The growing demand for product delivery in a timely manner has pushed for improvements in the logistics and distribution business in the European region, which will likely provide many opportunities for Li-ion batteries in the material handling industry in the coming years. The EU Battery Directive (2006/66/EC) regulates the manufacturing and disposal of batteries and accumulators in the European Union to protect human health and the environment from hazardous substances such as mercury and cadmium. Owing to the increasing demand from the automotive, telecommunications, and renewable sectors, the battery demand in the region is likely to witness significant growth in the coming years. Batteries are a strategic part of Europe's clean and digital transition and a key enabling technology. They’re also essential to maintaining the automotive sector's competitiveness, which is why building its own full life-cycle battery value chain is critical. According to the report, "Europe Battery Market Outlook, 2027" published by Bonafide Research, the market is anticipated to register a difference of around USD 28 billion from 2016 to 2027. Further, the market is projected to grow at more than 9% CAGR during the forecast period. Norway is the largest electric vehicle market in Europe. The other major nations experiencing strong growth in EVs are Germany, the United Kingdom, the Netherlands, Portugal, Sweden, Finland, and France, amongst others. Germany has been attracting investments from other countries across the world for the development of lithium-ion battery manufacturing facilities. Also, Germany is expected to witness significant growth during the forecast years due to the increasing automotive industry during the forecast period. For instance, in May 2019, a Chinese battery manufacturer, Farasis Energy, announced it would invest USD 674 million in building a lithium-ion battery manufacturing plant in Germany. Once bound to consumer equipment, toys, and starting-lighting-ignition, batteries have now made their way into smart electronics, robots, electric mobility, and renewable-based energy generation. In 2019, the European Raw Materials Alliance announced that investment in the European battery ecosystem reached more than 70 billion Euros, three times more than in China. The industrial application segment has remained the least contributing segment over the years. Every year, approximately 800,000 metric tones of automotive batteries, 190000 metric tones of industrial batteries, and 160000 metric tones of consumer batteries enter the European Union, according to the European Commission. The automotive application segment of batteries is expected to continue inclining in market share and is expected to portray the highest growth rate compared to other applications. The automotive battery segment is expected to hold a significant share in the European battery market, owing to the increasing demand from new vehicles produced in the region. Advanced rechargeable batteries, such as lithium-based or next-generation nickel, zinc, sodium, or solid-state battery chemistries, are a key enabler for the transition towards low-emission mobility and decarbonizes energy generation. The market is led by the lead-acid battery segment, which held a share of over 50% until the year 2021. It is, indeed, increasing awareness of global warming and rising populations that have driven the development of battery storage power in Europe to date. For years, growing cities and soaring CO2 emissions have pushed for alternative mobility and green electricity solutions. The nickel-cadmium and nickel-metal hydride battery segments together are expected to account for more than USD 1 billion by the end of the forecast period. Companies are required to comply with the European Union’s Battery Directive responsibilities to avoid fines and shipping barriers upon import into any of the 27 EU Member States. The European battery market is fragmented with the presence of several players. Some of the major players include BYD Company Limited, Contemporary Amperex Technology Co. Limited, Saft Groupe S.A., Tesla Inc., FIAMM SPA, GS Yuasa Corporation, LG Chem Ltd. The major notable companies headquartered in the region are Akasol, ARTS Energy, Bosch, BroadBit, Continental AG, E4V, Electrovaya, Johnson Controls, Nexeon, Northvolt, Oxis Energy, Targray, and Varta Storage. The dynamics of the logistics business, such as increasing cost pressure, tight timelines, and unpredictable order peaks, are changing the requirements placed on warehouse equipment and forklifts. Cranes and forklifts are the primary pieces of equipment that dominate the material handling industry. Electric forklifts typically use lead-acid batteries as a power source. Moreover, lithium-ion forklift batteries can be fast-charged and can maintain their capacity in cold temperatures better than their lead-acid counterparts. The increasing demand for the fast delivery of products pushes for improvements in the logistics and distribution business in the European region and is likely to provide ample opportunities for Li-ion batteries in the material handling industry in the coming years. A range of different vehicle types is now available globally, featuring increasing degrees of hybridization and electrification. There are various types of vehicles, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and electric vehicles (EVs). Europe, being the initiator of the Paris Climate Pact, promoted the shift from internal combustion vehicles to EVs and has registered high growth over recent periods. The current Norwegian government has decided to keep the incentives for zero-emission cars until the end of 2021. After 2021, the incentives are likely to be revised and adjusted in parallel with the market's development. The VAT exemption for zero-emission vehicles in Norway has been approved by the European Free Trade Association Surveillance Authority (EFTASA) until the end of 2022. On August 1, 2010, this entry was published. In early December 2020, Britishvolt announced that they are planning to build the United Kingdom's first electric vehicle battery factory at Blyth, northeast England, with a total investment of USD 3.4 billion, creating 3,000 jobs at the site. The new plant will use renewable energy, including the potential to use hydropower generated in Norway and transmitted 447 miles under the North Sea via the North Sea Link project's inter-connector. Furthermore, the plant is aimed at producing more than 300,000 lithium-ion batteries per year, with an expected completion date of 2023. Further, electric vehicle battery manufacturing has also been gaining momentum in Sweden in recent years. The Swedish lithium-ion battery manufacturer, Northvolt, raised around USD 2.75 billion in June 2021 to expand its factory in Northern Sweden to keep up with the growing demand for electric cars. In March 2021, the company also signed a ten-year, USD 14 billion electric vehicle battery supply deal with Volkswagen. The agreement between Northvolt and VW brings the Swedish battery maker’s total contracts to USD 27 billion since 2019. On August 1, 2010, this entry was published. Over 1,000GWh of new Li-ion batteries will be placed on the EU market by 2030, with roughly 10% of this capacity installed in stationary energy storage systems and the rest used for battery electric vehicles. In the face of skyrocketing demand, the scarcity of battery materials, and Europe’s high import-dependency rate, the industry has been urged to increase the recycling capacity for Li-ion batteries and, therefore, provide a supply of secondary raw materials. With a lifetime of 10–15 years, batteries that are currently installed are expected to reach their end-of-life (EoL) and will have to be properly handled. In 2030 alone, there will be more than 110,000 tones (or 25GWh) of these batteries in Europe. Changes to business in Europe are set to be truly electrifying. In fact, the coming years will likely be marked by a veritable battery boom for the continent, where numerous firms are turning to lithium-ion cells. A number of these companies have emerged as joint ventures or subsidiaries of automobile manufacturers and technology companies, whilst others have only just been founded. Established Asian manufacturers are also taking the market by storm. Recent Development • In December 2020, Spain’s gas and power company, Naturgy, connected the vanadium redox flow battery to its wind farms Vega I and II in Zamora, Spain. The battery was supplied by storage company E22 and is the first vanadium redox flow battery to be connected to a wind farm in Spain. The VCUBE250 battery storage system can be integrated with systems ranging between 250 kW and 330 kW and has a life exceeding 12,000 cycles at full power. Its storage capacity can be extended from 2.5 hours at maximum capacity to 10 hours. • In July 2021, Nissan Motor Co., Ltd. announced that the company would build a battery factory near its vehicle manufacturing plant in Sunderland, northeastern England. Envision AESC, a Chinese-owned company that already provides Nissan with batteries at the assembly plant in Sunderland, will invest EUR 450 million in the new giga-factory to supply electric cars made at the site. On August 1, 2010, this entry was published. COVID-19 Impacts: In 2020, due to disruptions in supply chains of battery raw materials such as lithium and cobalt, the major battery manufacturers and end-users witnessed a significant slowdown in their businesses. For instance, in 2020, carmakers such as Daimler, Volkswagen, Volvo, and Tesla announced plans to shut down some of their factories for some time in response to the COVID-19 pandemic. Major factors driving the market include declining lithium-ion battery prices; rapid adoption of electric vehicles; a growing renewable sector; and increased sales of consumer electronics. On the other hand, the demand-supply mismatch of raw materials is likely to hinder the market's growth during the forecast period. Major Companies Present In the Market A123 Systems LLC, BYD Company Limited, C&D Technologies Inc., Clarios, Contemporary Amperex Technology Corporation Limited, GS Yuasa International Limited, Hitachi Chemical Corporation Limited, LG Chem Limited, Panasonic Corporation, Saft Group SA, Samsung Corporation Limited, Sony Corporation, Toshiba Corporation Considered In the Report • Geography: Europe • Historical year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecasted year: 2027 Countries covered: • Germany • UK • France • Spain • Italy • Russia Aspects Covered In the Report • Market Size By Value for the historic time period (2016-2021) • Market Size By Value for the forecast time period (2022-2027) • Market Share by Type (Primary & Secondary) • Market Share by Technology (Lead acid Battery, Lithium ion Battery, Nickel metal hydride Battery, Nickel cadmium Battery & Other Batteries) • Market Share by Application (Automotive Batteries, Industrial Batteries & Portable Batteries) • Market Share by Country The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the battery manufacturers, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globallyDownload Sample