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The high demand for batteries in automotive applications such as electric vehicles, rechargeable batteries, and non-rechargeable batteries in new-age vehicles, rising consumer interest in electronics, and increased demand for portable electronics like as LCDs, LEDs, tablets, smartphones, and other wearable devices such as fitbits are the major factors driving the global battery market forward.
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Battery Market Size, Share, Price, Growth, Demand 2022-2027
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Battery Market Size, Share, Price, Growth, Demand 2022-2027

The global battery market attained a value of USD 116 billion in 2020. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 15%.