Parallel Battery Pack Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

Multiple batteries are wired to achieve the correct battery voltage or capacity for a particular application. Batteries are connected in series or parallel or both as one big bank to increase the efficiency of batteries. Parallel coupling involves connecting the plus poles of multiple batteries to each other and the same with the minus poles. The plus of the first battery and the minus of the last battery are then connected to the system. This type of arrangement is used to increase capacity (in this case 12v 240Ah). In parallel battery pack, the capacity of battery is doubled with maintaining the voltage of one of the individual batteries. These type of power packs has applications in laptop batteries and scooters.

Increasing applications of parallel circuits in various electronic devices is major factor fueling growth of the parallel battery pack market. Parallel circuit connection offers opportunity to give the loads and the appliances their individual switch. Parallel connection offers resistance to the flow of current compared to series connection. Therefore, advantages of parallel connection over series connection are key factors for growth of parallel battery pack market. However, use of many wires, inability to increase or multiply the voltage, and failure of connection when it is required to pass exactly same amount of current through the units are the major factors restraining growth of the parallel battery pack market.

Key Developments of Parallel Battery Pack Market

Market players are offering parallel battery pack for developments of advanced electronics and automobiles. In 2016, Future Hi-Tech Batteries (FHTBL) signed MOU with Punjab Engineering College (PEC) to further the progress in science and technology batteries under this collaboration, PEC and FHTBL will work together in the broad areas of Battery Packaging and Battery Management System. Market players are involved in developing high power and fast charging parallel battery for meeting the increasing demand of automobiles and electronics industry. Key players operating in parallel battery pack market include Samsung, Panasonic, L.G., Toshiba, Hitachi, Automotive Energy Supply Corporation, GS Yuasa International Ltd, Johnson Controls, Shenzhen BAK Battery, Future Hi-Tech Batteries Limited, BYD, Tianjin Lishen Battery, Amperex Technology, Hunan Shanshan Toda Advanced Materials, and Pulead Technology Industry.

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