Over 11%, CAGR, Secondary Battery Market – Insights on Technology and Geography by 2024 – PR Newswire

With the continuous rise in global energy demand, clean energy initiatives, and subsidies for power generation using sustainability, the use of renewable energy sources such as solar and wind energy has also increased.The intermittent power generation from renewable sources of energy will increase the need for solutions such as battery energy storage in both grid and off-grid locations. Thus, the rise in the use of renewable energy will fuel the demand for secondary batteries during the forecast period.

Browse Summary of the SECONDARY BATTERY MARKETResearch Report to Learn More

Secondary Battery Market 2020-2024: Segmentation

Lead-acid batteries are cost-effective compared to other battery technologies. The increase in industrial and construction activities, high adoption of battery technology in the automotive industry and UPS applications, and growing adoption of EVs are some of the factors driving the growth of the secondary battery market in this segment.

Almost 64% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for secondary batteries in APAC. Market growth in this region will befaster than the growth of the market inother regions.

Secondary Battery Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our report covers the following areas:

Secondary Battery Market 2020-2024: Key Highlights

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Browse Summary of the SECONDARY BATTERY RECYCLING MARKETReport by Type and Geography - Forecast and Analysis 2020-2024: The market value is set to grow by USD 5 billion, progressing at a CAGR of almost 7% from 2019 to 2024, as per the latest report by Technavio. This secondary battery recycling market report further entails segmentations by Type (Lead-acid battery, Li-ion battery, and Others) and Geography (APAC, Europe, North America, South America, and MEA).

Browse Summary of theBATTERY RECYCLING MARKETReport by Battery Chemistry, Battery Source, and Geography - Forecast and Analysis 2021-2025: The market value is set to grow by USD 6.28 billion, progressing at a CAGR of 9% from 2020 to 2025, as per the latest report by Technavio. The battery recycling market report also offers information on several market vendors, including Accurec Recycling GmbH, Battery Solutions LLC, Call2Recycle Inc., and more

Secondary Battery Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 11%

Market growth 2020-2024

$ 55.62 billion

Market structure

Fragmented

YoY growth (%)

2.01

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

APAC at 64%

Key consumer countries

China and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

BYD Co. Ltd., Clarios, Contemporary Amperex Technology Co. Ltd., East Penn Manufacturing Co. Inc., Exide Technologies, GS Yuasa Corp., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd., and Tesla Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents:

Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by Technology

Customer landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [emailprotected]Website: http://www.technavio.com/

SOURCE Technavio

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Over 11%, CAGR, Secondary Battery Market - Insights on Technology and Geography by 2024 - PR Newswire