The battery market is estimated to grow at a CAGR of 2.7% during 2023-2028, driven by the recovering demand from the defense, telecom, and aviation industries and the rapidly declining cost of lithium-ion batteries.
The global battery market size was estimated at USD 134,622.4 million in 2024 and is projected to grow at a CAGR of 16.4% from 2025 to 2030. The increasing adoption of electric vehicles (EVs) is a significant factor driving the growth of the market.
Over the long term, factors such as the declining lithium-ion battery prices and the growing usage of automotive batteries in electric vehicles are expected to drive the market. On the flip side, a mismatch in the demand and supply of raw materials for battery manufacturing is likely to hinder the market growth.
Asia Pacific is currently dominating the global market, with most of the demand coming from China, India, Japan, and South Korea. Mordor Intelligence™ provides a comprehensive analysis of the battery market, including a market forecast outlook and a historical overview.
*Definition: The battery market supplies various battery types that are used to power everyday devices and equipment. It caters to the consumer battery segment with batteries for devices like cameras, toys, remote controls etc. The market also supplies industrial batteries used in backup power systems, motor vehicles and more.
The global battery industry is a highly competitive market due to the presence of major industries across the region as these companies are fairly concentrated and highly competitive. Some of the prominent players operating in the global battery market are:
Battery Market is growing at a CAGR of 17.7% over the next 7 years. CATL (Contemporary Amperex Technology Co Ltd) , BYD Company Limited , Panasonic Corporation , LG Chem , Samsung SDI and many more major companies operating in this Market.
The battery market is estimated to grow at a CAGR of 2.7% during 2023-2028, driven by the recovering demand from the defense, telecom, and aviation industries and the rapidly declining cost of lithium-ion batteries.
Get PriceThe Battery Market was estimated at US$ 7.4 billion in 2022 and is expected to grow at a CAGR of 2.7% during 2023-2028 to reach US$ 8.9 billion by 2028.
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Get PriceThe global EV battery market size was valued at USD 132.6 billion in 2023 and is expected to reach USD 508.8 billion by 2033, at a CAGR of 14.4%, during the forecast period 2023-2033.
Get PriceBattery Market Size and Trends. 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 …
Get PriceLithium-ion battery market is projected to reach $189.4 billion by 2032, growing at a CAGR of 15.2% from 2023 to 2032. Lithium-ion batteries are set to shape the future of power storage with their enduring advancements and attainable applications.
Get PriceBut a 2022 analysis by the McKinsey Battery Insights team projects that the entire lithium-ion (Li-ion) battery chain, from mining through recycling, could grow by over 30 percent annually from 2022 to 2030, when it would reach a value of more than $400 billion and a market size of 4.7 TWh. 1.
Get PriceElectric Vehicle (EV) Battery Market Segmentation Analysis By Battery Type Analysis. Growing Lightweight Lithium-ion Batteries to Drive Segment Growth. Based on battery type, the market is segmented into lithium …
Get PriceThe Lithium-Ion Battery Market report offers qualitative and quantitative insights on lithium-ion batteries and a detailed analysis of market size & growth rate for all possible segments in the market. Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights ...
Get PriceThe battery market is estimated to grow at a CAGR of 2.7% during 2023-2028, driven by the …
Get PriceWhile the average battery size for battery electric cars in the United States only grew by about 7% in 2022, the average battery electric car battery size remains about 40% higher than the global average, due in part to the higher share of SUVs in US electric car sales relative to other major markets,1 as well as manufacturers'' strategies to ...
Get PriceIMARC''s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the battery market from 2019-2033. The research report provides the latest information on the market drivers, challenges, and opportunities in the global battery market.
Get PriceIMARC''s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the battery market from 2019-2033. The research report provides …
Get PriceBattery Market Size & Trends. The global battery market size was estimated at USD 134,622.4 million in 2024 and is projected to grow at a CAGR of 16.4% from 2025 to 2030. The increasing adoption of electric vehicles (EVs) is a significant factor driving the growth of the market. In addition, the growing integration of renewable energy sources ...
Get PriceMordor Intelligence™ provides a comprehensive analysis of the battery market, including a market forecast outlook and a historical overview. Industry analysis shows promising trends in the market, with a positive industry outlook.
Get PriceGlobal Lithium-ion Battery Market Report Segmentation. This report forecasts volume and revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030.
Get PriceMordor Intelligence™ provides a comprehensive analysis of the battery market, including a market forecast outlook and a historical overview. Industry analysis shows promising trends in the market, with a positive industry outlook.
Get PriceThe global battery market attained a value of nearly USD 176.42 Billion in 2023. The market is further expected to grow at a CAGR of 15.00% during the forecast period of 2024-2032 to reach a value of USD 620.62 Billion by 2032.
Get PriceKey growth enablers of the global battery market: A diverse range of batteries are experiencing increased demand for automotive applications, particularly in electric and hybrid vehicles. An automotive battery plays a vital role in a vehicle''s powertrain, functioning independently of the gasoline used for propulsion.
Get PriceThe global EV battery market size was valued at USD 132.6 billion in 2023 and is expected to reach USD 508.8 billion by 2033, at a CAGR of 14.4%, during the forecast period 2023-2033.
Get PriceThe global EV battery market size was valued at USD 132.6 billion in 2023 and is expected to reach USD 508.8 billion by 2033, at a CAGR of 14.4%, during the forecast period 2023-2033. EV Battery Market Size, Share, Growth, Trends & …
Get PriceBattery Market Size and Trends. 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. Discover market dynamics shaping the industry: Request sample copy
Get PriceKey growth enablers of the global battery market: A diverse range of batteries are experiencing increased demand for automotive applications, particularly in electric and hybrid vehicles. An automotive battery plays a vital role in a vehicle''s …
Get PriceBattery 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 ...
Get PriceAnalysis of the Battery Technology Market from 2019 to 2023 vs. Market Outlook for 2024 to 2034. The global battery technology market secured a valuation of US$ 103.5 billion with a CAGR of 10.3% in 2023. The market captured a valuation of US$ 70.0 billion in 2019. Rising consumer demand for electricity, high-power, smooth chargeable options ...
Get PriceBattery Market Size 2024-2028. The battery market size is projected to increase by USD 296.60 billion, with a CAGR of 18.69% between 2023 to 2028. The automotive industry''s shift towards electric vehicles (EVs) and the escalating need for rechargeable batteries are driving market growth. This expansion is further propelled by the widespread adoption of consumer …
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