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Global Battery Market Size, Share, Trends, Report, Forecast: By Product: Lithium-Ion, Lead Acid, Nickel Metal Hydride, Nickel Cadmium, Others; By Application: Automotive Batteries, Industrial Batteries, Portable Batteries; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Battery Market Size
The global battery market attained a value of USD 176.42 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 15%.
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.
Primary batteries are single-use batteries that cannot be recharged. Once their chemical reactants are exhausted, the battery loses its ability to produce electricity and must be disposed of. Common examples include alkaline batteries often used in remote controls and flashlights. Secondary batteries, also known as rechargeable batteries, can be recharged and used multiple times. During the charging process, the chemical reactions are reversed, restoring the electrodes to their original state.
Batteries are used in a wide variety of applications, from powering small devices like watches and smartphones to larger applications like electric vehicles and energy storage systems for renewable energy sources like solar and wind power.
Battery Market Report Snapshots
Battery Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
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 (2018-2023)
8.3 Global Battery Market Forecast (2024-2032)
8.4 Global Battery Market by Product
8.4.1 Lithium-Ion
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Lead Acid
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Nickel Metal Hydride
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Nickel Cadmium
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Battery Market by Application
8.5.1 Automotive Batteries
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Industrial Batteries
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Portable Batteries
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Battery Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Battery Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Battery Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Battery Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Battery Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Battery Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
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 2032
2. Global Battery Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Battery Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Battery Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Battery Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Battery Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Battery Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Battery Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Battery Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Battery Market Structure
Key Questions Answered in the Report
In 2023, the global battery market attained a value of nearly USD 176.42 billion.
The market is projected to grow at a CAGR of 15% between 2024 and 2032.
The major market drivers are rapid urbanisation and urbanisation in emerging countries, the surging use of electronic vehicles, and the rising use of consumer electronics.
The increasing research and development (R&D) by major players activities, technological advancements and innovations, the growing demand for sustainable batteries, and the surging usage of lithium-ion batteries are the key trends supporting the market expansion.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major products considered in the market report are lithium-ion, lead acid, nickel metal hydride, and nickel cadmium, among others.
The significant applications of battery include automotive batteries, industrial batteries, and portable batteries.
The major players in the market are LG Energy Solution, GS Yuasa International Ltd., BYD Company Ltd., Exide Industries Ltd., Johnson Controls, and Panasonic Corporation, among others.
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