Market Size of Battery Plate Industry
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 440.80 Million |
| Market Size (2029) | USD 716.30 Million |
| CAGR (2024 - 2029) | 10.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Battery Plate Market Analysis
The Battery Plate Market size is estimated at USD 440.80 million in 2024, and is expected to reach USD 716.30 million by 2029, growing at a CAGR of 10.20% during the forecast period (2024-2029).
- Over the medium term, factors such as declining prices of lithium-ion batteries and increased penetration of renewable energy driving demand for energy storage systems are likely to drive the battery plate market in the forecast period.
- On the other hand, the demand-supply mismatch of battery raw materials like cobalt, lithium, copper, etc., which is expected to restrain the demand for battery plates in the studied period.
- Nevertheless, technological advancements in novel materials (composites, alloys, etc.) and configurations (bag plates) for battery plates to increase efficiency and sustainability will likely create lucrative growth opportunities for the market during the forecast period.
- Asia-Pacific is the fastest-growing market during the forecast period due to the rising energy demand. This growth is attributed to increasing investments, coupled with supportive government policies in the countries of this region, including India, China, and Australia.
