Battery Market Size, Share, Trends, Industry Analysis Report By Type (Lead Acid, Lithium-Ion), By End Use, By Region – Market Forecast, 2025–2034
Description
The battery market size is expected to reach USD 405.83 billion by 2034, according to a new study by Polaris Market Research. The report “Battery Market Size, Share, Trends, Industry Analysis Report By Type (Lead Acid, Lithium-Ion), By End Use, By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
A battery is a device that stores chemical energy and converts it into electrical energy when needed. It consists of one or more cells, each containing electrodes and an electrolyte that enable the flow of electric current. Batteries power a wide range of devices, from small electronics such as phones to large systems such as electric vehicles and energy grid.
Industries, data centers, and commercial buildings require constant power to avoid disruptions. Batteries are now widely used for backup power solutions such as Uninterruptible Power Supplies (UPS), especially in areas prone to outages. The importance of reliable backup systems grows as digital infrastructure and automation increase. Batteries offer a silent, low-maintenance alternative to diesel generators, making them preferable in urban or indoor settings. Industrial demand for robust and scalable battery systems is accelerating with the rise in remote working, cloud computing, and digital services, pushing the market forward.
Battery technologies have advanced rapidly in recent years. Innovations in chemistry, energy density, charge speed, and thermal management have significantly improved battery performance and safety. At the same time, mass production and better supply chains have helped reduce the cost of batteries, especially lithium-ion types. This cost drop has made batteries more accessible for electric vehicles (EVs), energy storage, and consumer electronics. New technologies such as solid-state batteries is emerging, and promising even better performance, affordability, and lifespan, fueling the market growth even faster due to broader adoption.
Battery Market Report Highlights
The lead acid battery segment is anticipated to register a CAGR of 9.5% during the forecast period, driven by its affordability, high recyclability, and reliable performance across various applications.
In 2024, the consumer electronics segment accounted for 10.57% of total revenue, supported by the surging demand for smartphones, laptops, tablets, and wearable devices, all of which rely heavily on efficient battery technology.
Asia Pacific dominated the global battery market share in 2024, contributing 47.60% of the total revenue share. The dominance is propelled by robust manufacturing infrastructure, growing adoption of electric vehicles, and widespread consumer electronics usage.
The North American battery market is projected to expand at a CAGR of 9.0% during the forecast period, supported by the increasing uptake of electric vehicles, energy storage solutions, and connected smart devices.
A few global key market players are Samsung; BYD; Sony; LG Chem; Sanyo; ATLASBX Co. Ltd.; Johnson Controls; Exide Technologies; NorthStar; East Penn Manufacturing Co.; Crown Battery Manufacturing; GS Yuasa Corp; C&D Technologies, Inc.; and Leoch International Technology Ltd.
Polaris Market Research has segmented the battery market report based on type, end use, and region:
By Type (Revenue – USD Billion, 2020–2034)
Lead Acid
Lithium-Ion
Nickel Metal Hydride
Nickel Cadmium
Others
By End Use (Revenue – USD Billion, 2020–2034)
Automotive
Industrial
Consumer Goods
Others
By Regional Outlook (Revenue – USD Billion, 2020–2034)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa
A battery is a device that stores chemical energy and converts it into electrical energy when needed. It consists of one or more cells, each containing electrodes and an electrolyte that enable the flow of electric current. Batteries power a wide range of devices, from small electronics such as phones to large systems such as electric vehicles and energy grid.
Industries, data centers, and commercial buildings require constant power to avoid disruptions. Batteries are now widely used for backup power solutions such as Uninterruptible Power Supplies (UPS), especially in areas prone to outages. The importance of reliable backup systems grows as digital infrastructure and automation increase. Batteries offer a silent, low-maintenance alternative to diesel generators, making them preferable in urban or indoor settings. Industrial demand for robust and scalable battery systems is accelerating with the rise in remote working, cloud computing, and digital services, pushing the market forward.
Battery technologies have advanced rapidly in recent years. Innovations in chemistry, energy density, charge speed, and thermal management have significantly improved battery performance and safety. At the same time, mass production and better supply chains have helped reduce the cost of batteries, especially lithium-ion types. This cost drop has made batteries more accessible for electric vehicles (EVs), energy storage, and consumer electronics. New technologies such as solid-state batteries is emerging, and promising even better performance, affordability, and lifespan, fueling the market growth even faster due to broader adoption.
Battery Market Report Highlights
The lead acid battery segment is anticipated to register a CAGR of 9.5% during the forecast period, driven by its affordability, high recyclability, and reliable performance across various applications.
In 2024, the consumer electronics segment accounted for 10.57% of total revenue, supported by the surging demand for smartphones, laptops, tablets, and wearable devices, all of which rely heavily on efficient battery technology.
Asia Pacific dominated the global battery market share in 2024, contributing 47.60% of the total revenue share. The dominance is propelled by robust manufacturing infrastructure, growing adoption of electric vehicles, and widespread consumer electronics usage.
The North American battery market is projected to expand at a CAGR of 9.0% during the forecast period, supported by the increasing uptake of electric vehicles, energy storage solutions, and connected smart devices.
A few global key market players are Samsung; BYD; Sony; LG Chem; Sanyo; ATLASBX Co. Ltd.; Johnson Controls; Exide Technologies; NorthStar; East Penn Manufacturing Co.; Crown Battery Manufacturing; GS Yuasa Corp; C&D Technologies, Inc.; and Leoch International Technology Ltd.
Polaris Market Research has segmented the battery market report based on type, end use, and region:
By Type (Revenue – USD Billion, 2020–2034)
Lead Acid
Lithium-Ion
Nickel Metal Hydride
Nickel Cadmium
Others
By End Use (Revenue – USD Billion, 2020–2034)
Automotive
Industrial
Consumer Goods
Others
By Regional Outlook (Revenue – USD Billion, 2020–2034)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of Asia Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of Middle East & Africa
Table of Contents
122 Pages
- Chapter 1. Introduction
- 1.1 Report Description
- 1.1.1 Objectives of the Study
- 1.1.2 Market Scope
- 1.1.3 Assumptions
- 1.2 Stakeholders
- Chapter 2. Executive Summary
- 2.1 Market Highlights
- Chapter 3. Research Methodology
- 3.1 Overview
- 3.1.1 Data Mining
- 3.2 Data Sources
- 3.2.1 Primary Sources
- 3.2.2 Secondary Sources
- Chapter 4. Battery Market Insights
- 4.1 Battery – Industry snapshot
- 4.2 Battery Market Dynamics
- 4.2.1 Drivers and Opportunities
- 4.2.1.1 Growing demand for UPS systems
- 4.2.1.2 Rising usage in automotive industrial industry
- 4.2.1.3 Growing automotive sector
- 4.2.1.4 Growing demand for energy storage systems
- 4.2.1.5 Rising demand for lithium ion battery
- 4.2.2 Restraints and Challenges
- 4.2.2.1 Fluctuating Raw Material Prices
- 4.3 Porter’s Five Forces Analysis
- 4.4 PESTEL Analysis
- 4.5 Battery Market - Value Chain
- 4.1 Industry Trends
- Chapter 5. Battery Market Assessment by Type
- 5.1 Introduction
- 5.2 Lead Acid
- 5.3 Lithium-Ion
- 5.4 Nickel Metal Hydride
- 5.5 Nickel Cadmium
- 5.6 Other Types
- Chapter 6. Battery Market Assessment by End-Use
- 6.1 Introduction
- 6.2 Automotive
- 6.3 Industrial
- 6.4 Consumer Goods
- 6.5 Other End-Uses
- Chapter 7. Battery Market Assessment by Geography
- 7.1 Introduction
- 7.2 Battery Market – North America
- 7.2.1 Battery Market – U.S.
- 7.2.2 Battery Market – Canada
- 7.2.3 Battery Market – Mexico
- 7.3 Battery Market – Europe
- 7.3.1 Battery Market – Germany
- 7.3.2 Battery Market – UK
- 7.3.3 Battery Market – France
- 7.3.4 Battery Market – Italy
- 7.4 Battery Market – Asia Pacific
- 7.4.1 Battery Market – China
- 7.4.2 Battery Market – India
- 7.4.3 Battery Market – Japan
- 7.5 Battery Market – Latin America
- 7.5.1 Battery Market – Brazil
- 7.6 Battery Market – Middle East & Africa
- Chapter 8. Competitive Landscape
- 8.1 Product Launch is the Best Adopted Strategy by the Companies
- 8.2 Product Launch
- 8.3 Partnerships/Collaborations/Agreements/Exhibitions
- Chapter 9. The Company Profiles
- 9.1 BYD Company Limited
- 9.1.1 Business Overview
- 9.1.2 Financial Snapshot
- 9.1.3 Products and Services
- 9.1.4 Recent Developments
- 9.2 Duracell
- 9.2.1 Business Overview
- 9.2.2 Financial Snapshot
- 9.2.3 Products and Services
- 9.2.4 Recent Developments
- 9.3 Eveready Industries
- 9.3.1 Business Overview
- 9.3.2 Financial Snapshot
- 9.3.3 Products and Services
- 9.3.4 Recent Developments
- 9.4 Johnson Controls
- 9.4.1 Business Overview
- 9.4.2 Financial Snapshot
- 9.4.3 Products and Services
- 9.4.4 Recent Developments
- 9.5 Exide Technologies
- 9.5.1 Business Overview
- 9.5.2 Financial Snapshot
- 9.5.3 Products and Services
- 9.5.4 Recent Developments
- 9.6 LG Chem Limited
- 9.6.1 Business Overview
- 9.6.2 Financial Snapshot
- 9.6.3 Products and Services
- 9.6.4 Recent Developments
- 9.7 Sony Corporation
- 9.7.1 Business Overview
- 9.7.2 Financial Snapshot
- 9.7.3 Products and Services
- 9.7.4 Recent Developments
- 9.8 NEC Corporation
- 9.8.1 Business Overview
- 9.8.2 Financial Snapshot
- 9.8.3 Products and Services
- 9.8.4 Recent Developments
- 9.9 Panasonic Corporation
- 9.9.1 Business Overview
- 9.9.2 Financial Snapshot
- 9.9.3 Products and Services
- 9.9.4 Recent Developments
- 9.10 Toshiba Corporation
- 9.10.1 Business Overview
- 9.10.2 Financial Snapshot
- 9.10.3 Products and Services
- 9.10.4 Recent Developments
- 9.11 Samsung SDI Company Limited
- 9.11.1 Business Overview
- 9.11.2 Financial Snapshot
- 9.11.3 Products and Services
- 9.11.4 Recent Developments
- 9.12 EnerSys
- 9.12.1 Business Overview
- 9.12.2 Financial Snapshot
- 9.12.3 Products and Services
- 9.12.4 Recent Developments
Pricing
Currency Rates
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