GLOBAL BATTERY MARKET 2022-2028

Energy, Power & Utilities | Energy Storage

GLOBAL BATTERY MARKET 2022-2028

Market by Battery Type, Technology, End-use and Regional Outlook | Forecast 2022-2028

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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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Table of Content

1. 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

List of Tables

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)

List of Figures

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)

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