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LONDON, GREATER LONDON, UK, March 30, 2020 /EINPresswire.com/ — The global secondary batteries market is expected to grow at a rate of about 12.3% and reach $91.88 billion by 2023. Increasing demand for electric vehicles will positively impact the secondary batteries market. Secondary batteries are increasingly being used in hybrid vehicles. However, stringent government regulations for secondary batteries manufacturing hinders the growth of the market.
The secondary batteries market consists of sales of secondary batteries and related services that are used in portable devices, electronics, and motor vehicles. Secondary batteries are electrical batteries which can be charged, discharged and recharged multiple times. Secondary batteries include Lithium-ion, lead-acid, Nickel Metal Hydride (NiMH) based secondary batteries. Secondary batteries are highly cost-efficient in the long term and are environment friendly.
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The global secondary batteries market is further segmented based on type and geography.
By Type – The secondary batteries market is segmented into lead acid, lithium-ion (Li-ion), nickel metal hydride, and others.
By Geography – The global secondary batteries is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific secondary batteries market accounts for the largest share in the global secondary batteries market.
Trends In The Secondary Batteries Market
Recent developments in NiMH battery manufacturing has improved the lifespan of nickel-metal hydride batteries. The electro positivity of the A-elements makes them easy to be corroded in the alkaline electrolyte used in NiMH batteries. A thin protective layer is used on alloy particles to improve reaction kinetics and corrosion stability of conventional NiMH batteries.
Potential Opportunities In The Secondary Batteries Market
With increase in demand for electric vehicles and emerging markets growth, the scope and potential for the global secondary batteries market is expected to significantly rise in the forecast period.
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Major players in the market are BYD Company Ltd., Samsung SDI Co. Ltd., LG Chem Co. Ltd., Johnson Controls, Amperex Technologies Ltd., Energizer Holdings, Inc., Panasonic Corporation, Aquion Energy, Battery Technology Inc., and Beckett Energy Systems.
Secondary Batteries Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides secondary batteries market overviews, analyzes and forecasts secondary batteries market size and growth for the global secondary batteries market, secondary batteries market share, secondary batteries market players, secondary batteries market size, secondary batteries market segments and geographies, secondary batteries market trends, secondary batteries market drivers and secondary batteries market restraints, secondary batteries market’s leading competitors’ revenues, profiles and market shares. The secondary batteries market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Secondary Batteries Global Market Report 2020 from The Business Research Company for information on the following:
Markets Covered: global secondary batteries market
Data Segmentations: secondary batteries market size, global and by country; historic and forecast size, and growth rates for the world, 7 regions and 12 countries
Secondary Batteries Market Organizations Covered: BYD Company Ltd., Samsung SDI Co. Ltd., LG Chem Co. Ltd., Johnson Controls, Amperex Technologies Ltd., Energizer Holdings, Inc., Panasonic Corporation, Aquion Energy, Battery Technology Inc., and Beckett Energy Systems
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Time Series: Five years historic (2015-19) and forecast (2019-23)
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Other Information And Analyses: PESTEL analysis, secondary batteries market customer information, secondary batteries market product/service analysis – product examples, secondary batteries market trends and opportunities, drivers and restraints, key mergers and acquisitions, key metrics covered: number of enterprises, number of employees, global secondary batteries market in 2020 – countries offering most new opportunities
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Secondary Batteries Industry: The report explains a number of strategies for companies in the secondary batteries market, based on industry trends and company analysis.
Opportunities For Companies In The Secondary Batteries Sector: The report reveals where the global secondary batteries industry will put on most $ sales up to 2023.
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Source: EIN Presswire