New York, NY -- (SBWIRE) -- 11/14/2018 -- The Global Battery market is estimated to grow at a CAGR of 6.2% from 2019 to 2026 according to a new report published by Polaris Market Research. The new report 'Battery Market [By Type (Lead Acid, Lithium-Ion, Nickel Metal Hydride, Nickel Cadmium, Others) By End-User (Automotive, Industrial, Consumer Goods, Others), By Regions]: Market Size & Forecast, 2018 – 2026' indicates that the consumer electronics segment accounted for the highest market share in 2018.

A battery is an electrochemical cell that can be charged electrically to provide a static potential for power or electrical charge when needed. Batteries are used in a variety of applications such as portable electronic equipment, home appliances, audio and video equipment, uninterruptible power supplies, and automotive. There has been a significant increase in the demand for batteries owing to the growing demand for electric vehicles.

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The growing demand for consumer electronics primarily drives the growth of the Battery market. The increasing applications in varied industries such as aerospace and defense, healthcare, and electronics have significantly promoted the growth of Battery market. There has been an increased demand of batteries from renewable energy systems, which supports the battery market growth. The increasing disposable income of consumers, and rising living standards further propel the Battery market growth.

Increasing environmental concerns have increased the demand for electric vehicles, driving the growth of the Battery industry. There has been an increased demand of batteries in emerging economies owing to development of electronics and automotive sectors. Technological advancement, and increasing government initiatives further propel the growth of the Battery industry.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Battery Market, 2018-2026. This Battery market report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

Asia-Pacific generated the highest revenue in the global battery industry in 2018. Increasing demand of batteries from industries such as healthcare, automotive, electronics, and defense, along with increasing initiatives and investments by governments in the region to support renewable energy systems and promotion of electric vehicles supports the battery market growth.

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Competitive Landscape and Key Vendors

The global Battery market is characterized by the presence of well-diversified international and small and medium-sized vendors. Leading companies are acquiring other companies, and enhancing their product offerings to improve their Battery market share. Acquisitions enable key players to increase their Battery market potential in terms of geographic expansion and expansion of customer base.

The leading companies profiled in the battery market report include BYD Company Limited, Duracell, Eveready Industries, Johnson Controls, Exide Technologies, LG Chem Limited, Sony Corporation, NEC Corporation, Panasonic Corporation, Toshiba Corporation, Samsung SDI Company Limited, and EnerSys.

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Key Segments

Type

- Lead Acid
- Lithium-Ion
- Nickel Metal Hydride
- Nickel Cadmium
- Others

End-User

- Automotive
- Industrial
- Consumer Goods
- Others

Region
- North America

o U.S.
o Canada
o Mexico

- Europe

o Germany
o UK
o France
o Italy
o Rest of Europe

- Asia-Pacific

o China
o India
o Japan
o Rest of Asia-Pacific

- Latin America

o Brazil
o Rest of Latin America

- Middle East and Africa

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