Rechargeable Battery Market Size, Share and Forecast 2021-2027

The global rechargeable battery market is anticipated to grow considerably at a CAGR of 6.5% during the forecast period (2021-2027). The key companies across the globe are adopting different business strategies including expanding their technological advancements, geographic presence, R&D activities, new product approvals, mergers & acquisitions, partnerships, and collaborations to increase market share. Among these, partnerships and collaborations among the major players are some of the major factors that are propelling the growth of the market. For instance, in August 2020, Contemporary Amperex Technology Ltd (CATL), China's leading electric vehicle (EV) battery manufacturer, announced that it plans to invest up to CNY19.1 billion (US$2.75 billion) in new businesses and acquisitions to assist it to keep up with the rising global competition.

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In July 2020, Contemporary Amperex Technology Co., Ltd. (CATL) and Honda have signed an agreement to form a comprehensive strategic alliance on new energy vehicle batteries to strengthen their strategic partnership and promote the popularization of e-mobility. This agreement allowed the two companies to start talking about a variety of topics, including joint development, supply stability, and battery recycling and reuse. CATL and Honda conducted joint development on NEV batteries and joint R&D into fundamental technologies, aiming for future application, by combining the two companies' technological advantages. Honda received a consistent supply of NEV batteries from CATL, primarily for battery electric vehicles (BEVs). The companies worked together to achieve global electrification by enhancing technological cooperation and developing a competitive supply system

Apart from it, in January 2020, in a deal worth up to $8.8 billion, Showa Denko Materials Co. Ltd., Japan's third-largest chemical company, has agreed to buy Hitachi Chemical. Following the merger of Nippon Shokhubai and Sanyo Chemical Industries in Synfomix, this was the latest consolidation to reshape Japan's industry. Showa Denko's need to scale up its lithium-ion battery and advanced materials businesses to compete with Chinese and Middle Eastern players in these rapidly growing markets is said to be driving the deal. Over three years, $825 million in synergies are expected. Thus, the major players of the market are focusing on the technological advancements in batteries, which has led to an increase in collaborations, partnerships, and investments by them are to propel the growth of the global rechargeable battery market during the forecast period.

 Market Coverage

·         The market number available for – 2020-2027

·         Base year- 2020

·         Forecast period- 2021-2027

Segment Covered- 

·         By Type

·         By Application

Regions Covered-

·         North America

·         Europe

·         Asia-Pacific

·         Rest of the World

·         Competitive Landscape-Robert Bosch GmbH, BASF SE, A123 Systems LLC, BroadBit Batteries OY, Solvay Group, Tesla, Inc., MaxPower, Inc., Panasonic Corp., The AES Corp., Toshiba Corp., Contemporary Amperex Technology

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Global Rechargeable Battery Market Report Segment

By Type

·         Lithium-Ion Battery

·         Sodium-Ion Battery

·         Nickel-Cadmium Battery

·         Nickel-Metal Hydride Battery

·         Zinc Nickel Battery

·         Others

By Application

·         Consumer Electronics

·         Industrial Applications

·         Automobile Applications

·         Aerospace & Defence

·         Others (Grid-Level Applications)

Global Rechargeable Battery Market Report Segment by Region

North America

·         United States

·         Canada

Europe

·         UK

·         Germany

·         Spain

·         France

·         Italy

·         Rest of Europe

Asia-Pacific

·                     India

·                     China

·                     Japan

·                     South Korea

·                     Rest of APAC

Rest of the World

·                     Latin America 

·                     Middle East & Africa

Company Profiles 

·                     A123 Systems LLC

·                     Akzo Nobel N.V.

·                     BASF SE

·                     BroadBit Batteries Oy

·                     BYD Company Ltd.

·                     Cell-Con, Inc. 

·                     Contemporary Amperex Technology Co., Ltd. (CATL)

·                     Duracell Inc.

·                     Energus Power Solutions, Ltd.

·                     GS Yuasa Corp.

·                     LG Chem Ltd.

·                     MaxPower, Inc.

·                     OXIS Energy Ltd (OXIS)

·                     Panasonic Corp.

·                     ProLogium Technology Co., Ltd.

·                     Robert Bosch GmbH

Reasons to buy from us –

1.  We cover more than 15 major industries, further segmented into more than 90 sectors.

2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

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About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

Media Contact:

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Contact Person: Mr. Anurag Tiwari

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