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Next Generation Batteries Market Insights, Outlook, Industry Analysis, Share, Trends, Applications, Types and Forecasts 2027
iCrowd Newswire
14 Jul 2021, 10:09 GMT+10
Increasing demand for more efficient and cost-effective batteries is driving global next generation batteries market growth.
The global next generation batteries market is expected to reach a market size of USD 20.84 Billion at a steady CAGR of 5.6% in 2027, according to latest analysis by Emergen Research. This steady revenue growth can be attributed to increasing investment by OEMs such as BMW Group, Volkswagen, and Daimler for production of more efficient and cost-effective batteries. Increasing research and development activities for production of advanced next generation batteries with better fire resistance, longer life span, and quicker charge rate are key factors expected to drive growth of the global next generation batteries market.