Market Size of Europe Battery Cell Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 12.70 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Battery Cell Market Analysis
The Europe battery cell market is expected to grow at a CAGR of more than 12.7% in the forecast period of 2022-2027. Europe is the leading region in implementing renewable energy technology and electric vehicles; due to this, the region is considered one of the leading regions in terms of battery cell consumption. This can be ascribed to the ease of availability of sustainable technologies and infrastructure in the region for renewable energy and EVS. During the Covid-19 pandemic, due to lockdown and cross-border restrictions, there were limitations on the movement of human resources and supply of goods & raw materials, which resulted in lower demand for battery cells. With factors such as the investment in renewable energy solutions in all major European countries, the battery cell market is expected to grow in a couple of years. However, safety concerns regarding lithium-ion batteries are anticipated to hinder the market's growth during the forecast period.
- The automotive battery segment is expected to dominate the market during the forecast period. This can be ascribed to the government's supportive policies, and increased awareness about the EV among consumers is expected to drive the market during the forecast period.
- The development of advanced batteries, which have high heat and fire resistance, a higher charging cycle and longer life, is likely to present a significant opportunity for the battery cell manufacturers in the market in the near future.
- Germany has dominated the battery cell market. The government's supportive policies for the research and development of electric vehicles, coupled with higher investment in renewable energy, are anticipated to drive the market in the country.
