The Business Research Company’s Secondary Batteries Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, July 13, 2021 /EINPresswire.com/ — Recent developments in NiMH battery manufacturing has improved the lifespan of nickel-metal hydride batteries in the consumer battery market. The electro positivity of the A-elements makes them easy to be corroded in the alkaline electrolyte used in NiMH batteries. A thin protective layer is used on alloy particles to improve reaction kinetics and corrosion stability of conventional NiMH batteries. In December 2018, Researchers at Stockholm University, a Swedish public university, have developed metal hydride surface structures for NiMH batteries to extend cycle life.
The secondary batteries market consists of sales of secondary batteries and related services that are used in portable devices, electronics, and motor vehicles. Secondary batteries are electrical batteries which can be charged, discharged, and recharged multiple times. Secondary batteries include Lithium-ion, lead-acid, Nickel Metal Hydride (NiMH) based secondary batteries. They are highly cost-efficient in the long-term and are environment friendly!
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The global secondary batteries market is expected to grow from $52.58 billion in 2020 to $57.61 billion in 2021 at a compound annual growth rate (CAGR) of 9.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $83.24 billion in 2025 at a CAGR of 10%.
The major players covered in the global secondary battery market are BYD Company Ltd., Samsung SDI Co. Ltd., LG Chem Co. Ltd., Johnson Controls, Amperex Technologies Ltd., Energizer Holdings, Inc., Panasonic Corporation, Aquion Energy, Battery Technology Inc., Beckett Energy Systems, Duracell Inc., EaglePicher Technologies, LLC, Electrochem Automation Inc., EnerVault Corporation, E-One Moli Energy Corp., Eveready Industries India Ltd., FDK Corporation, GPB International Limited, GS Yuasa Corporation, Highpower International Inc., Hitachi Chemical, Jiangmen TWD Technology Co., Ltd., Maxell Holdings, Ltd., Nippon Chemi-Con, Saft Groupe S.A., Spectrum Brands, Inc., VARTA Consumer Batteries GmbH & Co. KgaA, TCL Hyperpower Batteries, Inc., Tohoku Murata Manufacturing Co., Ltd., Ultralife Corporation.
In January 2020, German battery manufacturer, VARTA AG acquired the US based Energizer Holdings, Inc.’s subsidiary, VARTA Consumer Batteries for $401 million. The acquisition will likely strengthen VARTA AG’s battery business and expand its product portfolio. VARTA Consumer Batteries manufactures and markets dry and primary batteries globally.
TBRC’s rechargeable battery market report is segmented by product type into lead acid, lithium-ion (Li-ion), nickel metal hydride, others, by application into electronics, motor vehicles, portable devices, others, and by end user into automotive, household, industrial.
Secondary Batteries Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides secondary batteries market overview, forecast secondary batteries market size and growth for the whole market, secondary batteries market segments, and geographies, secondary batteries market trends, secondary batteries market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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