Advanced Battery Market Size, Trends, Share, Growth | Report 2022-2030
The global advanced battery market was surpassed at USD 71.4 billion in 2021 and is expected to hit around USD 133.8 billion by 2030, growing at a CAGR of 7.23% from 2022 to 2030.
Report Highlights
The implementation of favorable government policies regarding the usage of energy-efficient products is likely to augment the market growth over the forecast period.
The market is primarily driven by the growing demand for battery energy storage systems across various end-use segments including residential, commercial, and industrial sectors. Moreover, the rising demand for renewable power generation infrastructure requiring energy storage for later use is estimated to propel the market growth over the next seven years.
Industry participants are focusing on research and development activities to develop advanced battery cells and modules that provide longer life, better performance, and lower battery cost when compared to traditional batteries. Moreover, market players follow several strategic initiatives, such as diversifying their product offerings, to enhance their foothold in end-use markets.
Trade disputes among the top economies including the U.S. and China along with the growing impact of COVID-19 are expected to disrupt the market supply chain that includes raw material suppliers, battery pack manufacturers, electrode material producers, and others. This, in turn, is projected to have a negative impact on market growth.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 71.4 billion |
| Revenue Forecast by 2030 | USD 133.8 billion |
| Growth rate from 2022 to 2030 | CAGR of 7.23% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Product, application, region |
| Companies Covered |
GS Yuasa Corp.; Pathion, Inc.; PolyPlus Battery Company Inc.; Oxis Energy Ltd.; Samsung SDI Co. Ltd.; Sion Power Corp.; LG Chem Ltd.; Saft Groupe SA; Siemens; Enerdel, Inc. |
Product Insights
The lithium-ion polymer battery segment accounted for the largest market share of over 19% in 2021 owing to the extensive usage of these products in the electronic devices sector. These batteries have several unique properties, such as high-power density, efficient performance, and compact size, due to which they have a higher demand than the traditional batteries.
Sodium sulfur battery is projected to register the fastest CAGR over the forecast period. Moreover, it serves as large-scale stationary storage during renewable energy power generation. It is able to operate at higher temperatures, utilizes solid electrolyte, and offers low-cost competitive storage technology, long cycling life, and high energy density.
Advanced lead-acid battery occupies a significant market share and is estimated to grow at a prominent CAGR over the forecast period. The growth can be attributed to the usage of lead-acid batteries in consumer electronic devices and in EVs. In addition, they are used as a storage type in uninterrupted power supply devices across several industrial and commercial facilities.
Application Insights
The consumer electronics segment accounted for the maximum market share of over 26% in 2021 owing to the increased demand for electronic devices across the globe. The growing complexity of electronic devices requires smaller, thinner, and more efficient battery packages. This trend is estimated to boost product demand in the consumer electronics segment.
The automotive battery segment is expected to register the highest CAGR over the forecast period owing to the growing penetration of advanced batteries in EVs. Increasing government funding and incentives to enhance the deployment of passenger and commercial level EVs are expected to boost the segment growth over the forecast period.
Battery energy storage systems segment is gaining traction owing to the growing deployment of renewable energy power generation equipment, such as solar PV panels and wind turbines. In addition, policies, such as net metering subsidies, are encouraging the installation of battery energy storage systems in the residential sector as a secondary source of power supply.
Regional Insights
Europe dominated the market in 2021 accounting for over 29.4% of the global share. It will retain the leading position throughout the forecast period owing to the implementation of favorable government policies regarding the deployment of EVs and battery energy storage systems across the region. Countries, such as Germany, Russia, the U.K., Spain, Italy, and France, are focusing on reducing carbon emissions through the usage of clean energy sources, thereby bolstering the demand for advanced batteries.
Asia Pacific accounted for the second-largest market share owing to the high demand for enhanced battery capacity in developing economies, such as China and India. These economies are strategizing the deployment of EVs and thus, require advanced batteries to power the EVs. In addition, rising demand for portable devices including watches, mobile phones, and cameras is expected to drive the regional market.
North America is estimated to grow at a prominent rate over the forecast period with the U.S. being the largest revenue contributor. Technological advancements, such as flexible, printed, thin-film batteries required in wearable devices, are expected to drive the product demand across the region. Moreover, research activities focused on using batteries for plug-in EVs are expected to stimulate regional market growth.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Advanced Battery Market
5.1. COVID-19 Landscape: Advanced Battery Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Advanced Battery Market, By Product
8.1. Advanced Battery Market, by Product, 2022-2030
8.1.1. Lithium-Ion Polymer Battery
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Sodium Sulfur Battery
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Sodium Metal Halide Battery
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Advanced Lead Acid Battery
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Smart Nano Battery
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Others
8.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Advanced Battery Market, By Application
9.1. Advanced Battery Market, by Application, 2022-2030
9.1.1. Consumer Electronics
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Automotive Battery
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Energy Storage Systems
9.1.3.1. Market Revenue and Forecast (2017-2030)
9.1.4. Industrial Battery
9.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Advanced Battery Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 11. Company Profiles
11.1. GS Yuasa Corporation
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Pathion Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. PolyPlus Battery Company Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Oxis Energy Ltd
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Samsung SDI Co. Ltd.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers