Overview of the global deep cycle batteries market
The global deep cycle batteries market is anticipated to grow at a steady rate and will post a CAGR of more than 4% during the forecast period. The growing demand for electric forklift applications will drive the growth prospects for the global deep cycle batteries market until the end of 2021. Some of the major end users of battery-powered forklifts are retail and wholesale, logistics, mechanical or automotive, food and beverages, chemical, and timber or paper and print industries. Furthermore, some of the major factors responsible for the growing preference for electric forklifts among these end-users is its low emission and noise hazard characteristics, longer lifespan, and the elimination of fuel costs.
In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market in the forthcoming years. Some of the major factors responsible for the market’s growth in the region is the growing demand for batteries in developing countries such as China and India along with the batteries offered by local manufacturers at a lower price.
Competitive landscape and key vendors
The global deep cycle batteries market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. Some of the major challenges faced by these vendors are intense competition, rapid advances in technology, frequent changes in
Overview of the global battery market for point of sale (POS) terminals
Technavio’s market research analysts predict the global battery market for point of sale (POS) terminals to grow steadily at a CAGR of above 9% by 2021. One of the primary drivers for this market is the growing regulatory intervention on secure payments. Various instances of financial fraud have forced countries to set stringent regulations with respect to security standards. Regulatory bodies have imposed a rule for the recertification of electronic payment systems employed by merchants and retailers. In the US, the EMV liability shift policy mandates that the issuers and merchants should adopt EMV technology standards, failing which they will be liable to fraud charges in the case of any fraudulent transaction. In order to protect themselves, the merchants need to obtain verification certifications for their electronic systems employed. These certifications should be obtained from financial institutions, card associations, and payment processors. This regulation has compelled the majority of retailers to upgrade their existing POS systems to new ones that will help them to comply with the terms. As a result, these mandates have induced growth in the global battery market for POS terminals.
In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. The increased preference toward non-cash payment methods is the key contributor for the dominance of the battery market for POS terminals in the region. This trend has compelled the merchants in the region to attach high significance to information management and provide a safe and secure
Overview of the global batteries market for smart wearables
The global batteries market for smart wearables is anticipated to grow rapidly and will post a CAGR of close to 29% during the forecast period. The increasing demand for wearable lifestyle devices will drive the growth prospects for the global batteries market for smart wearables in the coming years. Some of the benefits of smart wearables are daily monitoring of fitness and health activities, accessibility to music, virtual or 3D videos, virtual games, accessibility to social networking websites such as Facebook, LinkedIn, and Twitter, and tracking and controlling of health conditions to reduce the risk of diseases. Also, several vendors are encouraged to invest heavily in research and developmental activities to foster the development of innovative products, which will improve the market revenue during the forecast period. Furthermore, the smart bands allow patients and consumers to connect with doctors and share their activities to receive a timely diagnosis.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market until the end of 2021. One of the major factors responsible for the market’s growth in the region is the increased research and funding received from investors in the battery market. Some of the countries that contribute the maximum revenues in the region are US, Canada, and Mexico, where the US is the largest contributor because it is a tech savvy and has
Overview of the global start-stop battery market
The global start-stop battery market is anticipated to grow rapidly and will post a CAGR of close to 21% during the forecast period. The increasing number of stringent emission regulations will drive the growth prospects for the global start-stop battery market for the next four years. According to the industry research report, to prevent the emission of harmful gasses such as nitrogen oxide (NOx), sulfur oxide (SOx), hydrocarbons, carbon monoxide, and particle matter (PM), the auto regulators across the globe have been setting emission targets. For instance, countries such as the US and China have also set targets to reduce their GHG emissions by 15%-20% by 2020. A large number of regions worldwide are also taking steps to cut down on the amount of emissions produced drastically by automobile industries. In addition, with the increasing adoption of electric vehicle (EVs) and hybrid electric vehicle (HEVs), the use of power and fossil fuels in transportation system is increasing. Moreover, the long shelf life of lithium iron phosphate batteries has increased the demand for these batteries in the EV and HEV industry.
In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market until the end of 2021. One of the major factors responsible for the market’s growth in the region is the increasing demand for
Overview of the battery recycling market
Extensive research carried out by the analysts at Technavio has shown that the global battery recycling market will witness impressive growth at a CAGR of close to 11% during the forecast period. The widening gap in the supply and demand of lithium is one of the primary factors boosting the battery recycling market. Although there is an adequate supply of lithium available globally, almost 70% of the global lithium reserves are found in the South American countries. Most of these countries have an unsteady government, which significantly affects the supply. Moreover, there is an augmented demand for lithium across different sectors including pharmaceuticals, construction, glass, and ceramic. Owing to the wide range of applications of lithium, many OEMs and automotive manufacturers have started collaborative steps to safeguard their needs. The sharp increase in demand for lithium metal is expected to propel the requirement for lithium battery recycling processes in the coming years.
In terms of geography, EMEA dominated the market and will continue to lead the market in the coming years. The growth of this market in the region is attributed to the rise in support from government bodies regarding the implementation of battery recycling processes. These mandates have been introduced to overcome the pollution caused by improper battery disposal. The increasing use of batteries and their improper disposal have increased concerns about soil and water pollution, which will boost the growth of the battery recycling market during the predicted period.
Overview of the global building integrated photovoltaics (BIPV) market
Market research analysts at Technavio predict that the global BIPV market will grow steadily during the next four years and post a CAGR of almost 10% by 2021. This market research analysis identifies the need to reduce energy costs as one of the primary growth factors for the adoption of BIPV panels. With the need to function continuously and use various equipment to maintain their in-house operations, the utilities sector faces a constant demand for electricity from commercial buildings, healthcare facilities, and manufacturing plants. The rise in electricity prices increases the operational cost of such facilities, which will induce them to adopt energy management solutions such as the adoption of integrated PV panels to reduce their energy expenses.
This market research and analysis estimate that in terms of geographical regions, EMEA was the major revenue contributor to the building integrated PV market during 2016. This mainly attributed to the increased investments in several countries in the region, especially Germany. The rise in demand for BIPV installations from the power utilities and residential sector, which are the major end-users in this region will fuel market growth in the coming years. Additionally, the introduction of favorable policies towards the installation of photovoltaic systems by the governments of several countries such as Belgium, Denmark, Greece, and the UK will also drive the market’s growth prospects during the predicted period.
Competitive landscape and key vendors
The energy storage industry has evolved over the last decade to address the growing demand for power. Energy storage includes pumped hydro, compressed air energy storage, batteries, flywheels, fuel cells, superconducting magnetic energy storage, thermal energy storage, and grid energy storage.
Many countries are becoming more conscious about meeting their carbon emission targets and focusing more on renewable energy options. Batteries are gaining importance as they help store energy from renewable sources, thereby overcoming issues with the intermittent nature of renewables.
In the past two years, energy storage has gained even more traction as nations integrate battery energy storage systems with renewable technologies to secure a stable power supply. As a result, a number of international companies, such as Tesla, Panasonic, and Samsung, are investing heavily in the energy storage segment.