The global battery market is anticipated to grow significantly at a CAGR of 10.5% during the forecast period. Strong demand for consumer appliances, rising transportation needs, and fuel savings are all contributing to the growth of the market. Original Equipment Manufacturers (OEMs) are offering government incentives for cleaner transportation as well as new hybrid and electric automotive models. For instance, the Clean Transportation Program (also known as the Alternative and Renewable Fuel and Vehicle Technology Program) invests up to $100 million in a diverse portfolio of transportation and fuel transportation initiatives around California each year. The Energy Commission combines public and commercial funds to encourage the use of alternative and renewable fuels in transportation.
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Electricity is less expensive and cleaner than traditional fuels, which helps to reduce CO2 emissions, which contribute to global warming. Technological improvements in alternative fuel vehicles, such as electric vehicles, are expected to create a lucrative opportunity for market players. Stringent pollution standards imposed by governments in industrialized countries such as the US and the UK, along with a growing focus on fuel efficiency, are projected to drive market demand. For instance, in the US the pollution control law such as Clean Air Act (CAA), Clean Water Act (CWA), and the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), among other, are managed by the United States Environmental Protection Agency. However, factors, like a mismatch in demand and supply of raw materials for battery manufacturing, are likely to hinder the market growth during the forecast period.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Battery Market by Category
- Primary
- Secondary
Global Battery Market by Type
- Lithium-Ion (Li-Ion)
- Nickel-Metal Hydride (NI-MH)
- Nickel Cadmium
- Lead Acid
- Others
Global Battery Market by Application
- Automotive
- Industrial
- Household
- Telecommunication
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- A123 Systems, LLC
- Akzo Nobel N.V.
- Ambri Inc.
- American Elements
- Ashland Global Holdings Inc.
- b2i Technologies, Inc. (Altair Nano)
- BASF SE
- BroadBit Batteries Oy
- BYD Company Ltd.
- Contemporary Amperex Technology Co., Ltd. (CATL)
- Energus Power Solutions, Ltd.
- Envision AESC Group Ltd. (Envision Energy USA Ltd.)
- Exide Technologies
- Faradion Ltd.
- General Electric Co.
- GS Yuasa Corp.
- Hitachi Chemical Co., Ltd.
- Johnson Controls Inc.
- LG Chem Ltd.
- MaxPower Inc.
- Mitsui & Co. Ltd.
- NEI Corp.
- NGK Insulators Ltd.
- OXIS Energy Ltd (OXIS)
- Panasonic Corp
- ProLogium Technology Co., Ltd.
- Robert Bosch GmbH
- Saft Groupe SA
- Samsung Group (Samsung SDI Co., Ltd.)
- Siemens AG
- Solvay SA
- Tesla, Inc.
- The AES Corp.
- Toshiba Corp.
- TRU Group Inc. (Boston-power, Inc.)
- Umicore Group
- Valence Semiconductor Design Ltd.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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