Press release
Batteries Market Poised to Hit $196.97 Billion by 2029 with Accelerating Growth Trends
Batteries Market Size
Batteries Market Size Growth Forecast: What to Expect by 2025?
In the recent past, there has been a significant expansion in the batteries market. The market size is projected to rise from $127.46 billion in 2024 to $139.72 billion in 2025, experiencing a compound annual growth rate (CAGR) of 9.6%. Factors such as portable electronics, electric vehicles (evs), integration of renewable energy, consumer electronics, and energy storage systems have contributed to this historic growth.
How Will the Batteries Market Size Evolve and Grow by 2029?
In the coming years, a significant surge is slated for the batteries market, taking it up to $196.97 billion by 2029. This corresponds to a compound annual growth rate (CAGR) of 9.0%. Factors contributing to this projected growth during the forecast period include the energy transition, miniaturization and IoT, research and development, and electric grid upgrades. During this same period, the market is expected to be influenced by trends such as electrification and lightweighting, use of advanced materials, additive manufacturing, digitalization and connectivity, and collaboration and partnerships.
View the full report here:
https://www.thebusinessresearchcompany.com/report/batteries-global-market-report
What Drivers Are Propelling the Growth of Batteries Market Forward?
The battery market's expansion is projected to be driven by the rising demand for electric vehicles. Electric vehicles (EVs) primarily rely on electricity for propulsion. The batteries in these vehicles store and supply the electrical energy required to operate the vehicle's motors, eliminating the requirement for fossil fuels and providing a greener alternative to conventional petroleum-fueled vehicles. In January 2024, a report from the US-based professional non-profit, the International Council on Clean Transportation, stated that the percentage of new vehicle sales of plug-in electric vehicles jumped from roughly 3% in Q1 2021 to about 7% in 2022, and then exceeded 10% by Q3 2023. Consequently, the burgeoning demand for electric vehicles is spurring the growth of the battery market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2123&type=smp
Which Emerging Trends Are Transforming the Batteries Market in 2025?
Leading firms in the battery industry are directing their efforts towards the introduction of novel products like EV (Electric Vehicle) batteries to ensure the delivery of trustworthy services to their clientele. An EV battery, essentially a rechargeable energy storage system, is employed for powering the electric motor(s) in electric vehicles. For instance, Volkswagen, a German manufacturer of electric vehicle batteries, unveiled a pioneering EV battery known as Astroinno with a 1000 km range in May 2023. This recently launched battery potentially outstrips the energy density of conventional lithium-iron-phosphate (LFP) batteries and is likely more cost-effective than those heavily dependent on nickel and cobalt. This innovative battery enables electric vehicles equipped with a 140 kWh battery pack to have a driving range exceeding 1,000 km.
What Are the Key Segments in the Batteries Market?
The batteries market covered in this report is segmented -
1) By Type: Secondary Batteries, Primary Batteries
2) By Mode: Online, Offline
3) By Sales Channel: OEM, After market
4) By Application: Automotive Batteries, Industrial Batteries, Portable Batteries, Power Tools Batteries, SLI Batteries, Other Applications
Subsegments:
1) By Secondary Batteries: Lithium-Ion Batteries, Lead-Acid Batteries, Nickel-Cadmium Batteries, Nickel-Metal Hydride Batteries, Sodium-Ion Batteries
2) By Primary Batteries: Alkaline Batteries, Zinc-Carbon Batteries, Lithium Batteries, Silver Oxide Batteries, Zinc-Air Batteries
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=2123&type=smp
Who Are the Key Players Shaping the Batteries Market's Competitive Landscape?
Major companies operating in the batteries market include Samsung SDI Co. Ltd., LG Chem Ltd., BYD Electronic Company Limited, TDK Corporation, Panasonic Corporation, Chaowei Power Holdings Ltd., GS Yuasa Corporation, SK Inc., Berkshire Hathaway Inc., China Aviation Lithium Battery Co. Ltd., Hefei Guoxuan High-Tech Power Energy Co. Ltd., Sunwoda Electronic Co. Ltd., Farasis Energy Inc., E-One Moli Energy Corp., EVE Energy Co. Ltd., Hitachi Chemical Co. Ltd., Johnson Controls International plc, Kokam Co. Ltd., Tianjin Lishen Battery Co. Ltd., Murata Manufacturing Co. Ltd., Dongguan Boliwei Battery Co. Ltd., Northvolt AB, Saft Groupe SA, OptimumNano Energy Co. Ltd., Tesla Inc., A123 Systems LLC, Toshiba Corporation, VARTA AG, Wanxiang Group Corporation, Winston Global Energy Limited, Zhejiang Narada Power Source Co. Ltd., Exide Industries Limited, Amara Raja Batteries Limited.
What Geographic Markets Are Powering Growth in the Batteries Market?
Asia-Pacific was the largest region in the batteries market in 2023. Western Europe was the second largest region in the batteries market. The regions covered in the batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2123
"This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work."
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas: +1 310-496-7795 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Batteries Market Poised to Hit $196.97 Billion by 2029 with Accelerating Growth Trends here
News-ID: 4149249 • Views: …
More Releases from The Business Research Company
2025-2034 Superconducting Quantum Chip Market Outlook: Key Drivers, Emerging Cha …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Superconducting Quantum Chip Market Through 2025?
The market size of superconducting quantum chips has shown a swift expansion in the past few years. It's forecasted to surge from a value of $0.74 billion in 2024, reaching $0.87 billion in 2025, with a…
What Is Driving Global Responsible AI Governance Consulting Market Growth in 202 …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Responsible AI Governance Consulting Market Size By 2025?
The market size for responsible AI governance consulting has seen substantial growth recently. Projections show it will expand from $0.29 billion in 2024 to $0.43 billion in 2025, indicating a Compound Annual Growth Rate (CAGR) of 49.0%.…
Expansion Of Industrial Fleets Fueling The Growth Of The Market Due To Rising E- …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Material Handling Equipment Telematics Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the size of the telematics market for material handling equipment has experienced swift growth. The market is projected to increase from $5.42 billion in 2024 to $6.14 billion in 2025,…
Higher Educational Professional Audio-Visual (Pro AV) Market Poised to Hit $5.68 …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Higher Educational Professional Audio-Visual (Pro AV) Industry Market Size Be by 2025?
The market size for professional audio-visual (pro av) in the higher education sector has seen robust growth in the past few years. The market is projected to increase from a value of $3.54 billion…
More Releases for Batteries
Lithium Coin Batteries Market | Duracell, Energizer, FDK, GP Batteries
The global lithium coin batteries market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the lithium coin batteries market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth…
India Lithium-Ion Battery Market Top Key Players - Exide Batteries India, TDS Gu …
As electrode materials for India Lithium-Ion Battery Market, nanomaterials have several unique physicochemical properties, such as large surface area, short transport length, high reversible capacity, and long cycle life. Energy storage in lithium-ion batteries is based on inserting lithium into either a type of graphite (cathode) or an oxide (anode). Charging and discharging consist of the transport of lithium ions between two storage media.
Developing next-generation lithium-ion batteries with dramatically…
India Lithium-Ion Battery Market Top Key Players - Exide Batteries India, TDS Gu …
India Lithium-Ion Battery Market are a group of rechargeable battery types in which lithium ions move to the anode at the negative electrode during discharge and re-move during charging. Chemical, performance, cost, and safety characteristics depend on the type of lithium-ion battery.
India Lithium-Ion Battery Market is common in home appliances. They are the most popular rechargeable batteries for portable electronics, either with the highest energy-to-weight ratio, high open…
India Lithium ion Battery Market Top Key Players - Exide Batteries India, TDS Gu …
The lithium-ion batteries market in India is expected to grow significantly in the next five years. Some of the important initiatives by the Government of India that will accelerate the growth of this market are National Electric Mobility Mission Plan 2020, with a projection of getting 6-7 million electric vehicles on Indian roads by 2020 and a target of 175 GW installation of renewable energy by 2022.
Beyond consumer electronics, lithium-ion…
Motorcycle Batteries Market Growing Up By Type: Lithium-ion Batteries, Lead-acid …
Acumen Research and Consulting has announced the addition of the "Motorcycle Batteries Market” report to their offering.
The Motorcycle Batteries Market Report 2018 is an in depth study analyzing the current state of the Motorcycle Batteries Market. It provides brief overview of the market focusing on definitions, market segmentation, end-use applications and industry chain analysis. The study on Motorcycle Batteries Market provides analysis of China market covering the industry trends, recent…
AGM batteries compared with lithium-ion batteries, increasing demand for high po …
The global AGM battery market size is estimated to grow from USD 10.2 billion in 2019 to USD 13.9 billion by 2025; it is expected to grow at a CAGR of 5.3%. The growth of this market is expected to be driven by the inherent benefits of AGM batteries such as their maintenance free & non-spillable nature, upsurge in renewable energy investments, increasing demand for energy storage solutions for high-current…
