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.
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Allied Market Research published a new report, titled, “Battery Metals Market by Metals Type (Lithium, Cobalt, Nickel, and Others) and Application (Consumer Electronics, Electric Mobility, Energy Storage Systems, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027″ The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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.
This makes it important to understand the practical implications of the Battery metals market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
According to the report, the global battery metals industry was estimated at $11.3 billion in 2019, and is expected to hit $20.5 billion by 2027, registering a CAGR of 8.2% from 2020 to 2027.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players Glencore International AG, Albemarle Corporation, Sumitomo Metal Mining Co., Ltd., Umicore, Tianqi Lithium, Vale, China Molybdenum Co., Ltd., SQM S.A., Gan Feng Lithium Co., Ltd., and Norlisk Nickel. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
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Asia-Pacific, followed by North America, held the major share in 2019, garnering more than two-thirds of the global battery metals market. The presence of large number of key players and availability of the manufacturing facilities in region have augmented the market growth. Simultaneously, Europe would register the fastest CAGR of 8.7% throughout the forecast period. This is due to increase in demand for batteries from consumer electronics, hospitals, educational institutes, and other energy storage applications.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the Battery metals market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
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.
KEY OFFERINGS OF THE REPORT:
- Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
- Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
- Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
- Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
- Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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