Market Overview

The Global Secondary Battery Market was valued at USD 106,782.5 million in 2023 and is expected to reach USD 225,589.4 million by 2031 while growing at a CAGR of 9.8% 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 secondary battery market growth. A secondary battery, or rechargeable battery, is an energy storage device that can be charged and discharged multiple times, unlike non-rechargeable primary batteries. This makes secondary batteries a sustainable and cost-effective long-term solution.

Increasing demand for portable electronic devices and renewable energy storage is driving the growth of the secondary battery market. However, obstacles like resource scarcity, raw material costs, and safety concerns may hinder market expansion.

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

Segmentation – By Technology Analysis

The Global Secondary Battery Market is segmented among Lead-acid Battery, Lithium-ion Battery, and Other Technologies, based on Technology. In 2023, Lithium-ion Battery 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 Application Analysis

The Global Secondary Battery Market is segmented among Automotive Batteries, Industrial Batteries, Portable Batteries, and Other Applications, based on Application. In 2023, Automotive 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 Secondary 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, LG Chem Ltd, Panasonic Corporation, Saft Groupe SA, and Samsung SDI Co. Ltd.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Secondary Battery Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Secondary Battery Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Secondary Battery Market Segmentation, By Technology

• Global Secondary Battery Market Share Analysis, By Technology  

• Global Secondary Battery Market Growth Analysis, By Technology  

• Global Secondary Battery Market Trends, By Technology

o Lead-acid Battery

o Lithium-ion Battery

o Other Technologies (NiMh, NiCD, etc)

6. Global Secondary Battery Market Segmentation, By Application

• Global Secondary Battery Market Share Analysis, By Application  

• Global Secondary Battery Market Growth Analysis, By Application

• Global Secondary Battery Market Trends, By Application

o Automotive Batteries (HEV, PHEV, and EV)

o Industrial Batteries

o Portable Batteries (Consumer Electronics, etc.)

o Other Applications (Power Tools Batteries, SLI Batteries, etc.)

7. Global Secondary Battery Market Segmentation, By Region

• Global Secondary Battery Market Share Analysis, By Region

• Global Secondary Battery Market Growth Analysis, By Region

• Global Secondary Battery Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

8. 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

• LG Chem Ltd

• Panasonic Corporation

• Saft Groupe SA

• Samsung SDI Co. Ltd

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