Battery Market Research Report

eloped to cater to the needs of our clients and help them strengthen their positions in the market.The battery industry has exhibited rapid evolution in recent years. The era of prototypes and concepts has already passed. Low emission electrical drives and eco-friendly energy storage are expected to shape the future. Intelligent approaches and unique ideas are emerging across the globe as batteries play an important role in reducing our dependence on fossil fuel. Rocky Mountain Institute, a research firm, for instance, mentioned that the industry will provide massive economic opportunities in the near future as it requires investors, regulators, policymakers, and planners. Over the last ten years, the production cost of lithium-ion batteries went down, which, in turn, made electric vehicles commercially viable in terms of performance and price. The next decade will be defined by utility-scale storage. With the rising concerns of the climate crisis, solar and wind energy are extensively utilized and it would require large scale storage as the world is reducing its dependence on fossil fuel. Also, governments of several countries are investing in clean energy, which would affect the market positively.