Portland, OR, March 21, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global biobatteries market was estimated at $140.8 million in 2030 and is expected to hit $295.5 million by 2040, registering a CAGR of 7.8% from 2031 to 2040. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2031 - 2040 |
| Base Year | 2030 |
| Market Size in 2030 | $140.8 Million |
| Market Size in 2040 | $295.5 Million |
| CAGR | 7.8% |
| No. of Pages in Report | 175 |
| Segments Covered | Type, Application, and Region |
| Drivers | The high potential of bio-batteries and the constant need to develop a sustainable source of energy |
| Opportunities | Increased awareness of the toxic wastes generated by conventional batteries |
| Restraints | Less energy preservation |
Covid-19 Scenario:
- The impact of the COVID-19 pandemic on the market was notably minimal. The industry itself is currently going through a phase of evolution.
- However, the industry's advancement in research activities has decreased as a result of the growing demand for sustainable alternative energy sources.
The report offers a detailed segmentation of the global biobatteries market based on type, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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By type, the enzymatic bio-battery segment held the largest share in 2030, accounting for nearly half of the global biobatteries market and would dominate the market in terms of revenue through 2040. The same segment would also display the fastest CAGR of 8.0% throughout the forecast period. The sugar, microbial, and others segments are also studied in the report.
By application, the medical implants segment held the largest share in 2030, garnering nearly one-third of the global biobatteries market revenue and is projected to rule the roost by 2040. The same segment is expected to manifest the highest CAGR of 8.2% throughout the forecast period. Segments such as mobile phones and tablets, small electric tools, toys, and others are also discussed in the report.
By region, North America held the major share in 2030, contributing to more than one-third of the global biobatteries market revenue and is projected to maintain the lion’s share by 2040. Simultaneously, the same region would also portray the fastest CAGR of 8.1% throughout the forecast period. The other provinces studied in the report include Europe, Asia-Pacific and LAMEA.
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Leading players of the global bio-batteries market analyzed in the research include Sony Corporation, SEC Industrial Battery International Ltd., Panasonic Energy Co. Ltd., BeFC, and Nexus. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, product portfolio, operating segments, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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