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Battery Market Trends

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Report ID: 3474
Published Date: Aug 27, 2024
Report Format: PDF, PPT

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Battery Market Trends

Growth Drivers

Increasing Demand for Batteries from Automotive Applications
Growing Popularity of Portable Consumer Electronics

Challenges

Mismatch in Demand and Supply of Raw Materials for Battery Manufacturing

Battery Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	15.7%
Base Year Market Size (2023)	USD 120.17 billion
Forecast Year Market Size (2036)	USD 800.07 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Battery Market Size & Share, Growth Trends 2036

Author Credits: Abhishek Verma

Report ID: 3474
Published Date: Aug 27, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of battery is evaluated at USD 135.26 billion.

Battery Market size was valued at USD 120.17 billion in 2023 and is expected to reach USD 800.07 billion by 2036, registering around 15.7% CAGR during the forecast period i.e., between 2024-2036. The market growth is driven by increasing demand for batteries from automotive applications and growing popularity of portable consumer electronics.

Asia Pacific is likely to dominate majority revenue share by 2036, on the back of increase in automobile production, and high production of consumer electronics in emerging economies such as China and India.

The major players in the market are Panasonic Corporation, GS Yuasa International Ltd., BYD Company Ltd., A123 Systems LLC, Samsung SDI Co., Ltd., and others.

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