(EMAILWIRE.COM, May 03, 2022 ) The report “Battery Packaging Market by Type of Battery (Lithium-ion, Lead-acid), Level of Packaging (Cell & Pack Packaging, Transportation Packaging), and Region (APAC, North America, Europe, South America, Middle East and Africa) – Global Forecast to 2023″, The battery packaging market is projected to grow from USD 20.6 billion in 2018 to USD 36.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 12.0% during the forecast period. The growth of the battery packaging market can be attributed to the increased consumption of batteries in the automotive, energy storage, and consumer electronics industries.
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140916712
Based on type of battery, lithium-ion battery packaging is expected to account for the largest share of the battery packaging market during the forecast period.
Lithium-ion batteries have higher efficiency, energy density, and cycle life compared with other types of batteries. Electric Vehicles (EVs) are replacing Internal Combustion Engine (ICE) vehicles. The adoption of EVs is fueling the demand for batteries, which subsequently is driving the battery packaging market. Due to their superior performance characteristics, they are preferred in the energy storage application.
The cell & pack packaging segment is expected to dominate the global battery packaging market during the forecast period.
Significant capital investments are being made by leading lithium-ion battery manufacturers globally. For instance, most leading Asian battery manufacturers, such as Samsung, LG, SK Innovation, and GS Yuasa, have planned investments in various parts of Europe (Poland, Hungary). In 2018, Tesla identified 2 new strategic locations to establish lithium-ion battery plants, one in Europe, and the other in Shanghai. All these factors are resulting in the increasing demand for batteries, which is expected to drive the market for battery packaging during the forecast period.
Don’t miss out on business opportunities in Battery Packaging Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=140916712
Browse in-depth TOC on “Battery Packaging Market
125 – Market Data Tables
35 – Figures
149 – Pages
The Asia Pacific region is expected to hold the largest market size in the battery packaging market during forecast period.
The Asia Pacific region is estimated to account for the largest share of the battery packaging market during the forecast period due to the presence of leading battery manufacturers in this region. This region is home to some of the leading battery manufacturers including Panasonic, Samsung, GS Yuasa, Exide, and LG, among others. APAC holds the largest share of the global automotive market. The region has made significant investments in the renewable energy generation space, which have further increased the consumption of batteries. For instance, in India, the government is installing 40GW of grid connected rooftop solar capacity. This is expected to be completed by 2022.
Nefab Group (Sweden), United Parcel Service Inc. (US), DHL (Germany), Zarges Group (Germany), Heitkamp & Thumann Group (Germany), FedEx (US), Rogers Corporation (US), DS Smith (UK), Smurfit Kappa (Ireland), and Umicore (Belgium) are some of the leading players operating in the battery packaging market.
Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=140916712
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the Growth Engagement Model GEM. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write Attack, avoid and defend strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarketss flagship competitive intelligence and market research platform, Knowledge Store connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.