Reports

Global Battery Market to Grow at a CAGR of 15% During 2021-2026, Aided by Technological Advancements

Battery Market

Global Battery Market: By Product: Lithium-Ion, Lead Acid, Nickel Metal Hydride, Nickel Cadmium, Others; By Application: Automotive Batteries, Industrial Batteries, Portable Batteries, Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Battery Market Outlook

The global battery market attained a value of USD 153.41 billion in 2022. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 15%.

 

Global Battery Market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Asia Pacific to Dominate the Market for Battery Owing to Rapid Urbanisation and Industrialisation

The Asia Pacific market is witnessing robust growth due to the increasing manufacturing activities in China and India. Rapid urbanisation and industrialisation are increasing the demand for technologically advanced portable products, hence aiding the market growth. Moreover, the introduction of favourable initiatives by the Indian government provided funding through incentive 2.0 for manufacturing of consumer electronics and Made in China 2025 initiated by the Chinese government are increasing the demand for batteries, hence aiding the market growth. Moreover, the consumption of consumer electronics is rising significantly in technologically advanced countries, such as South Korea, Japan, and Singapore, among others. The advent of portable and smart devices is increasing the use of batteries, further invigorating the market growth and contributing to the overall growth of the market.

Batteries are extensively used in various industrial applications, such as telecommunication, medical equipment, oil drilling, and tracking systems, among others, which are propelling the industry growth. Moreover, batteries are also used in the flourishing aerospace industry to feed navigation and emergency systems, which is bolstering the market growth. Additionally, the development of energy storage systems in various emerging economies for efficient power supply is further boosting the market growth. The rising demand for sustainable energy storage by industrial companies owing to various governments’ regulations is facilitating the market growth.

 

Battery: Market Segmentation

A battery is a container that consists of two or more cells and converts chemical energy into electrical energy. It is used for powering electronic devices, such as mobile phones, flashlights, and electric cars, among others. Batteries have several advantages over other power sources as they can store energy and provide specific energy capacity.

 

Global Battery Market by Segment

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

The major products of battery are:

  • Lithium-Ion
  • Lead Acid
  • Nickel Metal Hydride
  • Nickel Cadmium
  • Others

The market can be broadly categorised on the basis of its applications into:

  • Automotive Batteries
  • Industrial Batteries
  • Portable Batteries

The EMR report looks into the regional markets of battery like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Battery Market by Region

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Surging Use of Electronic Vehicles to Aid the Growth of Battery Industry

The rising popularity of electronic vehicles is crucial in the expansion of the battery industry. The surging use of lithium-ion batteries in electric cars and scooters is driving the market growth. The e-scooters industry is witnessing significant growth in emerging economies. Electronic vehicles are increasingly used due to their cost-effectiveness and high efficiency. Moreover, stringent government policies owing to rising pollution levels are also increasing the demand for fuel-efficient electronic vehicles, consequently escalating the demand for a battery. This is expected to drive the market growth in the forecast period.

The rising use of consumer electronics owing to growing disposable income and evolving living standards is also augmenting the market growth. Moreover, the growing consumer awareness is increasing the demand for sustainable products, further catalysing the battery industry. Technological advancements and innovations to develop more efficient, cost-effective, and durable batteries are anticipated to further boost the industry growth. In addition, the rising prevalence of the use of portable batteries owing to hectic lifestyles and growing dependency on technological gadgets is also fuelling the market growth. Further, increasing research and development (R&D) activities using technological innovations is also lubricating the market growth. For instance, in 2019, a team of researchers from Stanford University, MIT, and Toyota Research Institute used artificial intelligence (AI) to predict the performance of lithium-ion batteries. Such developments are anticipated to accelerate the market growth.

 

Key Industry Players in the Global Battery Market

The report presents a detailed analysis of the following key players in the global battery market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • LG Energy Solution
  • GS Yuasa International Ltd.
  • BYD Company Ltd.
  • Exide Industries Ltd.
  • Johnson Controls
  • Panasonic Corporation
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Application, Regions
Breakup by Product Lithium-Ion, Lead Acid, Nickel Metal Hydride, Nickel Cadmium, Others
Breakup by Application Automotive Batteries, Industrial Batteries, Portable Batteries
Breakup by Regions North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles-Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered LG Energy Solution, GS Yuasa International Ltd., BYD Company Ltd., Exide Industries Ltd., Johnson Controls, Panasonic Corporation, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Battery Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Battery Historical Market (2018-2022) 
    8.3    Global Battery Market Forecast (2023-2028)
    8.4    Global Battery Market by Product
        8.4.1    Lithium-Ion
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Lead Acid
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
        8.4.3    Nickel Metal Hydride
            8.4.3.1    Historical Trend (2018-2022)
            8.4.3.2    Forecast Trend (2023-2028)
        8.4.4    Nickel Cadmium
            8.4.4.1    Historical Trend (2018-2022)
            8.4.4.2    Forecast Trend (2023-2028)
        8.4.5    Others
    8.5    Global Battery Market by Application
        8.5.1    Automotive Batteries
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    Industrial Batteries
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
        8.5.3    Portable Batteries
            8.5.3.1    Historical Trend (2018-2022)
            8.5.3.2    Forecast Trend (2023-2028)
    8.6    Global Battery Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2022) 
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2022) 
            8.6.2.2    Forecast Trend (2023-2028)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2022) 
            8.6.3.2    Forecast Trend (2023-2028)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2022) 
            8.6.4.2    Forecast Trend (2023-2028)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2022) 
            8.6.5.2    Forecast Trend (2023-2028)
9    North America Battery Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2022) 
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022) 
        9.2.2    Forecast Trend (2023-2028)
10    Europe Battery Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022) 
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022) 
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022) 
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022) 
        10.4.2    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Battery Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022) 
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022) 
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022) 
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022) 
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022) 
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Battery Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022) 
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022) 
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022) 
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Battery Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2022) 
        13.1.2    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2022) 
        13.2.2    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2022) 
        13.3.2    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2022) 
        13.4.2    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive  Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1     LG Energy Solution
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    GS Yuasa International Ltd.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    BYD Company Ltd.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Exide Industries Ltd.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Johnson Controls
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Panasonic Corporation
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market


Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment


List of Key Figures and Tables

1.    Global Battery Market: Key Industry Highlights, 2018 and 2028
2.    Global Battery Historical Market: Breakup by Product (USD Billion), 2018-2022
3.    Global Battery Market Forecast: Breakup by Product (USD Billion), 2023-2028
4.    Global Battery Historical Market: Breakup by Application (USD Billion), 2018-2022
5.    Global Battery Market Forecast: Breakup by Application (USD Billion), 2023-2028
6.    Global Battery Historical Market: Breakup by Region (USD Billion), 2018-2022
7.    Global Battery Market Forecast: Breakup by Region (USD Billion), 2023-2028
8.    North America Battery Historical Market: Breakup by Country (USD Billion), 2018-2022
9.    North America Battery Market Forecast: Breakup by Country (USD Billion), 2023-2028
10.    Europe Battery Historical Market: Breakup by Country (USD Billion), 2018-2022
11.    Europe Battery Market Forecast: Breakup by Country (USD Billion), 2023-2028
12.    Asia Pacific Battery Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    Asia Pacific Battery Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Latin America Battery Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Latin America Battery Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Middle East and Africa Battery Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Middle East and Africa Battery Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Global Battery Market Structure

Key Questions Answered in the Report

What was the global battery market size in 2022?

In 2022, the global battery market attained a value of nearly USD 153.41 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 15% between 2023 and 2028.

What are the major industry drivers?

The market is being aided by rapid urbanisation and urbanisation in the emerging countries, the surging use of electronic vehicles, and the rising use of consumer electronics.

What are the key industry trends of the global battery market?

The industry is expected to be defined by the increasing research and development (R&D).

What are the major regional markets of battery, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major products of battery in the industry?

The major products of battery in the industry are lithium-ion, lead acid, nickel metal hydride, and nickel cadmium, among others.

What are the significant applications of battery?

The significant applications in the market are automotive batteries, industrial batteries, and portable batteries.

Who are the key industry players, according to the report?

The major players in the industry are LG Energy Solution, GS Yuasa International Ltd., BYD Company Ltd., Exide Industries Ltd., Johnson Controls, and Panasonic Corporation, among others.

Analyst Review

The global battery market attained a value of USD 153.41 billion in 2022, driven by the rising use of batteries in various major industries. Aided by the surging popularity of electronic vehicles, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 15%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its products, the battery industry can be segmented into lithium-ion, lead acid, nickel metal hydride, and nickel cadmium, among others. On the basis of applications, the industry is divided into automotive batteries, industrial batteries, and portable batteries. The major regional markets for battery are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include LG Energy Solution, GS Yuasa International Ltd., BYD Company Ltd., Exide Industries Ltd., Johnson Controls, and Panasonic Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

Purchase Full Report

Mini Report

$1699
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update
Buy Now

Single User License

$2799
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update
Buy Now
most popular

Five User License

$3999
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update
Buy Now

Corporate License

$4999
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update
Buy Now

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER