Attractive Opportunities
Global Demand Analysis & Sales Opportunities in Battery Market (H3)
- The annual demand for battery was USD 8.3 billion in 2024 and is expected to reach USD 8.6 billion in 2025, up 3.9% than the value in 2024.
- During the forecast period (2025-2030), the battery market is expected to grow at a CAGR of 2.9%. The annual demand will reach USD 9.9 billion in 2030.
- During 2025-2030, the battery industry is expected to generate a cumulative sales opportunity of USD 55.8 billion, which is almost 1.5 times the opportunities during 2019-2024.
High-Growth Market Segments:
- Asia-Pacific remains the biggest market for batteries in the years to come.
- By battery type, Lead-acid will likely remain dominant in the market, whereas lithium-ion is anticipated to maintain its growth momentum.
- By industry type, Telecom remains the biggest demand generator for batteries. Aviation, in the post-pandemic market developments, is likely to rebound at the fastest pace.
Market Statistics
Have a look at the sales opportunities presented by the battery market in terms of growth and market forecast.
Battery Market Data & Statistics
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Market Statistics
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Value (in USD Billion)
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Market Growth (%)
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Annual Market Size in 2023
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USD 8.0 billion
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-
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Annual Market Size in 2024
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USD 8.3 billion
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YoY Growth in 2024: 4.1%
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Annual Market Size in 2025
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USD 8.6 billion
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YoY Growth in 2025: 3.9%
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Annual Market Size in 2030
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USD 9.9 billion
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CAGR 2025-2030: 2.9%
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Cumulative Sales Opportunity during 2025-2030
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USD 55.8 billion
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-
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Top 10 Countries’ Market Share in 2024
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USD 6.6 billion +
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> 80%
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Top 10 Company’s Market Share in 2024
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USD 4.2 billion to USD 5.8 billion
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50% - 70%
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Market Dynamics
Introduction:
The world is rapidly transitioning from fossil fuels to clean, emission-free electrification, and batteries are playing a crucial role in making this shift possible. Acting as essential energy storage solutions, batteries convert chemical energy into electrical energy through a chemical reaction. Among the two types - non-rechargeable (primary) and rechargeable (secondary)—rechargeable batteries are widely used for energy storage. They connect to a primary energy source, get charged, and provide energy as needed.
The leading battery technologies include lead-acid, lithium-ion, and nickel-cadmium, each with diverse applications across various industries. However, this report focuses specifically on batteries used in the marine, railway, defense, aviation, and telecom industries.
Market Drivers:
The global battery market is experiencing rapid growth, driven by the increasing demand for electric vehicles (EVs), renewable energy storage, and consumer electronics. Key drivers include advancements in lithium-ion and solid-state battery technologies, which offer enhanced energy density, faster charging, and longer life cycles. As sustainability becomes a priority, the market is seeing a shift towards recycling and eco-friendly battery solutions. Additionally, government incentives and policies promoting clean energy solutions continue to fuel market expansion.
Market Challenges:
Key challenges inhibiting battery industry growth:
Safety concerns:
- The safety of batteries is heavily influenced by their chemistry, application environment, and handling practices.
- Lithium-ion batteries, a dominant technology, exhibit inherent instability during operation. Understanding their electrochemical reactions and material properties is crucial to maintain safety.
- Factors such as temperature and voltage regulation are crucial in battery functionality. Any deviations can result in gas and heat release, potentially causing battery failure and fire hazards.
- The battery industry faces challenges due to fluctuations in the prices of critical raw materials.
Market Opportunities:
- Grid-scale energy storage deployment acceleration creates massive demand for long-duration batteries as renewable penetration drives the need for flexible capacity.
- Commercial building energy management trends favor behind-the-meter battery installations that enable peak shaving and demand response participation.
- Electric aviation emergence presents premium-value opportunities for high energy-density batteries meeting stringent safety and performance requirements.
- Second-life battery applications expand as first-generation EV packs find new purpose in less-demanding stationary storage roles.
- Advanced manufacturing technologies including electrode dry-coating and solid-state electrolyte processes drive opportunities to establish regional battery production advantages.
Segments' Insights
Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Battery Type Analysis
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Lead-acid [Flooded, VRLA-Gel, and VRLA-AGM], Lithium-ion, and Nickel-cadmium
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Lead-acid will likely remain dominant in the market, whereas lithium-ion is anticipated to maintain its growth momentum.
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Industry Type Analysis
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Marine, Railway, Defense, Aviation, and Telecom
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Telecom remains the biggest demand generator for batteries. Aviation, in the post-pandemic market developments, is likely to rebound at the fastest pace.
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Region Analysis
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North America, Europe, Asia-Pacific, and the Rest of the World
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Asia-Pacific remains the biggest market for batteries in the years to come.
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Battery Insights
"Lead-acid battery segment accounted for the largest market share."
- The battery market is segmented into lead-acid, lithium-ion, and nickel-cadmium batteries. Lead-acid battery is expected to remain the dominant technology in the market, holding more than 60% share, while lithium-ion battery is projected to sustain its strong growth trajectory. Although lithium-ion batteries experienced a significant double-digit decline during the pandemic, they are expected to remain the fastest-growing battery type in the market during the forecast period.
- The numerous advantages of lithium-ion technology, including high energy density, low self-discharge, and minimal maintenance requirements, drive this growth. Furthermore, increasing bandwidth demands and expanding the wireless market will provide additional momentum for market growth in the coming years.

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Industry Insights
"The telecom industry segment accounted for the largest market share."
- The market is segmented into marine, railway, defense, aviation, and telecom. The telecom industry continues to be the largest driver of battery demand, while the aviation industry is expected to rebound at the fastest rate in the post-pandemic market recovery.
- The telecom industry is anticipated to remain the primary driver of battery demand during the forecast period, with batteries being predominantly used for backup power applications. The increasing reliance on cloud computing and data streaming has made high-performance, reliable backup power more critical than ever.
- Meanwhile, the aviation segment is projected to be the fastest-growing market, driven by a rebound in aircraft deliveries and advancements in electric aircraft development.
Regional Insights
“Asia-Pacific is expected to remain the largest market for batteries in the coming years, driven by increasing industrialization, growing energy storage needs, and the rapid adoption of electric vehicles and renewable energy solutions.”
- The market is bifurcated into North America, Europe, Asia-Pacific, and the Rest of the World.
- Asia-Pacific is projected to remain the largest and fastest-growing battery market during the forecast period, holding over 40% market share. The region’s strong and rapidly expanding telecom industry, coupled with significant advancements in digitalization, has accelerated the adoption of next-generation technologies like 5G and IoT. Additionally, China's dominance in lithium-ion battery manufacturing further supports industry growth in the region.
- Meanwhile, North America is expected to offer substantial growth opportunities over the next few years, fueled by a robust aviation industry and the presence of major players such as EnerSys, East Penn Manufacturing Co., and C&D Technologies Inc.

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Competitive Landscape
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. Most of the major players are providing both lead-acid and lithium-ion batteries in their portfolio.
The following are the key players in the battery market (arranged alphabetically).
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Amara Raja Batteries Ltd.
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C&D Technologies, Inc.
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East Penn Manufacturing Co.
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EnerSys
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Exide Technologies, LLC
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GS Yuasa Corporation
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Leoch International Technology Ltd.
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Saft
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Toshiba Corporation
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Zhejiang Narada Power Source Co., Ltd.
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

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Recent Developments
Recent Market JVs and Acquisitions:
A huge number of strategic alliances including M&As, JVs, etc., have been performed over the past few years:
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In 2021, SK Innovation and Ford Motor Company launched BlueOval SK to produce high-capacity batteries for Ford's EV lineup. The JV is set to invest heavily in U.S.-based manufacturing facilities.
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In 2020, Tesla acquired Maxwell Technologies, a leader in ultracapacitor technology and dry electrode processes. The acquisition aims to improve battery performance and reduce costs for Tesla’s vehicles.
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To further expand its energy storage system solutions, East Penn Manufacturing Co. acquired the majority stake in Navitas Systems in 2019.
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Market Study Period
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2019-2030
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Base Year
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2024
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Forecast Period
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2025-2030
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Trend Period
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2019-2023
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Number of Tables & Figures
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>100
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Number of Segments Analysed
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3 (Battery Type, Industry Type, and Region)
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Number of Regions Analysed
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4 (North America, Europe, Asia-Pacific, Rest of the World)
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Countries Analysed
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15 (The USA, Canada, Mexico, Germany, France, Italy, The UK, China, Japan, India, Brazil, Saudi Arabia, Rest of Europe, Rest of APAC, and Rest of the World)
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Free Customization Offered
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10%
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After Sales Support
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Unlimited
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Report Presentation
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Complimentary
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Market Dataset
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Complimentary
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Further Deep Dive & Consulting Services
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10% Discount
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Market Segmentation
This report studies the market, covering a period of 15 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The global battery market is segmented into the following categories:
Battery Market, by Battery Type
- (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- (Lead-acid Battery Type Analysis: Flooded, VRLA-Gel, and VRLA-AGM)
- Lithium-ion batteries (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Nickel-Cadmium Batteries (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Battery Market, by Industry Type
- Marine
- Railway
- Defense
- Aviation
- Telecom
Battery Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s battery market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruits available in the market and formulating growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Competitive Benchmarking
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Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]