February 8, 2023
Trending Tags

Over 11%, CAGR, Secondary Battery Market

Read Time:5 Minute, 9 Second

With the continuous rise in global energy demand, clean energy initiatives, and subsidies for power generation using sustainability, the use of renewable energy sources such as solar and wind energy has also increased. The intermittent power generation from renewable sources of energy will increase the need for solutions such as battery energy storage in both grid and off-grid locations. Thus, the rise in the use of renewable energy will fuel the demand for secondary batteries during the forecast period.

Browse Summary of the SECONDARY BATTERY MARKET Research Report to Learn More

Secondary Battery Market 2020-2024: Segmentation

  • Technology
    • Lead-acid
    • Lithium-ion
    • Others

Lead-acid batteries are cost-effective compared to other battery technologies. The increase in industrial and construction activities, high adoption of battery technology in the automotive industry and UPS applications, and growing adoption of EVs are some of the factors driving the growth of the secondary battery market in this segment.

  • Geography
    • APAC
    • Europe
    • MEA
    • North America
    • South America

Almost 64% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for secondary batteries in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Secondary Battery Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our report covers the following areas:

Secondary Battery Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist secondary battery market growth during the next five years
  • Estimation of the secondary battery market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the secondary battery market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of secondary battery market vendors

Related Reports:

Browse Summary of the SECONDARY BATTERY RECYCLING MARKET Report by Type and Geography – Forecast and Analysis 2020-2024: The market value is set to grow by USD 5 billion, progressing at a CAGR of almost 7% from 2019 to 2024, as per the latest report by Technavio. This secondary battery recycling market report further entails segmentations by Type (Lead-acid battery, Li-ion battery, and Others) and Geography (APAC, Europe, North America, South America, and MEA).

Browse Summary of the BATTERY RECYCLING MARKET Report by Battery Chemistry, Battery Source, and Geography – Forecast and Analysis 2021-2025: The market value is set to grow by USD 6.28 billion, progressing at a CAGR of 9% from 2020 to 2025, as per the latest report by Technavio. The battery recycling market report also offers information on several market vendors, including Accurec Recycling GmbH, Battery Solutions LLC, Call2Recycle Inc., and more

Secondary Battery Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 11%

Market growth 2020-2024

$ 55.62 billion

Market structure


YoY growth (%)


Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

APAC at 64%

Key consumer countries

China and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

BYD Co. Ltd., Clarios, Contemporary Amperex Technology Co. Ltd., East Penn Manufacturing Co. Inc., Exide Technologies, GS Yuasa Corp., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd., and Tesla Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization preview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio “UTILITIES MARKET” Research Reports

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Five Forces Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Technology

  • Market segments
  • Comparison by Technology placement
  • Lead-acid – Market size and forecast 2019-2024
  • Lithium-ion – Market size and forecast 2019-2024
  • Others – Market size and forecast 2019-2024
  • Market opportunity by Technology

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • North America – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver – Demand led growth
  • Volume driver – Supply led growth
  • Volume driver – External factors
  • Volume driver – Demand shift in adjacent markets
  • Price driver – Inflation
  • Price driver – Shift from lower to higher priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • BYD Co. Ltd.
  • Clarios
  • Contemporary Amperex Technology Co. Ltd.
  • East Penn Manufacturing Co. Inc.
  • Exide Technologies
  • GS Yuasa Corp.
  • LG Chem Ltd.
  • Panasonic Corp.
  • Samsung SDI Co. Ltd.
  • Tesla Inc.


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

Source link

0 %
0 %
0 %
0 %
0 %
0 %
Previous post ‘Poor Sports’: San Francisco 49ers Safety Jimmie Ward on Why Los Angeles Rams Handled Things ‘The Wrong Way’
Next post ND FOOTBALL: Buchner feeling confident heading into first career start | Sports