The growing use of secondary batteries in the consumer electronics, rising inclination toward electric vehicles (EVs), and energy storage solutions are the key factors boosting the research on secondary batteries. These batteries confer higher energy-efficiency and extended battery. Presently, computer electronics, smartphones, tablets, and other consumer electronic devices are powered by secondary batteries, especially lithium-ion batteries. Advanced energy storage technologies are playing pivotal role in the decarbonization of modern economies. Over the last few years, these technologies have been instrumental in the evolution of the energy, automotive, and electronics industries. Irrespective of the existence of technologies such as pump-hydro, compressed air, and flywheels, secondary battery technologies have provided the energy and power solutions to meet the technical demands of these sectors.
In the automobile industry, various passenger cars and commercial vehicles are in the development phase. The availability of advanced secondary battery technologies has encouraged automotive OEMs to adopt lead-acid and lithium-ion batteries. Various developing countries in APAC and South America, such as India, China, and Brazil, play a crucial role in the growth of the automotive industry. Also, APAC is home to factories of several automotive players, whereas various APAC companies are proceeding with battery production projects in Europe. For instance, Terra E Holding (Germany), LG Chem (Poland), Northvolt (Sweden), and SK Innovation (Hungary) have announced their respective lithium battery projects with battery cell production requiring lithium supply.
AMPEREX TECHNOLOGIES LTD, BYD CO. LTD, ENERSYS, GS YUASA CORPORATION, LG CHEM LTD, PANASONIC CORPORATION, SAFT GROUPE S.A, AND SAMSUNG SDI CO – PROMINENT MARKET PARTICIPANTS IN SECONDARY BATTERY MARKET
The secondary battery market is segmented on the basis of technology, application, and geography. The market based on technology is segmented into the lead-acid secondary batteries, lithium-ion secondary batteries, and other technologies. On the basis of application, the market is segmented into automotive, industrial, portable batteries, medical devices, forklifts, and others. The global secondary battery market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM).
Amperex Technologies Ltd, BYD Co. Ltd, Contemporary Amperex Technology Co. Limited, Duracell Inc., Enersys, GS Yuasa Corporation, LG Chem Ltd, Panasonic Corporation, Saft Groupe S.A, and Samsung SDI Co. Ltd are among the key players profiled during this market study. In addition to these players, several other important market players were studied and analyzed during the course of this market research study to get a holistic view of the global secondary battery market and its ecosystem.
Most of the market initiatives were observed in Asia Pacific, which has a high potential for secondary battery providers. Few of the important market initiatives from the industry are mentioned below:
| Year | News | Country |
| 2020 | BYD Company Limited has collaborated to offer its products to Ford automobile company. BYD has offered electric vehicle components such as batteries and power management devices. | Asia Pacific |
| 2020 | BYD Company Limited has commenced a 24GWh power battery factory in China. The company is estimated to surge its production capacity to 60GWh by the end of 2020. It is the third battery factory in China after Shenzhen and Huizhou. | Asia Pacific |
