United States
16.7. Latin America
16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17. Company Profile
17.1. AC Delco
17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments
17.2. Advanced Battery Technologies Inc.
17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments
17.3. Amperex Technologies Ltd.
17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments
17.4. Aquion Energy
17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments
17.5. Battery Technology Inc.
17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments
17.6. Beckett Energy Systems
17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments
17.7. BYD Company Ltd.
17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments
17.8. Delphi
17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments
17.9. DESAY
17.9.1. Company details17.9.2. Financial outlook17.9.3. Product summary17.9.4. Recent developments
17.10. East Penn Manufacturing
17.10.1. Company details17.10.2. Financial outlook17.10.3. Product summary17.10.4. Recent developments
17.11. Energizer Holdings Inc.
17.11.1. Company details17.11.2. Financial outlook17.11.3. Product summary17.11.4. Recent developments
17.12. Enersys
17.12.1. Company details17.12.2. Financial outlook17.12.3. Product summary17.12.4. Recent developments
17.13. Exide Technologies
17.13.1. Company details17.13.2. Financial outlook17.13.3. Product summary17.13.4. Recent developments
17.14. GS Yuasa
17.14.1. Company details17.14.2. Financial outlook17.14.3. Product summary17.14.4. Recent developments
17.15. Johnson Controls
17.15.1. Company details17.15.2. Financial outlook17.15.3. Product summary17.15.4. Recent developments
17.16. LG Chem Co. Ltd.
17.16.1. Company details17.16.2. Financial outlook17.16.3. Product summary17.16.4. Recent developments
17.17. Panasonic Corporation
17.17.1. Company details17.17.2. Financial outlook17.17.3. Product summary17.17.4. Recent developments
17.18. PowerGenix
17.18.1. Company details17.18.2. Financial outlook17.18.3. Product summary17.18.4. Recent developments
17.19. Rivolt Technologies
17.19.1. Company details17.19.2. Financial outlook17.19.3. Product summary17.19.4. Recent developments
17.20. Samsung SDI Co. Ltd.
17.20.1. Company details17.20.2. Financial outlook17.20.3. Product summary17.20.4. Recent developments
17.21. Xupai Power Co. Ltd.
17.21.1. Company details17.21.2. Financial outlook17.21.3. Product summary17.21.4. Recent developments
17.22. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The Secondary Battery Market is projected to reach USD 320.70 billion by 2033, growing at a CAGR of 10.6% during the forecast period.
The Secondary Battery Market grew in market size from 2022. The Market is expected to reach USD 320.70 billion by 2033, at a CAGR of 10.6% during the forecast period.
The Secondary Battery Market CAGR of 10.6% during the forecast period.
You can get the sample pages by clicking the link -Click Here
The Secondary Battery Market size is USD 320.70 billion from 2023 to 2033.
The Secondary Battery Market segment is Covered By Type, By Technology, By Application, By Industrial Vertical.
The North America region is anticipated to have the highest market share in the Secondary Battery Market.
The key players in the market include Companies Covered AC Delco, Advanced Battery Technologies Inc., Amperex Technologies Ltd., Aquion Energy, Battery Technology Inc., Beckett Energy Systems, BYD Company Ltd., Delphi, DESAY, East Penn Manufacturing, Energizer Holdings Inc., Enersys, Exide Technologies, GS Yuasa, Johnson Controls, LG Chem Co. Ltd., Panasonic Corporation, PowerGenix, Rivolt Technologies, Samsung SDI Co. Ltd., Xupai Power Co. Ltd.
The secondary battery market includes the sale of secondary batteries and related services used in motor vehicles, electronics, portable devices, and emergency lighting sources.
PLACE AN ORDER
Year End Discount
Sample Report
Pre-Purchase Inquiry
NEED CUSTOMIZATION?
Request CustomizationCALL OR EMAIL US
100% Secure Payment
Related Reports
Have a glance of the Report
Our Global Clients
Our data-driven insights have influenced the strategy of 200+ reputed companies across the globe.
