Increase in demand for smartphones, tablets, and other electronic devices, rise in call for electrical vehicles/hybrid electric vehicles/plug-in hybrid vehicles (EV/HEV/PHV), and rapid development in the renewable energy sector drive the growth of the global battery metals market. On the other hand, risk of supply security curbs the growth to some extent. However, rise in investment on electrification of remote & rural area and higher energy efficiency requirements in technologically updated consumer gadgets are anticipated to pave the way for numerous opportunities for the key players in the industry.
A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.
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The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.
The consumer electronics segment accounted for nearly two-fifths of the global battery metals market revenue in 2019 and is anticipated to rule the roost till 2027. Rise in demand for consumer electronics gadgets such as smart phones, laptops, CPU, tablets and others fuels the segment growth. At the same time, the energy storage systems segment would manifest the fastest CAGR of 8.5% from 2020 to 2027. Rise in demand for standby backup power can be fulfilled with the help of energy storage systems. This factor propels the growth of the segment.
The Battery metals market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.
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The lithium segment contributed to nearly two-fifths of the global battery metals market share in 2019 and is expected to maintain the lion’s share by 2027. This is owing to increase in demand for lithium ion batteries from the electric vehicle and consumer electronics industry applications. The nickel segment, on the other hand, would portray the fastest CAGR of 8.7% during the study period, due to increase in use of nickel in the most common batteries such as nickel cadmium and nickel metal hydride in the electric vehicle and other battery storage applications.
Battery Metals Companies Covered Market:- Norlisk Nickel, Albemarle Corporation, Sumitomo Metal Mining Co., Ltd., Vale, China Molybdenum Co., Ltd., Glencore International AG, SQM S.A., Gan Feng Lithium Co., Ltd. and Other.
Analysis of COVID-19 impact The outbreak of the pandemic has had a massive impact on the majority of industries and the Battery metals market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Battery metals market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
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