Report Code : CVMI24071682 | Published Date : March 12, 2025
The battery market is experiencing unprecedented growth, fueled by rising demand for electric vehicles (EVs), advancements in energy storage solutions, and the increasing adoption of renewable energy. Valued at USD XX billion in 2019, the market reached USD XX billion in 2023. It is projected to grow at a CAGR of XX% from 2024 to 2031, reaching USD XX billion by 2031.
Battery Market Key Market Insights
The market encompasses lithium-ion, lead-acid, solid-state, and emerging sodium-ion and graphene batteries. Innovations in battery chemistry, fast-charging technology, and sustainable recycling solutions are transforming the sector.
Battery Market Growth Drivers
- Rapid Growth of the EV Market and Energy Storage Integration – The adoption of electric vehicles (EVs) and the demand for grid-scale battery storage are accelerating in the market expansion.
- Advancements in Next-Gen Battery Chemistry and Energy Density – The development of solid-state, lithium-sulfur, and sodium-ion batteries is advancing performance.
- Government Policies Supporting Clean Energy and Battery Innovation – Subsidies for electric vehicle batteries, solar-plus-storage systems, and funding for battery research are driving progress demand.
- Growing Demand for Consumer Electronics and Industrial Power Backup Solutions – The high reliance on durable, lightweight, and fast-charging batteries is driving investments.
Battery Market Regional Trends
- North America excels due to robust EV sales, increased renewable energy adoption, and government funding for batteries R&D.
- Europe is advancing with EU policies on battery recycling, sustainable battery production, and gigafactories investments.
- The Asia-Pacific region is dominated by China, South Korea, and Japan, which are at the forefront of lithium-ion battery production manufacturing.
- Latin America and the MEA region are emerging markets benefiting from the deployment of batteries in off-grid solar projects and industrial applications.
ClearView Market Insights Analysis;
The battery market is poised for continuous growth, fueled by the rise of electric vehicles, increasing demand for clean energy storage, and advancements in battery chemistry. Companies that invest in fast-charging solutions, AI-driven battery management, and sustainable battery recycling will lead this evolving sector.
Reasons To Buy

Scope

Key Players
- Contemporary Amperex Technology Co. Limited (CATL)
- LG Chem
- Panasonic Corporation
- BYD Company Limited
- Samsung SDI
- SK Innovation Co. Ltd.
- Toshiba Corporation
- A123 Systems LLC
- Saft Groupe S.A.
- Envision AESC Group Ltd.
Global Battery Market Report
- 1. Global Battery Market Research Report
- 1.1 Study Objectives
- 1.2 Global Battery Market - Overview
- 1.3 Reason to Read This Report
- 1.4 Methodology and Forecast Analysis
- 2.1 Global Battery Market Research Report – Detailed Scope and Definitions
- 2.1.1 By Type
- 2.1.2 By Application
- 2.1.3 By End User
- 2.1.4 By Region
- 3.1. Drivers - Macro-Economic Based, Supply Side, and Demand Side Drivers
- 3.2. Restraints – By Type, By Application, By End User, By Country
- 3.3. Opportunities – By Type, By Application, By End User, By Country
- 3.4. Trends – By Type, By Application, By End User, By Country
- 3.5. PEST Analysis
- 3.6. Porters Five Rule Analysis
- 3.7. Company’s Share Analysis (CSA) by Region or By Country
- 3.8. Global Battery Market Research Report – DROTs Impact Analysis
- 4.1. Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 4.2. Annual Market Trend Assessment – Year-on-Year (YoY) Growth Analysis (%)
- 4.3. Incremental Market Value/Volume Opportunity between 2019 - 2023 and 2024 - 2031
- 4.4. Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.1 Lithium-Ion
- 5.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.2 Lead-Acid
- 5.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.3 Nickel-Cadmium
- 5.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.4 Nickel-Metal Hydride
- 5.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 5.5 Others
- 5.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 5.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 5.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 5.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.1 Automotive
- 6.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.2 Industrial
- 6.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.3 Consumer Electronics
- 6.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.4 Energy Storage
- 6.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 6.5 Others
- 6.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 6.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 6.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 6.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.1 OEMs
- 7.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 7.2 Aftermarket
- 7.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 7.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 7.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 7.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.1 North America
- 8.1.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.1.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.1.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.1.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.2 Europe
- 8.2.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.2.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.2.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.2.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.3 Asia-Pacific
- 8.3.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.3.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.3.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.3.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.4 Latin America
- 8.4.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.4.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.4.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.4.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.5 Middle East & Africa
- 8.5.1 Market Performance Review & Future Outlook: Assessing 2019 - 2023 and Predicting 2024 - 2031 Trends (USD Millions)
- 8.5.2 Annual Market Trend Assessment – Yearly Growth Observation (Y-O-Y)(%)
- 8.5.3 Incremental Market Value/Volume Opportunity between 2019 - 2023 and From 2024 to 2031
- 8.5.4 Market Shares Analysis in Years - 2019, 2023, 2024 and 2031
- 8.6 Global Battery Market - Opportunity Analysis Index, By Type, By Application, By End User, and Region, 2024 - 2031
- 9.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 9.1.1 Lithium-Ion
- 9.1.2 Lead-Acid
- 9.1.3 Nickel-Cadmium
- 9.1.4 Nickel-Metal Hydride
- 9.1.5 Others
- 9.2.1 Automotive
- 9.2.2 Industrial
- 9.2.3 Consumer Electronics
- 9.2.4 Energy Storage
- 9.2.5 Others
- 9.3.1 OEMs
- 9.3.2 Aftermarket
- 9.4.1 United States
- 9.4.2 Canada
9.6 Regional Trends Analysis
9.7 North America Global Battery Market Research Report - Company Profiles- 9.7.1 Company 1 (United States)
- 9.7.2 Company 2 (Canada)
- 9.7.3 Company 3 (Canada)
- 10.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 10.1.1 Lithium-Ion
- 10.1.2 Lead-Acid
- 10.1.3 Nickel-Cadmium
- 10.1.4 Nickel-Metal Hydride
- 10.1.5 Others
- 10.2.1 Automotive
- 10.2.2 Industrial
- 10.2.3 Consumer Electronics
- 10.2.4 Energy Storage
- 10.2.5 Others
- 10.3.1 OEMs
- 10.3.2 Aftermarket
- 10.4.1 Germany
- 10.4.2 United Kingdom
- 10.4.3 France
- 10.4.4 Spain
- 10.4.5 Italy
- 10.4.6 Russia
- 10.4.7 Netherlands
- 10.4.8 Poland
- 10.4.9 Rest of Europe
10.6 Regional Trends Analysis
10.7 Europe Global Battery Market Research Report - Company Profiles- 10.7.1 Company 1 (Germany)
- 10.7.2 Company 2 (United Kingdom)
- 10.7.3 Company 3 (United Kingdom)
- 11.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 11.1.1 Lithium-Ion
- 11.1.2 Lead-Acid
- 11.1.3 Nickel-Cadmium
- 11.1.4 Nickel-Metal Hydride
- 11.1.5 Others
- 11.2.1 Automotive
- 11.2.2 Industrial
- 11.2.3 Consumer Electronics
- 11.2.4 Energy Storage
- 11.2.5 Others
- 11.3.1 OEMs
- 11.3.2 Aftermarket
- 11.4.1 China
- 11.4.2 Japan
- 11.4.3 India
- 11.4.4 South Korea
- 11.4.5 Australia & NZ
- 11.4.6 ASEAN
- 11.4.7 Rest of Asia-Pacific
11.6 Regional Trends Analysis
11.7 Asia-Pacific Global Battery Market Research Report - Company Profiles- 11.7.1 Company 1 (China)
- 11.7.2 Company 2 (Japan)
- 11.7.3 Company 3 (Japan)
- 12.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 12.1.1 Lithium-Ion
- 12.1.2 Lead-Acid
- 12.1.3 Nickel-Cadmium
- 12.1.4 Nickel-Metal Hydride
- 12.1.5 Others
- 12.2.1 Automotive
- 12.2.2 Industrial
- 12.2.3 Consumer Electronics
- 12.2.4 Energy Storage
- 12.2.5 Others
- 12.3.1 OEMs
- 12.3.2 Aftermarket
- 12.4.1 Brazil
- 12.4.2 Mexico
- 12.4.3 Argentina
- 12.4.4 Peru
- 12.4.5 Colombia
- 12.4.6 Rest of Latin America
12.6 Regional Trends Analysis
12.7 Latin America Global Battery Market Research Report - Company Profiles- 12.7.1 Company 1 (Brazil)
- 12.7.2 Company 2 (Mexico)
- 12.7.3 Company 3 (Mexico)
- 13.1 By Type Analysis 2019 - 2023 and Forecast, 2024 - 2031 by Market Assessment (USD Mn), Yearly Growth Rate (%), and Market Presence (%)
- 13.1.1 Lithium-Ion
- 13.1.2 Lead-Acid
- 13.1.3 Nickel-Cadmium
- 13.1.4 Nickel-Metal Hydride
- 13.1.5 Others
- 13.2.1 Automotive
- 13.2.2 Industrial
- 13.2.3 Consumer Electronics
- 13.2.4 Energy Storage
- 13.2.5 Others
- 13.3.1 OEMs
- 13.3.2 Aftermarket
- 13.4.1 Saudi Arabia
- 13.4.2 UAE
- 13.4.3 South Africa
- 13.4.4 Egypt
- 13.4.5 Israel
- 13.4.6 Rest of Middle East and Africa
13.6 Regional Trends Analysis
13.7 Middle East & Africa Global Battery Market Research Report - Company Profiles- 13.7.1 Company 1 (Saudi Arabia)
- 13.7.2 Company 2 (UAE)
- 13.7.3 Company 3 (UAE)
- 14.1 Strategic Dashboard of Top Market Players
14.2 Company Profiles (Introduction, Financial Assessments, Portfolio of Offerings, Milestones and Achievements, Strategic Initiative, and SWOT Analysis)- 14.2.1 Contemporary Amperex Technology Co. Limited (CATL)
- 14.2.2 LG Chem
- 14.2.3 Panasonic Corporation
- 14.2.4 BYD Company Limited
- 14.2.5 Samsung SDI
- 14.2.6 SK Innovation Co. Ltd.
- 14.2.7 Toshiba Corporation
- 14.2.8 A123 Systems LLC
- 14.2.9 Saft Groupe S.A.
- 14.2.10 Envision AESC Group Ltd.
16. Principal Presumptions and Acronyms