New York , Jan. 08, 2024 (GLOBE NEWSWIRE) — The global battery manufacturing equipment market size is projected to grow at a CAGR of over 31% from 2024 to 2036. The market is expected to garner a revenue of USD 255 billion by the end of 2036, up from a revenue of USD 10 billion in the year 2023. Numerous factors, including the burgeoning energy storage and the increased demand for electric vehicles, are driving up the price of lithium-ion batteries globally. Demand for automotive lithium-ion batteries rose by around 65% to 550 GWh in 2022. Businesses in the battery sector concentrate on creating environmentally friendly battery technologies and expanding their manufacturing capabilities to keep up with the increased demand. As a result, battery manufacturing facilities are multiplying quickly worldwide.

(GlobeNewsWire)