Batteries Global Market Report 2022

Major companies in the batteries market include Samsung SDI, LG Chem Ltd, BYD Electronic (International) Co Ltd, TDK Corp, Panasonic Corporation, Chaowei Power Holdings ltd, GS Yuasa, Brookfield Asset Management, SK Holdings and Berkshire Hathaway Inc.

New York, March 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Batteries Global Market Report 2022" - https://www.reportlinker.com/p06247439/?utm_source=GNW

The global batteries market is expected to grow from $83.83 billion in 2021 to $96.10 billion in 2022 at a compound annual growth rate (CAGR) of 14.6%. 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 $161.24 billion in 2026 at a CAGR of 13.8%.

The batteries market consists of sales of batteries by entities (organizations, sole traders and partnerships) that produce primary and storage batteries. Examples of primary batteries include disposable flashlight batteries, dry cells, primary (e.g., AAA, AA, C, D, 9V), lithium batteries, primary, and watch batteries. Examples of storage batteries include lead acid storage batteries, lithium storage batteries, and rechargeable nickel-cadmium (NICAD) batteries.

The main types of batteries are secondary batteries and primary batteries.A secondary battery is a batch system in which the active materials are the electrodes.

The electrode is consumed by reaction during discharge and regenerates during charge.The reaction continues until the active material is depleted.

The equipment is operated through online and offline modes. The various sales channels include OEM and aftermarket that are used for automotive batteries, industrial batteries, portable batteries, power tools batteries, SLI batteries and other applications.

Asia Pacific was the largest region in the batteries market in 2021.Western Europe was the second largest region in the batteries market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Flow batteries are gaining prominence due to low energy density than normal lithium ion batteries.Flow batteries are rechargeable batteries where chemical energy is provided by the two chemical components dissolved in liquids which are contained within a system.

It doubles the maximum voltage and yields high storage capacity of renewable power.They have the advantage of supplying power to a large network of electric grid by storing a huge amount of energy than traditional batteries.

For instance, some of the major companies manufacturing flow batteries include Sumitomo Electric Industries, UniEnergy Technologies, Dalian Rongke Power and Gildemeister.

The countries covered in the batteries market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.

Read the full report: https://www.reportlinker.com/p06247439/?utm_source=GNW

About ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

Story continues