Global Battery Strategic Markets Report 2023-2030: China Dominates Li-ion Battery Production, US and Europe Make Efforts to Gain Strong Position
Global Market for Battery
Dublin, May 08, 2023 (GLOBE NEWSWIRE) -- The "Battery: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Battery Market to Reach $275.3 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Battery estimated at US$115 Billion in the year 2022, is projected to reach a revised size of US$275.3 Billion by 2030, growing at a CAGR of 11.5% over the analysis period 2022-2030.
Lead Acid, one of the segments analyzed in the report, is projected to record a 7.1% CAGR and reach US$56.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Lithium Ion segment is readjusted to a revised 17.5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $16.9 Billion, While China is Forecast to Grow at 13.7% CAGR
The Battery market in the U.S. is estimated at US$16.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$56.1 Billion by the year 2030 trailing a CAGR of 13.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.3% and 10.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$38.3 Billion by the year 2030.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Attributes:
Report Attribute | Details |
No. of Pages | 815 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $115 Billion |
Forecasted Market Value (USD) by 2030 | $275.3 Billion |
Compound Annual Growth Rate | 11.5% |
Regions Covered | Global |
MARKET OVERVIEW
Disruption to Supply Chains Impacts Battery Materials Market Prospects
COVID-19 Pandemic Drives Europe to Fortify All Sections of Battery Value Chain
Energy-Storage Materials for Li-Ion Batteries Face COVID-19 Headwinds
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Importance of Batteries in the Modern World
What is a Battery?
Evolution of Battery over the Years: A Snapshot
Market Outlook
Asia-Pacific to Experience Favorable Growth
Regionalization of Supply Chains
Competition in Li-Ion Battery Market
Market Share of Leading Li-ion Battery Manufacturers (in %): 2020
Recent Market Activity
MARKET TRENDS & DRIVERS
Li-ion Battery Registers Strong Growth with Expanding Applications in Consumer Electronics, Electric Vehicles and Energy Storage Sectors
A Comparative Review of Key Properties of Different Li-ion Batteries
Existing and Emerging Applications of Lithium-Ion Batteries
China Dominates Li-ion Battery Production, US and Europe Make Efforts to Gain Strong Position
Leading Li-ion Battery Mega Factories Worldwide: Ranked by Storage Capacity in GWh Per Annum
Robust Outlook for EVs Opens New Avenues of Growth for EV Batteries
Pandemic Impact on EVs and Prospects for Battery Technologies
Electric Micromobility Rises in Prominence Amid Covid-19 Pandemic
Global Automakers Focus on Securing Raw Materials for EVs
Rising Sales of Electric Buses Bolsters Demand for Li-ion Batteries
Shortfall of Raw Materials to Augment Cost of EV Batteries
Major Players Operating in the EV Battery Space
Production of Electric Cars Set to Increase Focus on Recycling
Li-ion Batteries Emerge as the Dominant Technology for Grid-Scale Energy Storage
Comparison of Key Features for NaS Battery, Lithium-ion Battery, and Flow Battery Technologies
Rapid Growth of Renewable Energy Market Drives Opportunities
Increase in Offshore Wind Installations Presents New Opportunities
Lithium-ion Solar Batteries Hold an Edge over Lead Acid Batteries for Residential Solar Customers
Key Trends Driving the Battery Energy Storage Systems Market
Rapid Proliferation of Smart Homes Bodes Well for Battery Uptake
Driven by Focus on Convenience, Comfort and Energy Savings, the Rising Proliferation of Smart Homes Presents Steady Growth Opportunities for Batteries Market
Smart Cities & IoT Push Up the Need for Smart Batteries
New Battery Chemistry and Modularity at the Forefront of Innovations in UPS Systems
Battery Management Gains Precedence
Backup Power Demand Gives Special Thrust to Lead-Acid Batteries amid COVID-19
Graphene Holds the Potential to Enhance Attributes of Li-ion Batteries
Smart UPS Systems Built on Li-Ion Batteries Present Exciting Opportunities for Data Centers to Leverage Stored, Unused Energy
Increasing Adoption of Li-ion Batteries in Data Centers
Complex Infrastructure and Scale of Modern Data Centers Necessitates Energy Storage: Potential for Flow Batteries
Demand for Portable Batteries Set to Rise in Tandem with Expansion of Portable Applications
Opportunities and Challenges of Sustainable Battery Production
Li-ion Batteries Offer Support for Industrial Applications
Increased Preference for Li-ion Batteries by Motorcycle Manufacturers Due to High Resistivity to Drive the Market Growth
Dynamics in the Consumer Batteries Space
Growing Demand for Mobile Computing Devices To Spur Demand
Widespread Use of Li-ion Batteries in Smartphones
Li-ion Batteries Gain Momentum in Wearable Devices
Demand for Smart Batteries Pushes Up the Importance of Battery Fuel Gauge ICs
The Rise of Drones Spurs Demand for Drone Batteries
Advanced Batteries for UAV Drones
Nickel Cadmium Batteries: Declining Demand Deters Market Prospects
Decelerating Demand Deters Nickel Metal Hydride Batteries Segment
Flow Batteries Gain Demand
Smart Grids Elevate the Prospects for Flow Batteries
Pandemic Impact on the Vanadium Redox Battery Market
Vanadium Flow Batteries: Unveiling the Much Needed Energy Storage Breakthrough
Global Next Generation Advanced Batteries to Witness Rapid Growth as Industry Focuses on Sustainability
Lithium Polymer Battery Attracts Growth
Lithium Sulphur Batteries Demand to Accelerate
Lead-Acid Batteries Remain Central to the Automotive Industry
Short Life of Lead Acid Batteries & Growing Vehicle PARC Fuels Opportunities for Aftermarket Batteries
Auto Production Halts Induced by Chip Shortages Hobbles Much Awaited Recovery
Rising Share of Electronics in Automobiles to Augment Demand
Growing Significance of Solid-State Batteries Over Traditional Lithium-ion Battery Systems to Drive the Market Growth
Solid-State Technology Seeks Role in EV Domain
Battery Chemistry Improvements Augment Innovations & Advancements
Researchers Aim to Develop Advanced Li-Ion Batteries for Electric Vehicles
Inadequacies of Electrolyte-based Li-Ion Battery Cells Prompt New R&D Investments
Select Battery Innovations and Developments
Growing Affluence of Middle Class Consumer Segment
Rising Living Standards
FOCUS ON SELECT PLAYERS (Total 262 Featured)
A123 Systems LLC
BYD Company Ltd.
Contemporary Amperex Technology Co. Ltd.
Duracell Inc.
EnerDel, Inc.
Eveready Industries India Ltd.
Exide Technologies, Inc.
GS Yuasa International Ltd.
Hitachi High-Tech Corporation
Johnson Controls International PLC
LG Chem Ltd.
NEC Corporation
Panasonic Corporation
Robert Bosch GmbH
Saft Groupe SA
Samsung SDI Co., Ltd.
Sony Corporation
Tesla, Inc.
Toshiba Corporation
Trojan Battery Company
For more information about this report visit https://www.researchandmarkets.com/r/cva5gt
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