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PUBLISHER: IMARC | PRODUCT CODE: 1722914
PUBLISHER: IMARC | PRODUCT CODE: 1722914
Secondary Battery Market Size, Share, Trends and Forecast by Type, Application, Industry Vertical, and Region, 2025-2033
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The global secondary battery market size was valued at USD 127.86 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 276.83 Billion by 2033, exhibiting a CAGR of 8.51% from 2025-2033. Asia Pacific currently dominates the market, holding a secondary battery market share of over 46.8% in 2024. The secondary battery market is expanding due to the growing adoption of electric vehicles (EVs), energy storage solutions for renewable energy integration, and consumer electronics. Innovations in battery technology, increasing environmental awareness, and favorable government policies are also key drivers of market growth. Expanding industrial applications and grid modernization also contribute significantly to market expansion.
Secondary batteries are accumulators or rechargeable batteries that store chemical energy and convert it into electrical energy depending on the requirement. These batteries are economical and offer high power density, reasonable discharge rate, and low-temperature performance than primary batteries. As a result, they are used to power electronic devices, cellular phones, and hybrid electric vehicles (HEVs). At present, several manufacturers are introducing novel secondary batteries, such as a flow cell battery that allows large-scale (GWh) energy storage using wide basins at a low price.
Secondary Battery Market Trends:
The boosting sales of portable electronic devices, such as mobiles, speakers, and laptops, due to the escalating internet penetration and rising purchasing capacity of consumers worldwide represent one of the key factors strengthening the growth of the market. Moreover, the emerging trend of electric vehicles (EVs) on account of the rising awareness among individuals about greenhouse gas (GHG) emissions associated with conventional automobiles is contributing to the market growth. This can also be accredited to tax incentives and subsidies offered by governments of several countries to EV manufacturers. Apart from this, increasing investments in renewable energy, the rising need for efficient energy storage devices, and low maintenance costs of secondary batteries are other significant factors driving the market. In addition to this, the growing energy consumption worldwide due to rapid urbanization and increasing instances of frequent power supply interruptions is catalyzing the demand for secondary batteries for power backup. Besides this, as secondary batteries allow ultra-fast charging with minimal stress and provide high specific energy, they are gaining widespread adoption in power tools, medical devices, aviation, and industrial applications around the world.
Key Market Segmentation:
Breakup by Type:
- Lead Acid
- Lithium-Ion (Li-ion)
- Nickel Metal Hydride
- Others
Breakup by Application:
- Electronics
- Motor Vehicles
- Industrial Batteries
- Portables Devices
- Others
Breakup by Industry Vertical:
- Chemical and Petrochemical
- Oil and Gas
- Energy and Power
- Automotive
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amperex Technology Limited (TDK Corporation), Byd Company Limited, Duracell Inc. (Berkshire Hathaway Inc.), Energizer Holdings Inc., EnerSys, LG Chem Ltd., Panasonic Corporation, Saft (TotalEnergies SE), Samsung SDI Co. Ltd., Showa Denko K. K., Sony Group Corporation and Tianjin Lishen Battery Joint-Stock Co. Ltd.
Key Questions Answered in This Report
- 1.How big is the secondary battery market?
- 2.What is the future outlook of secondary battery market?
- 3.What are the key factors driving the secondary battery market?
- 4.Which region accounts for the largest secondary battery market share?
- 5.Which are the leading companies in the global secondary battery market?
Product Code: SR112025A5241
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Secondary Battery Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Lead Acid
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Lithium-Ion (Li-ion)
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Nickel Metal Hydride
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Application
- 7.1 Electronics
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Motor Vehicles
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Industrial Batteries
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Portables Devices
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by Industry Vertical
- 8.1 Chemical and Petrochemical
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Oil and Gas
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Energy and Power
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Automotive
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Amperex Technology Limited (TDK Corporation)
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 Byd Company Limited
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Duracell Inc. (Berkshire Hathaway Inc.)
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Energizer Holdings Inc.
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 EnerSys
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 LG Chem Ltd.
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Panasonic Corporation
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 Saft (TotalEnergies SE)
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Samsung SDI Co. Ltd.
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Showa Denko K. K.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Sony Group Corporation
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Tianjin Lishen Battery Joint-Stock Co. Ltd.
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.1 Amperex Technology Limited (TDK Corporation)
Product Code: SR112025A5241
List of Figures
- Figure 1: Global: Secondary Battery Market: Major Drivers and Challenges
- Figure 2: Global: Secondary Battery Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: Secondary Battery Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 4: Global: Secondary Battery Market: Breakup by Type (in %), 2024
- Figure 5: Global: Secondary Battery Market: Breakup by Application (in %), 2024
- Figure 6: Global: Secondary Battery Market: Breakup by Industry Vertical (in %), 2024
- Figure 7: Global: Secondary Battery Market: Breakup by Region (in %), 2024
- Figure 8: Global: Secondary Battery (Lead Acid) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 9: Global: Secondary Battery (Lead Acid) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 10: Global: Secondary Battery (Lithium-Ion (Li-ion)) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 11: Global: Secondary Battery (Lithium-Ion (Li-ion)) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 12: Global: Secondary Battery (Nickel Metal Hydride) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 13: Global: Secondary Battery (Nickel Metal Hydride) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 14: Global: Secondary Battery (Other Types) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 15: Global: Secondary Battery (Other Types) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 16: Global: Secondary Battery (Electronics) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 17: Global: Secondary Battery (Electronics) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 18: Global: Secondary Battery (Motor Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 19: Global: Secondary Battery (Motor Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 20: Global: Secondary Battery (Industrial Batteries) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 21: Global: Secondary Battery (Industrial Batteries) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 22: Global: Secondary Battery (Portables Devices) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 23: Global: Secondary Battery (Portables Devices) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 24: Global: Secondary Battery (Other Applications) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 25: Global: Secondary Battery (Other Applications) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 26: Global: Secondary Battery (Chemical and Petrochemical) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 27: Global: Secondary Battery (Chemical and Petrochemical) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 28: Global: Secondary Battery (Oil and Gas) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 29: Global: Secondary Battery (Oil and Gas) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 30: Global: Secondary Battery (Energy and Power) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 31: Global: Secondary Battery (Energy and Power) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 32: Global: Secondary Battery (Automotive) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 33: Global: Secondary Battery (Automotive) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 34: Global: Secondary Battery (Other Industry Verticals) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 35: Global: Secondary Battery (Other Industry Verticals) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 36: North America: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 37: North America: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 38: United States: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 39: United States: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 40: Canada: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 41: Canada: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 42: Asia-Pacific: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 43: Asia-Pacific: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 44: China: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 45: China: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 46: Japan: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 47: Japan: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 48: India: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 49: India: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 50: South Korea: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 51: South Korea: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 52: Australia: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 53: Australia: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 54: Indonesia: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 55: Indonesia: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 56: Others: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 57: Others: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 58: Europe: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 59: Europe: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 60: Germany: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 61: Germany: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 62: France: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 63: France: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 64: United Kingdom: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 65: United Kingdom: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 66: Italy: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 67: Italy: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 68: Spain: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 69: Spain: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 70: Russia: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 71: Russia: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Others: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 73: Others: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 74: Latin America: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 75: Latin America: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 76: Brazil: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 77: Brazil: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 78: Mexico: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 79: Mexico: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 80: Others: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 81: Others: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 82: Middle East and Africa: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
- Figure 83: Middle East and Africa: Secondary Battery Market: Breakup by Country (in %), 2024
- Figure 84: Middle East and Africa: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 85: Global: Secondary Battery Industry: SWOT Analysis
- Figure 86: Global: Secondary Battery Industry: Value Chain Analysis
- Figure 87: Global: Secondary Battery Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Secondary Battery Market: Key Industry Highlights, 2024 and 2033
- Table 2: Global: Secondary Battery Market Forecast: Breakup by Type (in Million USD), 2025-2033
- Table 3: Global: Secondary Battery Market Forecast: Breakup by Application (in Million USD), 2025-2033
- Table 4: Global: Secondary Battery Market Forecast: Breakup by Industry Vertical (in Million USD), 2025-2033
- Table 5: Global: Secondary Battery Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 6: Global: Secondary Battery Market: Competitive Structure
- Table 7: Global: Secondary Battery Market: Key Players
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