At a CAGR of 5.6%, Next Generation Batteries Market Size Worth USD 20.84 Billion by 2027

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According to the most recent analysis by Emergen Research, the worldwide next-generation battery market is anticipated to reach a market size of USD 20.84 billion at a consistent CAGR of 5.6 percent in 2027. This consistent sales growth can be attributed to OEMs like the BMW Group, Volkswagen, and Daimler increasing their investments in the production of more effective and affordable batteries. The global market for next-generation batteries is anticipated to rise as research and development efforts for enhanced batteries with better fire resistance, longer life spans, and faster charge rates increase. Major battery manufacturers are making major investments in the creation of safe, high-power battery technologies that use three-dimensional architectures with dense solid electrolytes and electrodes.

Devices that store energy include batteries. The majority of batteries used nowadays are lithium-ion ones. Next-generation batteries have been created as a result of the need for longer, more cost-effective batteries for commercial use brought on by advancing technology and a rise in the use of electronic devices. Rechargeable poly-lithium-particle batteries, stream batteries, and propelled lead-corrosive batteries are examples of next-generation batteries.

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Key Highlights of Report

  • In 2019, the consumer electronics sector held the biggest market share at 42.9%. Consumer electronics industry demand for sophisticated next generation batteries is being further driven by rising spending power of consumers in developing economies, which has led to an increase in the demand for electronic products.
  • The electrification of the transportation system is becoming more and more popular, and a number of government regulations have sped up the adoption of electric cars, directly promoting the development of next-generation advanced batteries in the transportation industry. ​
  • In 2019, North America contributed the greatest revenue share to the market for next-generation batteries worldwide.
  • Key players in the market include Sion Power Corporation, Panasonic Corporation, Hitachi, Ambri Inc., NantEnergy Corporation, Phinergy, LG Chemicals, Samsung, Mitsubishi Chemical and Amprius Inc.

Emergen Research has segmented the global next generation batteries market on the basis of end-use, type, and region:

End-use Outlook (Revenue, USD Billion; 2020–2027)

  • Transportation
  • Energy Storage
  • Consumer Electronics
  • Industrial
  • Others

Type Outlook (Revenue, USD Billion; 2020–2027)

  • Nickel cadmium
  • Lithium ion
  • Magnesium ion
  • Lithium Sulphur
  • Solid Electrodes
  • Ultra-capacitors
  • Metal air
  • Nickel metal hydride

Regional Outlook (Revenue, USD Billion; 2020–2027)

  • North America
    1. S.
    2. Canada
  • Europe
    1. Germany
    2. K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

To get leading market solutions, visit the link below: 

https://www.emergenresearch.com/industry-report/next-generation-batteries-market

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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