Battery Revolution: Future Trends and Developments
The Battery Market, valued at US$ 7.4 billion in 2022, is primed for growth, with projections suggesting a CAGR of 2.7% from 2023-2028, reaching US$ 8.9 billion by 2028 (Stratview Research). Notably, Asia-Pacific is anticipated to uphold its position as the largest market. As the world shifts towards renewable energy and electric vehicles, batteries play a pivotal role in powering this revolution. Advancements in battery technology, such as solid-state batteries and lithium-sulfur batteries, promise increased efficiency and sustainability.