Top Companies in Rechargeable Battery Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research
Rechargeable Battery Market is projected to reach a value of USD 153.5 Billion by 2028 at a CAGR of 6.5% over the forecast period.
The Global Rechargeable Battery Market is valued at USD 105.2 Billion in 2021 and is projected to reach a value of USD 153.5 Billion by 2028 at a CAGR of 6.5% over the forecast period. Rechargeable batteries are in high demand across the globe as a result of the quick rise in the use of consumer devices. The elements that have led to a growth in their acceptance are the rechargeable batteries' advantages over conventional batteries, which discharge after use and cannot be reused, including their extended lifespan, cost-benefit, and reuse.
Global demand for batteries has surged due to the demand for continuous energy. In addition, electric vehicles have entered the market as part of the automotive industry's upgrade to combat the issue of rising carbon footprints.
The market's expansion is also fueled by the numerous applications of rechargeable batteries in the consumer electronics, automotive, and energy storage sectors. Rechargeable batteries are also used in various upcoming consumer electronics products, including mobile phones, watches, cameras, computers, and portable batteries. The second area that presents a sizable opportunity for the market for rechargeable batteries during the specified projection period is the automotive industry, which uses electric vehicles. Customers are becoming more aware of environmental issues like climate change and air pollution from traditional fuels like gasoline and diesel. This is compelling them to adopt more eco-friendly alternatives like electric vehicles that run on rechargeable batteries.
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The Rechargeable Battery market is dominated by globally established players such as East Penn Manufacturing (US), Enersysl (US), Exide Technologies (US), Johnson Control (Ireland), LG Chemicals (South Korea), SAFT Groupe SA (France), Samsung SDI (South Korea), Panasonic Corporation (Japan), Apple Inc. (US), STMicroelectronics NV (Switzerland), among others. Additionally, the major competitors in the worldwide rechargeable battery market concentrate more on recent developments, including capacity expansions, investments, mergers and acquisitions, and plant turnarounds.
Let’s Look at the Top Companies That are Taking the Rechargeable Battery Market by Storm
- East Penn Manufacturing (US)
The Company East Penn Manufacturing Company Inc. produces batteries. The business sells lead acid batteries, battery accessories, and industrial, marine, and car batteries. East Penn Manufacturing is a global company.
- Enersysl (US)
Industrial batteries are produced and sold by Enersys Ltd. The company supplies valve-regulated lead-acid and flooded batteries for standby power applications in telecom, uninterrupted power systems, utilities, and off-shore facilities in the United Kingdom.
- Exide Technologies (US)
Exide Technologies is a manufacturer and recycler of lead-acid batteries. The company's international transportation and industrial energy groups offer various stored electrical energy products and services for use in industrial and transportation applications. Exide Technologies serve Georgian residents.
- Johnson Control (Ireland)
Johnson Controls manufactures HVAC and electronic products. The company provides services for integrated facility management, building control systems, security, fire detection, batteries, and other associated products, in addition to HVAC equipment. Johnson Controls serve worldwide customers.
- LG Chem Ltd. (South Korea)
LG Chem Ltd. produces chemicals, Petrochemicals, plastic resins, and engineering plastics, among the company's offerings. LG Chem also produces electronic and industrial materials, which includes Rechargeable Batteries.
- SAFT (US)
Saft America Inc. produces advanced batteries. The company manufactures lithium, nickel, and silver batteries and energy systems. It distributes its goods to many industry segments in the US, including the railway, automotive, defense, aerospace, and marine sectors.
- Samsung SDI (South Korea)
Lithium Ion Battery (LIB) technology is a Samsung SDI Co. Ltd specialty. The business also produces cathode ray tubes (CRTs) for computer and television monitors. Rechargeable batteries and liquid crystal display (LCD) parts are additional products Samsung SDI makes for solar panels, PDAs, energy storage systems, and mobile devices.
- Panasonic Corporation (Japan)
Panasonic Holdings Corporation designs, develops, produces, and sells appliances. The company manufactures a variety of appliances, including a washing machine, rice cooker, microwave, and air conditioner. Additionally, Panasonic Holdings makes lights, light-ventilating fans, air purifiers, communication devices, automotive electronics, power supplies, batteries, and various other things.
- Apple Inc. (US)
Apple Inc. creates, produces, and sells smartphones, laptops, tablets, wearable technology, accessories, and a range of connected items. The company provides cloud, advertising, digital content, and payment services. Customers of Apple Inc. are largely found in the global consumer, small- and medium-sized companies, education, enterprise, and government industries.
- STMicroelectronics NV (Netherlands)
STMicroelectronics N.V. creates, develops, produces, and sells discrete and semiconductor integrated circuits. The company's products employ the telecommunications, consumer electronics, automotive, computer, and industrial sectors. Geographically, customers are concentrated in the Asia-Pacific region, Europe, and North America.
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