Market by Battery Type (Primary Battery, Secondary Battery), Technology (Lead-Acid, Lithium-Ion, Nickel-Cadmium, Nickel Metal Hydride, Nickel-Zinc (NiZn), Flow, Sodium-Sulfur (NaS), Zinc-Manganese Dioxide, Small Sealed Lead-Acid, Other Technologies), End-use (Automotive Batteries, Industrial Batteries, Portable Batteries, Power Tools Batteries, SLI Batteries, Other End-Uses), and Country Outlook | Forecast 2024-2032
Triton Market Research’s report suggests that the Europe battery market is expected to register growth at a CAGR of 15.52% during the forecast period 2024-2032.
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As the initiator of the Paris Climate Agreement, Europe has led the shift from internal combustion vehicles to electric vehicles, widening the scope for battery technology in the automotive industry. A variety of vehicles now feature increased hybridization and electrification, including plug-in hybrid electric vehicles, hybrid electric vehicles, and electric vehicles. For instance, as noted by IEA, new electric car registrations in the region reached nearly 3.2 million in 2023, marking a 20% increase from 2022. In the European Union, sales totaled 2.4 million, reflecting similar growth. Hence, the expanding automotive industry in the region is expected to drive the battery market growth in the coming years.
Besides, the rising demand for fast product delivery has spurred improvements in logistics and distribution across Europe, creating ample growth opportunities for Li-ion batteries in material handling.
The countries evaluated in this region include:
Germany leads the regional battery market, attaining $7966.35 million in 2023
Germany is a leading producer of electric vehicles in Europe, accounting for nearly 50% of the region’s EV production in 2023, as per IEA. The country produced a substantial share of Europe’s EV batteries, mainly driven by the increasing demand for electric cars and other applications like stationary storage systems.
The market for energy storage systems in Germany has been expanding significantly as part of the country’s energy transition strategy. According to the German Energy Storage System Association (BVES), in 2023, the ESS industry recorded an overall growth of 46% compared to 2022, registering sales of EUR 15.7 billion.
This growth is driven by the need to store surplus energy produced during off-peak hours for use during peak demand, balancing supply and demand in the renewable energy sector. Integrating battery storage systems is essential to manage the variability of renewable energy sources, ensuring a stable and reliable energy supply.
Market Forecast for France
The battery market in France is witnessing significant growth, boosted by substantial government investments and policy support. The nation is focused on enhancing its electric vehicle (EV) production capabilities, contributing to nearly 10% of Europe’s EV production in 2023. The government has implemented various measures to support this growth, including investments in renewable energy and energy storage systems as part of its broader energy transition goals. For instance, France aims to achieve a substantial increase in the share of renewable energy in its total energy consumption, targeting around 50% by 2030.
The market report is branched into end-use, technology, and battery type. The end-use section includes automotive, portable, industrial, power tools, SLI, and other end-uses.
Various types of batteries are now extensively utilized in the automotive sector, including those for hybrid and electric vehicles. Automotive batteries provide power to a vehicle’s electrical systems when the engine is not running. They also play a crucial role in starting the engine by supplying current to the electric starter motor and ignition system. Additionally, the starting, lighting, and ignition (SLI) applications in the automotive industry have significantly increased the demand for batteries in vehicles.
Contender Analysis in the Battery Market:
Exide Technologies manufactures a diverse range of lead and electric storage batteries, catering to various industries, including automotive, aviation, power generation, transportation, and telecommunications. The company is a leader in secondary recycling, offering Total Battery Management (or “closed loop recycling”), a service that relieves customers from managing spent batteries independently. Founded in 1888 and headquartered in France, Exide operates extensively across multiple regions, including Europe.
In July 2024, Exide Technologies introduced the Solition Mega Three at ees Europe. This advanced energy storage system features a compact design, 3.4 MWh capacity, and liquid-cooled components, suitable for front-of-the-meter and behind-the-meter usages.
The other well-known companies in the battery market include BYD Company Limited, Saft Groupe SA, Enersys, and C&D Technologies Inc.
KEY DELIVERABLES OF THE REPORT:
Market CAGR during the forecasting years 2024-2032
Detailed data highlighting key insights, industry components, and market strategies
Comprehensive information and estimation of the battery market revenue growth in Europe and its influence on the parent market
In-depth study of forthcoming trends in consumer behavioral patterns
A meticulous analysis of the competitive landscape and Porter’s Five Forces
A wide-ranging study of factors that will challenge the Europe battery market’s growth during the upcoming years
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VIEW REPORT1. EUROPE
BATTERY MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
ANALYSIS ON THE BATTERY MARKET
2.1.1. COVID-19
IMPACT
2.2. PORTER’S
FIVE FORCES ANALYSIS
2.2.1. THREAT
OF NEW ENTRANTS
2.2.2. THREAT
OF SUBSTITUTES
2.2.3. BARGAINING
POWER OF BUYERS
2.2.4. BARGAINING
POWER OF SUPPLIERS
2.2.5. THREAT
OF COMPETITIVE RIVALRY
2.3. MARKET
ATTRACTIVENESS INDEX
2.4. REGULATORY
FRAMEWORK
2.5. KEY BUYING
IMPACT ANALYSIS
2.5.1. ENERGY
DENSITY
2.5.2. BATTERY
MEMORY
2.5.3. LIFETIME
2.5.4. DURABILITY
2.6. SUPPLY
CHAIN ANALYSIS
2.6.1. RAW
MATERIAL
2.6.2. MANUFACTURING
& ASSEMBLY
2.6.3. DISTRIBUTION
2.6.4. END-USER
APPLICATIONS
2.6.5. AFTER-SALES
SERVICES
2.6.6. RECYCLING
2.7. KEY
MARKET STRATEGIES
2.7.1. COLLABORATIONS
2.7.2. PRODUCT
LAUNCHES
2.7.3. ACQUISITIONS
2.7.4. INVESTMENTS
& EXPANSIONS
2.8. MARKET
DRIVERS
2.8.1. INCREASING
POPULARITY OF CONSUMER ELECTRONICS
2.8.2. GOVERNMENT
INCENTIVES TO MANUFACTURE EV BATTERY
2.8.3. HIGH BATTERY
DEMAND FOR AUTOMOTIVE APPLICATIONS, PRIMARILY FROM EVS
2.9. MARKET
CHALLENGES
2.9.1. ISSUES
RELATED TO BATTERY RECYCLING
2.9.2. SAFETY
CONCERNS ASSOCIATED WITH BATTERY USE
2.9.3. VOLATILITY
IN RAW MATERIAL PRICES
2.10. MARKET
OPPORTUNITIES
2.10.1. INCREASING
ATTENTION TO SECOND-LIFE BATTERY USES
2.10.2. RISING
DEMAND FOR LARGER BATTERY PACKS
2.10.3. DEVELOPMENTS
IN BATTERY TECHNOLOGIES
2.11. ANALYST
PERSPECTIVE
3. EUROPE
BATTERY MARKET – BY BATTERY TYPE
3.1. PRIMARY
BATTERY
3.2. SECONDARY
BATTERY
4. EUROPE
BATTERY MARKET – BY TECHNOLOGY
4.1. LEAD-ACID
4.2. LITHIUM-ION
4.3. NICKEL-CADMIUM
4.4. NICKEL
METAL HYDRIDE
4.5. NICKEL-ZINC
(NIZN)
4.6. FLOW
4.7. SODIUM-SULFUR
(NAS)
4.8. ZINC-MANGANESE
DIOXIDE
4.9. SMALL
SEALED LEAD-ACID
4.10. OTHER TECHNOLOGIES
5. EUROPE
BATTERY MARKET – 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. EUROPE
BATTERY MARKET – BY COUNTRY OUTLOOK
6.1. UNITED
KINGDOM
6.1.1. UNITED
KINGDOM BATTERY MARKET FORECAST & PROSPECTS
6.2. GERMANY
6.2.1. GERMANY
BATTERY MARKET FORECAST & PROSPECTS
6.3. FRANCE
6.3.1. FRANCE
BATTERY MARKET FORECAST & PROSPECTS
6.4. ITALY
6.4.1. ITALY BATTERY
MARKET FORECAST & PROSPECTS
6.5. SPAIN
6.5.1. SPAIN BATTERY
MARKET FORECAST & PROSPECTS
6.6. REST
OF EUROPE
6.6.1. REST
OF EUROPE BATTERY MARKET FORECAST & PROSPECTS
7. COMPETITIVE
LANDSCAPE
7.1. GS
YUASA INTERNATIONAL LTD
7.1.1. OVERVIEW
7.1.2. PORTFOLIO
7.1.3. KEY
STRENGTH
7.1.4. KEY
CHALLENGE
7.2. JOHNSON
CONTROLS INC
7.2.1. OVERVIEW
7.2.2. PORTFOLIO
7.2.3. KEY
STRENGTH
7.2.4. KEY
CHALLENGE
7.3. PANASONIC
CORPORATION
7.3.1. OVERVIEW
7.3.2. PORTFOLIO
7.3.3. KEY
STRENGTHS
7.3.4. KEY
CHALLENGES
7.4. SAMSUNG
SDI CO LTD
7.4.1. OVERVIEW
7.4.2. PORTFOLIO
7.4.3. KEY
STRENGTH
7.4.4. KEY
CHALLENGE
7.5. A123
SYSTEMS LLC
7.5.1. OVERVIEW
7.5.2. PORTFOLIO
7.5.3. KEY
STRENGTH
7.5.4. KEY CHALLENGES
7.6. EXIDE
TECHNOLOGIES
7.6.1. OVERVIEW
7.6.2. PORTFOLIO
7.6.3. KEY
STRENGTH
7.6.4. KEY
CHALLENGE
7.7. ENERSYS
7.7.1. OVERVIEW
7.7.2. PORTFOLIO
7.7.3. KEY
STRENGTH
7.7.4. KEY
CHALLENGES
7.8. BYD
COMPANY LIMITED
7.8.1. OVERVIEW
7.8.2. PORTFOLIO
7.8.3. KEY
STRENGTH
7.8.4. KEY
CHALLENGE
7.9. C&D
TECHNOLOGIES INC
7.9.1. OVERVIEW
7.9.2. PORTFOLIO
7.9.3. KEY STRENGTHS
7.9.4. KEY
CHALLENGE
7.10. SAFT
GROUPE SA
7.10.1. OVERVIEW
7.10.2. PORTFOLIO
7.10.3. KEY
STRENGTH
7.10.4. KEY
CHALLENGE
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: EUROPE BATTERY MARKET,
BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
TABLE 2: REGULATORY FRAMEWORK
TABLE 3: LIST OF
COLLABORATIONS
TABLE 4: LIST OF PRODUCT
LAUNCHES
TABLE 5: LIST OF ACQUISITIONS
TABLE 6: LIST OF INVESTMENTS
& EXPANSIONS
TABLE 7: EUROPE BATTERY
MARKET, BY BATTERY TYPE, 2024-2032 (IN $ MILLION)
TABLE 8: EUROPE BATTERY
MARKET, BY TECHNOLOGY, 2024-2032 (IN $ MILLION)
TABLE 9: EUROPE BATTERY
MARKET, BY END-USE, 2024-2032 (IN $ MILLION)
TABLE 10: EUROPE BATTERY
MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
FIGURE
1: PORTER’S FIVE FORCES ANALYSIS
FIGURE
2: MARKET ATTRACTIVENESS INDEX
FIGURE
3: KEY BUYING IMPACT ANALYSIS
FIGURE
4: SUPPLY CHAIN ANALYSIS
FIGURE
5: EUROPE BATTERY MARKET, BY BATTERY TYPE, 2023 & 2032 (IN %)
FIGURE
6: EUROPE BATTERY MARKET, BY PRIMARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE
7: EUROPE BATTERY MARKET, BY SECONDARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE
8: EUROPE BATTERY MARKET, BY TECHNOLOGY, 2023 & 2032 (IN %)
FIGURE
9: EUROPE BATTERY MARKET, BY LEAD-ACID, 2024-2032 (IN $ MILLION)
FIGURE
10: EUROPE BATTERY MARKET, BY LITHIUM-ION, 2024-2032 (IN $ MILLION)
FIGURE
11: EUROPE BATTERY MARKET, BY NICKEL-CADMIUM, 2024-2032 (IN $ MILLION)
FIGURE
12: EUROPE BATTERY MARKET, BY NICKEL METAL HYDRIDE, 2024-2032 (IN $ MILLION)
FIGURE
13: EUROPE BATTERY MARKET, BY NICKEL-ZINC (NIZN), 2024-2032 (IN $ MILLION)
FIGURE
14: EUROPE BATTERY MARKET, BY FLOW, 2024-2032 (IN $ MILLION)
FIGURE
15: EUROPE BATTERY MARKET, BY SODIUM-SULFUR (NAS), 2024-2032 (IN $ MILLION)
FIGURE
16: EUROPE BATTERY MARKET, BY ZINC-MANGANESE DIOXIDE, 2024-2032 (IN $ MILLION)
FIGURE
17: EUROPE BATTERY MARKET, BY SMALL SEALED LEAD-ACID, 2024-2032 (IN $ MILLION)
FIGURE
18: EUROPE BATTERY MARKET, BY OTHER TECHNOLOGIES, 2024-2032 (IN $ MILLION)
FIGURE
19: EUROPE BATTERY MARKET, BY END-USE, 2023 & 2032 (IN %)
FIGURE
20: EUROPE BATTERY MARKET, BY AUTOMOTIVE BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE
21: EUROPE BATTERY MARKET, BY INDUSTRIAL BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE
22: EUROPE BATTERY MARKET, BY PORTABLE BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE
23: EUROPE BATTERY MARKET, BY POWER TOOLS BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE
24: EUROPE BATTERY MARKET, BY SLI BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE
25: EUROPE BATTERY MARKET, BY OTHER END-USES, 2024-2032 (IN $ MILLION)
FIGURE
26: EUROPE BATTERY MARKET, BY COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE
27: UNITED KINGDOM BATTERY MARKET 2024-2032 (IN $ MILLION)
FIGURE
28: GERMANY BATTERY MARKET 2024-2032 (IN $ MILLION)
FIGURE
29: FRANCE BATTERY MARKET 2024-2032 (IN $ MILLION)
FIGURE
30: ITALY BATTERY MARKET 2024-2032 (IN $ MILLION)
FIGURE
31: SPAIN BATTERY MARKET 2024-2032 (IN $ MILLION)
FIGURE
32: REST OF EUROPE BATTERY MARKET 2024-2032 (IN $ MILLION)