Global Battery Packaging Market to 2023: Leading Players are Nefab, UPS, DHL, Zarges, Heitkamp & Thumann, FedEx, Rogers, DS Smith, Smurfit Kappa & Umicore

1/24/2019, 6:25 PM (Source: GlobeNewswire)

Dublin, Jan. 24, 2019 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.

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.

Based on type of battery, lithium-ion battery packaging is expected to grow at the higher CAGR during the forecast period.

In terms of value, lithium-ion battery packaging segment is expected to grow at the higher CAGR during the forecast period. Increasing adoption and rising awareness regarding alternative sources of energy and electric vehicles to control the ever-increasing carbon footprint has spurred the demand for lithium-ion batteries globally. Since these batteries have higher efficiency and energy density compared to lead-acid batteries, they are considered ideal for energy storage and EV applications. They also have advantage over the lead-acid battery in terms of cycle life.

Increased investments in the battery manufacturing market have spurred growth in cell & pack packaging segment.

As the adoption of batteries has been growing rapidly, leading battery manufacturers are investing heavily to ramp up their productions for batteries. Recently, leading battery manufacture have started investing in new regions. For instance, Samsung SDI completed the construction of its new lithium-ion battery plant in Hungary. This facility is expected to be operational in the second quarter of 2018. This would increase the demand for cell & pack packaging. Similar investments are being undertaken by other battery manufacturers such as Tesla, SK Innovation, and LG.

APAC battery packaging market is expected to grow at the highest CAGR during the forecast period.

APAC battery packaging market is expected to record the highest growth rate during the forecast period, due to the presence of leading battery manufacturers in the region. This region is home to some of the leading battery manufacturers, including Panasonic, Samsung, GS Yuasa, Exide, and LG, among others. APAC accounts for the largest share of the global automotive market, as it is home to some of the leading automobile consumer countries such as China, Japan, and India. This region also accounts for largest share of the handheld consumer electronics segment which is driving the battery packaging market.

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.

Market Dynamics

Drivers

  • Rising Demand for Batteries From the Sustainable Energy Sector
  • Increasing Awareness of Users Towards Zero Emission Vehicles
  • Favorable Government Policies

Restraints

  • High Cost and Low Efficiency of Sustainable Technologies

Opportunities

  • Increasing Oil Prices
  • Increase in Battery Recycling Activities

Challenges

  • High Cost of Raw Materials

Industry Outlook

  • Electric Vehicles (EVS)
  • Electricity Storage

Companies Mentioned

  • ALLCell Technologies
  • Amara Raja Batteries Limited
  • DHL
  • DS Smith
  • Fedex
  • Heitkamp & Thumann Group
  • Johnson Controls
  • Manika Moulds
  • Nefab
  • Rogers Corporation
  • Smurfit Kappa
  • Targray
  • Tesla, Inc.
  • Texim Europe
  • Umicore
  • United Parcel Service (UPS)
  • Veolia Environnement S.A.
  • Zarges

For more information about this report visit https://www.researchandmarkets.com/research/33wws2/global_battery?w=12

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Related Topics: Packaging, Battery Technology

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