UK Metal Li-based Battery Casing Market Size & Outlook
UK metal li-based battery casing market, 2018-2030 (US$M)
Related Markets
UK metal li-based battery casing market highlights
- The UK metal li-based battery casing market generated a revenue of USD 12.3 million in 2023 and is expected to reach USD 51.8 million by 2030.
- The UK market is expected to grow at a CAGR of 22.7% from 2024 to 2030.
- In terms of segment, rechargeable was the largest revenue generating type in 2023.
- Rechargeable is the most lucrative type segment registering the fastest growth during the forecast period.
Metal li-based battery casing market data book summary
| Market revenue in 2023 | USD 12.3 million |
| Market revenue in 2030 | USD 51.8 million |
| Growth rate | 22.7% (CAGR from 2023 to 2030) |
| Largest segment | Rechargeable |
| Fastest growing segment | Rechargeable |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Primary, Rechargeable |
| Key market players worldwide | Constellium SE Class A, Gestamp Automocion, GF Casting Solutions, Granges AB, Magna International Inc, MINTH Group, NeMaK, Norsk Hydro ASA, Novelis UK, Targray, Thyssenkrupp AG, UACJ |
Other key industry trends
- In terms of revenue, UK accounted for 0.3% of the global metal li-based battery casing market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany metal li-based battery casing market is projected to lead the regional market in terms of revenue in 2030.
- Poland is the fastest growing regional market in Europe and is projected to reach USD 708.8 million by 2030.
Rechargeable was the largest segment with a revenue share of 88.62% in 2023. Horizon Databook has segmented the UK metal li-based battery casing market based on primary, rechargeable covering the revenue growth of each sub-segment from 2018 to 2030.
As per the Organisation for Economic Co-operation and Development (OECD), the GDP of the UK increased by 0.6% in the first quarter of 2024 compared to the previous quarter, following a contraction in two consecutive quarters of 2023.
In 2023, the economy of the UK grew by 0.1% in 2023, as reported by European Commission. The outlook for 2024 looks positive, as inflation is expected to decline, and momentum is expected to pick up in 2025.
The UK metal Li-based battery casings market is poised for significant growth, driven by government policies aimed at accelerating the adoption of EVs.Recent measures, including the UK government's commitment to end the sale of new petrol and diesel vehicles by 2030, highlight the urgency to transition towards electric mobility.
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Metal Li-based Battery Casing Market Scope
Metal Li-based Battery Casing Market Companies
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UK metal li-based battery casing market size, by type, 2018-2030 (US$M)
UK Metal Li-based Battery Casing Market Outlook Share, 2023 & 2030 (US$M)
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