Global Battery Market Is Expected To Grow At a Cagr Of 4.15% during the Forecast Period

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The report " GLOBAL BATTERY MARKET”: Segmentation By Type (Alkaline Battery, Deep Cycle Lead Acid, Starter Battery and Others); By Category (Primary Battery and Secondary Battery);By Application (General Aviation and Commercial Aviation) & By Geography (Asia Pacific, North America, Europe, Middle East and Africa, South America), By Company Profile, Forecast (USD Billion) and Estimation 2018-2024. The Global Battery Market size is expected to reach $17.26 Billion by 2024 at a CAGR of 4.15%. A battery consists of one or more electrochemical cells, which transform stored chemical energy directly into electrical energy. Download a Free sample report @ https://www.envisioninteligence.com/industry-report/global-battery-market/ Lithium-ion battery is expected to rise during the forecasting period Based on type the global battery market is segmented intoalkaline battery, deep cycle lead acid, lithium ion batteryand some others. Lithium-ion battery has led the global battery market size due to the global increase in electric as well as plug-in hybrid vehicle production. As per the global battery market report, the inception of electric vehicles, the number of OEMs manufacturing electric vehicles has increased seven times and the number of models has increased almost nine times.The lithium-ion battery has become the more sought-after alternative to nickel-metal batteries for electric vehicles, partially due to its lighter weight and smaller size in global battery market 2017. Secondary batteries dominated the global battery market growth Based on the category, global battery market is segmented into primary and secondary battery. According to global battery market overview, Secondary batteries segment has the highest market share as they can be recharged many times, cumulative service is much longer than primary battery only a fraction of the solid waste is generated and a solid waste reduction of 90% and more is possible. The power density, recharge time, safety, cost, and other aspects of its technology are expected to continue to improve. The application segment includes general aviation and commercial aviation. Commercial aviation has the largest share according to the battery industry statistics and projected to grow during the forecasting period.Increasing population and subsequent change in demand for vehicle has increased countries like India and U.S are booming the electric vehicle battery market. According to the envision inteligence battery market outlook, global battery market has been segmented into North America, Asia-Pacific, Middle East and Africa, and Europe. Asia Pacific is a major consumer of batteries due to the rising automobile production coupled with rapid industrialization generating high demand. Countries like India and China are key manufacturing countries in the consumer electronics segment owing to the availability of skilled labour and low production and setup costs. North America and Europe are expected to witness significant growth on account of rising electric vehicle production. The Prominent players in the global battery market are Exide Technologies (U.S.), Johnson Controls Inc. (U.S.), GS Yuasa (Japan), Robert Bosch GmbH (Germany), and Saft Groupe S.A. (France) among others.