SECONDARY BATTERY MARKET ANALYSIS

Regional Analysis

Global Secondary Battery Market: Regional Insights

The global secondary battery market is regionally divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa.

Asia Pacific is expected to dominate global secondary battery market over the forecast period, owing to surge in battery manufacturing due to initiatives by governments of countries in the region towards e-mobility. For instance, the government of India is aiming to achieve 30% electric fleet by 2030. Moreover, the demand for rechargeable batteries in China is growing due to rise in adoption of new energy vehicles. These factors thus, are expected to drive growth of the market in Asia Pacific region.

North Pacific is also projected to show substantial growth in the global secondary battery market over the forecast period. This is owing to significant demand for electric vehicles in countries such as the U.S., which is the biggest market for electric vehicles. Manufacturers in this country are focusing on initiatives for catering the growing demand for EVs, such as establishment of battery and vehicle production facilities in the nation. Furthermore, the increasing growth of oil and gas sector in Canada is also expected to propel growth of the secondary battery market in the region.

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East: GCC Countries, Israel, and Rest of Middle East
• Africa: South Africa, North Africa, and Central Africa