Clean Energy Market Maturing And Growing In Significance
With increasing global warming and consequent rise in government regulations, the demand for clean energy is increasing. Clean energy refers to energy generated from natural sources such as sunlight, wind and others. Renewable energy systems process energy from natural sources into usable forms and store in batteries for use at a later point of time. The Batteries used in renewable energy systems include lead acid batteries, lithium-ion batteries and others. Lithium-ion batteries are the most common type of batteries used in electric vehicles. For example, the electric car manufacturers Tesla and Nissan use lithium-ion batteries to power electric motors.
BATTERIES MANUFACTURING MARKET TO GROW TO $203 BILLION BY 2020 ACCORDING TO THE BUSINESS RESEARCH COMPANY.
The Business Research Company expects the batteries manufacturing market to grow to $203 billion in 2020. Asia Pacific was the largest region in the batteries manufacturing market in 2016, accounting for $121 billion or 79.0% market share.
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The chart below shows the year-on-year growth of the global batteries manufacturing market during 2016 - 2020.
According to The Business Research Company’s Electronics Consultant, Sindhu Kanuri, manufacturers are employing robots to complement workers on the factory floor. Major battery manufacturing companies are using workers and robots on the shop floor faster and safer assembly process. This concept is called “cobotics”. For instance, Tesla uses robots to help its workers at its battery manufacturing plant Tesla Gigafactory located in Nevada, USA. Apart from the robots used for assembly, Tesla also uses self-navigating autonomous indoor vehicles (AIV’s) to move materials between workstations.
Panasonic was the largest competitor in the batteries manufacturing market in 2016 with revenues of $22.5 billion for the financial year 2015 from automotive and industrial systems division, which included battery manufacturing. Panasonic’s growth strategy is to increase investments to enhance automotive batteries capacities in the USA owing to growing demand for batteries from electric vehicle manufacturers.
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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. Each cell produces electric current from the chemical reaction between the electrolyte and the terminals.
The battery manufacturing industry can be further classified as follows
Primary Battery manufacturing comprises establishments manufacturing disposable flashlight batteries, dry cells, lithium batteries and watch batteries. Primary batteries are small single use batteries that generate electric power from chemical reactions that occur between the terminals and the electrolyte in the battery. These are mostly used in portable devices that require low current.
Storage Battery manufacturing include establishments manufacturing storage batteries. Storage batteries are rechargeable batteries that can be recharged by passing a current through it in the opposite direction of its discharge. These are mostly used in automotive, household and industrial applications.
Batteries Manufacturing Market Briefing is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office the price is $1500 and $2000 if you wish to use across a multinational company.
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