The batteries industry comprises establishments include companies manufacturing storage and primary batteries. A battery is a device consisting of one or more electrochemical cells that produce electric current. Battery manufacturers procure components and then they are assembled at various stages of the manufacturing process. Batteries are sold to customers through distributors, retail chains and retail stores, online stores and also, to manufacturing companies.
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The battery manufacturing market is valued at nearly $165 billion in 2017 due to the increasing demand for grid storage and electric vehicles as it offers lightweight and high-energy density solutions. Asia Pacific was the largest region in the batteries manufacturing market in 2017, accounting for four-fifth of the market share.
The battery manufacturing market in The Business Research Company’s report is split into two parts. Secondary Batteries segment was the largest segment with more than fourth-fifth share of the market, and primary batteries took up the remaining one-fifth share.
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China was the largest region in the batteries manufacturing market in 2017, accounting for more than half of market share. This is mainly due to high demand for batteries from automobile industries and commercial establishments. China was followed by the USA and Japan.
The top five companies of the market are Panasonic Corporation, Johnson Controls Inc., GS Yuasa Corporation, East Penn Manufacturing Co., Inc. And Enersys Ltd. Panasonic was the biggest player in the market in 2017. It operates through four segments: appliances company, AVC network company, eco solution company, and industrial and automotive systems company.
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