Market Size of Europe Battery Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 13.44 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Battery Market Analysis
Europe battery market is estimated to be at USD 23.34 billion by the end of this year and is projected to reach USD 43.84 billion in the next five years, registering a CAGR of 13.44% during the forecast period.
- Over the medium term, major factors driving the market include declining lithium-ion battery prices, rapid adoption of electric vehicles, growing renewable sector, and increased sale of consumer electronics.
- On the other hand, the demand-supply mismatch of raw materials will likely hinder market growth during the forecast period.
- Nevertheless, the increasing demand for the fast delivery of products pushed for improvements in the logistics and distribution business in the European region will likely provide ample opportunities for Li-ion batteries in the material handling industry in the coming years.
- Germany is expected to witness significant growth during the forecast years due to the increasing automotive industry during forecast period.
