Battery market size is estimated to grow by USD 229.86 billion between 2022 and 2027; Shift in the automotive industry to EVs to be a major trend - Technavio

NEW YORK, Feb. 22, 2023 -- According to Technavio, the global battery market size is estimated to grow by USD 229.86 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 17.22% during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 116.45 billion. APAC will account for 48% of the market growth during the forecast period. For more insights on the historic market data from 2017 to 2021 - Request a sample report

Global Battery Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on application (portable batteries, automotive batteries, and industrial batteries), type (lithium-ion, lead acid, nickel metal hydride, nickel cadmium, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). 

• The market growth in the portable batteries segment will be significant during the forecast period. The segment is driven by the increasing adoption of technologically advanced electronic products. Also, the increasing global demand for smartphones and tablets is contributing to the growth of the segment.

Geography Overview
By geography, the global battery market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global battery market.

• APAC will account for 48% of the market growth during the forecast period. Factors such as the decreasing cost of Li-ion batteries and an increase in the domestic production of batteries in India are driving the growth of the battery market in APAC.
•  For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027   - Download a Sample Report

Global Battery Market – Market Dynamics

Key factor driving market growth

• The market is driven by the shift in the automotive industry to EVs.
• Growing concerns over environmental pollution and adopting a sustainable ecosystem in the automobile industry have increased the adoption of EVs worldwide.
• Governments across the world are setting objectives to ensure the successful deployment of EVs and electrical modes of public transportation.
• The growing adoption of EVs is leading to an increase in the sales volume of batteries.

Leading trends influencing the market 

• Technological developments will be a key trend in the market.
• Continuous R&D efforts by vendors are leading to rapid improvements in performance as well as the use of advanced technologies in batteries.
• Some vendors are introducing batteries to support the latest technologies such as wireless charging in smartphones and smartwatches.
• Vendors are also focusing on improving the energy density of batteries for use in the consumer electronics industry.

Major challenges hindering market growth

• The use of counterfeit batteries is a key challenge in the market.
• Counterfeit products are manufactured without following the safety norms set by regulatory authorities.
• The purchase of counterfeit products increases the risk of exposure to poisonous ingredients, contaminated products, and malfunctioning parts.
• They also hamper the reputation of original battery manufacturers and incur significant losses, thereby reducing the growth potential in the market.
  
  
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What are the key data covered in this battery market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the battery market between 2023 and 2027
• Precise estimation of the size of the battery market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the battery market industry across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of battery market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global battery market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global battery market 2017 - 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Portable batteries - Market size and forecast 2022-2027
• Exhibit 34: Chart on Portable batteries - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Portable batteries - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Portable batteries - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Portable batteries - Year-over-year growth 2022-2027 (%)

• 6.4 Automotive batteries - Market size and forecast 2022-2027
• Exhibit 38: Chart on Automotive batteries - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Automotive batteries - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Automotive batteries - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Automotive batteries - Year-over-year growth 2022-2027 (%)

• 6.5 Industrial batteries - Market size and forecast 2022-2027
• Exhibit 42: Chart on Industrial batteries - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Industrial batteries - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Industrial batteries - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Industrial batteries - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Application 
• Exhibit 46: Market opportunity by Application ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 47: Chart on Type - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 49: Chart on Comparison by Type
• Exhibit 50: Data Table on Comparison by Type

• 7.3 Lithium ion - Market size and forecast 2022-2027
• Exhibit 51: Chart on Lithium ion - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Lithium ion - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Lithium ion - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Lithium ion - Year-over-year growth 2022-2027 (%)

• 7.4 Lead acid - Market size and forecast 2022-2027
• Exhibit 55: Chart on Lead acid - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Lead acid - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Lead acid - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Lead acid - Year-over-year growth 2022-2027 (%)

• 7.5 Nickel metal hydride - Market size and forecast 2022-2027
• Exhibit 59: Chart on Nickel metal hydride - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Nickel metal hydride - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Nickel metal hydride - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Nickel metal hydride - Year-over-year growth 2022-2027 (%)

• 7.6 Nickel cadmium - Market size and forecast 2022-2027
• Exhibit 63: Chart on Nickel cadmium - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Nickel cadmium - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Nickel cadmium - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Nickel cadmium - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027
• Exhibit 67: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Type 
• Exhibit 71: Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 73: Chart on Market share by geography 2022-2027 (%)
• Exhibit 74: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 75: Chart on Geographic comparison
• Exhibit 76: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 85: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 89: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 101: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 109: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 110: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 111: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027
• Exhibit 113: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 114: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 115: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 116: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 117: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 118: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 119: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 120: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 121: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 122: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 123: Matrix on vendor position and classification

• 12.3 A123 Systems LLC 
• Exhibit 124: A123 Systems LLC - Overview
• Exhibit 125: A123 Systems LLC - Product / Service
• Exhibit 126: A123 Systems LLC - Key offerings

• 12.4 Clarios 
• Exhibit 127: Clarios - Overview
• Exhibit 128: Clarios - Product / Service
• Exhibit 129: Clarios - Key news
• Exhibit 130: Clarios - Key offerings

• 12.5 Cummins Inc. 
• Exhibit 131: Cummins Inc. - Overview
• Exhibit 132: Cummins Inc. - Business segments
• Exhibit 133: Cummins Inc. - Key offerings
• Exhibit 134: Cummins Inc. - Segment focus

• 12.6 EnerSys 
• Exhibit 135: EnerSys - Overview
• Exhibit 136: EnerSys - Business segments
• Exhibit 137: EnerSys - Key news
• Exhibit 138: EnerSys - Key offerings
• Exhibit 139: EnerSys - Segment focus

• 12.7 Exide Industries Ltd. 
• Exhibit 140: Exide Industries Ltd. - Overview
• Exhibit 141: Exide Industries Ltd. - Product / Service
• Exhibit 142: Exide Industries Ltd. - Key offerings

• 12.8 Furukawa Electric Co. Ltd. 
• Exhibit 143: Furukawa Electric Co. Ltd. - Overview
• Exhibit 144: Furukawa Electric Co. Ltd. - Business segments
• Exhibit 145: Furukawa Electric Co. Ltd. - Key news
• Exhibit 146: Furukawa Electric Co. Ltd. - Key offerings
• Exhibit 147: Furukawa Electric Co. Ltd. - Segment focus

• 12.9 GS Yuasa Corp. 
• Exhibit 148: GS Yuasa Corp. - Overview
• Exhibit 149: GS Yuasa Corp. - Business segments
• Exhibit 150: GS Yuasa Corp. - Key news
• Exhibit 151: GS Yuasa Corp. - Key offerings
• Exhibit 152: GS Yuasa Corp. - Segment focus

• 12.10 Hitachi Ltd. 
• Exhibit 153: Hitachi Ltd. - Overview
• Exhibit 154: Hitachi Ltd. - Business segments
• Exhibit 155: Hitachi Ltd. - Key news
• Exhibit 156: Hitachi Ltd. - Key offerings
• Exhibit 157: Hitachi Ltd. - Segment focus

• 12.11 LG Chem 
• Exhibit 158: LG Chem - Overview
• Exhibit 159: LG Chem - Business segments
• Exhibit 160: LG Chem - Key news
• Exhibit 161: LG Chem - Key offerings
• Exhibit 162: LG Chem - Segment focus

• 12.12 Murata Manufacturing Co. Ltd. 
• Exhibit 163: Murata Manufacturing Co. Ltd. - Overview
• Exhibit 164: Murata Manufacturing Co. Ltd. - Business segments
• Exhibit 165: Murata Manufacturing Co. Ltd. - Key news
• Exhibit 166: Murata Manufacturing Co. Ltd. - Key offerings
• Exhibit 167: Murata Manufacturing Co. Ltd. - Segment focus

• 12.13 Panasonic Holdings Corp. 
• Exhibit 168: Panasonic Holdings Corp. - Overview
• Exhibit 169: Panasonic Holdings Corp. - Business segments
• Exhibit 170: Panasonic Holdings Corp. - Key news
• Exhibit 171: Panasonic Holdings Corp. - Key offerings
• Exhibit 172: Panasonic Holdings Corp. - Segment focus

• 12.14 Robert Bosch GmbH 
• Exhibit 173: Robert Bosch GmbH - Overview
• Exhibit 174: Robert Bosch GmbH - Business segments
• Exhibit 175: Robert Bosch GmbH - Key news
• Exhibit 176: Robert Bosch GmbH - Key offerings
• Exhibit 177: Robert Bosch GmbH - Segment focus

• 12.15 Samsung Electronics Co. Ltd. 
• Exhibit 178: Samsung Electronics Co. Ltd. - Overview
• Exhibit 179: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 180: Samsung Electronics Co. Ltd. - Key news
• Exhibit 181: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 182: Samsung Electronics Co. Ltd. - Segment focus

• 12.16 TDK Corp. 
• Exhibit 183: TDK Corp. - Overview
• Exhibit 184: TDK Corp. - Business segments
• Exhibit 185: TDK Corp. - Key news
• Exhibit 186: TDK Corp. - Key offerings
• Exhibit 187: TDK Corp. - Segment focus

• 12.17 Toshiba Corp. 
• Exhibit 188: Toshiba Corp. - Overview
• Exhibit 189: Toshiba Corp. - Business segments
• Exhibit 190: Toshiba Corp. - Key offerings
• Exhibit 191: Toshiba Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 192: Inclusions checklist
• Exhibit 193: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 194: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 195: Research methodology
• Exhibit 196: Validation techniques employed for market sizing
• Exhibit 197: Information sources

• 13.5 List of abbreviations 
• Exhibit 198: List of abbreviations

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