TechNavio recognizes the following companies as the key players in the Global Large and Advanced Battery Technology Market: GS Yuasa Corp., Johnson Controls Inc., LG Chem Ltd., Panasonic Corp., Samsung SDI Co. Ltd., and SANYO Electric Co. Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “The governments of various countries have forecast that their nationwide energy demands will double within the next decade. As a result, various countries across the globe have started investing large amounts of money in smart grid technology in order to meet the huge demand for power by 2020. This increased investment in smart grid technology is leading the growth of the Global Large and Advanced Battery Technology market. This is because of the increase in the scope of usage of various secondary rechargeable batteries in electric vehicles, which is one of the major sectors in the Smart Grid industry. As a result, part of the federal stimulus investment in various countries in smart grid technology is likely to be diverted toward the Global Large and Advanced Battery Technology market.”
According to the report, one of the major drivers in this market is the increase in technological advancements. The technological advancements across various industries, especially in the Electronics industry, have led to an increase in energy usage by various customers. This is due to the increase in usage of consumer electronics such as laptops, smartphones, and tablets. This increase leads to frequent recharging, which in turn drives the demand for rechargeable batteries. This in turn has boosted the growth of the Global Large and Advanced Battery Technology market.
Further, the report states that one of the major challenges in this market is the high price for electric vehicle batteries. The high costs of such batteries equate to the cost of the electric vehicles, in turn making it difficult for the adoption of large and advanced batteries in the Electric Vehicle industry.
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. For further information on this report, please visit https://www.technavio.com/report/global-large-and-advanced-battery-techno…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/energy
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TechNavio Announces the Publication of its Research Report -Global Large and Advanced Battery Technology Market 2012-2016
