Global Next-generation Battery Market 2016-2020

Global outlook of the next-generation battery market

Technavio’s market research analysts predict the global next-generation battery market to grow steadily during the forecast period and post a stupendous CAGR of more than 71% by 2020. This industry research report identifies growing investments towards renewable energy production to be one of the major factors that will have a positive impact on the growth of this market in the coming years. With the increased awareness towards the reduction of carbon emissions from power plants and the rise in demand for energy, governments across the globe have started focusing on the development of alternate sources for power generation. However, renewable energy sources generate seasonal power which will induce the utilities sector to use energy storage systems to capture the excess energy and supply cleaner power to end-users. This demand for energy storage systems will increase investments towards the development of next-generation batteries, in turn, propelling the market’s growth prospects.

With the increasing demand from utilities, the market will witness an exponential increase in the number of vendors and collaborations. With increased funding from investors, battery manufacturers will start concentrating on collaborating with other companies to develop advanced energy storage systems. This will help companies to differentiate their offerings with innovative products and in turn, improve their revenue shares. The acquirement of Li-S technologies provider Sion Power by LG Chem and the partnership between Europe-based Sonnenbatterie and the US-based SK Solar to launch LFP battery systems in the US, are some of the major vendor collaborations the market has witnessed in the recent years.

Competitive landscape and key vendors

The market is currently at the developing stage and is characterized by the presence of several battery companies across the world. With a number of small and well-established players competing for a significant revenue share, the market is highly competitive. The introduction of new technologies that will lead to increased investments towards the development of new products will intensify the level of competition among the market players. Additionally, the rising need for energy-efficient technologies will also induce vendors to innovate and enhance their offerings, which will further intensify the market’s competitive environment. To increase their market shares and establish their presence in the market, several vendors have started following effective strategies such as M&As and partnerships and are also concentrating on effective product launches.

The leading vendors in the market are -

• Sion Power
• Seeo
• OXIS Energy
• Fluidic Energy
• GS Yuasa

The other prominent vendors in the market are 24M, Ambri, Hitachi, TESLA, Samsung, Panasonic, Sakti3, Primus Power, EnerSys, AES Energy Storage, Alevo, BYD, and Samsung SDI.

Segmentation by application and analysis of the next-generation battery market

• Transportation
• Grid storage
• Consumer electronics

Due to the constant increase in the demand for high-performance battery packs from the electric vehicle market, the transportation segment accounted for the major shares and dominated the market during 2015. The increasing adoption of electric vehicles in several countries across the globe and subsidies such as tax exemption from the governments of countries such as China and India for electric vehicle buyers will drive the growth of the market in the next four years.

Geographical segmentation and analysis of the next-generation battery market

• Americas
• APAC
• EMEA

This market research and analysis estimates that in terms of geographical regions, the Americas will be the major revenue contributor to the market throughout the next four years. This is mainly attributed to the increased funding from investors in the next-generation battery market towards the development of innovative products. Moreover, the rise in adoption of electric vehicles and the increased dependence on the transportation sector in countries such as the US on battery storage systems will boost market growth in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global next-generation battery market?
• What are the key market trends impacting the growth of the global next-generation battery market?
• What are the challenges to market growth?
• Who are the key vendors in the global next-generation battery market?
• What are the market opportunities and threats faced by the vendors in the global next-generation battery market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global next-generation battery market?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global Primary Battery Market 2016-2020
• Global Solar Batteries Market 2016-2020
• Global Grid Scale Energy Storage Market 2016-2020