Consumer Battery Market to grow by USD 9.7 Bn by 2026, Supportive government regulations to boost market growth - Technavio
NEW YORK, Oct. 26, 2022 /PRNewswire/ -- The Consumer Battery Market report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the consumer battery market between 2021 and 2026 is USD 9.7 billion. 36% of the growth will originate from North America. Request Free Sample Report.
Key Market Dynamics:
One of the main factors driving the market expansion is supportive government legislation. Lithium-ion batteries and battery-operated items are not permitted in checked luggage or onboard flights. These gadgets need to be shielded against heat production and unintentional activation. With the airline's permission, passengers may additionally bring up to two bigger Li-ion batteries.
For instance, safety requirements for primary, secondary, and lithium batteries have been established by the National Electrical Manufacturers Association (NEMA) in the US. Lithium batteries must comply with all Hazardous Materials Regulations (HMR) when transported by air, highway, rail, or sea. These factors will support market growth during the forecast period. However, the factor restricting the market growth is the growing environmental concerns. Download Free Sample Report.
North America will contribute 36% of market growth. The United States is the most important market in North America for consumer batteries. The increasing disposable income of people and spending on consumer electronics will aid the growth of the consumer battery market in North America over the forecast period. The residential market's consumer battery market share will expand significantly during the forecasted period. Leading companies in the consumer battery market have been spending money on R&D initiatives to improve performance while also lowering battery costs. This cost reduction would accelerate the use of Li-ion batteries in the residential sector during the forecasted period.
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Consumer Battery Market: Vendor Insights
The market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete.
The increasing market competition is compelling vendors to implement various growth strategies such as promotional activities and advertising spending to increase the visibility of their services. To remain competitive in the market, some vendors are pursuing inorganic growth strategies such as mergers and acquisitions.
The report analyzes the market's competitive landscape and offers information on several market vendors, including Electrochem Automation Inc, EVE Energy Co. Ltd., Eveready Industries India Ltd., FDK Corp., GP International Ltd, Jiangmen TWD Technology Co. Ltd, Johnson Controls International Plc, Maxell Ltd, Murata Manufacturing Co. Ltd., Panasonic Industry Co. Ltd., Poly Plus Battery Co., Renata SA, Samsung SDI Co. Ltd., Shenzhen PKCELL Battery Co. Ltd, Suzhou South Large Battery Co. Ltd., The BYD Motors Inc., Toshiba Corp., Ultralife Corp., VARTA Microbattery GmBH, and Duracell Inc.
Major Consumer Battery Market Vendor with key Offerings
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
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