Market Research Future published a research report on “Next-Generation Batteries Market Research Report- Forecast 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Market Research Future (MRFR) predicts the global next generation batteries market to reach USD 20200 million at a CAGR of 5.4% from 2019 to 2027 (forecast period).
As the need for next generation batteries grows, the electronics and semiconductor sectors have taken steps to provide longer and more durable batteries for commercial usage. These batteries are widely utilized in consumer electronics, electric vehicles, and the stationary storage industry. Long-lasting battery production necessitates a significant amount of effort and huge investment in order to conduct tests in conjunction with the power and energy sectors.
Nickel-metal hydride, ultracapacitors, lithium Sulphur (Li-S), magnesium ion, lithium-ion (Li), nickel-cadmium (Ni-Cd), solid electrodes, and metal-air are all used in global next generation batteries. Many commercial industries choose Li-ion batteries, which are expected to account for a sizable market share during the forecast period. Li-ion batteries are becoming more popular as they are combined with higher-capacity active materials, such as silicon-containing elements, and provide higher-voltage cathodes and electrolytes. Lithium-ion batteries, which are made of the lightest metal, are another option. It keeps more charge and is utilized in many electronic devices such as laptops, mobile phones, and cameras. Furthermore, market growth for lithium Sulphur is predicted to be slow over the projection period.
Nowadays, the customer requirement for improved drone flying time has increased next-generation battery growth. The rising electric vehicle market, increasing consumption of consumer electronic appliances, and expanding adoption of the e-mobility industry are the major main drivers in the global market. These primary driving forces have raised the demand for efficient power storage systems across the board.
Furthermore, next-generation battery storage is intended to provide commercial enterprises with a wide range of applications. As a result, the Next Generation Batteries Market is expanding, and new prospects for improved work efficiency are emerging.
Top Market Players
The top players of next-generation batteries market are listed as Sion Power (U.S.), Panasonic Corporation (Japan), Hitachi (Japan), Ambri Inc. (U.S), LG Chemicals (South Korea), Fluidic Energy (U.S.), Samsung (South Korea), Phinergy (Israel), Mitsubishi Chemical (Japan), Amprius Inc. (U.S.), Lockheed Martin (U.S.), Seeo (U.S.), PolyPlus Transfection (France), and OXIS Energy (U.K).
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Segmentation of Market
The next-generation batteries market is further differentiated by type and applications.
In terms of the type segment, the next-generation batteries market has included Ni-Cd, Li-ion, lithium-sulfur, Ni-metal hydride, solid electrodes, magnesium ion, ultra-capacitors, and metal-air.
In terms of the application segment, the next-generation batteries market has included consumer electronics, automotive, aerospace & defense, transportation, oil & gas, and industrial.
Geographically, the next-generation batteries market has been studied over various vital regions, namely Asia Pacific, North America, Europe, and the Rest of the World.
North America is presumed to be a leading region in the next-generation batteries market. The U.S. and Canada are the foremost countries as attributed to the rising awareness of electric vehicles, and regulation of government policies to persuade the use of an electric vehicle is likely to compel the market over the forecast period.
The European region is likely to expand a substantial growth in the next generation batteries market. The Asia Pacific is presumed to have considerable growth in next-generation batteries over the forecast period. Countries such as India, Japan, China, and the Republic of Korea are the leading countries in the region. Mounting the need for cost-effective and efficient batteries is anticipated to compel the market over the forecast period.
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