Global Battery Market – Size, Outlook, Trends and Forecast (2024

Global Battery Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

An electrochemical cell which can be charged several times electrically to provide a latent potential for power or released electrical charge when needed is referred as a battery. Rapid growth in usage of battery in industrial and automotive applications are expected to fuel the market growth. However, growing demand for hybrid electric, electric, and plug-in hybrid electric vehicles are creating tremendous growth opportunities for the battery industry.

Battery Market Segments Size & Growth:

Battery Market is expected to increase by a $ 17.26 billion by 2024 at a CAGR of 4.15%. LCDs, High demand for portable electronics including smartphones, tablets and wearable devices such as fitness bands to push battery market growth. However, battery market is expected to have significant growth in technological advancements regarding cost-effectiveness, enhanced efficiency, and product innovation. Strict emission norms by the government of developed nations including UK and US having a focus towards fuel efficiency is expected to drive the market growth.

Battery Market Segments Share:

Battery market is segmented into the category which includes primary batteries and secondary batteries. Primary non-rechargeable batteries are widely used in children’s toys, light beacons,

Global Battery Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

remote controls, watches and electronic keys. These are expected to witness a loss of share to rechargeable secondary batteries because of efficiency and enhanced lifespan. Based on the type, battery market is subdivided into primary carbon zinc, starter battery, alkaline battery, lithium-Ion, stationary lead acid, nickel cadmium, deep cycle lead acid, primary lithium, nickel metal hydride and Others. Increasing popularity of consumer electronics on a global level is expected to result in high lithium-ion batteries over the 2018-2024.

Based on geography, Asia-Pacific holds the fastest growing market due to increasing automobile production and rapid industrialisation. Increasing automotive demand, rapidly expanding the industrial base, especially in the first regional economies such as China and India in the region. Europe and North America are expected to witness significant growth because of rising electric vehicle production. Chevrolet Volt and Nissan Leaf accounted for over 50% percent of the electric vehicles sold in the U.S. in 2016.

Battery Market Trends:

High voltage, hybrid electric vehicle (HEV) battery system provides an improved electric driving range up to 20-40 % Johnson Controls developed higher fuel economy than conventional vehicles.
The Exide technologies launched new GNB Marathon FPX premium flat plate battery for motive power applications.
Lithium-ion RESU an ideal pairing for solar panel systems by LG Chem was developed for a better home energy storage.
Hitachi Chemical Co., Ltd took part in a project namely large-scale hybrid battery system demonstration project aims to build large-scale hybrid battery system using lithium-ion batteries and NAS batteries that can stabilise the distribution grid.

Battery Market Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

BYD
Samsung SDI
LG Chem
Johnson Controls
Exide Technologies

than conventional vehicles. The

You can also purchase parts of this report. Do you want to check out a section wise price list

Global Battery Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Credibility and
Transparency

We actively recruit consumers, business professionals, and elusive individuals for our research panels, fostering enduring relationships. Our commitment to transparency is evident in the comprehensive listing of primary and secondary data sources, ensuring unwavering credibility in our reports.

Exhaustive
Coverage

Uncover the full spectrum with Envision Intelligence. Our detailed and extensive geographical coverage, coupled with survey consultation services, spans brand tracking, concept testing, and consumer behaviour analysis. Adapt to your evolving needs with scalable market research services that leave no facet unexplored.

Competitive
Edge

Stay ahead with Envision Intelligence. Our reports provide the latest market updates up to the date of purchase. Recognising the urgency of impactful decisions, we deliver timely analyses on the unprecedented choices made by CXOs during the COVID-19 crisis—providing valuable insights at no extra cost.

Golden
pportunities

Unearth hidden gems with Envision Intelligence. Our analysts and consultants conduct a comprehensive strategic sieve analysis, augmented by AI tools, to identify non-obvious, golden, and emerging opportunities. Evaluate possibilities that set you apart in the market.

Top-notch Reportsd
Guaranteed

Experience unparalleled depth with Envision Intelligence. Over 70% of our research is exclusive, establishing us as the premier source for in-depth and extensive market insights. Elevate your decision-making with reports that go beyond the ordinary.

Post Purchase
Support

Empower your journey with Envision Intelligence. Our commitment extends beyond the purchase. Enjoy post-purchase support for three months, with queries addressed within 24 business hours via telephone or email. We stand by you in your quest for ongoing success.