Battery Metals Market to Garner $20.5 Billion, Globally, By 2027 at 8.2% CAGR, Says Allied Market Research

- Increase in demand for smartphones, tablets, and other electronic devices, rise in call for electrical vehicles/hybrid electric vehicles/plug-in hybrid vehicles, and rapid development in the renewable energy sector drive the growth of the market

PORTLAND, Ore., Oct. 6, 2020 /PRNewswire/ -- Allied Market Research published a 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." 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.

Drivers, restraints, and opportunities-

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.

Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/7544

COVID-19 scenario-

• The slowdown in the Chinese EV market gave way to a significant decrease in vehicle sales all over the world. Also, economic recessions in Japan and Europe have bolstered the fall even more.
• U.S automakers also happened to delay battery shipments due to lockdown and in turn, the global battery metals market has been hit badly. However, the market is expected to recover post COVID-19.

The lithium segment to dominate by 2027-                

Based on type, 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.

Get Detailed COVID-19 Impact Analysis on the Battery Metals Market @ https://www.alliedmarketresearch.com/request-for-customization/7544?reqfor=covid

The consumer electronics segment to lead the trail-

Based on application, 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.

Asia-Pacific, followed by North America, had the major share in 2019-

Based on geography, 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.

Frontrunners in the industry-

• 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.
• Umicore
• Tianqi Lithium

Interested in Procuring this Report? Visit Here: https://www.alliedmarketresearch.com/battery-metals-market/purchase-options

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:              

3D Printing Metal Market: Global Opportunity Analysis and Industry Forecast, 2019–2026
Graphene Market: Global Opportunity Analysis and Industry Forecast 2020–2027
Epoxy Composite Market: Global Opportunity Analysis and Industry Forecast 2020–2027
Smart Polymers Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg