Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Battery metal is any device which help to convert the chemical energy of its cell components into energy specifically electrical energy. The increasing population had led the demand for electric application including cell phones, power tools, laptops, remote controls, video game system and other system. Besides properties of battery and battery technology has transform the consumer base. Also, the innovation done by key manufacturer in battery metal to meet consumer need and demand that best suit the specific applications is driving the growth of the market. The market is expected to witness growth at significant rate during the forecast period.
The market is driven by increase in demand for electrical vehicles/hybrid electric vehicles/plug-in hybrid vehicles (ev/hev/phv). Besides higher energy efficiency requirements in technologically updated consumer gadgets is further boosting the growth of market. Also, increase in investment on electrification of remote & rural area to provide proper electricity is fueling the demand for the market. Rapid development in the renewable energy sector and surge in demand for smartphones, tablets, and other electronic devices is ultimately propelling the market growth.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the battery metals market. In addition, complete analysis of changes on the battery metals market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the battery metals market was moderate owing to decrease in production and loss of supply chain has hampered the growth of market at significant rate.
The battery metals market is segmented based on type, application and geography
The battery metals market is available in different type including lithium, cobalt, nickel and copper. Lithium metal is anticipated to dominate in the battery metals market holding significant share in the market. The increasing use of Lithium metal due to its high efficiency, high specific energy and long life is propelling the demand of segment thereby fueling the battery metals market. Besides, these batteries find a significant role in ideal electrochemical storage systems, power systems for sustainable vehicles such as hybrid and electric vehicles.
The battery metals market finds its application in consumer electronics, electric mobility, energy storage systems. Consumer electronics is projected to dominate in the global battery metals market. The growth is due to its use in daily life appliances including in cell phones, power tools, laptops, remote controls, video game system and other system. Also, the demand is attributed to largest consumer base for this segment.
Geographically battery metals market is studied for the following region North America, Europe, Asia Pacific and RoW. Asia Pacific is projected lead in the market owing to presence of key countries and larger manufacturer in region including China and India. Besides growing use of electronic and smart appliances in regions is further boosting the regional growth during the forecast period. Moreover, demand from consumer in need for advanced electric gadgets is boosting the growth of battery metals market. Whereas Europe is anticipated to witness growth at the highest pace attributing to increasing investment for electronic, electric vehicle industry is driving the market growth in region. Also, North America is expected to gain growth at significant rate due to increasing consumer demand for battery metals market
The key players in battery metals market are Albemarle Corporation, China Molybdenum Co., Ltd., Gan Feng Lithium Co., Ltd., Glencore International AG, Norlisk Nickel., SQM S. A., Sumitomo Metal Mining Co., Ltd., Tianqi Lithium, Umicore and Vale among others.
January 2021: American Battery Technology Company had been selected for a $4.5 million grant by the U.S. Department of Energy’s Advanced Manufacturing Office. The funding opportunity is part of Department of Energy’s efforts to reduce American dependence on imported critical materials by both diversifying the sources of materials needed for energy technologies and establishing domestic capabilities to refine materials used in manufacturing.
The report analyses the global battery metals market based on type, application and geography. The battery metals market is available in different type including lithium, cobalt, nickel and copper. The battery metals market finds its application in consumer electronics, electric mobility, energy storage systems. Geographically battery metals market is studied for the following region North America, Europe, Asia Pacific and RoW.
The key players in battery metals market are Albemarle Corporation, China Molybdenum Co., Ltd., Gan Feng Lithium Co., Ltd., Glencore International AG, Norlisk Nickel., SQM S. A., Sumitomo Metal Mining Co., Ltd., Tianqi Lithium, Umicore and Vale among others.
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