Dublin, May 08, 2023 (GLOBE NEWSWIRE) — The “Battery: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Battery Market to Reach $275.3 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Battery estimated at US$115 Billion in the year 2022, is projected to reach a revised size of US$275.3 Billion by 2030, growing at a CAGR of 11.5% over the analysis period 2022-2030.
Lead Acid, one of the segments analyzed in the report, is projected to record a 7.1% CAGR and reach US$56.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Lithium Ion segment is readjusted to a revised 17.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $16.9 Billion, While China is Forecast to Grow at 13.7% CAGR
The Battery market in the U.S. is estimated at US$16.9 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$56.1 Billion by the year 2030 trailing a CAGR of 13.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.3% and 10.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$38.3 Billion by the year 2030.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 815 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $115 Billion |
| Forecasted Market Value (USD) by 2030 | $275.3 Billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- Disruption to Supply Chains Impacts Battery Materials Market Prospects
- COVID-19 Pandemic Drives Europe to Fortify All Sections of Battery Value Chain
- Energy-Storage Materials for Li-Ion Batteries Face COVID-19 Headwinds
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Importance of Batteries in the Modern World
- What is a Battery?
- Evolution of Battery over the Years: A Snapshot
- Market Outlook
- Asia-Pacific to Experience Favorable Growth
- Regionalization of Supply Chains
- Competition in Li-Ion Battery Market
- Market Share of Leading Li-ion Battery Manufacturers (in %): 2020
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Li-ion Battery Registers Strong Growth with Expanding Applications in Consumer Electronics, Electric Vehicles and Energy Storage Sectors
- A Comparative Review of Key Properties of Different Li-ion Batteries
- Existing and Emerging Applications of Lithium-Ion Batteries
- China Dominates Li-ion Battery Production, US and Europe Make Efforts to Gain Strong Position
- Leading Li-ion Battery Mega Factories Worldwide: Ranked by Storage Capacity in GWh Per Annum
- Robust Outlook for EVs Opens New Avenues of Growth for EV Batteries
- Pandemic Impact on EVs and Prospects for Battery Technologies
- Electric Micromobility Rises in Prominence Amid Covid-19 Pandemic
- Global Automakers Focus on Securing Raw Materials for EVs
- Rising Sales of Electric Buses Bolsters Demand for Li-ion Batteries
- Shortfall of Raw Materials to Augment Cost of EV Batteries
- Major Players Operating in the EV Battery Space
- Production of Electric Cars Set to Increase Focus on Recycling
- Li-ion Batteries Emerge as the Dominant Technology for Grid-Scale Energy Storage
- Comparison of Key Features for NaS Battery, Lithium-ion Battery, and Flow Battery Technologies
- Rapid Growth of Renewable Energy Market Drives Opportunities
- Increase in Offshore Wind Installations Presents New Opportunities
- Lithium-ion Solar Batteries Hold an Edge over Lead Acid Batteries for Residential Solar Customers
- Key Trends Driving the Battery Energy Storage Systems Market
- Rapid Proliferation of Smart Homes Bodes Well for Battery Uptake
- Driven by Focus on Convenience, Comfort and Energy Savings, the Rising Proliferation of Smart Homes Presents Steady Growth Opportunities for Batteries Market
- Smart Cities & IoT Push Up the Need for Smart Batteries
- New Battery Chemistry and Modularity at the Forefront of Innovations in UPS Systems
- Battery Management Gains Precedence
- Backup Power Demand Gives Special Thrust to Lead-Acid Batteries amid COVID-19
- Graphene Holds the Potential to Enhance Attributes of Li-ion Batteries
- Smart UPS Systems Built on Li-Ion Batteries Present Exciting Opportunities for Data Centers to Leverage Stored, Unused Energy
- Increasing Adoption of Li-ion Batteries in Data Centers
- Complex Infrastructure and Scale of Modern Data Centers Necessitates Energy Storage: Potential for Flow Batteries
- Demand for Portable Batteries Set to Rise in Tandem with Expansion of Portable Applications
- Opportunities and Challenges of Sustainable Battery Production
- Li-ion Batteries Offer Support for Industrial Applications
- Increased Preference for Li-ion Batteries by Motorcycle Manufacturers Due to High Resistivity to Drive the Market Growth
- Dynamics in the Consumer Batteries Space
- Growing Demand for Mobile Computing Devices To Spur Demand
- Widespread Use of Li-ion Batteries in Smartphones
- Li-ion Batteries Gain Momentum in Wearable Devices
- Demand for Smart Batteries Pushes Up the Importance of Battery Fuel Gauge ICs
- The Rise of Drones Spurs Demand for Drone Batteries
- Advanced Batteries for UAV Drones
- Nickel Cadmium Batteries: Declining Demand Deters Market Prospects
- Decelerating Demand Deters Nickel Metal Hydride Batteries Segment
- Flow Batteries Gain Demand
- Smart Grids Elevate the Prospects for Flow Batteries
- Pandemic Impact on the Vanadium Redox Battery Market
- Vanadium Flow Batteries: Unveiling the Much Needed Energy Storage Breakthrough
- Global Next Generation Advanced Batteries to Witness Rapid Growth as Industry Focuses on Sustainability
- Lithium Polymer Battery Attracts Growth
- Lithium Sulphur Batteries Demand to Accelerate
- Lead-Acid Batteries Remain Central to the Automotive Industry
- Short Life of Lead Acid Batteries & Growing Vehicle PARC Fuels Opportunities for Aftermarket Batteries
- Auto Production Halts Induced by Chip Shortages Hobbles Much Awaited Recovery
- Rising Share of Electronics in Automobiles to Augment Demand
- Growing Significance of Solid-State Batteries Over Traditional Lithium-ion Battery Systems to Drive the Market Growth
- Solid-State Technology Seeks Role in EV Domain
- Battery Chemistry Improvements Augment Innovations & Advancements
- Researchers Aim to Develop Advanced Li-Ion Batteries for Electric Vehicles
- Inadequacies of Electrolyte-based Li-Ion Battery Cells Prompt New R&D Investments
- Select Battery Innovations and Developments
- Growing Affluence of Middle Class Consumer Segment
- Rising Living Standards
FOCUS ON SELECT PLAYERS (Total 262 Featured)
- A123 Systems LLC
- BYD Company Ltd.
- Contemporary Amperex Technology Co. Ltd.
- Duracell Inc.
- EnerDel, Inc.
- Eveready Industries India Ltd.
- Exide Technologies, Inc.
- GS Yuasa International Ltd.
- Hitachi High-Tech Corporation
- Johnson Controls International PLC
- LG Chem Ltd.
- NEC Corporation
- Panasonic Corporation
- Robert Bosch GmbH
- Saft Groupe SA
- Samsung SDI Co., Ltd.
- Sony Corporation
- Tesla, Inc.
- Toshiba Corporation
- Trojan Battery Company
For more information about this report visit https://www.researchandmarkets.com/r/cva5gt
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- Global Market for Battery