Market Overview

The Global Battery Market was valued at USD 121,958.7 million in 2023 and is expected to reach USD 394,349.5 million by 2031 while growing at a CAGR of 15.8% during the forecast period (2024-2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global battery market growth. A battery stores and releases electrical energy through a chemical reaction in one or more electrochemical cells. Each cell contains positive and negative electrodes (cathode and anode) and an electrolyte. When connected to an external circuit, a chemical reaction occurs, resulting in the flow of electrons and the generation of electrical energy.

Increasing demand for renewable energy storage and the growth of electric vehicles (EVs) drive the battery market's growth. However, obstacles such as raw material supply, cost, and technological limitations may hinder market expansion.

Furthermore, the global battery industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Type Analysis

The Global Battery Market is segmented among Primary Batteries, and Secondary Batteries, based on Type. In 2023, Secondary Batteries accounted for the majority of the market share*.

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Technology Analysis

The Global Battery Market is segmented among Lead-acid Batteries, Lithium-ion Batteries, Nickel-metal Hydride (NiMH) Batteries, Nickel-cadmium (NiCD) Batteries, Nickel-zinc (NiZn) Batteries, Flow Batteries, Sodium-sulfur (NAS) Batteries, Zinc-manganese Dioxide Batteries, Small Sealed Lead-acid Batteries, and Other Technologies, based on Technology. In 2023, Lithium-ion Batteries accounted for the majority of the market share*.

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Battery Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are BYD Co. Ltd, Contemporary Amperex Technology Co. Limited, Duracell Inc., EnerSys, GS Yuasa Corporation, Clarios (Formerly Johnson Controls International PLC), LG Chem Ltd, Panasonic Corporation, VARTA AG, Samsung SDI Co. Ltd, Tesla Inc., and TianJin Lishen Battery Joint-Stock Co. Ltd. 

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Battery Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Battery Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Battery Market Segmentation, By Type  

• Global Battery Market Share Analysis, By Type  

• Global Battery Market Growth Analysis, By Type  

• Global Battery Market Trends, By Type  

o Primary Batteries

o Secondary Batteries

6. Global Battery Market Segmentation, By Technology

• Global Battery Market Share Analysis, By Technology

• Global Battery Market Growth Analysis, By Technology

• Global Battery Market Trends, By Technology

o Lead-acid Batteries

o Lithium-ion Batteries

o Nickel-metal Hydride (NiMH) Batteries

o Nickel-cadmium (NiCD) Batteries

o Nickel-zinc (NiZn) Batteries

o Flow Batteries

o Sodium-sulfur (NAS) Batteries

o Zinc-manganese Dioxide Batteries

o Small Sealed Lead-acid Batteries

o Other Technologies

7.  Global Battery Market Segmentation, By Application 

• Global Battery Market Share Analysis, By Application 

• Global Battery Market Growth Analysis, By Application 

• Global Battery Market Trends, By Application

o Automotive Batteries (HEV, PHEV, and EV)

o Industrial Batteries

o Portable Batteries (Consumer Electronics, etc.)

o Power Tool Batteries

o SLI Batteries

o Other Applications

8. Global Battery Market Segmentation, By Region

• Global Battery Market Share Analysis, By Region

• Global Battery Market Growth Analysis, By Region

• Global Battery Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

9. Competitive Landscape

• BYD Co. Ltd*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Contemporary Amperex Technology Co. Limited

• Duracell Inc.

• EnerSys

• GS Yuasa Corporation

• Clarios (Formerly Johnson Controls International PLC)

• LG Chem Ltd

• Panasonic Corporation

• VARTA AG, Samsung SDI Co. Ltd

• Tesla Inc.

• TianJin Lishen Battery Joint-Stock Co. Ltd

 *Similar analysis will be provided for each company listed above.