Global Next Generation Battery Market Is Set for A Rapid Growth And Is Anticipated To Reach USD 2046.88 Million by 2024

16-Aug-2018 | Zion Market Research

Zion Market Research has published a new report titled “Next Generation Battery Market by Technology (Lithium-ion, Advanced Lead-Acid Batteries, Molten Salt Batteries, Flow Batteries, and Others), and by Application (Transportation, Stationary Energy Storage, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global next generation battery market accounted for USD 35.66 million in 2017 and is expected to reach USD 2046.88 million globally by 2024, growing at a CAGR of around 78.35% between 2018 and 2024.

Lithium-ion batteries are being extensively used today. However, these batteries have some drawbacks such as they take a long time to recharge, high costs, short cycle lifetimes, and safety. Next generation batteries are different from the traditional Li-ion batteries. These batteries are incorporated with rechargeable stream batteries, poly-lithium-particle batteries, and propelled lead-corrosive. Next generation batteries like lithium-sulfur battery have more advantages than Li-ion battery systems, offering both superior theoretical capacities, thus having high energy densities. Next-generation batteries have some exceptional properties, such as they are lightweight, compact in size, and improved security highlights. Lithium-particle batteries are the most usually utilized batteries for vitality stockpiling. This is because of its property of being lightweight and minimal while supporting high vitality density.

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Browse the full "Next Generation Battery Market by Technology (Lithium-ion, Advanced Lead-Acid Batteries, Molten Salt Batteries, Flow Batteries, and Others), and by Application (Transportation, Stationary Energy Storage, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/generation-battery-market 

Global Next Generation Battery Market

The rising industrialization in the developing countries is anticipated to influence the next generation batteries market. The major factor driving the growth of next generation battery market is the increasing adoption of e-mobility industry, growing electric vehicle market, and increasing usage of consumer electronic appliances. Further, the need for large and efficient batteries for a sufficient amount of power storage is building the demand for higher next generation battery capacities. Furthermore, huge investments by automotive giants in research and development in electric vehicle batteries and rising government initiatives for green fuel is also another major factor fuelling the market growth. This is owing to the increasing awareness regarding green energy initiatives. In addition, next-generation battery developers are focusing on technological advancements and scaling up the mass-production of the next generation batteries. However, limitation in the technologies and the high cost of manufacturing batteries are some of the major factors which are hindering the growth of next generation batteries market.

On the basis of technology, the global next generation battery market is segmented into Lithium-ion, advanced lead-acid batteries, molten salt batteries, flow batteries, and others. Lithium-ion is further classified into advance Li-ion, lithium sulfur and lithium solid-state. On the basis of application, the global next generation battery market is segmented into transportation, stationary energy storage, and others. All the segments are analyzed based on the present and the future trends and the market is estimated from 2018 to 2024. On the basis of regions, the global next generation battery market is segmented into the Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe with its further division into the U.S., UK, Germany, France, China, India, Japan, and Brazil.

With the largest share, North America was the leading regional market for global next generation battery market in 2017 followed by Europe. The U.S. is projected to lead the global next generation battery market during the analysis period. The growth in these regions is mainly due to the high demand for efficient fuel economy electric vehicles and positive governmental initiatives for sales of the electric vehicles and stringent rules and regulations for vehicular emissions. Further, Asia Pacific is expected to emerge as the fastest growing regional segment for next generation battery market. China, Japan, and South Korea are the beneficial regional markets for the Asia Pacific next generation battery market. Presently, China is the largest market for electric vehicles in the Asia Pacific region. The high demand for consumer electronics appliances also supports the growth of this market.

The major players of next generation batteries market include Samsung, Saft Group, Panasonic Corporation, Sion Power, Envia Systems Inc., Ambri Inc., Lockheed Martin, Hitachi, Fluidic Energy, LG Chemicals, Phinergy, Amprius Inc., Mitsubishi Chemical, Seeo, Uniross Batteries, PolyPlus Transfection, and OXIS Energy.

The report segments the next generation battery market as follows:

Global Next Generation Battery Market: Technology Segment Analysis

  • Lithium-ion
    • Advanced Li-ion
    • Lithium Sulfur
    • Lithium Solid-state
  • Advanced Lead-Acid Batteries
  • Molten Salt Batteries
  • Flow batteries
  • Others

Global Next Generation Battery Market: Application Segment Analysis

  • Transportation
  • Stationary Energy Storage
  • Others

Global Next Generation Battery Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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