Battery Market, By Type, By Technology, By Application, By Geography

Description

Global battery market is estimated to be valued at US$ 128.52 billion in 2024 and is expected to reach US$ 401.29 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 17.7% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 128.52 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	17.70%	2031 Value Projection:	US$ 401.29 Bn

Figure 1.Battery Market Share (%), By Region, 2024

Global battery market has experienced significant growth in the past few years due to increasing demand for portable consumer electronics such as smartphones, laptops, and tablets. Batteries store chemical energy and make it available in an electrical form. These are an important source of power for a variety of devices and equipment which does not have access to electricity through other means. Key battery types include lead-acid batteries, lithium-ion batteries, and nickel-metal hydride batteries. Lead-acid batteries remain popular for automobile starter motors due to their relatively low cost while lithium-ion variants are used in consumer devices due to their higher energy density. The developments in battery technologies enabling higher energy capacity is expected to further expand the applications for batteries.

Market Dynamics:

Global battery market growth is driven by rising sales of electric vehicles that uses lithium-ion batteries, increasing penetration of renewable energy requiring battery storage solutions, and growing demand for portable consumer electronics. However, high costs of lithium-ion batteries used in electric vehicles and fluctuations in prices of raw materials such as lithium, cobalt, and nickel remain can hamper the market growth. Ongoing research and development in battery chemistries expand use cases such as in grid storage and for industrial applications presenting new opportunities. Governments around the world are also promoting electric mobility through financial incentives on purchase of EVs, creating a conducive market environment.

Key features of the study:

This report provides in-depth analysis of the global battery market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global battery market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include CATL (Contemporary Amperex Technology Co Ltd), BYD Company Limited, Panasonic Corporation, LG Chem, Samsung SDI, SK Innovation, EVE Energy Co, Ltd, Tesla, AESC (Automotive Energy Supply Corporation), GS Yuasa Corporation, Coslight, Hitachi, Ltd , Johnson Controls International plc, Honeywell International Inc, Bosch Group, Varta AG, Pinnacle Electronics Inc, Microvast Holdings, Inc, Liontown Resources Limited, and Freudenberg Group .
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
Global battery market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global battery market.

Market Segmentation

By Type
- Primary Battery
- Secondary Battery
By Technology
- Lead-acid Battery
- Lithium-ion Battery
- Nickel-metal Hydride (NiMH) Battery
- Nickel-cadmium (NiCD) Battery
- Nickel-zinc (NiZn) Battery
- Flow Battery
- Sodium-sulfur (NAS) Battery
- Zinc-manganese Dioxide Battery
- Small Sealed Lead-acid Battery
- Other Technologies
By Application
- Automotive Batteries
- Industrial Batteries
- Portable Batteries
- Power Tools Batteries
- SLI Batteries
- Other Applications
By Regional
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Players Insights
- CATL (Contemporary Amperex Technology Co Ltd)
- BYD Company Limited
- Panasonic Corporation
- LG Chem
- Samsung SDI
- SK Innovation
- EVE Energy Co, Ltd
- Tesla
- AESC (Automotive Energy Supply Corporation)
- GS Yuasa Corporation
- Coslight
- Hitachi, Ltd
- Johnson Controls International plc
- Honeywell International Inc
- Bosch Group
- Varta AG
- Pinnacle Electronics Inc
- Microvast Holdings, Inc
- Liontown Resources Limited
- Freudenberg Group

Product Code: CMI5170

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Type
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New system Launch/Approvals
Impact of COVID-19 Pandemic

4. Global Battery Market, By Type, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Primary Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Secondary Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

5. Global Battery Market, By Technology, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Lead-acid Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Lithium-ion Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Nickel-metal Hydride (NiMH) Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Nickel-cadmium (NiCD) Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Nickel-zinc (NiZn) Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Flow Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Sodium-sulfur (NAS) Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Zinc-manganese Dioxide Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Small Sealed Lead-acid Battery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Other Technologies
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

6. Global Battery Market, By Application, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Automotive Batteries
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Industrial Batteries
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Portable Batteries
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Power Tools Batteries
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
SLI Batteries
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Other Applications
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

7. Global Battery Market, By Region, 2019-2031, (US$ Billion)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
North America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Technology, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
U.S.
Canada
Europe
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Technology, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
U.K.
Germany
France
Russia
Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Technology, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Technology, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Type, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Technology, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Application, 2019-2031, (US$ Billion)
- Market Size and Forecast, By Country, 2019-2031, (US$ Billion)
South Africa
GCC Countries
Rest of the Middle East & Africa

8. Competitive Landscape

Company Profiles
- CATL (Contemporary Amperex Technology Co Ltd)
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/Updates
- BYD Company Limited
- Panasonic Corporation
- LG Chem
- Samsung SDI
- SK Innovation
- EVE Energy Co, Ltd
- Tesla
- AESC (Automotive Energy Supply Corporation)
- GS Yuasa Corporation
- Coslight
- Hitachi, Ltd
- Johnson Controls International plc
- Honeywell International Inc
- Bosch Group
- Varta AG
- Pinnacle Electronics Inc
- Microvast Holdings, Inc
- Liontown Resources Limited
- Freudenberg Group

9. Wheel of Fortune

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Section

References
Research Methodology
About us and Sales Contact