Global Next Generation Batteries Market Size study & Forecast, by Type (Lithium-Sulfur Batteries and Solid-State Batteries) by Application (Electric Vehicles (EVs) and Consumer Electronics) and Regional Forecasts 2022-2032

The Global Next Generation Batteries Market is valued at approximately USD 1.91 billion in 2024 and is anticipated to grow with a CAGR of more than 8.40% throughout the forecast period of 2025-2035. Next generation batteries refer to a new class of advanced energy storage technologies engineered to deliver superior performance, enhanced safety, longer cycle life, and higher power densities when compared to traditional lithium-ion systems. These evolving battery chemistries are designed to unlock the next wave of electrification, supporting industries that increasingly rely on compact, lightweight, and high-capacity energy solutions. Market expansion is fueled by the dramatic rise in electric mobility, accelerating investments in sustainable energy systems, and mounting regulatory emphasis on decarbonization. As global industries push to electrify transportation and optimize portable electronic products, demand for long-lasting and robust battery platforms continues to soar.

The surge in electric vehicle adoption worldwide has catalyzed a significant increase in demand for next generation batteries. These advanced storage systems are pivotal in strengthening driving ranges, improving charging efficiency, and reducing vulnerabilities associated with overheating and degradation. As auto manufacturers compete to differentiate their EV portfolios, investments in solid-state platforms and lithium-sulfur chemistries have surged, propelling innovation across the entire supply chain. Moreover, consumer electronics manufacturers are actively upgrading devices to meet consumers' expectations for thinner, lighter, and longer-lasting products. Despite these strong drivers, the market faces challenges such as high production costs and complex manufacturing requirements, which temporarily temper growth. Over the forecast period of 2025-2035, however, advancements in material science and large-scale production techniques are expected to drive substantial cost reductions and unlock sizable opportunities across emerging applications.

The detailed segments and sub-segments included in the report are:

By Type:

• Lithium-Sulfur Batteries
• Solid-State Batteries

By Application:

• Electric Vehicles (EVs)
• Consumer Electronics

By Region:

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Italy
• ROE

Asia Pacific

• China
• India
• Japan
• Australia
• South Korea
• RoAPAC

Latin America

• Brazil
• Mexico

Middle East & Africa

• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Electric Vehicles (EVs) are expected to dominate the market. This segment is projected to secure the lion's share due to its unprecedented demand for advanced, safe, and energy-dense battery technologies that can support improved driving range and enhanced performance outputs. The global push toward full-scale transportation electrification, supported by government incentives and stringent emissions mandates, is compelling automakers to partner with next generation battery developers to strengthen battery durability and optimize thermal stability. While EV applications remain the backbone of demand, the consumer electronics segment is emerging as one of the fastest-growing due to constant device innovation and the rising need for ultra-portable power sources.

By type, solid-state batteries currently lead in overall revenue contribution. Their dominance stems from their exceptional safety profile, higher energy density, and longer lifecycle performance, making them a favored choice for premium energy storage applications used in EVs and critical electronics. Meanwhile, lithium-sulfur batteries are positioned as the fastest-growing segment backed by ongoing R&D breakthroughs, their lightweight architecture, and the potential to drastically increase energy density at a lower cost. Solid-state batteries retain strong market control today, but lithium-sulfur chemistries are rapidly gaining momentum and may reshape the competitive landscape in the long run.

Across regional markets, North America dominated in 2025 due to its strong EV ecosystem, large-scale investments in gigafactories, and robust innovation pipelines supported by both private-sector R&D and federal clean energy initiatives. Europe also remains a major contributor driven by aggressive decarbonization agendas, stringent environmental policies, and widespread adoption of electric mobility technologies. Asia Pacific, however, is slated to witness the fastest growth over the forecast period. Rapid industrialization, expanding EV production in China, and technological leadership in advanced electronics manufacturing position the region as a powerhouse of next generation battery demand. Government-backed investments in clean energy storage, coupled with rising consumer electronics consumption, further strengthen Asia Pacific's trajectory.

Major market players included in this report are:

• QuantumScape
• Sion Power Corporation
• Panasonic Holdings Corporation
• Samsung SDI Co., Ltd.
• CATL
• Solid Power, Inc.
• LG Energy Solution
• Toyota Motor Corporation
• Amprius Technologies
• GS Yuasa Corporation
• Excellatron
• Enovix Corporation
• StoreDot
• BYD Company Ltd.
• Hitachi Chemical Co. Ltd.

Global Next Generation Batteries Market Report Scope:

• Historical Data - 2023, 2024
• Base Year for Estimation - 2024
• Forecast period - 2025-2035
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
• Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries included in the study. The report also provides detailed information about crucial factors such as driving forces and challenges that will shape future market growth. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with an in-depth analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional-level analysis for each market segment.
• Detailed analysis of the geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of the competitive structure of the market.
• Demand side and supply side analysis of the market.