Denmark Battery Market Size & Outlook, 2023-2030
Denmark battery market, 2018-2030 (US$M)
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Denmark battery market highlights
- The Denmark battery market generated a revenue of USD 347.7 million in 2023 and is expected to reach USD 1,612.4 million by 2030.
- The Denmark market is expected to grow at a CAGR of 24.5% 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 347.7 million |
| Market revenue in 2030 | USD 1,612.4 million |
| Growth rate | 24.5% (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, Denmark accounted for 0.3% of the global battery market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Europe, UK battery market is projected to lead the regional market in terms of revenue in 2030.
- Belgium is the fastest growing regional market in Europe and is projected to reach USD 1,494.7 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
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Denmark 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 49.55% in 2023. Horizon Databook has segmented the Denmark 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.
A strategic increase in electric vehicles, supported by Denmark's renewable energy grid, demonstrates a commitment to a greener future. The presence of major global electric vehicle manufacturers, such as Tesla, Volvo, Volkswagen, XPeng, and Mercedes-Benz, who are continuously launching new electric vehicle models in Denmark is expected to increase the demand for batteries.
The smart recommended transition strengthens the green initiative in the country, signifying a future fleet of 6 internal combustion engine (ICE) vehicles, 13 heavy electric vehicles (HEVs), 8 plug-in hybrid electric vehicles (PHEVs), and a significant increase to 72 Battery Electric Vehicles (BEVs).
This transition is driven by a favorable electricity emission factor of 0.14252 kg CO2e/kWh, making electrification environmentally friendly and economically viable.
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Horizon Databook provides a detailed overview of country-level data and insights on the Denmark battery market , including forecasts for subscribers. This country databook contains high-level insights into Denmark battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Denmark battery market size, by product, 2018-2030 (US$M)
Denmark Battery Market Outlook Share, 2023 & 2030 (US$M)
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