About Next-Generation Battery
The next-generation batteries are rechargeable poly-lithium-ion batteries, advanced lead-acid and flow batteries. They find applications in the automotive and EV industry along with the grid-tied storage energy market. Next-generation batteries possess some exceptional properties such as lightweight and enhanced safety features due to which they are gaining acceptance over the conventional batteries.
Technavios analysts forecast the global next-generation battery market to grow at a CAGR of 71.2% during the period 2016-2020.
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Global Next-Generation Battery Market 2016-2020
Report recognizes the following companies as the key players in the global next-generation battery market: Sion Power, Seeo, OXIS Energy, Fluidic Energy, and GS Yuasa.
Other Prominent Vendors in the market are: 24M, Ambri, Hitachi, TESLA, Samsung, Panasonic, Sakti3, Primus Power, EnerSys, AES Energy Storage, Alevo, BYD, and Samsung SDI.
Commenting on the report, an analyst from Reports team said: The latest trend gaining momentum in the market is reducing GHG emissions and promoting cleaner energy in order to slow climate change. A great effort has been put in to reduce the energy consumption across the world. This has been done by making facilities more efficient through the energy management systems. In addition, the effort has also been directed to reduce the dependency on fossil fuels as it is one of the major contributors to emissions.
According to the report, one of the major drivers for this market is growing investments in renewable energy production. Energy insecurities have led governments worldwide to focus on the alternate sources of power for the future. The rising concerns of carbon emission from power plants have made the utilities to switch to gas powered plants and renewable source for electricity generation. A significant amount has been invested in the renewable sources for cleaner power generation, which has increased the year-over-year renewable installed capacity.
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Further, the report states that one of the major factors hindering the growth of this market is growing competition from alternative technologies. The battery market is a highly competitive one with many manufacturers, both local and international, facing stiff competition from both, the other battery manufacturers and also from alternative technologies such as the fuel cells for energy storage and for transportation. There are the other energy storage applications such as hydro storage and CAES. Besides, there is stiff competition from internal combustion engines and natural gas vehicles.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors
Covered in this report
The report covers the present scenario and the growth prospects of the global next-generation battery market for 2016-2020. To calculate the market size, the report considers the revenues that are generated by the next-generation battery vendors in the market.
The market is divided into the following segments based on geography:
Technavio’s report, Global Next-Generation Battery Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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