Advanced Batteries Market Spurred With The Increasing Adoption Of Advanced Batteries In Defense & Aerospace & Predicted To Continue Healthy Growth Till 2021.
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According to the market research report “Advanced Batteries Market: By Battery Type (Lithium ion, Lithium ion polymer, Nickel-based, Nickel cadmium, Nickel metal hybrid & Smart Nano, Others) By Storage Type (Electrical energy, Mechanical energy, Electrochemical & Others)-Forecast (2016-2021)”, published by IndustryARC, estimates that Americas will continue its dominance till the end of forecast period.
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Advanced battery is the one which is able to have a higher density of energy stored within them. They can be either nickel or lithium based and have higher power retention compared with standard batteries.
These batteries can be used in the same applications for which standard batteries are used in today, however, there are certain key applications which specifically would benefit from the use of advanced batteries like communications segment.
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Advantage with the advanced batteries is that they can be integrated into any energy storage system and further enhance the capacity of the energy storage system. Advanced Batteries Market is expected to register significant growth with rising demand for advanced car batteries.
Scope & Regional Forecast of the Advanced Batteries Market
Rising concerns about carbon emissions and growing awareness about using energy efficient devices are the major factors that play important role in driving the Advanced Batteries Market growth. The major key factor that is fueling the demand for advanced batteries is the increase in activities such as combustion of oil, natural gas, and coal, deforestation and industrial activities.
This market is also expected to witness a great demand for advanced batteries as they offer flexibility, safety, efficiency and generation asset enhancement.
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In addition, the rising adoption of advanced batteries across diverse industries especially military and aerospace sectors to built emergency power, munitions, communications, satellites and robots has been driving the growth of the Advanced Batteries Market. However, the higher costs of advanced batteries and ambiguous regulatory frameworks are the primary factors that hamper the growth of the market.
Based on the regions, the Advanced Batteries Market has been segmented into Asia-Pacific, Americas, Europe and Rest of the World. Among these, Americas leading the market holding the highest share for advanced batteries because it has the highest concentration of electric vehicles and smart grids.
Asia-Pacific is projected to register fast growth during forecast period, followed by Europe and Rest of the World.
Segmentations & Key Players Involved in the Advanced Batteries Market
The Advanced Batteries Market can be broken down into various segmentations on the basis of -
- Battery Type: Lithium ion Battery, Lithium ion polymer, Nickel-based, Nickel cadmium, Nickel metal hybrid, Smart nano and Others.
- Application: Electrical energy, Mechanical energy, Electrochemical and Others.
- Region: Americas, Europe, Asia-Pacific and Rest of the World.
Some of the key players involved in the Advanced Batteries Market are as follows:
- AIXTRON SE
- Air Products and Chemicals, Inc
- Centrotherm Photovoltaics AG
- Hitachi Kokusai Electric Inc
- Veeco Instruments, Inc.
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Why access this report?
* The overall market has been consolidated from the perspective of different geographic locations and key economies for this market.
* Identifies growth sectors and factors driving or constraining the market.
* The market is analyzed based on the key attributes such as the power in the hands of producers and consumers, analysis on the degree of competition, and threats from substitutes and new entrants.
* The study includes the demand of this particular market on a global and regional scale for a five year period of 2016 - 2021, to assess how the market will develop.
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