A report by Transparency Market Research, titled “Advanced Batteries Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,” paints a comprehensive picture about it, based on an exhaustive research carried out by our analysts.
The report begins by stating that almost every country in the world is troubled by rising carbon emissions these days, which has led them to consider utilization of energy efficient devices. And, advanced batteries are one of these few efficient devices, which can reduce the fallout on the environment by bringing down carbon emissions. Thus, growing concerns over carbon emissions is providing a major tailwind to the global advanced batteries market. Another propelling agent for the growth in this industry is the rise in applications of advanced batteries across a plethora of industries.
Based on the report compiled by our experts, the global lead acid batteries market could be divided into several segments depending on technology type, applications, and region. Lead-acid batteries, and lithium-ion batteries are a couple of leading segments that are anticipated to show significant growth in future.
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From a geographical perspective, the global advanced batteries market is classified under five segments: North America, Europe, Asia Pacific, and the Rest of the World. Our analysts have pegged North America as an attractive region which is poised to grow at an impressive pace over the forecast period from 2016 to 2024. Europe has also been showcasing a slow but steady rise in demand and supply of advanced batteries, mainly due to the regional governments’ efforts to reduce carbon footprints. The region’s market is also being bolstered by the flourishing sales of modern batteries.
Several well-known and reputable companies have established a stronghold over the global advanced batteries market, thus forming a fairly stiff and strong competitive scenario. Siemens, Nikon, Nippon Chemicals, Sony, Samsung, Sanyo, Maxwell, and Motorola, amongst others are some of the key market players.