Global Battery Packaging Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at CAGR of 6.12% during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Rising demand for batteries from the sustainable energy sector and increasing awareness among individuals towards zero-emission vehicles are the major factors driving the global battery packaging market. Rising demand for battery packaging products like lithium-ion battery and the lead-acid battery is a key factor estimated to drive the target market growth. Also, increasing adoption of global battery packaging market products in the transportation packaging sector is a factor estimated to support the revenue growth of the global battery packaging market.
Increasing penetration of batteries in various prominent end-user industries has led to the increasing implementation of safe global battery packaging solutions. Also, battery packaging producers are focusing on customizable battery packaging solutions depending upon size requirement. These are other factors estimated to drive the target market growth.
However, low efficiency and high cost of sustainable technologies are key factors estimated to restrain the growth of the global battery packaging market.
On the basis of type of battery segment, lithium-ion battery packaging segment is estimated to grow at higher CAGR during the forecast period. Increasing adoption and rising awareness regarding alternative sources of energy and electric vehicles to control the ever-increasing carbon footprint has spurred the demand for lithium-ion batteries globally. Since these batteries have higher efficiency and energy density compared to lead-acid batteries, they are considered ideal for energy storage and EV applications. They also have an advantage over the lead-acid battery in terms of cycle life
Based on the level of packaging segment, significant capital investments are being made by leading lithium-ion battery constructers globally. For instance, most leading Asian battery manufacturers, like Samsung, LG, and GS Yuasa, SK Innovation, have planned investments in various parts of Europe. Tesla identified 2 new planned locations to establish lithium-ion battery plants, one in Europe, and the other in Shanghai. All these factors are resulting in the growing demand for batteries, which is estimated to drive market for global battery packaging market during the forecast period.
In terms of region, APAC battery packaging market is expected to record the highest growth rate during the forecast period, because of the presence of leading battery manufacturers in the region. This region is home to some of the leading battery manufacturers, including Panasonic, GS Yuasa, Samsung, Exide, and LG, among others. APAC accounts for the largest share of the global automotive market, as it is home to some of the leading automobile consumer countries like China, Japan, and India. This region also accounts for the largest share of the handheld consumer electronics segment which is driving the global battery packaging market.
This report defines, segments, and projects the battery packaging market based on the type of battery, level of packaging, and region. It strategically profiles key players and comprehensively analyzes the ranking of the leading market players. It also tracks and analyzes competitive developments like expansions, acquisitions, joint ventures, investments, patent acquisitions, partnerships, and agreements in the market.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global battery packaging market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the modest analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global battery packaging market.
Scope of the Global Battery Packaging Market
Global Battery Packaging Market, By Type of battery
• Lithium-ion battery
• Lead-acid battery
Global Battery Packaging Market, By Level of Packaging
• Cell & Pack Packaging
• Transportation Packaging
Global Battery Packaging Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Battery Packaging Market
• United Parcel Service (UPS)
• Heitkamp & Thumann Group
• Rogers Corporation
• DS Smith
• Smurfit Kappa
• ALLCell Technologies
• Texim Europe
• Manika Moulds
• Veolia Environnement S.A.
• Tesla, Inc.
• Johnson Controls
• Amara Raja Batteries Limited.
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