Global Battery Market by Types [Primary Battery and Secondary Battery], Technologies [Lithium-ion Battery, Lead-acid Battery, Nickel-cadmium (NiCD) Battery, Nickel-metal Hydrid (NiMH) Battery, Nickel-zinc (NiZn) Battery, Flow Battery, Sodium-sulfur (NAS) Battery, Zinc-manganese Dioxide Battery, Small Sealed Lead-acid Battery, and Others (Dual Carbon, Zinc-carbon Battery, and Silver-oxide Battery)], Applications [Power Tools Batteries, SLI Batteries, Portable Batteries (Consumer Electronic, Industrial Batteries (Motive, Stationary, Telecom, UPS, Energy Storage System (ESS)) , Automotive Batteries (HEV, PHEV, and EV)), and Others], and Regions (Europe, Asia Pacific, North America, Middle East & Africa, and South America) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global battery market is estimated to register a significant CAGR during the forecast period, 2021-2028. The growth of market is attributed to rapid adoption of electric vehicles across several developed and developing economies of the world.
European countries such as Germany witnessed high growth in EV sales, the primary factors responsible for such event are the massive price reduction in lithium-ion battery which are majorly in the manufacturing process of electric vehicles.
Another reason for the rising demand is growing popularity of consumer electronics resulting in the extensive usage of lithium-ion batteries as a product type during the projected period. Increasing demand for portable products such as smart phone, LCD, wearable devices, and fitness bands are expected to boost the market during the forecast period.
Although several factors act as an obstacle which includes stringent emission rules by the governing authorities of several developed nations such as United States and United Kingdom, however with the fuel prices keeps on spiking up grabs attention towards fuel efficiency, which is estimated as one of the driving factor for the market.
With the COVID-19 pandemic industries all around the world observed a major downfall, battery industry witness a negative impact on the production and sales due to supply chain concentrated in China. The sale of lithium-ion battery faced a downward fall in the sales of electric vehicles, also the dynamic fluctuation of supply and demand of raw material for battery production are most likely to act as restraining factor the market growth.
Market Trends, Drivers, Restraints, and Opportunities
- Growing demand for electric vehicles worldwide is estimated to drive the market in the coming years.
- Increasing demand for consumer electronics such as tablets, smart-phone, and wearable is estimated to spike the market during the forecast period.
- Rising awareness towards fuel efficiency is anticipated to boost the market during the projected period,
- R&D and technological advancement in term of product innovation, cost, and enhanced efficiency is estimated to spur the market during the projected period.
- Strict emission related polices framed by the government authorities of some developed nations act as a factor that can hinder the market in the coming years.
- Mismatch demand and supply of raw material for battery production possess a challenge that can hamper the market expansion during the forecast period.
Scope of the market
The report on global battery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Battery Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Types [Primary Battery and Secondary Battery], Technologies [Lithium-ion Battery, Lead-acid Battery, Nickel-cadmium (NiCD) Battery, Nickel-metal Hydrid (NiMH) Battery, Nickel-zinc (NiZn) Battery, Flow Battery, Sodium-sulfur (NAS) Battery, Zinc-manganese Dioxide Battery, Small Sealed Lead-acid Battery, and Others (Dual Carbon, Zinc-carbon Battery, and Silver-oxide Battery)], Applications [Power Tools Batteries, SLI Batteries, Portable Batteries (Consumer Electronic, Industrial Batteries (Motive, Stationary, Telecom, UPS, Energy Storage System (ESS)) , Automotive Batteries (HEV, PHEV, and EV)), and Others] |
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Regional Scope |
Europe, Asia Pacific, North America, Middle East and Africa, Latin America. |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Duracell Inc; BYD Co. Ltd; Exide Industries Ltd; Tesla Inc.; Contemporary Amperex Technology Co. Limited |
Market Segment Insights
The secondary battery segment is estimated to account for a key share of the market
Based on the types, the market is bifurcated into primary battery and secondary battery. The secondary battery segment is estimated to account for a key share of the market in the coming years owing to high discharge rate performance at heavy loads, ideally suited for load-leveling, high cost military applications, and emergency backup. However, the primary battery segment is estimated to grow at a rapid pace due to size differentiation typically lighter and smaller and more suited for portable applications, easy replacement available owing to produced in bulk, and low initial cost.
The lead-acid battery segment is expected to exhibit high CAGR
On the basis of technologies, the market is fragmented into lithium-ion battery, lead-acid battery, nickel-cadmium (NICD) battery, nickel-metal hydrid (NIMH) battery, nickel-zinc (NIZN) battery, flow battery, sodium-sulfur (NAS) battery, zinc-manganese dioxide battery, small sealed lead-acid battery, and other technologies (dual carbon, zinc-carbon battery, silver-oxide battery)). The lead-acid battery segment is expected to exhibit high CAGR during the forecast period due to application in several industries such as telecommunication, oil & gas, healthcare, uninterrupted power supply (UPS) and more, and are used in critical applications which involves affordable pricing and maximum reliability.
The automotive batteries segment is anticipated to account for a key share of the market
Based on the applications, the market is categorized into power tools batteries, SLI batteries, portable batteries (consumer electronic, etc, industrial batteries (motive, stationary, telecom, ups, energy storage system (ESS)), automotive batteries (HEV, PHEV, and EV)), and others. The automotive batteries segment is anticipated to account for a key share of the market during the projected period owing to falling battery prices and enhancement in the technology, favorable government policies is an essential part for the market growth reducing risk of investors, encouraging vendors on a large scale.
Asia Pacific is anticipated to dominate the market
In the term of regions, the market is segregated into Europe, Asia Pacific, North America, Middle East & Africa, and Latin America. Asia Pacific is anticipated to dominate the market owing to supportive government authorities and ease restriction, thus encouraging manufacturers. Furthermore China and India is the hot zone for major investment for battery companies, rapid installation of renewable power plants and rapid deployment of electric vehicles creating the regions dominance.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Battery Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Battery Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Battery Market - Supply Chain
4.5. Global Battery Market Forecast
4.5.1. Battery Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Battery Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Battery Market Absolute $ Opportunity
5. Global Battery Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Battery Market Size and Volume Forecast by Types
5.3.1. Primary Battery Secondary Battery
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Battery Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Battery Market Size and Volume Forecast by Applications
6.3.1. Power Tools Batteries SLI Batteries Portable Batteries (Consumer Electronic, etc, Industrial Batteries (Motive, Stationary, Telecom, UPS, Energy Storage System (ESS)) Automotive Batteries (HEV, PHEV, and EV) Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Battery Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Battery Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Battery Demand Share Forecast, 2019-2026
8. North America Battery Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Battery Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Battery Market Size and Volume Forecast by Types
8.4.1. Primary Battery Secondary Battery
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Battery Market Size and Volume Forecast by Applications
8.7.1. Power Tools Batteries SLI Batteries Portable Batteries (Consumer Electronic, etc, Industrial Batteries (Motive, Stationary, Telecom, UPS, Energy Storage System (ESS)) Automotive Batteries (HEV, PHEV, and EV) Others
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Battery Demand Share Forecast, 2019-2026
9. Latin America Battery Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Battery Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Battery Market Size and Volume Forecast by Types
9.4.1. Primary Battery Secondary Battery
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Battery Market Size and Volume Forecast by Applications
9.7.1. Power Tools Batteries SLI Batteries Portable Batteries (Consumer Electronic, etc, Industrial Batteries (Motive, Stationary, Telecom, UPS, Energy Storage System (ESS)) Automotive Batteries (HEV, PHEV, and EV) Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Battery Demand Share Forecast, 2019-2026
10. Europe Battery Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Battery Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Battery Market Size and Volume Forecast by Types
10.4.1. Primary Battery Secondary Battery
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Battery Market Size and Volume Forecast by Applications
10.7.1. Power Tools Batteries SLI Batteries Portable Batteries (Consumer Electronic, etc, Industrial Batteries (Motive, Stationary, Telecom, UPS, Energy Storage System (ESS)) Automotive Batteries (HEV, PHEV, and EV) Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Battery Demand Share Forecast, 2019-2026
11. Asia Pacific Battery Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Battery Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Battery Market Size and Volume Forecast by Types
11.4.1. Primary Battery Secondary Battery
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Battery Market Size and Volume Forecast by Applications
11.7.1. Power Tools Batteries SLI Batteries Portable Batteries (Consumer Electronic, etc, Industrial Batteries (Motive, Stationary, Telecom, UPS, Energy Storage System (ESS)) Automotive Batteries (HEV, PHEV, and EV) Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Battery Demand Share Forecast, 2019-2026
12. Middle East & Africa Battery Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Battery Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Battery Market Size and Volume Forecast by Types
12.4.1. Primary Battery Secondary Battery
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Battery Market Size and Volume Forecast by Applications
12.7.1. Power Tools Batteries SLI Batteries Portable Batteries (Consumer Electronic, etc, Industrial Batteries (Motive, Stationary, Telecom, UPS, Energy Storage System (ESS)) Automotive Batteries (HEV, PHEV, and EV) Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Battery Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Battery Market: Market Share Analysis
13.2. Battery Distributors and Customers
13.3. Battery Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Duracell Inc BYD Co. Ltd Exide Industries Ltd Tesla Inc Contemporary Amperex Technology Co. Limited