The global battery market is anticipated to grow significantly at a CAGR of 10.5% during the forecast period. Strong demand for consumer appliances, rising transportation needs, and fuel savings are all contributing to the growth of the market. Original Equipment Manufacturers (OEMs) are offering government incentives for cleaner transportation as well as new hybrid and electric automotive models. For instance, the Clean Transportation Program (also known as the Alternative and Renewable Fuel and Vehicle Technology Program) invests up to $100 million in a diverse portfolio of transportation and fuel transportation initiatives around California each year. The Energy Commission combines public and commercial funds to encourage the use of alternative and renewable fuels in transportation.
Get Free Sample link @ https://www.omrglobal.com/request-sample/battery-market
Electricity is less expensive and cleaner than traditional fuels, which helps to reduce CO2 emissions, which contribute to global warming. Technological improvements in alternative fuel vehicles, such as electric vehicles, are expected to create a lucrative opportunity for market players. Stringent pollution standards imposed by governments in industrialized countries such as the US and the UK, along with a growing focus on fuel efficiency, are projected to drive market demand. For instance, in the US the pollution control law such as Clean Air Act (CAA), Clean Water Act (CWA), and the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), among other, are managed by the United States Environmental Protection Agency. However, factors, like a mismatch in demand and supply of raw materials for battery manufacturing, are likely to hinder the market growth during the forecast period.
full report of Battery Market available @ https://www.omrglobal.com/industry-reports/battery-market
- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Battery Market Report Segment
By Category
- Primary
- Secondary
By Type
- Lithium-Ion (Li-Ion)
- Nickel-Metal Hydride (NI-MH)
- Nickel Cadmium
- Lead Acid
- Others
By Application
- Automotive
- Industrial
- Household
- Telecommunication
- Others
Global Battery Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/battery-market
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:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
