Secondary Battery Market Growth, Trends, Size, Scope, Competition and Future Outlook Till 2033: SPER Market Research

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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.

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.

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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:	Lead Acid Lithium-ion (Li-ion) Nickle Metal Hydride Others
By Technology:	Lead-acid Secondary Battery Lithium-ion Secondary Battery Other Technologies
By Application:	Electronics Industrial Batteries Motor Vehicles Portable Devices Others
By Industrial Vertical:	Automotive Chemical & Petrochemical Energy & Power Oil & Gas Others

Key Topics Covered in the Report

Global Secondary Battery Market Size (FYâ€™2023-FYâ€™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 (FYâ€™2023-FYâ€™2033)
Recommendations from Analyst

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source

2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERâ€™s internal database
2.1.4. Premium insight from KOLâ€™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. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges

4.2. COVID-19 Impacts of the Global Secondary Battery Market

5. Market variable and outlook

5.1. SWOT Analysis

5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats

5.2. PESTEL Analysis

5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape

5.3. PORTERâ€™s Five Forces

5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry

5.4. Heat Map Analysis

6. Competitive Landscape

6.1. Global Secondary Battery Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2023-2033
7.2. Lead Acid
7.3. Lithium-ion (Li-ion)
7.4. Nickle Metal Hydride
7.5. Others

8. Global Secondary Battery Market, By Technology (USD Million)

8.1. Global Secondary Battery Market Value Share and Forecast, By Technology, 2023-2033
8.2. Lead-acid Secondary Battery
8.3. Lithium-ion Secondary Battery
8.4. Other Technologies

9. Global Secondary Battery Market, By Application (USD Million)

9.1. Global Secondary Battery Market Value Share and Forecast, By Application, 2023-2033
9.2. Electronics
9.3. Industrial Batteries
9.4. Motor Vehicles
9.5. Portable Devices
9.6. Others

10. Global Secondary Battery Market, By Industrial Vertical (USD Million)

10.1. Global Secondary Battery Market Value Share and Forecast, By Industrial Vertical, 2023-2033
10.2. Automotive
10.3. Chemical & Petrochemical
10.4. Energy & Power
10.5. Oil & Gas
10.6. 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. Australia
16.3.2. China
16.3.3. India
16.3.4. Japan
16.3.5. South Korea
16.3.6. Rest of Asia-Pacific

16.4. Europe

16.4.1. France
16.4.2. Germany
16.4.3. Italy
16.4.4. Spain
16.4.5. United Kingdom
16.4.6. Rest of Europe

16.5. Middle East and Africa

16.5.1. Kingdom of Saudi Arabia
16.5.2. United Arab Emirates
16.5.3. Rest of Middle East & Africa

16.6. North America

16.6.1. Canada
16.6.2. Mexico
16.6.3. United States

16.7. Latin America

16.7.1. Argentina
16.7.2. Brazil
16.7.3. Rest of Latin America

17. Company Profile

17.1. AC Delco

17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments

17.2. Advanced Battery Technologies Inc.

17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments

17.3. Amperex Technologies Ltd.

17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments

17.4. Aquion Energy

17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments

17.5. Battery Technology Inc.

17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments

17.6. Beckett Energy Systems

17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments

17.7. BYD Company Ltd.

17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments

17.8. Delphi

17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments

17.9. DESAY

17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments

17.10. East Penn Manufacturing

17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments

17.11. Energizer Holdings Inc.

17.11.1. Company details
17.11.2. Financial outlook
17.11.3. Product summary
17.11.4. Recent developments

17.12. Enersys

17.12.1. Company details
17.12.2. Financial outlook
17.12.3. Product summary
17.12.4. Recent developments

17.13. Exide Technologies

17.13.1. Company details
17.13.2. Financial outlook
17.13.3. Product summary
17.13.4. Recent developments

17.14. GS Yuasa

17.14.1. Company details
17.14.2. Financial outlook
17.14.3. Product summary
17.14.4. Recent developments

17.15. Johnson Controls

17.15.1. Company details
17.15.2. Financial outlook
17.15.3. Product summary
17.15.4. Recent developments

17.16. LG Chem Co. Ltd.

17.16.1. Company details
17.16.2. Financial outlook
17.16.3. Product summary
17.16.4. Recent developments

17.17. Panasonic Corporation

17.17.1. Company details
17.17.2. Financial outlook
17.17.3. Product summary
17.17.4. Recent developments

17.18. PowerGenix

17.18.1. Company details
17.18.2. Financial outlook
17.18.3. Product summary
17.18.4. Recent developments

17.19. Rivolt Technologies

17.19.1. Company details
17.19.2. Financial outlook
17.19.3. Product summary
17.19.4. Recent developments

17.20. Samsung SDI Co. Ltd.

17.20.1. Company details
17.20.2. Financial outlook
17.20.3. Product summary
17.20.4. Recent developments

17.21. Xupai Power Co. Ltd.

17.21.1. Company details
17.21.2. Financial outlook
17.21.3. Product summary
17.21.4. 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.

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Frequently Asked Questions About This Report

How big is the Secondary Battery Market?

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.

What is the growth rate of the Secondary Battery Market?

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.

What is the anticipated CAGR of the Secondary Battery Market during the forecast period?

The Secondary Battery Market CAGR of 10.6% during the forecast period.

How can I get the sample report on the Secondary Battery Market?

You can get the sample pages by clicking the link -Click Here

What is the market size of the Secondary Battery Market in 2033?

The Secondary Battery Market size is USD 320.70 billion from 2023 to 2033.

Which segment is expected to lead the Secondary Battery Market during the forecast period?

The Secondary Battery Market segment is Covered By Type, By Technology, By Application, By Industrial Vertical.

Which region is expected to have the highest market share in the Secondary Battery Market?

The North America region is anticipated to have the highest market share in the Secondary Battery Market.

Who are the key players in 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.

What is the conclusion of the Secondary Battery Market?

The secondary battery market includes the sale of secondary batteries and related services used in motor vehicles, electronics, portable devices, and emergency lighting sources.