Sweden Battery Market Size & Outlook, 2023-2030
Sweden battery market, 2018-2030 (US$M)
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Sweden battery market highlights
- The Sweden battery market generated a revenue of USD 906.7 million in 2023 and is expected to reach USD 3,342.4 million by 2030.
- The Sweden market is expected to grow at a CAGR of 20.5% 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 906.7 million |
| Market revenue in 2030 | USD 3,342.4 million |
| Growth rate | 20.5% (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, Sweden accounted for 0.8% 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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Sweden 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 49.67% in 2023. Horizon Databook has segmented the Sweden 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.
Sweden has one of the highest shares of energy production from renewable energy Sources among the EU member states. According to the European Commission, Sweden leads the EU with almost two-thirds (66.0%) of gross final energy consumption in 2022 coming from renewable Sources: The Advanced Battery Consortium (ALABC), Battery Council International, International Lead Association, Canadian Battery Association (CBA), EPA, Primary Interviews, Grand View Research.
The demand for critical minerals, such as lithium, cobalt, and platinum, has surged in recent years as electric vehicles (EVs) become increasingly popular, stimulating automakers and battery manufacturers. For instance, in November 2023, Northvolt, a Swedish battery producer, developed a new sodium-ion cell technology and plans to ramp up battery production in the next few years.
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Our clientele includes a mix of battery market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Sweden battery market , including forecasts for subscribers. This country databook contains high-level insights into Sweden battery market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Sweden battery market size, by product, 2018-2030 (US$M)
Sweden Battery Market Outlook Share, 2023 & 2030 (US$M)
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