Rechargeable Batteries Market by Battery Type (Lead-Acid Batteries, Li-ion Batteries, NiMH Batteries, NiCd Batteries, and Others), Capacity (150 - 1000 mAh, 1300 - 2700 mAh, 3000 - 4000 mAh, 4000 - 6000 mAh, 6000 - 10000 mAh, and more than 10000 mAh), and Application (Consumer Electronics, Industrial, Automobile, Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

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According to the analyst, the global rechargeable batteries market is anticipated to witness growth over the forecast period, driven by rising demand from automotive and consumer electronics industry. Growing popularity of consumer electronics such as laptops, tablets, LCD displays, and smartphones on a global scale is expected to surge the demand of rechargeable batteries during the forecast period. The market is expected to observe substantial growth on account of technological advancements in terms of enhanced efficiency, cost-effectiveness, and product innovation. In addition, strict emission norms led by the government of various developed and developing countries such as the U.S., the UK, China, India, and Japan, to curb the carbon footprint and to reduce the dependency on fossil fuels is anticipate to drive the demand for electric vehicles, which eventually will surge the demand for rechargeable batteries in coming years.

However, safety issues related to storage and transportation of spent batteries and low-cost alternatives in energy storage space are expected to hamper the growth of the rechargeable batteries market during the forecast period. Furthermore, expanding data center infrastructure and declining prices of lithium-ion batteries is expected to provide growth opportunities for the rechargeable batteries market during the forecast period.