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Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

February 2023 | 143 pages | ID: B1B9D001A5E5EN
IMARC Group

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The global battery market size reached US$ 116.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 197.8 Billion by 2028, exhibiting a growth rate (CAGR) of 8.8% during 2023-2028. The increasing adoption of smartwatches and fitness bands to count steps, track calorie intake, and analyze heart rate; rising demand for rechargeable batteries in the aerospace industry to provide power to the engines of modern commercial and private aircraft; and the growing utilization of various medical devices, such as electrocardiograms, electrocardiographs, and infusion pumps represent some of the key factors driving the market.

A battery refers to an electrical device that stores energy and discharges it by transforming chemical energy into electricity. It comprises a container, cathode, separator, anode, electrodes, electrolyte, and collector. It is commercially available in a wide variety, such as alkaline, lithium-ion (Li-ion), lithium-polymer, nickel-metal hydride, atomic, nickel-cadmium, and lead acid batteries. It is extensively incorporated into various electronic devices, such as handheld video consoles, digital cameras, laptops, mobile phones, stereos, and digital versatile disc (DVD) players. It is also utilized for providing power and operating electronic cars, trucks, motorcycles, and boats. It is integrated into numerous medical devices, such as critical care equipment, cardiovascular care devices, pacemakers, ventricular assist systems, drug delivery devices, surgical power tools, home monitoring systems, powered prosthetics, and orthotics. It is also used for storing energy generated by renewable sources, such as solar panels and wind power. Furthermore, as it is cost-effective, provides better energy density, and requires minimum maintenance, the demand for batteries is increasing around the world.

Battery Market Trends:
At present, the increasing demand for batteries due to the rising utilization of electronic appliances represents one of the primary factors influencing the market positively. Besides this, the growing utilization of medical devices, such as electrocardiograms, electrocardiographs, infusion pumps, glucose meters, and other testing kits, to achieve accurate results is offering a favorable market outlook. In addition, governing agencies of various countries are encouraging the use of electronic vehicles (EVs) powered by Li-ion batteries to reduce fuel dependency and minimize the negative impacts of air pollution. They are also introducing EVs in the public transportation system to improve air quality and minimize vehicular carbon emissions. Apart from this, the increasing adoption of smartwatches and fitness bands to count steps, track calorie intake, and analyze heart rate is propelling the growth of the market. Additionally, the rising demand for rechargeable batteries in the aerospace industry to provide power to the engines of modern commercial and private aircraft is contributing to the growth of the market. Moreover, the increasing employment of batteries in submarines, as they require shorter charging times, is supporting the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global battery market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, product and application.

Type Insights:

Primary Battery
Secondary Market

The report has provided a detailed breakup and analysis of the battery market based on the type. This includes primary battery and secondary market.

Product Insights:

Lithium-Ion
Lead Acid
Nickel Metal Hydride
Nickel Cadmium
Others

A detailed breakup and analysis of the battery market based on the product has also been provided in the report. This includes lithium-ion, lead acid, nickel metal hydride, nickel cadmium, and others. According to the report, lithium-ion accounted for the largest market share.

Application Insights:

Automotive Batteries
Industrial Batteries
Portable Batteries

A detailed breakup and analysis of the battery market based on the application has also been provided in the report. This includes automotive batteries, industrial batteries, and portable batteries. According to the report, automotive batteries accounted for the largest market share.

Regional Insights:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for battery. Some of the factors driving the Asia Pacific battery market included the increasing use of electronic vehicles (EVs), technological advancements, high healthcare expenditure, etc.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global battery market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include A123 Systems LLC, BYD Motors Inc., Contemporary Amperex Technology Co. Ltd., Envision AESC Group Ltd., GS Yuasa International Ltd., Johnson Controls, Panasonic Holdings Corporation, Robert Bosch GmbH, Saft (Total Energies SE), Samsung SDI Co. Ltd., Tesla Inc., Toshiba Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. What was the size of the global battery market in 2022?
2. What is the expected growth rate of the global battery market during 2023-2028?
3. What are the key factors driving the global battery market?
4. What has been the impact of COVID-19 on the global battery market?
5. What is the breakup of the global battery market based on the product?
6. What is the breakup of the global battery market based on the application?
7. What are the key regions in the global battery market?
8. Who are the key players/companies in the global battery market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL BATTERY MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY TYPE

6.1 Primary Battery
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Secondary Market
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY PRODUCT

7.1 Lithium-Ion
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Lead Acid
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Nickel Metal Hydride
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Nickel Cadmium
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Others
  7.5.1 Market Trends
  7.5.2 Market Forecast

8 MARKET BREAKUP BY APPLICATION

8.1 Automotive Batteries
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Industrial Batteries
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Portable Batteries
  8.3.1 Market Trends
  8.3.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1 North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2 Asia-Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3 Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4 Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5 Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 PRICE ANALYSIS

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 A123 Systems LLC
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
    14.3.1.3 SWOT Analysis
  14.3.2 BYD Motors Inc.
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
  14.3.3 Contemporary Amperex Technology Co. Ltd.
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
  14.3.4 Envision AESC Group Ltd.
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
  14.3.5 GS Yuasa International Ltd.
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
    14.3.5.3 Financials
    14.3.5.4 SWOT Analysis
  14.3.6 Johnson Controls
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
    14.3.6.3 Financials
    14.3.6.4 SWOT Analysis
  14.3.7 Panasonic Holdings Corporation
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
    14.3.7.3 Financials
    14.3.7.4 SWOT Analysis
  14.3.8 Robert Bosch GmbH
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
    14.3.8.3 SWOT Analysis
  14.3.9 Saft (Total Energies SE)
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio
  14.3.10 Samsung SDI Co. Ltd.
    14.3.10.1 Company Overview
    14.3.10.2 Product Portfolio
    14.3.10.3 Financials
    14.3.10.4 SWOT Analysis
  14.3.11 Tesla Inc.
    14.3.11.1 Company Overview
    14.3.11.2 Product Portfolio
    14.3.11.3 Financials
    14.3.11.4 SWOT Analysis
  14.3.12 Toshiba Corporation
    14.3.12.1 Company Overview
    14.3.12.2 Product Portfolio
    14.3.12.3 Financials
    14.3.12.4 SWOT Analysis

LIST OF TABLES

Table 1: Global: Battery Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Battery Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Battery Market Forecast: Breakup by Product (in Million US$), 2023-2028
Table 4: Global: Battery Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Battery Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Battery Market: Competitive Structure
Table 7: Global: Battery Market: Key Players

LIST OF FIGURES

Figure 1: Global: Battery Market: Major Drivers and Challenges
Figure 2: Global: Battery Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Battery Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Battery Market: Breakup by Type (in %), 2022
Figure 5: Global: Battery Market: Breakup by Product (in %), 2022
Figure 6: Global: Battery Market: Breakup by Application (in %), 2022
Figure 7: Global: Battery Market: Breakup by Region (in %), 2022
Figure 8: Global: Battery (Primary Battery) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Battery (Primary Battery) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Battery (Secondary Market) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Battery (Secondary Market) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Battery (Lithium-Ion) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Battery (Lithium-Ion) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Battery (Lead Acid) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Battery (Lead Acid) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Battery (Nickel Metal Hydride) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Battery (Nickel Metal Hydride) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Battery (Nickel Cadmium) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Battery (Nickel Cadmium) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Battery (Other Products) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Battery (Other Products) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Battery (Automotive Batteries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Battery (Automotive Batteries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Battery (Industrial Batteries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Battery (Industrial Batteries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Battery (Portable Batteries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Battery (Portable Batteries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: North America: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: North America: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: United States: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: United States: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Canada: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Canada: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Asia-Pacific: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Asia-Pacific: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: China: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: China: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Japan: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Japan: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: India: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: India: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: South Korea: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: South Korea: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Australia: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Australia: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Indonesia: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Indonesia: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Others: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Others: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Europe: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Europe: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Germany: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Germany: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: France: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: France: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: United Kingdom: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: United Kingdom: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Italy: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Italy: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Spain: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Spain: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Russia: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Russia: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Others: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Others: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Latin America: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Latin America: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Brazil: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Brazil: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Mexico: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Mexico: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Others: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Others: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Middle East and Africa: Battery Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Middle East and Africa: Battery Market: Breakup by Country (in %), 2022
Figure 76: Middle East and Africa: Battery Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Global: Battery Industry: SWOT Analysis
Figure 78: Global: Battery Industry: Value Chain Analysis
Figure 79: Global: Battery Industry: Porter's Five Forces Analysis


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