Product Code: SR1523A191_Report
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?
Table of Contents
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