Market Research Report
East Europe Battery Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||946537|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|East Europe Battery Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 110 Pages||
The East Europe battery market is expected to rise at a CAGR of more than 2% during the forecast period of 2020-2025. Factors such as increasing the adoption of electronic devices that use batteries, growing industry of electric vehicles, and electronic devices such as mobile phones in the region will likely drive the East Europe battery market. However, the variation in the prices of battery raw materials makes it harder to sell at a low cost, which is expected to restrain the market during the forecast period.
Lithium-ion Batteries Expected to Dominate the Market
Russia Expected to Dominate the Market
Russia is the largest country in Eastern Europe, and it has been attracting investments from other countries and running various R&D programs in battery sectors to develop the batteries, which can turn out to be more efficient than the existing ones.
Moreover, the government has targeted increasing the installed renewable energy capacity and has planned to generate 5% of the total energy consumption from renewable energy by 2030. This is likely going to drive the battery market as batteries can be used to store extra power generated from renewable. In 2019, Russia's total installed renewable energy capacity was 55190 megawatts (MW), which was higher than that in 2018 at 54611 megawatts (MW).
Russian researchers in 2018 developed a new nuclear battery design based on nickel-63, which has higher specific energy than regular, commercially-available batteries.The researchers suggested using the nuclear battery in the Arctic region of the country for its trial run, where the population is low and in case of an accident is likely to cause less harm to the human.
As of 2019, Researchers of Peter the Great St.Petersburg Polytechnic University were developing new materials for solid-state thin-film Li-ion batteries for micro and nano-device. The first stage of the project was successful at the laboratory of the Institute of Metallurgy, Mechanical Engineering, and Transport. The Russian Science Foundation supported the project.
In 2019, RUSNANO and KAMAZ PJSC signed a strategic partnership agreement connected with the planned development and production of batteries for electric vehicles and stationary appliances using rechargeable lithium-ion cells. The document also establishes a basis for the implementation of joint projects to build up the manufacture of electric cars in Russia and develop power storage systems based on rechargeable lithium-ion cells. This step takes the partnership between the two companies to a new, global level.
Hence, owing to the above points, Russia is expected to dominate the East Europe battery market during the forecast period.
The East Europe battery market is moderately fragmented. Some of the key players in this market include VARTA Microbattery GmbH, AKTEX Inc, Duracell Inc, RUSNANO Group, and EAS Batteries GmbH.