Global Next Generation Advanced Batteries Market Trajectory & Analytics to 2026 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 8, 2021--
The “Next Generation Advanced Batteries - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Next Generation Advanced Batteries Market to Reach $2.5 Billion by 2026
Global market for Next Generation Advanced Batteries estimated at US$137 Million in the year 2020, is projected to reach a revised size of US$2.5 Billion by 2026, growing at a CAGR of 60.5% over the analysis period.
Lithium Sulfur, one of the segments analyzed in the report, is projected to grow at a 63.3% CAGR to reach US$1.5 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Magnesium Ion segment is readjusted to a revised 61.4% CAGR for the next 7-year period. This segment currently accounts for a 24.9% share of the global Next Generation Advanced Batteries market.
The market for next generation advanced batteries is expected to grow at a healthy rate led by rapidly escalating demand for economical and efficient batteries for an increasing number of applications. A large part of this growth is coming from higher disposable income of consumers, especially in developing nations, wherein greater consumer purchasing power is leading to greater demand for electronic gadgets and electric vehicles, which represent important end-users of next-generation batteries.
The move towards highly efficient and advanced next generation batteries is supported by growing awareness about the clean energy benefits and rising interest in renewable sources of energy. The need for batteries that can be recharged quickly is growing at an unprecedented rate leading to the development and production of highly advanced batteries that are inevitable for the efficient functioning of smart homes, smart wearables, smartphones, which also reflects the extensive penetration of internet.
At the same time, the availability of higher efficiency, higher capacity and higher durability next-generation grid-scale storage batteries is pushing demand for their application in consumer electronics and automotive industries. The revenue growth is also contributed by the ability of these advanced batteries to charge, recharge and discharge at a rapid rate.
The research and development for highly advanced and highly efficient batteries has been record high over the recent years, owing to continued and growing investments from OEMs, encompassing BMW Group, Daimler and Volkswagen to name a few.
Persistent R&D efforts helped deliver batteries with quick charge rates, longer lifespan and improved fire protection. While this has helped support the adoption increase for smart devices and gadgets, the thirst for extracting more out of batteries remains unquenched.
A case in point is the electric vehicles industry that demands the next-generation batteries to fulfill the need for high energy density (necessary to achieve greater range), safety, fast charge time and cost-effectiveness. Another sector that is looking up to next-generation batteries is the energy industry that intends to leverage the capability of advanced batteries to provide the grid with renewable energy storage.
Solid Electrodes Segment to Reach $390.1 Million by 2026
In the global Solid Electrodes segment, USA, Canada, Japan, China and Europe will drive the 58.4% CAGR estimated for this segment. These regional markets accounted for a combined market size of US$18.5 Million in the year 2020.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$44 Million by the year 2026.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- Global Next Generation Advanced Batteries to Witness Rapid Growth
- Lithium Sulphur Batteries Demand to Accelerate
- Consumer Electronics - The Largest End-user
- North America - The Largest Region for Next Generation Advanced Batteries
- Competitive Landscape
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 62 Featured)
- 24M Technologies, Inc.
- Amprius Technologies
- Aqua Power System Japan
- Arconic Corporation
- Energizer Holdings, Inc.
- EnZinc, Inc.
- ESS, Inc.
- Excellatron Solid State, LLC
- GS Yuasa Corporation
- Ionomr Innovations Inc.
- Lockheed Martin Corporation
- Mag One Products Inc.
- Oxis Energy Ltd
- Panasonic Corporation
- Pathion Inc.
- Pellion Technologies Inc.
- Phinergy Marine
- PolyPlus Battery Company Inc.
- Renata SA
- RiAlAiR Ltd.
- Samsung SDI Co., Ltd.
- Sion Power Corporation
- Sonic Energy
- ZAF Energy Systems, Inc.
- Zinc8 Energy Solutions Inc.
3. MARKET TRENDS & DRIVERS
- Lithium Ion (Li-Ion) Battery Limitations to Present Opportunities for Next Generation Advanced Batteries
- Next Generation Batteries Opportunity Indicators: Lithium-Ion Battery Applications
- Growing Demand for Mobile Computing Devices Lends Traction to Market Growth
- Tablet PCs
- Laptop PCs
- Booming Digital World Spells Opportunities for Next Generation Advanced Batteries in Consumer Batteries
- Increased Demand for Electric Vehicles to Drive the Market for Advanced Next Generation Batteries
- Next Generation Batteries for Electric Vehicles
- Lithium-silicone and Solid-state Technology to Power EVs in Future
- Solid-state Battery Research for EVs
- Growing Demand for Renewable Energy Sources and Rising Awareness about Benefits of Clean Energy Drive the Demand for Next Generation Advanced Batteries
- Inevitable Rise in Energy Demand Post COVID-19 to Throw Spotlight on Renewable Energy & Energy Storage Technologies, Including Next Generation Batteries
- Advanced Next Generation Batteries Gain Momentum in Wearable Devices
- Expanding Internet User Base & Consumer Appetite for Digital Media: Key Traits of Modern Digital World
- ‘Smart Home’ and Home Automation Instigate New Line of Opportunities
- Future Trends in Battery Technology
- NanoBolt Lithium Tungsten Batteries
- Zinc-Manganese Oxide Batteries
- Organosilicon Electrolyte Batteries
- Gold Nanowire Gel Electrolyte Batteries
- TankTwo String CellT Batteries
- MACRO DRIVERS
- Favorable Demographic & Socio-Economic Trends Strengthen Market Prospects
- Rapid Growth in Urban Households
- Growing Affluence of Middle Class Consumer Segment
- Rising Living Standards
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/6hbv7p
View source version on businesswire.com:https://www.businesswire.com/news/home/20211108005831/en/
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SOURCE: Research and Markets
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PUB: 11/08/2021 11:45 AM/DISC: 11/08/2021 11:46 AM