Australia Battery Market Size & Outlook, 2023-2030
Australia battery market, 2018-2030 (US$M)
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Australia battery market highlights
- The Australia battery market generated a revenue of USD 1,960.8 million in 2023 and is expected to reach USD 6,088.6 million by 2030.
- The Australia market is expected to grow at a CAGR of 17.6% from 2024 to 2030.
- In terms of segment, lithium ion was the largest revenue generating product in 2023.
- Sodium-ion is the most lucrative product segment registering the fastest growth during the forecast period.
Battery market data book summary
| Market revenue in 2023 | USD 1,960.8 million |
| Market revenue in 2030 | USD 6,088.6 million |
| Growth rate | 17.6% (CAGR from 2023 to 2030) |
| Largest segment | Lithium ion |
| Fastest growing segment | Sodium-ion |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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 |
| Key market players worldwide | BYD Co Ltd ADR, GS Yuasa Corp, Hitachi Ltd, Johnson Controls International PLC, LG Chem, NEC Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Toshiba Corporation |
Other key industry trends
- In terms of revenue, Australia accounted for 1.7% of the global battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China battery market is projected to lead the regional market in terms of revenue in 2030.
- Vietnam is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,479.2 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia 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 44.07% in 2023. Horizon Databook has segmented the Australia 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.
The growth of the lithium-ion battery market in Australia is driven by initiatives undertaken by the government of the country to increase the adoption of EVs in Australia. For instance, the government plans to look for co-investors to develop EV charging infrastructure across the country in the coming years.
In addition, companies based in Australia are enhancing their lithium-ion battery production capacities. For instance, Energy Renaissance Pty Ltd is developing a lithium-ion battery gigafactory in Australia to fulfill the growing demand for lithium-ion batteries in the country. These factors are anticipated to fuel the growth of the lithium-ion battery market in Australia over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia battery market , including forecasts for subscribers. This country databook contains high-level insights into Australia battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia battery market size, by product, 2018-2030 (US$M)
Australia Battery Market Outlook Share, 2023 & 2030 (US$M)
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