Market research Future Battery Market Segmentation, Size & Top Key Player | Page 2

Global Battery Market Research Report- Forecast to 2023
1 Summary
Batteries provide the electric energy to automobiles for starting, lighting and ignition. The rising demand
of hybrid, semi-hybrid and fully electric vehicles will drive the global battery market. Also, the adoption
rate of these batteries in passenger vehicle is increasing, which will drive this market. Recent innovations,
which provide for high-efficiency and longer power back-up in smartphones/ tablets and PCs enable this
technology to reach a wider range of audiences. Emerging technologies such as flexible batteries and
aluminum-ion batteries, are expected to increase the competition. The high purchase price creates a major
limitation for the consumers to adopt lithium battery into their devices or systems. Safety issues related to
battery usage may hamper the growth of global battery market, which otherwise has been projected to grow
at 4% in the next five years.
Key Players:
The leading players in the battery market are Exide Technologies (U.S.), Douglas Battery (U.S.), Penn
Manufacturing Company, Inc.(U.S.), Johnson Controls Inc(U.S.), The Furukawa Battery Co. ltd (Japan),
Zhejiang Haijiu Battery Co. Ltd (China), Chaowei Power Holding ltd (China), CamelGroup (Italy) and
Fengfan Co. Ltd.(China)
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