The global market for battery materials is expected to expand at a CAGR of 16.3% during the forecast period of 2022 to 2030. The market for battery materials is expected to experience significant expansion in the coming years as a result of the rising demand from a variety of applications, including electric vehicles (EVs), portable devices, electronics products, and industrial settings. Opportunities may be found in a variety of industries, including consumer electronics, industrial manufacturing, and transportation, which all point to a bright future for the market for battery materials.
The global polymer solar cells market accounted for US$ 82.4 Mn in 2021 and is anticipated to grow to US$ 383.8 Mn growing at a CAGR of 21.2% during the forecast period from 2022 to 2030.
The global grid-scale battery market is growing competently, expected to grow at a CAGR of 20.0% during the estimated period from 2022 to 2030, starting from US$ 3.55 Bn in 2021. Grid-scale battery storage systems will play a vital role in aiding the next stage energy transition towards renewable systems. The battery storage systems offer grid services like regulation reserves, frequency response, and ramp rate control.
The global automotive battery management system market is poised to reach US$ 15.33 Bn by 2030, expanding at a CAGR of 14.2% during the forecast period from 2022 to 2030. An increasing number of electric mobility, technological advancement with substantial cost cut, government policy supports and awareness towards environmental concerns is expected to drive the market for the global automotive battery management system market.
The global power tool batteries market is poised to reach US$ 58.94 Bn by 2030, expanding at a CAGR of 7.10% during the forecast period from 2022 to 2030. Increase in number of construction and infrastructure projects, rapid growth in automobile sector, and growing adoption of power tools are identified as the major factors driving demand for power tool batteries worldwide.
Superior properties of silicon anode battery gives a promising future for battery operated electronics devices and electric vehicles. Silicon anode batteries have higher energy storage capacity and longer battery life than contemporarily used Li-ion battery. These features of silicon anode battery made it suitable for its application in smartphones, tablets, laptops, cameras, pacemakers and electric vehicles. With the expected launch of 5G cellular network technology in late 2020, the demand for smart devices will soar high.
Battery Technology Market Research Reports
Batteries are considered as the most significant and prolific parts of any industrial sector. In current years, there has been a simultaneous and virtual growth in the accessibility of battery powered products which have substantially extended the growth of the battery technology market industry.
Battery Technology has gone a long way in the industry. In modern times, this battery industry examines different battery designs, materials & components of batteries and innovations that has the ability to transform the energy storage sector to its completest.
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Our report also consists of the macro and micro economic aspects necessary for the existing market participants as well as the new market entrants assisting them in taking correct business decisions which would help in expanding their business.
