Market by Battery Type, Technology, End-use and Regional Outlook | Forecast 2022-2028
A battery refers to an electrochemical device (consisting of one or more
electrochemical cells) that can be charged through electric current and
discharged whenever required. These are usually the devices that are developed
of various electrochemical cells connected to the external inputs and outputs.
According to Triton Market Research’s report, the Global Battery Market was valued at $117457.70 million in 2021 and is expected to reach $310423.77 million by 2028, growing at a CAGR of 15.68% during the forecast period 2022-2028.
Click here to check out our blog on the Global Battery Market
MARKET PERFORMANCE: DRIVERS,
CHALLENGES AND TRENDS
Over the forecast period, the market expansion
is likely to be fueled by the rising popularity of consumer electronics,
incentives for electric vehicle battery manufacturing, declining battery
prices, and high demand for automotive applications, majorly from electric
vehicles. Governments of
different countries across the globe are offering incentives for manufacturing
electric vehicle batteries, which is expected to promote the growth of the
global battery market during the forecast period. For instance, in 2022, the US
Department of Energy announced a program worth $3 billion to manufacture
batteries and supply chain to support the transition to electric vehicles.
Also, in 2020, the government of India announced its plans to offer an amount
worth $4.6 billion in incentives to companies aiming to set up advanced battery
manufacturing facilities across the country as it seeks to promote the use of
electric vehicles while cutting down its dependence on oil. As a result, in
2022, the allotment for the same was made for 50 GWh of battery capacity to
four successful bidders for the incentive under the Production Linked Incentive
Scheme for Advanced Chemistry Cell (ACC) Battery Storage through direct
investments. The manufacturing facility has to be set up within two years. All
the factors mentioned above are expected to supplement the market growth.
The market, however, must overcome significant
obstacles like safety issues pertaining to battery usage, volatility in raw
material prices, and issues pertaining to battery recycling. Issues related to battery recycling are another
factor negatively impacting the market growth during the forecast period. A
lithium-ion battery is recyclable; however, the process is difficult. Lithium
is a highly reactive element. Increased heat and electric discharge may result
in damage to the power cells. Even when the process is done properly,
stockpiling water lithium-ion batteries is environmentally risky and
potentially unsafe. Unlike other materials, lithium-ion batteries can not be
reused directly. Also, short-circuiting a lithium-ion battery during the
recycling process may also lead to rapid discharge and overheating, producing
noxious byproduct gasses and causing a cell to explode. Hence, all such
challenges make the process of battery recycling challenging, which is expected
to hinder the growth of the global battery market during the forecast period.
Additionally, increasing demand for
energy storage systems and the emergence of AGM batteries are expected to
create an overall positive outlook for the market. Energy storage is crucial in
balancing variable generation sources and grid integration. Increasing the
system’s overall flexibility can reduce peak demand, improve power quality,
avoid/reduce deviation penalties, enhance the capacity of distribution/transmission
grids, and others. Hence, the rise in the deployment capacity of energy storage
is anticipated to enhance the demand and the adoption of energy storage systems
(ESS), like batteries, and thereby positively impact the market growth during
the forecast period.
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KEY GEOGRAPHIES COVERED:
• North America: United
States and Canada
• Europe: United Kingdom,
France, Germany, Spain, Italy, Russia, and Rest of Europe
• Asia-Pacific: China,
Japan, India, South Korea, ASEAN Countries, Australia & New Zealand, and
Rest of Asia-Pacific
• Latin America: Brazil,
Mexico, and Rest of Latin America
• Middle East and Africa:
United Arab Emirates, Saudi Arabia, Turkey, South Africa, and Rest of Middle
East & Africa
SEGMENTATION ANALYSIS –
BATTERY MARKET:
• Market by Battery Type:
o Primary Battery
o Secondary Battery
Secondary battery is expected to dominate the
market during the forecast period. Various electrolytes and electrode materials are used, including
zinc-air, lead-acid, nickel-cadmium, nickel-metal hydride, lithium-ion,
lithium-iron phosphate, and lithium-ion polymer. Market players across the
globe are taking a range of strategic initiatives pertaining to secondary
batteries, which is expected to positively impact the market growth during the
forecast period.
• Market by Technology:
o Lead-Acid Battery
o Lithium-Ion Battery
o Nickel-Cadmium Battery
o Nickel Metal Hydride Battery
o Nickel-Zinc (NiZn) Battery
o Flow Battery
o Sodium-Sulfur (NAS) Battery
o Zinc-Manganese Dioxide Battery
o Small Sealed Lead-Acid Battery
o Other Technologies
• Market by End-use:
o Automotive Batteries
o Industrial Batteries
o Portable Batteries
o Power Tools Batteries
o SLI Batteries
o Other End-uses
SLI
Batteries is expected to dominate the market during the forecast period. An SLI (Starting Lighting and Ignition)
battery is a rechargeable, lead-acid battery primarily used in different
automotive applications. SLI batteries are used for the three most important
vehicles: the starter motor, lighting, and the ignition system. There have been
significant developments by the global market players in the SLI battery
market.
COMPETITIVE LANDSCAPE:
The competitive landscape helps dive into data about the key players in
the global battery market. The strategic initiatives for each of the companies
considered have been covered in detail.
Product Launch (April 2022):
Gautam Solar launched its new Gel Battery
Gautam Solar unveiled its new Gel Battery for the international and
domestic markets, which satisfies the requirement and demand for energy storage
solutions for telecom, solar power plants, and rural electrification.
Partnership (March 2022):
Urban Electric Power and Alchemy Industrial partnered to launch Ohm Core
Alchemy Industrial and Urban Electric Power partnered (design and
engineering) to unveil Ohm Core (a residential energy storage system). It is
based on alkaline batteries which are rechargeable.
Key Benefits of the Report:
●
Triton Market Research has a collective experience of 25-30 years
in the industry, with its analysts and experts encompassing the most infallible
research methodology for its market intelligence and industry analysis.
●
Our research methodology helps in achieving a broader consensus of
the market size, shape, and industry trends within each industry segment.
●
The strategy adopted in designing the research methodology
includes the amalgamation of the information assembled from primary and
secondary sources, with the assistance of analytical tools to construct the
forecast and predictive models.
●
The scope of the market report comprises the current scenario of
the global Battery market, along with the detailed overview of the industry
outlook, market dynamics, segmentation analysis, regional outlook, and
competitive landscape for the period 2022-2028.
FAQs:
Q 1) Does this report include
the impact of COVID-19 on the battery market?
The market study has analyzed the impact of COVID-19 on the battery
market qualitatively as well as quantitatively.
Q 2) Which battery type is
dominating?
Secondary Battery accounted for the largest market share in terms of
revenue in 2021 and is expected to dominate the market during the forecast
period.
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VIEW REPORT1. GLOBAL
BATTERY MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON THE BATTERY MARKET
2.2. KEY
INSIGHTS
2.2.1. INCREASING
DEMAND FOR ENERGY STORAGE SYSTEMS
2.2.2. EMERGENCE
OF AGM BATTERIES
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
ATTRACTIVENESS INDEX
2.5. VENDOR
SCORECARD
2.6. KEY
MARKET STRATEGIES
2.6.1. PRODUCT
LAUNCHES & DEVELOPMENTS
2.6.2. PARTNERSHIPS
& AGREEMENTS
2.7. MARKET
DRIVERS
2.7.1. RISING
POPULARITY OF CONSUMER ELECTRONICS
2.7.2. INCENTIVES
FOR MANUFACTURING ELECTRIC VEHICLE BATTERIES
2.7.3. DECLINING
BATTERY PRICES
2.7.4. HIGH
DEMAND FOR AUTOMOTIVE APPLICATIONS
2.8. MARKET
CHALLENGES
2.8.1. SAFETY
ISSUES PERTAINING TO BATTERY USAGE
2.8.2. VOLATILITY
IN THE PRICES OF RAW MATERIALS
2.8.3. ISSUES
PERTAINING TO BATTERY RECYCLING
2.9. MARKET
OPPORTUNITIES
2.9.1. INCREASING
PENETRATION OF MARINE BATTERIES
2.9.2. GOVERNMENT
INCENTIVES FOR CLEANER TRANSPORTATION
3. GLOBAL
BATTERY MARKET OUTLOOK - BY BATTERY TYPE
3.1. PRIMARY
BATTERY
3.2. SECONDARY
BATTERY
4. GLOBAL
BATTERY MARKET OUTLOOK - BY TECHNOLOGY
4.1. LEAD-ACID
BATTERY
4.2. LITHIUM-ION
BATTERY
4.3. NICKEL-METAL
HYDRIDE (NIMH) BATTERY
4.4. NICKEL-CADMIUM
(NICD) BATTERY
4.5. NICKEL-ZINC
(NIZN) BATTERY
4.6. FLOW
BATTERY
4.7. SODIUM-SULFUR
(NAS) BATTERY
4.8. ZINC-MANGANESE
DIOXIDE BATTERY
4.9. SMALL
SEALED LEAD-ACID BATTERY
4.10. OTHER
TECHNOLOGIES
5. GLOBAL
BATTERY MARKET OUTLOOK - BY END-USE
5.1. AUTOMOTIVE
BATTERIES
5.2. INDUSTRIAL
BATTERIES
5.3. PORTABLE
BATTERIES
5.4. POWER
TOOLS BATTERIES
5.5. SLI
BATTERIES
5.6. OTHER
END-USES
6. GLOBAL
BATTERY MARKET - REGIONAL OUTLOOK
6.1. NORTH
AMERICA
6.1.1. MARKET
BY BATTERY TYPE
6.1.2. MARKET
BY TECHNOLOGY
6.1.3. MARKET
BY END-USE
6.1.4. COUNTRY
ANALYSIS
6.1.4.1. UNITED
STATES
6.1.4.2. CANADA
6.2. EUROPE
6.2.1. MARKET
BY BATTERY TYPE
6.2.2. MARKET
BY TECHNOLOGY
6.2.3. MARKET
BY END-USE
6.2.4. COUNTRY
ANALYSIS
6.2.4.1. UNITED
KINGDOM
6.2.4.2. GERMANY
6.2.4.3. FRANCE
6.2.4.4. SPAIN
6.2.4.5. ITALY
6.2.4.6. REST
OF EUROPE
6.3. ASIA-PACIFIC
6.3.1. MARKET
BY BATTERY TYPE
6.3.2. MARKET
BY TECHNOLOGY
6.3.3. MARKET
BY END-USE
6.3.4. COUNTRY
ANALYSIS
6.3.4.1. CHINA
6.3.4.2. JAPAN
6.3.4.3. INDIA
6.3.4.4. SOUTH
KOREA
6.3.4.5. ASEAN
COUNTRIES
6.3.4.6. AUSTRALIA
& NEW ZEALAND
6.3.4.7. REST
OF ASIA-PACIFIC
6.4. LATIN
AMERICA
6.4.1. MARKET
BY BATTERY TYPE
6.4.2. MARKET
BY TECHNOLOGY
6.4.3. MARKET
BY END-USE
6.4.4. COUNTRY
ANALYSIS
6.4.4.1. BRAZIL
6.4.4.2. MEXICO
6.4.4.3. REST
OF LATIN AMERICA
6.5. MIDDLE
EAST AND AFRICA
6.5.1. MARKET
BY BATTERY TYPE
6.5.2. MARKET
BY TECHNOLOGY
6.5.3. MARKET
BY END-USE
6.5.4. COUNTRY
ANALYSIS
6.5.4.1. UNITED
ARAB EMIRATES
6.5.4.2. SAUDI
ARABIA
6.5.4.3. TURKEY
6.5.4.4. SOUTH
AFRICA
6.5.4.5. REST
OF MIDDLE EAST & AFRICA
7. COMPETITIVE
LANDSCAPE
7.1. JOHNSONS
CONTROLS INC
7.2. GS
YUASA INTERNATIONAL LTD
7.3. EXIDE
TECHNOLOGIES
7.4. LG
CHEM LTD
7.5. A123
SYSTEMS LLC
7.6. TOSHIBA
CORPORATION
7.7. PANASONIC
CORPORATION
7.8. SAMSUNG
SDI CO LTD
7.9. SAFT
GROUPE SA
7.10. TROJAN
BATTERY COMPANY
7.11. BYD
COMPANY LTD
7.12. NEC
CORPORATION
7.13. EVEREADY
INDUSTRIES
7.14. DURACELL
7.15. EAST
PENN MANUFACTURING CO
7.16. CROWN
BATTERY MANUFACTURING COMPANY
7.17. C&D
TECHNOLOGIES INC
7.18. ENERSYS
7.19. MURATA
MANUFACTURING CO LTD
7.20. SHENZHEN
BAK BATTERY CO LTD
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL BATTERY
MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 2: VENDOR SCORECARD
TABLE 3: GLOBAL BATTERY
MARKET, BY BATTERY TYPE, 2022-2028 (IN $ MILLION)
TABLE 4: GLOBAL BATTERY
MARKET, BY TECHNOLOGY, 2022-2028 (IN $ MILLION)
TABLE 5: GLOBAL BATTERY
MARKET, BY END-USE, 2022-2028 (IN $ MILLION)
TABLE 6: GLOBAL BATTERY
MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 7: NORTH AMERICA BATTERY
MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 8: NORTH AMERICA BATTERY
MARKET, BY BATTERY TYPE, 2022-2028 (IN $ MILLION)
TABLE 9: NORTH AMERICA BATTERY
MARKET, BY TECHNOLOGY, 2022-2028 (IN $ MILLION)
TABLE 10: NORTH AMERICA
BATTERY MARKET, BY END-USE, 2022-2028 (IN $ MILLION)
TABLE 11: EUROPE BATTERY
MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 12: EUROPE BATTERY
MARKET, BY BATTERY TYPE, 2022-2028 (IN $ MILLION)
TABLE 13: EUROPE BATTERY
MARKET, BY TECHNOLOGY, 2022-2028 (IN $ MILLION)
TABLE 14: EUROPE BATTERY
MARKET, BY END-USE, 2022-2028 (IN $ MILLION)
TABLE 15: ASIA-PACIFIC BATTERY
MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 16: ASIA-PACIFIC BATTERY
MARKET, BY BATTERY TYPE, 2022-2028 (IN $ MILLION)
TABLE 17: ASIA-PACIFIC BATTERY
MARKET, BY TECHNOLOGY, 2022-2028 (IN $ MILLION)
TABLE 18: ASIA-PACIFIC BATTERY
MARKET, BY END-USE, 2022-2028 (IN $ MILLION)
TABLE 19: LATIN AMERICA
BATTERY MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 20: LATIN AMERICA
BATTERY MARKET, BY BATTERY TYPE, 2022-2028 (IN $ MILLION)
TABLE 21: LATIN AMERICA
BATTERY MARKET, BY TECHNOLOGY, 2022-2028 (IN $ MILLION)
TABLE 22: LATIN AMERICA
BATTERY MARKET, BY END-USE, 2022-2028 (IN $ MILLION)
TABLE 23: MIDDLE EAST AND
AFRICA BATTERY MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 24: MIDDLE EAST AND
AFRICA BATTERY MARKET, BY BATTERY TYPE, 2022-2028 (IN $ MILLION)
TABLE 25: MIDDLE EAST AND
AFRICA BATTERY MARKET, BY TECHNOLOGY, 2022-2028 (IN $ MILLION)
TABLE 26: MIDDLE EAST AND
AFRICA BATTERY MARKET, BY END-USE, 2022-2028 (IN $ MILLION)
FIGURE 1: MARKET
ATTRACTIVENESS INDEX
FIGURE 2: GLOBAL BATTERY
MARKET, BY BATTERY TYPE, 2021 & 2028 (IN %)
FIGURE 3: GLOBAL BATTERY MARKET,
BY PRIMARY BATTERY, 2022-2028 (IN $ MILLION)
FIGURE 4: GLOBAL BATTERY
MARKET, BY SECONDARY BATTERY, 2022-2028 (IN $ MILLION)
FIGURE 5: GLOBAL BATTERY
MARKET, BY TECHNOLOGY, 2021 & 2028 (IN %)
FIGURE 6: GLOBAL BATTERY
MARKET, BY LEAD-ACID BATTERY, 2022-2028 (IN $ MILLION)
FIGURE 7: GLOBAL BATTERY
MARKET, BY LITHIUM-ION BATTERY, 2022-2028 (IN $ MILLION)
FIGURE 8: GLOBAL BATTERY
MARKET, BY NICKEL-METAL HYDRIDE (NIMH) BATTERY, 2022-2028 (IN $ MILLION)
FIGURE 9: GLOBAL BATTERY
MARKET, BY NICKEL-CADMIUM (NICD) BATTERY, 2022-2028 (IN $ MILLION)
FIGURE 10: GLOBAL BATTERY
MARKET, BY NICKEL-ZINC (NIZN) BATTERY, 2022-2028 (IN $ MILLION)
FIGURE 11: GLOBAL BATTERY
MARKET, BY FLOW BATTERY, 2022-2028 (IN $ MILLION)
FIGURE 12: GLOBAL BATTERY
MARKET, BY SODIUM-SULFUR (NAS) BATTERY, 2022-2028 (IN $ MILLION)
FIGURE 13: GLOBAL BATTERY
MARKET, BY ZINC-MANGANESE DIOXIDE BATTERY, 2022-2028 (IN $ MILLION)
FIGURE 14: GLOBAL BATTERY
MARKET, BY SMALL SEALED LEAD-ACID BATTERY, 2022-2028 (IN $ MILLION)
FIGURE 15: GLOBAL BATTERY MARKET,
BY OTHER TECHNOLOGIES, 2022-2028 (IN $ MILLION)
FIGURE 16: GLOBAL BATTERY
MARKET, BY END-USE, 2021 & 2028 (IN %)
FIGURE 17: GLOBAL BATTERY
MARKET, BY AUTOMOTIVE BATTERIES, 2022-2028 (IN $ MILLION)
FIGURE 18: GLOBAL BATTERY
MARKET, BY INDUSTRIAL BATTERIES, 2022-2028 (IN $ MILLION)
FIGURE 19: GLOBAL BATTERY
MARKET, BY PORTABLE BATTERIES, 2022-2028 (IN $ MILLION)
FIGURE 20: GLOBAL BATTERY
MARKET, BY POWER TOOLS BATTERIES, 2022-2028 (IN $ MILLION)
FIGURE 21: GLOBAL BATTERY
MARKET, BY SLI BATTERIES, 2022-2028 (IN $ MILLION)
FIGURE 22: GLOBAL BATTERY
MARKET, BY OTHER END-USES, 2022-2028 (IN $ MILLION)
FIGURE 23: GLOBAL BATTERY
MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN %)
FIGURE 24: UNITED STATES
BATTERY MARKET 2022-2028 (IN $ MILLION)
FIGURE 25: CANADA BATTERY
MARKET 2022-2028 (IN $ MILLION)
FIGURE 26: UNITED KINGDOM
BATTERY MARKET 2022-2028 (IN $ MILLION)
FIGURE 27: GERMANY BATTERY
MARKET 2022-2028 (IN $ MILLION)
FIGURE 28: FRANCE BATTERY
MARKET 2022-2028 (IN $ MILLION)
FIGURE 29: SPAIN BATTERY
MARKET 2022-2028 (IN $ MILLION)
FIGURE 30: ITALY BATTERY
MARKET 2022-2028 (IN $ MILLION)
FIGURE 31: REST OF EUROPE
BATTERY MARKET 2022-2028 (IN $ MILLION)
FIGURE 32: CHINA BATTERY
MARKET 2022-2028 (IN $ MILLION)
FIGURE 33: JAPAN BATTERY
MARKET 2022-2028 (IN $ MILLION)
FIGURE 34: INDIA BATTERY
MARKET 2022-2028 (IN $ MILLION)
FIGURE 35: SOUTH KOREA BATTERY
MARKET 2022-2028 (IN $ MILLION)
FIGURE 36: ASEAN COUNTRIES
BATTERY MARKET 2022-2028 (IN $ MILLION)
FIGURE 37: AUSTRALIA & NEW
ZEALAND BATTERY MARKET 2022-2028 (IN $ MILLION)
FIGURE 38: REST OF
ASIA-PACIFIC BATTERY MARKET 2022-2028 (IN $ MILLION)
FIGURE 39: BRAZIL BATTERY
MARKET 2022-2028 (IN $ MILLION)
FIGURE 40: MEXICO BATTERY
MARKET, 2022-2028 (IN $ MILLION)
FIGURE 41: REST OF LATIN
AMERICA BATTERY MARKET 2022-2028 (IN $ MILLION)
FIGURE 42: UNITED ARAB
EMIRATES BATTERY MARKET 2022-2028 (IN $ MILLION)
FIGURE 43: SAUDI ARABIA
BATTERY MARKET 2022-2028 (IN $ MILLION)
FIGURE 44: TURKEY BATTERY
MARKET 2022-2028 (IN $ MILLION)
FIGURE 45: SOUTH AFRICA
BATTERY MARKET 2022-2028 (IN $ MILLION)
FIGURE 46: REST OF MIDDLE EAST
AND AFRICA BATTERY MARKET 2022-2028 (IN $ MILLION)
