Secondary Battery Market is Anticipated to Witness High Growth Owing to Rising Adoption of Electric Vehicles
The secondary battery market comprises rechargeable batteries that can be charged, discharged into an external circuit, and recharged many times, unlike primary batteries which are typically discarded once discharged. Secondary batteries such as lead-acid batteries are extensively used in automotive start-stop applications & motive power batteries for electric vehicles, electric bikes, etc. Lithium-ion batteries are gaining traction owing to their high energy density and are widely adopted in consumer electronics and stationary energy storage. The global secondary battery market is estimated to be valued at US$ 120.19 Bn in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period of 2024 to 2030. Key Takeaways Key players operating in the secondary battery market are 3M, ConvaTec Inc., Coloplast Corp., Salts Healthcare, MEDLINE, Medicareplus International, Essity Medical Solutions, Cardinal Health, Smith & Nephew Plc., Safe n Simple, B Braun Medical Inc., Holl...