Global Battery Market

Battery Market Size, Share, Growth Analysis, By Battery Type (Lead-acid Battery, Flow Battery), By Application (Automotive Batteries, Power Tool Batteries), By End-user (Aerospace Industries, Automotive Industries), By Region -Industry Forecast 2024-2031)

Report ID: SQMIG20D2263 | Region: Global | Published Date: November, 2024
Pages: 179 | Tables: 102 | Figures: 71

Battery Market Competitive Landscape

The competitive landscape of the global battery market is characterized by intense rivalry among key players striving for innovation and global battery market share. Many businesses such as Tesla, Panasonic, LG Energy Solution, Samsung SDI, CATL, etc. are at the forefront of developing battery technology and expanding production. Such companies are focused on R&D to increase energy density, sustainability and efficiency. Furthermore, the competition and growth of this sector is further enhanced by the emergence of new players and partnerships.

Top Player’s Company Profiles

  • Tesla, Inc. (USA)
  • Panasonic Corporation (Japan)
  • LG Energy Solution (South Korea)
  • Samsung SDI (South Korea)
  • Contemporary Amperex Technology Co., Limited (CATL) (China)
  • BYD Company Limited (China)
  • A123 Systems LLC (USA)
  • Saft Groupe S.A. (France)
  • Northvolt AB (Sweden)
  • SK Innovation Co., Ltd. (South Korea)
  • Hitachi Chemical Co., Ltd. (Japan)
  • GS Yuasa Corporation (Japan)
  • Exide Technologies (USA)
  • BASF SE (Germany)
  • Amperex Technology Limited (ATL) (China)

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FAQs

Global Battery Market size was valued at USD 120.79 Billion in 2022 poised to grow from USD 139.88 Billion in 2023 to USD 390.57 Billion by 2031, growing at a CAGR of 15.8 % in the forecast period (2024-2031).

The competitive landscape of the global battery market is characterized by intense rivalry among key players striving for innovation and global battery market share. Many businesses such as Tesla, Panasonic, LG Energy Solution, Samsung SDI, CATL, etc. are at the forefront of developing battery technology and expanding production. Such companies are focused on R&D to increase energy density, sustainability and efficiency. Furthermore, the competition and growth of this sector is further enhanced by the emergence of new players and partnerships. 'Tesla, Inc. (USA)', 'Panasonic Corporation (Japan)', 'LG Energy Solution (South Korea)', 'Samsung SDI (South Korea)', 'Contemporary Amperex Technology Co., Limited (CATL) (China)', 'BYD Company Limited (China)', 'A123 Systems LLC (USA)', 'Saft Groupe S.A. (France)', 'Northvolt AB (Sweden)', 'SK Innovation Co., Ltd. (South Korea)', 'Hitachi Chemical Co., Ltd. (Japan)', 'GS Yuasa Corporation (Japan)', 'Exide Technologies (USA)', 'BASF SE (Germany)', 'Amperex Technology Limited (ATL) (China)'

The growing popularity of electric vehicles is one of the major reasons behind the rapid enhancement of the global battery market trends. As governments enforce strict rules covering emissions and individuals choose a greener way of transportation, car manufacturers have started engaging themselves heavily in the production of electric cars. This increase in the desire for effective and high-capacity batteries leads to the growth and development of the market.

Surge in Demand for Sustainable Energy Solutions: The global battery market is experiencing a profound metamorphosis toward cleaner energy solutions owing to the increasing penetration of renewable energies as well as electric automobiles. In this scenario burdening of the environment with nonutilized battery waste underlined the necessity for greener battery technologies like solid-state and sodium-ion batteries which also allow better performance.

The global battery market is primarily led by the Asia-Pacific region owing to a strong manufacturing base, technology coupled with an eagerness to use electric vehicles and consumer electronics. Nations such as China, Japan, and South Korea are at the forefront of battery production with active involvement in lithium-based and solid-state technology. The region’s focus on renewable energy and green technologies is another factor that is positively impacting the upsurge in the energy storage systems market needle as more batteries will be required. Besides that, progressive legislation and policies favoring electric mobility and utilitarian energy sources in the region enhance its overall growth. Therefore, the Asia Pacific region is aggrandized to sustain its status in the ongoing transformation in the battery market worldwide.

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Global Battery Market

Report ID: SQMIG20D2263

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