Battery Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Type (Primary and Secondary Battery), Technology (Lead-acid Battery, Lithium-ion Battery, Nickel-metal Hydride (NiMH) Battery, Nickel-cadmium (NiCD) Battery, Nickel–zinc (NiZn) Battery, Flow Battery, Sodium–sulfur (NAS) Battery, Zinc-manganese Dioxide Battery, Small Sealed Lead-acid Battery, and Other Technologies), Application (Automotive Batteries (HEV, PHEV, EV), Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.), Portable Batteries (Consumer Electronics etc.), Power Tools Batteries, SLI Batteries, and Others), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa)

  • ABOUT THIS REPORT
    • Market Snapshot
    • Market Overview
    • Scope of the Report
    • Key Market Trends
    • Competitive Landscape
    • Major Players
  • TABLE OF CONTENTS

Market Snapshot

Study Period:

2018-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

12.31 %

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Market Overview

The battery market is expected to grow at a CAGR of more than 12.31% during the forecast period of 2020 – 2025. 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 is likely to hinder the market growth.

  • The automotive batteries segment is expected to be the fastest growing segment for the battery market, and it is expected to be the leading end-user for lithium-ion battery in upcoming years.
  • The number of people without access to electricity in the African region is expected to increase from 588 million in 2016 to about 602 million in 2030, despite efforts to boost electrification through grid connectivity. The Sub-Saharan region, in particular, is expected to be one of the central hotspots for off-grid solar initiatives. As solar energy is an intermittent source and generates power only during the daytime, use of the off-grid solar power in conjunction with energy storage substantially enhances the utilization of solar PV units. As a result, the use of energy storage with solar PV has been gaining popularity in developed countries, which is likely to create huge opportunity for battery market.
  • North America and Asia-Pacific are the regional hotspots for the battery market, with countries like the United States, India, and China contributing to its growth.

Scope of the Report

The battery market report include:

Type
Primary Battery
Secondary Battery
Technology
Lead-acid Battery
Lithium-ion Battery
Nickel-metal Hydride (NiMH) Battery
Nickel-cadmium (NiCD) Battery
Nickel–zinc (NiZn) Battery
Flow Battery
Sodium–sulfur (NAS) Battery
Zinc-manganese Dioxide Battery
Small Sealed Lead-acid Battery
Other Technologies (Dual Carbon Battery, Zinc-carbon Battery, Silver-oxide Battery, etc.)
Application
Automotive Batteries (HEV, PHEV, EV)
Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)
Portable Batteries (Consumer Electronics etc.)
Power Tools Batteries
SLI Batteries
Others
Geography
North America
Asia-Pacific
Europe
Middle-East and Africa
South America

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Key Market Trends

Automotive Batteries segment set to be the Fastest Growing Segment

  • The automotive sector is expected to be one of the major end-user segments for lithium-ion batteries in the near future. The penetration of electric vehicles is anticipated to provide a massive impetus for the lithium-ion battery industry growth.
  • A range of different vehicle types is now available globally, featuring increasing degrees of hybridization and electrification. There are various types of vehicles, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles, and electric vehicles (EVs).
  • In developed and developing economies, both alike, the adoption of electric vehicles is increasing at a high growth rate. The United States and China are already leading in global EV sales, along with other developing economies like India, ehich has already begun transforming its public transportation infrastructure for EVs.
  • In the current market scenario, policy support plays a crucial role in driving the adoption of electric vehicles. Policy support enables market growth by making vehicles appealing to consumers, reducing risks for investors, and encouraging manufacturers to develop electric vehicle on a large scale.
  • Falling battery prices and improving technology are expected to bring price-competitive electric vehicles to the market, creating demand for battery technologies. 

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Asia-Pacific Driving the Market Demand

  • Asia-Pacific has multiple growing economies with substantial natural as well as human resources, with China and India expected to be major investment hotspots for battery companies in coming years, on account of policy-level support, from the governments, encouraging the manufacturing sector.
  • The deployment of electric vehicles and the installation of renewable power plants in China and India is increasing rapidly, which is expected to foster massive demand for batteries.
  • China is currently one of the largest markets for the electric vehicle and has registered ~30 times faster growth than the electric vehicle market in 2018 when compared to 2017.
  • The increasing adoption of electric vehicles is in line with the clean energy policy. In order to reduce the demand-supply gap, the government of China is planning to ease restriction on automakers importing car into the country.
  • Asia-Pacific is likely to be the dominant player in the battery market, supported by increasing urbanization and consumer spending across several countries, such as India and China, which is expected to ramp up the demand for technically advanced devices & vehicles, due to the benefits provided by the same. Consecutively, leading to a growth in demand for batteries.

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Competitive Landscape

The battery market remains highly fragmented, with the presence of numerous players and some of the major players include Contemporary Amperex Technology Co. Limited, BYD Co. Ltd, Duracell Inc., EnerSys, GS Yuasa Corporation, Clarios, LG Chem Ltd, Panasonic Corporation, Saft Groupe S.A., Samsung SDI Co. Ltd, Sony Corporation, Tesla, Inc., and TianJin Lishen Battery Joint-Stock CO.,LTD.

Major Players

  1. Contemporary Amperex Technology Co. Limited
  2. BYD Co. Ltd
  3. Duracell Inc.
  4. Exide Industries Ltd.
  5. Tesla Inc.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments (Including Ongoing R&D Activities in the Battery Market)

    4. 4.4 Battery/Raw Material Price Trends and Forecast, by Major Technology Type (in USD per kWh or USD per tonne)

    5. 4.5 International Trade Statistics (Import/Export Data), by Major Technology Type, By Major Countries, in USD

    6. 4.6 Market Dynamics

      1. 4.6.1 Drivers

      2. 4.6.2 Restraints

    7. 4.7 Supply Chain Analysis

    8. 4.8 Porter's Five Forces Analysis

      1. 4.8.1 Bargaining Power of Suppliers

      2. 4.8.2 Bargaining Power of Consumers

      3. 4.8.3 Threat of New Entrants

      4. 4.8.4 Threat of Substitute Products and Services

      5. 4.8.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Primary Battery

      2. 5.1.2 Secondary Battery

    2. 5.2 Technology

      1. 5.2.1 Lead-acid Battery

      2. 5.2.2 Lithium-ion Battery

      3. 5.2.3 Nickel-metal Hydride (NiMH) Battery

      4. 5.2.4 Nickel-cadmium (NiCD) Battery

      5. 5.2.5 Nickel–zinc (NiZn) Battery

      6. 5.2.6 Flow Battery

      7. 5.2.7 Sodium–sulfur (NAS) Battery

      8. 5.2.8 Zinc-manganese Dioxide Battery

      9. 5.2.9 Small Sealed Lead-acid Battery

      10. 5.2.10 Other Technologies (Dual Carbon Battery, Zinc-carbon Battery, Silver-oxide Battery, etc.)

    3. 5.3 Application

      1. 5.3.1 Automotive Batteries (HEV, PHEV, EV)

      2. 5.3.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)

      3. 5.3.3 Portable Batteries (Consumer Electronics etc.)

      4. 5.3.4 Power Tools Batteries

      5. 5.3.5 SLI Batteries

      6. 5.3.6 Others

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Asia-Pacific

      3. 5.4.3 Europe

      4. 5.4.4 Middle-East and Africa

      5. 5.4.5 South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 BYD Co. Ltd

      2. 6.3.2 Contemporary Amperex Technology Co. Limited

      3. 6.3.3 Duracell Inc.

      4. 6.3.4 EnerSys

      5. 6.3.5 GS Yuasa Corporation

      6. 6.3.6 Clarios (Formerly Johnson Controls International plc)

      7. 6.3.7 LG Chem Ltd

      8. 6.3.8 Panasonic Corporation

      9. 6.3.9 Saft Groupe S.A.

      10. 6.3.10 Samsung SDI Co. Ltd

      11. 6.3.11 Sony Corporation

      12. 6.3.12 Tesla, Inc.

      13. 6.3.13 TianJin Lishen Battery Joint-Stock CO.,LTD.

    7. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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