Market Size of North Europe Battery Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North Europe Battery Market Analysis
The North Europe battery market is expected to grow at a CAGR of more than 15% during the forecast period.
The market was moderately affected due to the Covid-19 pandemic. However, the market has since rebounded and is expected to grow steadily during the forecast period.
- Over the long term, rising demand for electric vehicles and its charging infrastructure projects are expected to stimulate market growth.
- On the flip side, the supply-demand gap of raw materials, such as cobalt which is essential for the Li-ion battery, is likely to hinder the market's growth during the forecast period.
- However, the commercialization of new and advanced battery chemistries is expected to be a significant opportunity for the market during the forecast period.
