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Battery market size is anticipated to grow at a CAGR of 9.37% from 2022 to 2032, reaching USD 27.64 billion. The market is most likely to be driven by rising consumer electronics demand and the deployment of electric vehicles. Additionally, the increasing use of UPS systems for constant power supply in the chemical, oil & gas, and healthcare industries is anticipated to propel the growth of the battery market throughout the course of the research period.
Both stationary and automobile applications are expected to drive market growth for batteries. Currently, as the market for electric vehicles (EVs) expands, there is a swift increase in demand for automotive batteries. Japan is encouraging research and development by engaging in industry-academia-government cooperation to maintain its global dominance in research and development, which is expected to increase Japan's battery market. This is done in response to growing global competition in the design and manufacture of next-generation rechargeable batteries, including all-solid-state batteries. Japan as a result decided to invest heavily in the study and creation of all-solid-state battery technologies. Even if all-solid-state batteries still have issues, liquid lithium-ion batteries (liquid LiBs) are anticipated to continue to rule the battery business.
Some of the factors anticipated to influence the battery market are rising scientific advancements towards taking the lead globally in the research and commercialization of next-generation batteries, particularly all-solid-state batteries, and quickly capturing the next-generation battery industry. Additional factors that are anticipated to influence product demand in the battery market include rising consumer awareness of greenhouse gas emissions, a rise in domestic demand, support for recycling and reusing, an expansion of the generation of green electricity, and decreased electricity costs. The widespread usage of UPS systems for continuous power supply in the chemical, oil & gas, and healthcare industries is anticipated to drive the battery market's expansion. Because of their great durability and low price, lead acid batteries are employed in crucial applications.
By 2024, lithium-ion batteries are anticipated to outpace lead acid batteries in lead acid battery-related applications such as electric cars, plug-in electric vehicles, storage, and automobiles. The expansion of the battery industry is fueled by the high demand for portable gadgets including fitness bands, smartphones, LCDs, and tablets. Due to technical improvements in terms of product innovation, increased efficiency, and cost-effectiveness, the market is anticipated to have considerable expansion.
Report Coverage
Global Battery research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Battery report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Battery competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Battery market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Battery market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Battery market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Panasonic Corporation, Toshiba Corporation, Maxell, Ltd., Furukawa Battery Co., Ltd., Vehicle Energy, NGK Insulators Ltd., FDK Corporation, ELIIY-Power, KYOCERA, Hitachi, Ltd., NEC Corporation, Murata, GS Yuasa International Ltd
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Battery market based on the below-mentioned segments:
Global Battery Market, By Product Type
Global Battery market, By Application
Global Battery Market, By End User
Global Battery market, Regional Analysis
Both stationary and automobile applications are expected to drive market growth for batteries. Currently, as the market for electric vehicles (EVs) expands, there is a swift increase in demand for automotive batteries. Japan is encouraging research and development by engaging in industry-academia-government cooperation to maintain its global dominance in research and development, which is expected to increase Japan's battery market. This is done in response to growing global competition in the design and manufacture of next-generation rechargeable batteries, including all-solid-state batteries. Japan as a result decided to invest heavily in the study and creation of all-solid-state battery technologies. Even if all-solid-state batteries still have issues, liquid lithium-ion batteries (liquid LiBs) are anticipated to continue to rule the battery business.
Some of the factors anticipated to influence the battery market are rising scientific advancements towards taking the lead globally in the research and commercialization of next-generation batteries, particularly all-solid-state batteries, and quickly capturing the next-generation battery industry. Additional factors that are anticipated to influence product demand in the battery market include rising consumer awareness of greenhouse gas emissions, a rise in domestic demand, support for recycling and reusing, an expansion of the generation of green electricity, and decreased electricity costs. The widespread usage of UPS systems for continuous power supply in the chemical, oil & gas, and healthcare industries is anticipated to drive the battery market's expansion. Because of their great durability and low price, lead acid batteries are employed in crucial applications.
By 2024, lithium-ion batteries are anticipated to outpace lead acid batteries in lead acid battery-related applications such as electric cars, plug-in electric vehicles, storage, and automobiles. The expansion of the battery industry is fueled by the high demand for portable gadgets including fitness bands, smartphones, LCDs, and tablets. Due to technical improvements in terms of product innovation, increased efficiency, and cost-effectiveness, the market is anticipated to have considerable expansion.
Report Coverage
Global Battery research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Battery report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Battery competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Battery market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Panasonic Corporation, Toshiba Corporation, Maxell, Ltd., Furukawa Battery Co., Ltd., Vehicle Energy, NGK Insulators Ltd., FDK Corporation, ELIIY-Power, KYOCERA, Hitachi, Ltd., NEC Corporation, Murata, GS Yuasa International Ltd |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Battery Market from 2021 to 2030.
- Market Forecast for Battery Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Battery competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Battery
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Battery market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Battery market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Panasonic Corporation, Toshiba Corporation, Maxell, Ltd., Furukawa Battery Co., Ltd., Vehicle Energy, NGK Insulators Ltd., FDK Corporation, ELIIY-Power, KYOCERA, Hitachi, Ltd., NEC Corporation, Murata, GS Yuasa International Ltd
Primary Target Market
- Market Players of Battery
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Battery market based on the below-mentioned segments:
Global Battery Market, By Product Type
- Lead Acid
- Lithium Ion
- Nickel Cadmium
- Lithium Titanate Oxide (LTO)
- Nickel Metal Hydride
Global Battery market, By Application
- Automotive Batteries
- Industrial Batteries
- Portable Batteries
Global Battery Market, By End User
- Aerospace
- Automobile
- Electronics
- Others
Global Battery market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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