Global Battery Market Size & Outlook, 2023-2030
Global battery market, 2018-2030 (US$M)
Related Markets
Global battery market highlights
- The global battery market generated a revenue of USD 118,203.4 million in 2023 and is expected to reach USD 329,842.8 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 15.8% by 2030.
- In terms of segment, lithium ion accounted for a revenue of USD 50,853.9 million in 2023.
- Sodium-ion is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, South Africa is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 118,203.4 million |
| Market revenue in 2030 | USD 329,842.8 million |
| Growth rate | 15.8% (CAGR from 2023 to 2030) |
| Largest segment | Lithium ion |
| Fastest growing segment | Sodium-ion |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lead Acid, Lithium Ion, Nickel-based, Sodium-ion, Flow Battery, Small Sealed Lead-acid Batteries |
Other key industry trends
- In terms of revenue, the North America accounted for 22.5% of the global battery market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, South Africa is the fastest growing regional market and is projected to reach USD 403.1 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global battery market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to battery market will help companies and investors design strategic landscapes.
Lithium ion was the largest segment with a revenue share of 43.02% in 2023. Horizon Databook has segmented the Global battery market based on lead acid, lithium ion, nickel-based, sodium-ion, flow battery, small sealed lead-acid batteries covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Battery Product Outlook (Revenue, USD Million, 2018-2030)
- Lead Acid
- SLI
- Stationary
- Motive
- Lithium Ion
- Nickel-based
- Sodium-ion
- Flow Battery
- Small Sealed Lead-acid Batteries
- Others
- Lead Acid
- Global Battery End Use Outlook (Revenue, USD Million, 2018-2030)
- Aerospace
- Automobile
- ICE Engines
- Passenger vehicles
- Commercial vehicles
- Electric vehicles
- E-Bikes
- E-Cars
- E-Buses
- E-Trucks
- ICE Engines
- Consumer Electronics
- Grid-scale Energy Storage
- Telecom
- Power Tools
- Military & Defense
- Others
- Global Battery Application Outlook (Revenue, USD Million, 2018-2030)
- Automotive Batteries
- Industrial Batteries
- Portable Batteries
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Target buyers of Global battery market databook
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Our clientele includes a mix of battery market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global battery market , including forecasts for subscribers. This global databook contains high-level insights into Global battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global battery market size, by regions, 2018-2030 (US$M)
Top 10 countries: Battery market size, 2023 (US$M)
Global battery market share, by product, 2023 & 2030 (%, US$M)
Battery market: Opportunity assessment by country
Global battery market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 16,663.3 | 18,292.8 | 20,179.2 | 20,947.5 | 23,719.3 | 26,539.7 | 29,844.2 | 33,734.5 | 38,337.3 | 43,811.5 | 50,357.4 | 58,228.9 | 67,749.7 | 14.3% |
| Europe | 9,276.2 | 10,766.2 | 12,535.3 | 13,713.4 | 16,344.8 | 19,210.6 | 22,691.9 | 26,943.3 | 32,163.5 | 38,609.7 | 46,616.2 | 56,621.0 | 69,201.0 | 20.1% |
| Asia Pacific | 39,886.2 | 44,026.8 | 48,838.4 | 50,986.7 | 58,067.4 | 65,360.6 | 73,938.1 | 84,075.8 | 96,118.5 | 110,500.0 | 127,769.1 | 148,624.2 | 173,959.1 | 15.0% |
| Latin America | 3,296.9 | 3,660.2 | 4,083.8 | 4,288.5 | 4,912.8 | 5,562.9 | 6,330.6 | 7,241.6 | 8,328.4 | 9,631.7 | 11,203.5 | 13,110.1 | 15,436.7 | 15.7% |
| MEA | 651.9 | 778.7 | 930.2 | 1,041.3 | 1,262.1 | 1,529.5 | 1,817.6 | 2,123.5 | 2,441.2 | 2,760.2 | 3,063.4 | 3,323.1 | 3,496.3 | 12.5% |
| Overall | 69,774.4 | 77,524.7 | 86,566.8 | 90,977.3 | 104,306.5 | 118,203.3 | 134,622.5 | 154,118.6 | 177,388.8 | 205,313.1 | 239,009.7 | 279,907.3 | 329,842.8 | 15.8% |
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