The Battery Packaging Market is projected to grow from USD 20.6 billion in 2018 to USD 36.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 12.0% during the forecast period. The growth of the battery packaging market can be attributed to the increased consumption of batteries in the automotive, energy storage, and consumer electronics industries.
Browse 125 market data Tables and 35 Figures spread through 149 Pages and in-depth TOC on "Battery Packaging Market by Type of Battery (Lithium-ion, Lead-acid), Level of Packaging (Cell & Pack Packaging, Transportation Packaging), and Region (APAC, North America, Europe, South America, Middle East and Africa) - Global Forecast to 2023"
To capitalize the growing demand for batteries, leading players are expanding their production capacities. In June 2018, UPS opened a new shipping center in Arlington, Texas (US) by investing USD 200 million. This facility created employment for around 1,400 workers to facilitate shipments. This expansion comes as a strategic investment by UPS to improve its efficiency and connectivity across UPS hubs and transportation network. In May 2017, UPS constructed a new distribution center in Edgerton, US. This development helped the company expand its Kansas operations and facilitate smoother shipments. In January 2017, H&T Nevada (US), a business unit of H&T, started its production facility in Gigafactory jointly with Tesla (US). This new production facility is embedded in the production line of Tesla, creating a synergy. This development helped H&T increase its market presence in the cell packaging segment.
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In January 2014, H&T Dongguan (China) expanded the production capacity for cans as well as for flat parts used in batteries. This production facility helped H&T achieve its ambitious growth strategy, making it become a leading player in the supply of metal components for the lithium-ion battery technology used in hybrid and battery electric vehicles.
Nefab Group (Sweden), United Parcel Service Inc. (US), DHL (Germany), Zarges Group (Germany), Heitkamp & Thumann Group (Germany), FedEx (US), Rogers Corporation (US), DS Smith (UK), Smurfit Kappa (Ireland), and Umicore (Belgium) are some of the leading players operating in the Battery packaging market.
Recent Developments:
- In June 2018, UPS opened a new shipping center in Arlington, Texas (US) by investing USD 200 million. This facility created employment for around 1,400 workers to facilitate shipments. This expansion comes as a strategic investment by UPS to improve its efficiency and connectivity across UPS hubs and transportation network.
- In May 2017, UPS constructed a new distribution center in Edgerton, US. This development helped the company expand its Kansas operations and facilitate smoother shipments.
- In January 2017, H&T Nevada (US), a business unit of H&T, started its production facility in Gigafactory jointly with Tesla (US). This new production facility is embedded in the production line of Tesla, creating a synergy. This development helped H&T increase its market presence in the cell packaging segment.
Key Questions addressed by the report
- How are regulations impacting the growth of the battery packaging market?
- Increased demand for batteries in various end-use industries and their impact on the battery packaging market
- How are new investments helping the growth of the battery packaging market?
- Leading players in the battery packaging market
- How recycling packaging can unlock new opportunities of growth in the battery packaging market?
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The growth of the battery packaging market can be attributed to the increased consumption of batteries in the automotive, energy storage, and consumer electronics industries.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=140916712Based on type of battery, lithium-ion battery packaging is expected to account for the largest share of the battery packaging market during the forecast period.Lithium-ion batteries have higher efficiency, energy density, and cycle life compared with other types of batteries.
Electric Vehicles (EVs) are replacing Internal Combustion Engine (ICE) vehicles.
Due to their superior performance characteristics, they are preferred in the energy storage application.The Asia Pacific region is expected to hold the largest market size in the battery packaging market during forecast period.The Asia Pacific region is estimated to account for the largest share of the battery packaging market during the forecast period due to the presence of leading battery manufacturers in this region.
This region is home to some of the leading battery manufacturers including Panasonic, Samsung, GS Yuasa, Exide, and LG, among others.
APAC holds the largest share of the global automotive market.
This is expected to be completed by 2022.Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=140916712Nefab Group (Sweden), United Parcel Service Inc. (US), DHL (Germany), Zarges Group (Germany), Heitkamp & Thumann Group (Germany), FedEx (US), Rogers Corporation (US), DS Smith (UK), Smurfit Kappa (Ireland), and Umicore (Belgium) are some of the leading players operating in the Battery packaging market.
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The global battery packaging market is forecast to reach USD 53.04 Billion by 2026, according to a new report by Reports and Data.
Cells, or more commonly known as batteries, are an integral part of our daily lives.
The expanding entrance of batteries in practically all the prominent industries has led to a rising demand for safe battery packaging solutions.
Battery packaging makers are now focusing on customizable packaging solutions for batteries, depending on size requirements.The COVID-19 pandemic has drastically altered the sectors of all the industry verticals across the world and has dynamically changed the economic scenario of the Battery Packaging market.
The report is furnished with extensive data on the market scenario and financial structure owing to the coronavirus pandemic.
The report covers extensive analysis of present and future trends and the factors that are likely to influence the growth of the market in a post-pandemic scenario.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1820The report aims to help readers and users improve their business performances by providing insightful data about the business sphere, such as recent technological development, product advancements, adoption of strategic business steps, and new processes.
