Global Advanced Batteries Market: Overview
Highly sophisticated battery technologies will be indispensable in the near future due to the increasing need for more efficient, durable, and cost-effective technologies to meet the soaring demand for energy worldwide. Advanced battery technologies such as lead-acid batteries, sodium sulfur batteries, advanced flow batteries, lithium ion, lithium polymer, and sodium metal halide batteries can be some of the key segments based on technology.
The report discusses key trends and major opportunities prevalent in the market. It also includes a detailed assessment of deterrents restraining the market’s trajectory. Profiles of the most prominent companies operating in the global advanced batteries market are included in the market study. It also presents insights into their competitive business strategies, collaborations, merger, and acquisitions along with estimating market shares held by individual and topmost players.
Global Advanced Batteries Market: Drivers and Restraints
The advanced batteries market is driven by growing concerns about carbon emissions and increased awareness about using energy efficient devices. An increase in activities such as combustion of oil, natural gas, and coal, deforestation, and industrial activities such as cement production are responsible for the atmospheric concentration of carbon dioxide. This is a key factor fuelling the demand for advanced batteries. As these devices offer generation asset enhancement, grid flexibility, safety, and efficiency, the demand for advanced batteries is likely to witness a surge.
Moreover, the increasing application of advanced batteries across diverse industries has been fuelling the growth of the advanced batteries market. Advanced batteries are deployed in locomotives, lift trucks, EVs, PHEVs, and HEVs, submarines, cars, wheel chairs, trucks, buses, power tools, and toys. Portable devices such as radios, laptop computers, camcorders, mobile phones, electric watches, calculators, and flashlights use advanced batteries. In the military and aerospace sector, emergency power, munitions, communications, satellites, and robots are in-built with advanced batteries. Therefore, the wide range of application of advanced batteries will ensure expansion of the global advanced batteries market.
On the contrary, the relative high costs of advanced batteries and ambiguous regulatory frameworks might keep lid on the growth of the market. Nevertheless, significant opportunities are likely emerge from the electric vehicles segment, as several manufacturers are developing more powerful, lighter, durable, more reliable, and cheaper batteries.
Global Advanced Batteries Market: Regional Outlook
Based on geography, the global market for advanced batteries has been broadly segmented into Europe, Asia Pacific, North America, and the Rest of the World. North America, led by the U.S., is expected to exhibit considerable growth over the forecast period. With increased public investments in grid modernization and zealous carbon reduction goals, Europe has also been exhibiting a steadily rising demand for advanced batteries. Germany appears to be a promising arena for further expansion as encouragement from extensive research, technological advancements, and conferences such as the ‘Advanced Battery Power- Kraftwerk Batterie’ held in March 2017 continues to swarm in.
The region of Asia Pacific is slated to prosper to achieve significant share in the global advanced batteries market as the costs of advanced batteries are gradually going downhill. The growth in this region can be attributed to the growing demand from countries such as Japan, India, and China.
Companies Mentioned in the Report
Some of the major companies operating in the global advanced batteries market are Samsung, Sanyo, Motorola, Sony, Nippon Chemicals, Kodak, Honda, Olympus, Siemens, Fujifilm, Maxell, Nikon, and FMC Lithium.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.