Secondary Battery Market 2020-2024 | Decline in Lithium-ion Battery Costs

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Secondary Battery Market

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Business

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Elmhurst - Illinois - US

ELMHURST, Ill. - May 26, 2020 - PRLog -- The secondary battery market and it is poised to grow by USD 55.62 bn during 2020-2024, progressing at a CAGR of 11% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.Decline in lithium-ion battery costs has been instrumental in driving the growth of the market. However, shortfalls of lead-acid batteries might hamper market growth.

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 Overview

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.

Request a free sample report -  https://www.technavio.com/talk-to-us?report=IRTNTR40336&a...

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.

Full Report - https://www.technavio.com/report/secondary-battery-market...

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Tags:Secondary Battery Market
Industry:Business
Location:Elmhurst - Illinois - United States
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