Secondary Battery Market 2020-2024 | Decline in Lithium-ion Battery Costs
The secondary battery market size has the potential to grow by USD 55.62 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by technology (lead-acid, lithium-ion, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including 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 Competitive Analysis
The secondary battery market is fragmented. Market vendors are offering batteries based on different chemistries, such as lithium-ion, lead-acid, NiMH, and NiCd. GS Yuasa Corp., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd., and Tesla Inc. are some of the major market participants. Although the decline in lithium-ion battery costs will offer immense growth opportunities, shortfalls of lead-acid batteries will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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This study identifies development of advanced lead-acid battery as one of the prime drivers of the secondary battery market growth during the forecast period.
Secondary Battery Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the secondary battery market, including some of the vendors such as BYD Co. Ltd., s, 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. Backed with competitive intelligence and benchmarking, our research reports on the secondary battery market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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