Use of Backup Power in Multiple Industries Driving the Demand in the Global Battery Market
London, Feb 23, 2018: The need for environment-friendly transport is driving the adoption of battery-driven cars in the automotive industry, which in turn is creating the demand for batteries across the globe. Rechargeable batteries are dominating the market due to their longer lifespan compared with primary batteries. Additionally, use of backup power in industries such as […]READ MORE >>
London, Feb 23, 2018: The need for environment-friendly transport is driving the adoption of battery-driven cars in the automotive industry, which in turn is creating the demand for batteries across the globe. Rechargeable batteries are dominating the market due to their longer lifespan compared with primary batteries. Additionally, use of backup power in industries such as oil and gas, railways, mining, automotive, manufacturing, healthcare, education, retail, and pharmaceutical is also driving the demand in the global battery market.
SpendEdge’s latest procurement research report on the global battery market offers an in-depth assessment of the crucial factors influencing the supply market, strategic procurement and sourcing decisions, pricing models, and procurement best practices. The report, a part of the components and spares portfolio, also offers detailed insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.
“The use of electric power in vehicles is increasing due to the production of new hybrid and electric vehicles from OEMs across the globe. Also, government initiatives (such as subsidies for electric vehicles in countries such as the US, Japan, and China) undertaken for encouraging eco-friendly transportation due to growing awareness about environmental protection among people is driving the demand for batteries in vehicles” – Tridib Bora, components and spares procurement research specialist at SpendEdge.
Suppliers need to comply with regulations associated with the transportation of batteries (such as lithium batteries) due to the hazardous nature of chemicals present in them. Non-compliance with these regulations might lead to heavy penalties or cancelation of licenses. As a result, suppliers in the battery market are facing procurement challenge to adhere to regulations.
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This procurement report on the battery market offers insights on:
- Supply markets, growth drivers, trends, and imminent restraints
- Key suppliers and assessment of their capabilities
- Procurement best practices
- Negotiation strategies and cost-saving opportunities
- Pricing models and category innovations
- For a comprehensive, detailed list, view our full report
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