Battery Market Growth Credited to EV Battery Manufacturing Incentives
As per a new market research report launched by Inkwood Research, the Global Battery Market is expected to grow at a CAGR of 16.45% during the forecasting period, 2024-2032.
Refer to the Report Summary Here: https://inkwoodresearch.com/reports/battery-market/? utm_source=PaidPRNew&utm_medium=OpenPR&utm_campaign=InkwoodPR
This insightful market research report by Inkwood Research focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies. The report covers all the aspects of this comprehensive market by assessing major geographies and is a valuable asset for existing players, new entrants, and future investors. The study presents a detailed market analysis, with inputs derived from industry professionals across the value chain.
The United States battery market is set to progress with a CAGR of 14.33% across the forecasting years from 2024 to 2032.
Here's a link to our Country Report Summary: https://inkwoodresearch.com/reports/united-statesbattery-market/
Global Battery Market Scenario
The growth of the battery market is significantly attributed to incentives in electric vehicle (EV) battery manufacturing. Governments worldwide are increasingly providing subsidies and incentives to bolster domestic production of EV batteries. These initiatives aim to reduce dependence on imported batteries, enhance supply chain resilience, and accelerate the transition towards sustainable transportation. Such incentives typically include financial support, tax breaks, and regulatory advantages, encouraging investments in advanced battery technologies and manufacturing infrastructure.
For instance, the United States Department of Energy, in 2022, announced a $3 billion program for battery manufacturing as well as supply chain in order to support the transition to electric vehicles. This concerted effort not only supports the burgeoning EV market but also drives innovation in battery technology, making electric vehicles more accessible and environmentally sustainable globally.
The Global Battery Market report provides data tables and includes charts and graphs for visual analysis.
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Market Segmentation
Market by Type:
Primary Battery
Secondary Battery
Market by Technology:
Flow Battery
Sodium-Sulfur (NAS) Battery
Nickel-Cadmium Battery
Nickel Metal Hydride Battery
Nickel-Zinc (NiZn) Battery
Zinc-manganese Dioxide Battery
Small Sealed Lead-acid Battery
Lead-Acid Battery
Lithium-Ion Battery
Other Technologies
Market by Application:
SLI Batteries
Portable Batteries
Automotive Batteries
Industrial Batteries
Power Tools Batteries
Other Applications
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Report Highlights
- The report provides a detailed analysis of the current and future market trends to identify the investment opportunities
- Market forecasts till 2032, using estimated market values as the base numbers
- Key market trends across the business segments, regions, and countries
- Key developments and strategies observed in the market
- Market dynamics such as drivers, restraints, opportunities, and other trends
- In-depth company profiles of key players and upcoming prominent players
- Growth prospects among the emerging nations through 2032
Companies Profiled
SAMSUNG SDI CO LTD
SAFT GROUPE SA
PANASONIC CORPORATION
LG CHEM LTD
JOHNSON CONTROLS INC
GS YUASA INTERNATIONAL LTD
EXIDE TECHNOLOGIES
EVEREADY INDUSTRIES
ENERSYS
EAST PENN MANUFACTURING CO
DURACELL
CROWN BATTERY MANUFACTURING COMPANY
C&D TECHNOLOGIES INC
BYD COMPANY LTD
A123 SYSTEMS LLC
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