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Growth Of The Global Battery Packaging Market To Be Propelled By Rising Demand for Consumer Electronic Goods By A Robust CAGR During 2020-2028

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Research Nester has released a report titled Battery Packaging Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the battery packaging market in terms of market segmentation by battery type, by battery level, by casing type, by packaging type, by packaging material and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The global battery packaging market is segmented by battery type into lithium-ion and lead-acid, out of which, lithium-ion battery segment is anticipated to hold the largest market share owing to growing demand for energy storage applications amongst consumers which includes e-bikes, e-vehicles, smartphones, laptops and other electrical consumer goods. Moreover, the growth of the segment is also supported by the growing global lithium-ion battery market, which is anticipated to record a CAGR of 16.2% over the forecast period 2018-2027 and achieve a market value of USD 72.3 billion by 2027. In the Consumer Survey (December 2018) statistical report by Statistics Finland, mobile phone contributed a share of 98.9%, which is the largest share of equipment that prevailed in households in Finland for the month of November 2018.

The global battery packaging market is anticipated to record a robust CAGR during the forecast period, i.e. 2020-2028. Increasing demand for various battery types across end use products, such as automotive starter batteries, portable computers and cell phones, high-power applications like electric vehicle batteries (EVBs) or storage for renewable energy sources, coupled with innovations in cell chemistries, that have helped to increase the production of a varied range of battery types and thereby its packaging are some of the factors that are anticipated to contribute towards the growth of the global battery packaging market during the forecast period. In the statistics by the International Energy Agency (IEA), battery electric vehicle (BEV) deployment around the world peaked to 3.29 million from 0.23 million in-between 2013-2018.

Regionally, the global battery packaging market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, Asia Pacific is expected to hold the largest market share owing to the presence of numerous leading battery manufacturers in the region along with nations such as China, which is known to export maximum amount of consumer electronic goods around the globe.

Rising Demand for Consumer Electronic Goods

Several products launched on the back of rising technological advancements in the consumer electronic goods industry have helped manufacturers in the consumer goods industry to increase their sales. Consumers are increasingly demanding for new products that are technologically advanced. Numerous products have found utmost acceptance amongst consumers, for instance, smart speakers, juice pack access, smart wearable devices and other devices, and has helped consumers change the way they use to experience these devices. It is certain that with the growing consumption of such consumer goods, manufacturers of consumer electrical products will demand for greater number of batteries, impacting positively the growth of the battery packaging industry.

However, concerns regarding high cost of sustainable technologies, which might impact negatively the sales of batteries and thereby lowering the demand for battery packaging is expected to hamper the growth of the global battery packaging market.

The market also provides the existing competitive scenario of some of the key players of the global battery packaging market, which includes company profiling of Nefab Group, Manika Moulds Pvt. Ltd., AllCell Technologies LLC, Zarges Group, Heitkamp & Thumann Group, Targray Technology International Inc., Rogers Corporation (NYSE: ROG), DS Smith (LON: SMDS), Excell Battery Co., and Mangal Industries Ltd. (Amara Raja Group). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global battery packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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