Chicago, Jan. 09, 2023 (GLOBE NEWSWIRE) — Markets N Research has recently released expansive research on Global Structural Battery Market with 100+ market data Tables, Pie Chart, and Graphs & Figures spread through Pages and easy to understand detailed analysis. The report endows with wide-ranging statistical analysis of the market’s continuous developments, capacity, production, production value, cost/profit, supply/demand and import/export. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. Teams of experienced and consummate market research professionals persistently track key industries to spot key developments, unmet needs and possible growth opportunities. A numerous markets, marketing strategies, trends, future products and rising opportunities have been considered while studying market for preparing this Structural Battery report. This market research report serves the clients by providing data and information on their business scenario with which they can stay ahead of the competition in today’s rapidly changing business environment.
The global structural battery market is expected to exhibit strong growth, reaching USD 4.68 billion by 2028. As per the report titled “Structural Battery Market Size, Share & COVID-19 Impact Analysis, By Type (Nickle-based Technology and Lithium-based Technology), By Application (Industrial, Residential, Commercial, Military, Medical and Others) and Regional Forecasts, 2022-2028” observes that the market size in 2021 stood at USD 1.5 billion and USD 4.68 billion in 2028. The market is expected to exhibit a CAGR of 20.9% during the forecast period.
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Structural Battery Market Analysis:
Due to their lower emissions, ability to be charged using renewable energy sources, and eventual reduction in electric costs, structural batteries are predicted to replace fossil fuels like gasoline and diesel in the car sector. Declining battery prices, more knowledge of zero-emission automobiles, and developments in battery technology are predicted to be the main factors driving the rising demand for structural batteries. To promote zero-emission automobiles, manufacturers are primarily concentrating on E.V. technology advancement. Recycling structural batteries and other vehicle parts can also promote a circular economy, which relies on reusable products to close the gap between mining and manufacturing. This will lessen municipal solid waste (MSW) and eventually support market growth over the forecast period.
List Of Key Companies Profiled:
- General Motors
- Contemporary Amperex Technology
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the structural battery market plan acquisitions to improve their brand recognition globally. For instance, in November 2020, a solid electrolyte will replace the liquid electrolyte in a battery cell to increase battery performance, according to an announcement by Samsung SDI.
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- Strict Emission Regulations Encourage Structural Battery Adoption to Drive Market Growth
Due to the absence of emissions from transportation and the opportunity to use and expand renewable energy sources, E.V.s have a significant pollution advantage over conventional fuel-based vehicles. Additionally, as people become more aware of climate change, regulatory agencies are now required to enact strict fuel efficiency laws and actively promote the development of E.V.s through subsidies and programs like those that support the production of battery cells. Therefore, it is anticipated that worries about vehicle emissions would spur structural battery adoption, which is likely to accelerate market growth in the next years.
- Increasing the Amount of Research and Development for Battery Improvements to Drive Market Growth
Many producers conduct research and development to provide dependable and secure structural batteries. To develop various battery chemistries, battery makers have significantly increased their R&D efforts as the globe transitions to sustainable energy. For instance, industry leaders Amprius Inc. (US) and Nexeon Corporation (UK) are working to improve structural batteries. In the upcoming years, various sectors and industries will embrace these cutting-edge silicon anode batteries.
- Concern Over the Handling and Storage of Used Batteries is Growing to Limit Market Growth
Hazardous compounds in used structural batteries include acids and heavy metals like mercury and lead. According to a report from the Environmental Protection Agency, lithium metal or lithium-ion batteries have been the cause of 254 fire occurrences at 64 water facilities. Structural batteries must be stored away from other flammable and combustible materials in watertight containers. A Class D extinguisher and sand should also be kept nearby as a safety precaution in a fire.
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Report Scope and Segmentation:
|Forecast Period 2023 to 2030 CAGR||20.9 %|
|2028 Value Projection||4.68 billion|
|Market Size in 2021||1.5 billion|
|Historical Data for||2016 – 2021|
|Segments covered||By Type, By Battery Form, By Material and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
Global Structural Battery Market Segmentations:
Global Structural Battery Market By Type:
- Embedded Batteries
- Laminated Structural Batteries
Global Structural Battery Market By Battery Form:
Global Structural Battery Market By Material:
- Carbon Fibers
- Lithium Fibers
- Lithium Oxides
Global Structural Battery Market Regional Insights:
The Asia Pacific is projected to hold the largest share of the structural battery market over the forecast period. Lithium-ion structural batteries are anticipated to increase significantly in the region due to the expanding use of electric vehicles in nations like China, Japan, and India, as well as rising urbanization, increasing power purchase parity, and strong demand for vehicles. Additionally, favorable regulations, such as energy efficiency standards, rising peak demand charges, and technological advancements, have also caused project developers to pay more attention to the commercial and industrial (C&I) sector. This is primarily due to China’s and India’s robust economic growth, which is expected to fuel the demand for lithium-ion-based energy-storing structural batteries in the area.
Further Report Findings
- The market in the Asia Pacific is expected to gain a huge portion of the global structural battery market share in the coming years due to the growing demand for electric vehicles brought on by urbanization and rising incomes in many nations, including China, India, Malaysia, and Japan.
- Demand is additionally anticipated to increase during the projection period due to the government’s emphasis on converting two- and three-wheelers into electric cars.
- In North America, the growth in this region is primarily driven by growing customer demand for environmentally friendly items and higher uptake of cutting-edge technologies.
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Structural Battery Market Report Answers the Following Questions:
- How much revenue will the Structural Battery market generate by the end of the forecast period?
- Which market segment is expected to have the maximum market share?
- What are the influencing factors and their impact on the Structural Battery market?
- Which regions are currently contributing the maximum share of the overall Structural Battery market?
- What indicators are likely to stimulate the Structural Battery market?
- What are the main strategies of the major players in the Structural Battery market to expand their geographic presence?
- What are the main advances in the Structural Battery market?
- How do regulatory standards affect the Structural Battery market?
Table of Content
Chapter 1: Preface
Chapter 2: Report Summary
Chapter 3: COVID 19 Impact Analysis
Chapter 4: Global Structural Battery Market, By Type Segment Analysis
Chapter 5: Global Structural Battery Market, By Battery Form Segment Analysis
Chapter 6: Global Structural Battery Market, By Material Segment Analysis
Chapter 7: Structural Battery Market – Regional Analysis, 2022 – 2030
Chapter 8: Structural Battery Market – Industry Analysis
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles
Chapter 11: Research Methodology
Chapter 12: Questionnaire
Chapter 13: Related Reports
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