Industry Analysis
A battery is a device that converts chemical energy into electric energy contained within its active materials directly utilizing an electrochemical oxidation and reduction (redox) reaction. This type of reaction includes the transfer of electrons from one material to another through an electric circuit. Whereas the term battery is frequently used, the cell is the actual electrochemical unit that is used to store or generate electric energy. Data Bridge Market Research analyses that the battery market was valued at USD 965.57 million in 2022 and is expected to reach the value of USD 1747.87 million by 2030, at a CAGR of 7.70% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
South Africa Battery Market research report has put forth a bench-marking example for a vibrant market that explores several recommendations and practical growth strategies in relation to the market. The market report covers a wide spectrum of regions and also focuses on key regions that include North America, Europe, Asia Pacific, Middle East, South America, and the Middle East Africa (MEA). The chapter of the competitive landscape is presented well in the market research report and is analysed based on the tools such as Porter’s five forces analysis. The study throws light upon market attractiveness where all the segments are arranged based on the compound growth rate, size, and general attractiveness.
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South Africa Battery Market Dynamics
Drivers
- Increasing demand for lead-acid battery
The lead-acid battery is witnessing the highest growth due to expanding applications in uninterrupted power supply (UPS), transport vehicles, automotive, telecommunication and electric bikes. High usage of continuous power supply devices in the healthcare, oil and gas and chemical industries for continuous power supply will drive the demand for a lead-acid battery. These batteries are widely used in impotent applications on account of their low cost and high reliability.
- Rising demand of battery in industrial applications
Batteries are primarily used in several industrial applications such as grid and off-grid energy storage systems, industrial automation systems, agricultural machinery, UPS, power backup, machinery and marine equipment, defense and aviation, electronics, oil and gas, and civil infrastructure. A rise in the usage of automation systems and electric-powered forklifts in industrial logistics and storage warehouses, large-scale facilities, workshops, and factories is anticipated to drive the consumption of industrial batteries during the forecast period.
Opportunities
- Technological advancements
Increasing technological advancements in battery technologies have augmented the use of several battery-operated equipment all over the globe. Hybrid electric vehicles are equipped with numerous features that consume substantial battery power. These features include a power windows, GPS navigation system, a display that give information regarding the air-conditioning systems and battery charge level.
- Rising investment in electric vehicle market
The mounting investment in electric vehicle market owing to the high demand of vehicles in both developed and developing nations has led to the adoption of batteries in upcoming period. For Instance, according to Avenue Capitals, In India, the electric vehicle (EV) market is anticipated to be Rs 50,000 crore by 2025 for two- wheeler and three-wheeler vehicles and likely to generate beneficial opportunities for the market growth rate.
Restraints
- Increasing risk of battery explosion
High incidence of battery explosions in quarries, vehicles, mines, and stationary and mobile plants. Increase in the demand of lithium-ion batteries, which are expected to hamper the sale of the two wheeler lead acid batteries and obstruct the market's growth rate.
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Industry Segmentation and Size
The battery market is segmented based on the battery type, type, sales channel, voltage range, components and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Battery Type
- Lead-acid Battery
- Lithium-ion Battery
- Nickel-cadmium Battery
- Nickel Metal Hydride Battery
- Nickel-zinc Battery
- Flow Battery
- Sodium-sulfur Battery
- Zinc-manganese Dioxide Battery
- Small Sealed Lead-acid Battery
- Other Batteries
Type
- Secondary
- Primary
Sales Channel
- Direct
- Indirect
Voltage Range
- Less than 50 Volt
- 51 Volt to 100 Volt
- More than 100 Volt
Components
- Anode
- Cathode
- Separator Outer Body/Container
Application
- Automotive
- Commercial
- Mobile Phone
- Electronic Devices
- Industrial
- Others
Industry Share Analysis
Some of the major players operating in the battery market are:
- Banner (Austria)
- DYNAVOLT Power (China)
- Tianneng rechargeable battery manufacturers (China)
- leoch International Technology Limited Inc, (China)
- Manbat Ltd T/A SYBS (U.S.)
- ENERSYS. (U.S.)
- Chaowei Power Holdings Ltd (China)
- KOYO BATTERY CO., LTD (China)
- Robert Bosch GmbH (Germany)
- GS Yuasa International Ltd (Japan)
- EXIDE INDUSTRIES LTD (India)
- Battery Tender (U.S.)
- Camel Group Co., Ltd (China)
- Reem Batteries Power Appliances Co. SAOC (Dubai)
- Saft (France)
- CD TECHNOLOGIES, INC. (U.S.)
- Panasonic Corporation (Japan)
South Africa Battery Market Report Answers the Following Questions:
- What is the current size of the South Africa Battery Market?
- What are the key drivers and challenges for the South Africa Battery Market?
- What are the different types of South Africa Battery Market?
- What are the leading companies operating in the South Africa Battery Market?
- What is the future outlook for the South Africa Battery Market?
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