With the emergence and long-term Impact of COVID-19, Global Battery Plate Market to reach USD 7.12 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Battery Plate Market points towards a potential rise to USD 7.12 Billion by 2030. Battery plates are critical components within lead-acid batteries, which are widely used for energy storage in various applications, including automotive, industrial, and renewable energy systems. These plates are immersed in an electrolyte solution of sulfuric acid, and together, they facilitate the electrochemical reactions necessary for energy storage and release. The Battery Plate Market is expanding because of factors such as the rising adoption of electric vehicles, increasing demand for energy storage solutions, and growth in the telecommunications and electronics sector.
Geographically, the global Battery Plate market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022. The market in the region is being driven by factors such as automobile manufacturing, lithium-ion battery production, massive consumer demand in China, India, and Japan, rising Urbanization and Infrastructure Development, Increasing awareness of environmental issues and a shift toward cleaner and sustainable energy solutions in the region.
Europe is expected to grow at the fastest rate over the forecast period, owing to factors such as increasing emphasis on renewable energy sources and the rising adoption of electric vehicles across the region have stimulated the demand for energy storage solutions, thereby propelling the Battery Plate Market.
The global Battery Plate market is highly competitive owing to the presence of several key players such as Enersys Exide Technologies Toshiba Corporation G.S. Yuasa Corporation Amara Raja Batteries Limited Kijo Battery Group Microvast Holding Inc. Crown Battery CSB Energy Technology Co. Ltd. Fiamm Energy Storage Solutions SpA and others.
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Key findings of the study suggest:
- Global Battery Plate Market is anticipated to grow with a healthy growth rate of more than 16.63% over the forecast period 2022-2029.
- In the Battery Type segment, Lithium Ion Battery emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to the increasing awareness of environmental issues and a shift toward cleaner and sustainable energy solutions in the region.
- Europe is expected to grow at higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Battery Type:
- Lithium Ion Battery
- Lead Acid Battery
- Others
By End User:
- Automotive
- Aerospace & Defense
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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