Europe Battery Market Size & Outlook, 2023-2030
Europe battery market, 2018-2030 (US$M)
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Europe battery market highlights
- The Europe battery market generated a revenue of USD 19,210.6 million in 2023.
- The market is expected to grow at a CAGR of 20.1% 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.
- Country-wise, Belgium is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 19,210.6 million |
| Market revenue in 2030 | USD 69,201.0 million |
| Growth rate | 20.1% (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 |
| 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, Europe region accounted for 16.3% of the global battery market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 69,201.0 million by 2030.
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe 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 54.41% in 2023. Horizon Databook has segmented the Europe 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 European Commission has planned to give a boost to the automotive industry by encouraging FDIs from Asian automobile manufacturers, such as Honda and Toyota, which is expected to fuel market growth over the forecast period.
The European lead acid battery market is driven by mergers and acquisitions and numerous FDIs in the domestic automotive industry. Regulatory inclination aimed at promoting domestic automobile production is also anticipated to augment battery demand over the forecast period.
In April 2023, the Finnish Minerals Group signed a Memorandum of Understanding (MoU) with a potential partner for a cell production plant project. An environmental impact assessment (EIA) will follow for two options with a production capacity of 27 or 40 GWh.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe battery market , including forecasts for subscribers. This continent databook contains high-level insights into Europe battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe battery market size, by country, 2018-2030 (US$M)
Europe Battery Market Outlook Share, 2023 & 2030 (US$M)
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