Battery Market Size, Share & Trends Analysis growing at a CAGR of 16.4% from 2025 to 2030
The global battery market size was estimated at USD 134.6 billion in 2024 and is projected to reach USD 329.84 billion by 2030, growing at a CAGR of 16.4% from 2025 to 2030. The increasing adoption of electric vehicles (EVs) is a significant factor driving the growth of the market.
Key Market Trends & Insights
- Asia Pacific battery market dominated globally in 2024 in terms of the largest revenue share of over 54.0%.
- The China battery market growth is attributed to a combination of government support, industrial policy, and technological innovation.
- Based on application, the market is segmented into automotive batteries, industrial batteries, and portable batteries.
- Based on type, the market is bifurcated into stationary and motive segments.
- Based on material, the market is segmented into lithium-ion, lead acid, nickel-based, small sealed lead-acid batteries, sodium-ion, flow batteries, and others.
Market Size & Forecast
- 2024 Market Size: USD 134.6 Billion
- 2030 Projected Market Size: USD 329.84 Billion
- CAGR (2025-2030): 16.4%
- Asia Pacific: Largest market in 2024
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In addition, the growing integration of renewable energy sources into power grids is anticipated to boost the demand for batteries over the forecast period. The intermittent nature of solar and wind energy requires efficient energy storage solutions to ensure a stable and reliable electricity supply. Batteries, especially those designed for grid storage, play a critical role in enabling the effective utilization of renewable energy. Technologies such as flow batteries and solid-state batteries are gaining traction in the renewable energy sector due to their scalability and durability, supporting the transition to a cleaner energy mix.
The expanding consumer electronics industry also fuels the demand for batteries. The proliferation of smartphones, laptops, wearable devices, and IoT-enabled gadgets is creating the need for compact, efficient, and long-lasting batteries. Lithium-ion technology continues to dominate this segment, but ongoing innovation is leading to the development of new chemistries, such as lithium-sulfur and zinc-air batteries, promising enhanced performance for next-generation electronics.
Moreover, the rise of industrial automation and the electrification of equipment is driving battery adoption in sectors such as manufacturing, logistics, and healthcare. Forklifts, robotics, drones, and medical devices increasingly rely on battery-powered solutions for greater efficiency and mobility. As industries shift towards cleaner and more flexible energy systems, the demand for industrial-grade batteries is growing rapidly, contributing to market expansion.
