The report titled Global Rechargeable Battery Market: Size, Trends and Forecasts (2018-2022), provides an in depth analysis of the lithium-ion rechargeable batteries by value, by volume, by application, by segment, etc.
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The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global rechargeable battery market has also been forecasted for the period 2018-2022, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The global rechargeable battery market is dominated with few major rechargeable battery makers supplying batteries worldwide. Samsung (Samsung SDI), LG Corporation (LG Chem), Panasonic Corporation and CATL, are also profiled with their financial information and respective business strategies.
A Rechargeable battery is a battery which can be recharged many times, after the battery power discharge. Unlike the primary or disposal batteries, rechargeable or secondary batteries can be used multiple times before it gets discarded. Rechargeable batteries are considered as reliable, cost effective, environment friendly and sustainable replacement of non-rechargeable batteries. A Rechargeable battery can be made by using different raw materials like cobalt, graphite, lithium and carbon.
A rechargeable battery can be used in variety of places. The most usable place for rechargeable battery is in the house where the battery is used to power devices such as mobile phones, digital cameras, music players, laptops and much more. Rechargeable batteries are also used in the defibrillators in the hospitals. Rechargeable batteries also tend to supply power to military equipments.
A recharge battery has a long history with continuously improving life span, high energy density, more environmental friendly batteries and introducing new generation batteries. The rechargeable battery market can be segmented on the basis of application, use and capacity. The global rechargeable battery (lithium-ion based) market has increased at a significant CAGR during the years 2013-2017 and projections are made that the market would rise in the next four years i.e. 2018-2022 tremendously.
The rechargeable battery market is expected to increase due to increase in mobile phone users, increase in GDP per capita, expansion in the stock of electric vehicles, more lithium demand for electric vehicles, growth in the non-IT sector, technological advancement, etc. Yet the market faces some challenges such as potential hazards of shipping lithium-ion batteries, raw material instability, overcharging problem, availability of alternatives in the market, high initial cost, etc.
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