Dublin, Feb. 04, 2025 (GLOBE NEWSWIRE) — The “Battery – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global market for Battery was valued at US$144.3 Billion in 2024 and is projected to reach US$322.2 Billion by 2030, growing at a CAGR of 14.3% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the battery market is driven by several factors. The rapid adoption of electric vehicles (EVs) is a primary driver, as the demand for high-performance, long-lasting batteries is crucial for extending driving ranges and reducing charging times. The increasing reliance on renewable energy sources, such as solar and wind power, also boosts demand for efficient energy storage solutions, making batteries essential for grid stability and energy management. Technological advancements that enhance battery performance and safety, coupled with decreasing costs due to economies of scale, further propel market expansion.
Additionally, government policies and incentives promoting clean energy and the electrification of transportation systems support the growth of the battery market. The rising consumer electronics market, with its constant demand for portable power sources, further contributes to the dynamic expansion of the battery industry, highlighting its critical role in modern technological advancements and sustainable energy solutions.
Technological advancements in battery technology have significantly enhanced their performance, safety, and application range. Innovations in materials science have led to the development of new electrode materials that increase energy density and reduce charging times. For instance, solid-state batteries, which replace the liquid electrolyte with a solid material, promise higher energy densities and improved safety by eliminating the risk of leakage and flammability. Advancements in battery management systems (BMS) have also improved the efficiency and lifespan of batteries by optimizing charge and discharge cycles and ensuring balanced cell performance. Additionally, research into recycling and second-life applications of batteries is addressing environmental concerns, promoting sustainable practices, and reducing the ecological impact of battery disposal.
Scope of the Study
The report analyzes the Battery market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.
Segments:
- Product (Lead Acid, Lithium Ion, Nickel Metal Hydride, Other Products)
- Application (Automotive Batteries, Portable Batteries, Industrial Batteries)
Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Lead Acid Battery segment, which is expected to reach US$60.2 Billion by 2030 with a CAGR of a 5.9%. The Lithium Ion Battery segment is also set to grow at 20% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $22.4 Billion in 2024, and China, forecasted to grow at an impressive 16.4% CAGR to reach $76.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as A123 Systems LLC, Banpu Public Company Limited, BYD, Contemporary Amperex Technology Co. Ltd., Duracell and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Battery Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 328 major companies featured in this Battery market report include:
- A123 Systems
- Banpu Public Company Limited
- BYD Company Ltd.
- Contemporary Amperex Technology Co. Ltd.
- Duracell
- EnerDel
- Eveready Industries India
- Exide Technologies
- GS Yuasa International
- Hitachi High-Tech Corporation
- Johnson Controls International
- LG Chem
- NEC
- Panasonic
- Robert Bosch
- Saft Groupe
- Samsung SDI
- Sony
- Tesla
- Toshiba
- Trojan Battery Company
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 946 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $144.3 Billion |
| Forecasted Market Value (USD) by 2030 | $322.2 Billion |
| Compound Annual Growth Rate | 14.3% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- As Indispensable Power Source, Significance of Batteries Continues to Grow in the Modern World
- Evolution of Battery over the Years: A Snapshot
- Global Economic Update
- Global Market Outlook
- Performance, Sustainability & Independence Trending Big in Battery Industry
- Asia-Pacific to Experience Favorable Growth
- Regionalization of Supply Chains
- Competition
- Battery – Global Key Competitors Percentage Market Share in 2024
- Li-ion Battery – Global Key Competitors Percentage Market Share in 2024
- Leading EV Battery Manufacturers Worldwide (in %) for 2023
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Li-ion Battery Registers Strong Growth with Expanding Applications in Consumer Electronics, Electric Vehicles and Energy Storage Sectors
- A Comparative Review of Key Properties of Different Li-ion Batteries
- Existing and Emerging Applications of Lithium-Ion Batteries
- China Dominates Li-ion Battery Production, US and Europe Make Efforts to Gain Strong Position
- Global Li-ion Battery Manufacturing Capacity (in GWh) for the Years 2019, 2022 and 2025
- Global Li-ion Battery Market Production Capacity Share Breakdown by Region/Country for 2020 and 2030
- Global Li-ion Battery Production Capacity Pipeline in GWh for 2020 and 2030
- Leading Li-ion Battery Mega Factories Worldwide: Ranked by Storage Capacity in GWh Per Annum
- Robust Outlook for EVs Opens New Avenues of Growth for EV Batteries
- Electric Micromobility Rises in Prominence
- Global Electric Passenger Car Stock (In Million Units) for the Years 2017, 2018, 2019, 2020 & 2025P
- Global Electric Heavy Duty Vehicles Stock (In Million Units) for the Years 2017, 2018, 2019, 2020 & 2025P
- Global Automakers Focus on Securing Raw Materials for EVs
- Projected Demand for Metals and Minerals from Li-ion Battery Packs Used in Passenger EVs by Type for the Years 2025 and 2030 (In Thousand Metric Tons)
- Rising Sales of Electric Buses Bolsters Demand for Li-ion Batteries
- Shortfall of Raw Materials to Augment Cost of EV Batteries
- Li-Ion Battery Cell & Pack Price (in $ per kWh) for the Years 2015-2023
- Amazing Array of Trends Charging Up EV Battery Space
- Tweaks in EV Battery Chemistry & Policy Boost as Hallmarks of Evolving Battery Domain
- Major Players Operating in the EV Battery Space
- Production of Electric Cars Set to Increase Focus on Battery Recycling
- Li-ion Batteries Emerge as the Dominant Technology for Grid-Scale Energy Storage
- Comparison of Key Features for NaS Battery, Lithium-ion Battery, and Flow Battery Technologies
- Rapid Growth of Renewable Energy Market Drives Opportunities
- Global Cumulative PV Capacity Additions in GW: 2018, 2020, 2022, 2024, 2026
- Li-ion Solar Batteries Hold an Edge over Lead Acid Batteries for Residential Solar Customers
- Key Trends Driving the Battery Energy Storage Systems Market
- Emerging Trends & Developments to Watch-For in Energy Storage
- Buzzing Technologies with Potential to Shift Boundaries of Battery Industry
- Trends Making Energetic Splash in Home Battery Storage Market
- Rapid Proliferation of Smart Homes Bodes Well for Battery Uptake
- Driven by Focus on Convenience, Comfort and Energy Savings, the Rising Proliferation of Smart Homes Presents Steady Growth Opportunities for Batteries Market: Global Smart Homes Market (In US$ Million) for the Years 2023, 2025, 2027 and 2029
- Smart Cities & IoT Push Up the Need for Smart Batteries
- New Battery Chemistry and Modularity at the Forefront of Innovations in UPS Systems
- Battery Management Gains Precedence
- Backup Power Demand Gives Special Thrust to Lead-Acid Batteries
- Graphene Holds the Potential to Enhance Attributes of Li-ion Batteries
- Smart UPS Systems Built on Li-Ion Batteries Present Exciting Opportunities for Data Centers to Leverage Stored, Unused Energy
- Increasing Adoption of Li-ion Batteries in Data Centers: Battery-based Backup (in GWh) for Li-ion Batteries in North American and European Data Centers for the Years 2019, 2021, 2023 and 2025
- Complex Infrastructure and Scale of Modern Data Centers Necessitates Energy Storage: Potential for Flow Batteries
- Demand for Portable Batteries Set to Rise in Tandem with Expansion of Portable Applications
- Li-ion Batteries Offer Support for Industrial Applications
- Increased Preference for Li-ion Batteries by Motorcycle Manufacturers Due to High Resistivity to Drive the Market Growth
- World Electric Bikes Market Breakdown of Sales (in %) by Battery Type (2020 & 2027)
- Dynamics in the Consumer Batteries Space
- Growing Demand for Mobile Computing Devices To Spur Demand
- World Consumer Li-Ion Rechargeable Battery Market by Application (2023): Percentage Breakdown of Volume Shipments for Mobile Phone, Notebook PC, Tablet PC and Others
- Widespread Use of Li-ion Batteries in Smartphones
- Li-ion Batteries Gain Momentum in Wearable Devices
- Global Electronic Wearables Shipments (In Million Units) for Years 2020, 2022, 2024 & 2026
- Demand for Smart Batteries Pushes Up the Importance of Battery Fuel Gauge ICs
- The Rise of Drones Spurs Demand for Drone Batteries
- Advanced Batteries for UAV Drones
- Global Number of Commercial Drones (In Units) for Years 2020, 2022, 2024 & 2026
- Nickel Cadmium Batteries: Declining Demand Deters Market Prospects
- Decelerating Demand Deters Nickel Metal Hydride Batteries Segment
- Flow Batteries Gain Demand
- Smart Grids Elevate the Prospects for Flow Batteries
- Pandemic Impact on the Vanadium Redox Battery Market
- Vanadium Flow Batteries: Unveiling the Much Needed Energy Storage Breakthrough
- Next Generation Advanced Batteries to Witness Rapid Growth as Industry Focuses on Sustainability
- Lithium Polymer Battery Attracts Growth
- Lithium Sulphur Batteries Demand to Accelerate
- Lead-Acid Batteries Remain Central to the Automotive Industry
- Short Life of Lead Acid Batteries & Growing Vehicle PARC Fuels Opportunities for Aftermarket Batteries
- Rising Share of Electronics in Automobiles to Augment Demand
- Growing Significance of Solid-State Batteries Over Traditional Lithium-ion Battery Systems to Drive the Market Growth
- Solid-State Technology Seeks Role in EV Domain
- Notable Battery Trends Poised to Transform Marketplace
- Next-Generation Battery Technologies Creating a Roadmap for Tomorrow
- Battery Chemistry Improvements Augment Innovations & Advancements
- Researchers Aim to Develop Advanced Li-Ion Batteries for Electric Vehicles
- Inadequacies of Electrolyte-based Li-Ion Battery Cells Prompt New R&D Investments
- Stanford Researchers Focus on Battery Technology
- Select Battery Innovations and Developments
- Dynamics in Battery Materials Space to Shape Trends in Battery Market
- Opportunities and Challenges of Sustainable Battery Production
- Favorable Demographic & Socio-Economic Trends Strengthen Market Prospects
- Rapid Growth in Urban Households
- World Urban Population in Millions: 1950-2050
- Growing Affluence of Middle Class Consumer Segment
- Rising Living Standards
For more information about this report visit https://www.researchandmarkets.com/r/a6viz6
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