Rechargeable Battery Market
PUBLISHED: 2024 ID: SMRC27253
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Rechargeable Battery Market

Rechargeable Battery Market Forecasts to 2030 - Global Analysis By Battery Type (Lithium-ion (Li-ion) Batteries, Lead-acid Batteries, Nickel-Cadmium (NiCd) Batteries, Nickel-Metal Hydride (NiMH) Batteries, Sodium-based Batteries, Solid-state Batteries and Other Battery Types), Material, Capacity, Application and By Geography

4.1 (34 reviews)
4.1 (34 reviews)
Published: 2024 ID: SMRC27253

This report covers the impact of COVID-19 on this global market
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Years Covered

2022-2030

Estimated Year Value (2024)

US $94.28 BN

Projected Year Value (2030)

US $152.43 BN

CAGR (2024 - 2030)

6.2%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Rechargeable Battery Market is accounted for $94.28 billion in 2024 and is expected to reach $152.43 billion by 2030 growing at a CAGR of 6.2% during the forecast period. A rechargeable battery is a type of energy storage device that can be used multiple times by recharging it after its energy is depleted. Rechargeable batteries store electrical energy through reversible chemical reactions. They are widely used in various applications such as consumer electronics, electric vehicles, and renewable energy systems due to their ability to be recharged and reused, thus reducing waste and offering cost-effectiveness over time.

According to International Energy Agency, the demand for lithium-ion batteries in the automotive sector grew by about 65% in 2022.

Market Dynamics: 

Driver: 

Rising adoption of renewable energy

As solar and wind power generation are intermittent, rechargeable batteries are essential to store excess energy for later use, ensuring a stable power supply. They are used in grid-scale storage systems, residential energy solutions, and electric vehicles. Additionally, the shift toward renewable energy has accelerated the development of advanced battery technologies, such as lithium-ion and solid-state batteries, which offer higher efficiency and longer life cycles, further propelling market growth.

Restraint:

Limited recycling infrastructure

The limited recycling infrastructure for rechargeable batteries stems from the complexity of battery composition, involving hazardous materials like lithium, cobalt, and nickel, which require specialized processes to safely recycle. Additionally, inconsistent regulations and high recycling costs discourage investment in large-scale facilities. This shortage of proper recycling systems hampers market growth by increasing environmental concerns, regulatory pressures, and supply chain disruptions.

Opportunity:

Increasing demand for portable electronics

Portable electronics require efficient, long-lasting power sources, making rechargeable batteries like lithium-ion the preferred choice due to their high energy density and extended lifespan. As consumer electronics become more advanced and power-intensive, the need for reliable energy storage solutions rises. Additionally, the growing trend of wireless and compact devices further boosts the demand for rechargeable batteries, leading to market expansion as manufacturers innovate to meet evolving energy requirements.

Threat:

Raw material supply constraints

Raw material supply constraints in the rechargeable battery arise due to limited availability of key materials like lithium, cobalt, and nickel. These elements are critical for battery production, yet their supply is concentrated in a few countries, leading to geopolitical risks, mining challenges, and environmental concerns. These supply issues raise production costs, slow down manufacturing, and limit the scalability of battery technologies, thus hampering overall market growth.

Covid-19 Impact

The covid-19 pandemic disrupted the rechargeable battery market through supply chain interruptions, reduced manufacturing output, and logistical challenges. However, it also accelerated the shift towards remote work and increased reliance on portable electronics, boosting battery demand. The crisis highlighted the need for more resilient supply chains and sparked innovation in battery technology. Post-pandemic recovery has seen a rebound in demand, driven by the growing adoption of electric vehicles and renewable energy solutions.

The lead-acid batteries segment is expected to be the largest during the forecast period

The lead-acid batteries segment is estimated to be the largest share during the forecast period. Lead-acid rechargeable batteries are a well-established energy storage technology, commonly used in automotive, industrial, and backup power applications. These batteries consist of lead-based electrodes and sulfuric acid as an electrolyte, offering reliable performance, cost-effectiveness, and durability. They are widely used in vehicles, renewable energy systems, and uninterruptible power supplies (UPS) for critical systems.

The automotive segment is expected to have the highest CAGR during the forecast period

The automotive segment is anticipated to witness the highest CAGR during the forecast period. Rechargeable batteries play a crucial role in automotive applications, particularly in electric vehicles (EVs), hybrids, and plug-in hybrids. These batteries enables cleaner and more sustainable transportation. Their ability to be recharged multiple times extends vehicle range and performance, while innovations in battery technology improve energy density, charging speed, and lifespan. Rechargeable batteries are vital for reducing emissions and advancing the shift towards electric mobility in the automotive industry.

Region with largest share:

Asia Pacific is expected to have the largest market share during the forecast period due to increasing consumer electronics usage, expanding electric vehicle (EV) adoption, and growing investments in renewable energy storage. Key markets such as China, Japan, and South Korea are leading in battery production and technology innovation. The region's robust manufacturing capabilities, coupled with supportive government policies and a rising middle class, further stimulate market expansion. Advancements in battery technology and infrastructure development continue to enhance the market's growth prospects.

Region with highest CAGR:

North America is projected to witness the highest CAGR over the forecast period, owing to ising adoption of electric vehicles (EVs), increasing demand for portable electronics, and growing investments in renewable energy storage. The United States and Canada are key players, with strong emphasis on technological innovation and manufacturing capabilities. Government incentives for clean energy and advancements in battery technologies, such as lithium-ion and solid-state batteries, are driving market growth. Additionally, the push towards sustainability and energy efficiency further fuels the demand for rechargeable batteries in the region.

Key players in the market

Some of the key players profiled in the Rechargeable Battery Market include Panasonic Corporation, LG Chem Corporation, Samsung Corporation, BYD Company Limited, Contemporary Amperex Technology Co. Limited (CATL), Tesla Inc., Sony Corporation, A123 Systems, GS Yuasa Corporation, Saft Groupe S.A., Toshiba Corporation, Hitachi Chemical Company, Johnson Controls, SK Innovation Corporation, EnerSys, KLVR and Shenzhen Yongxinlong New Energy Technology Corporation.

Key Developments:

In August 2024, KLVR has introduced a new rechargeable battery solution aimed at reducing the use of single-use batteries in media production and live performance industries. Their Charger Pro offers a “cost-effective, flexible solution” for recharging standard AA and AAA batteries used in wireless microphones, in-ear monitors and other professional audio devices. The system is designed to meet the specific power needs of professional environments where reliability is critical.

In April 2024, Shenzhen Yongxinlong New Energy Technology has launched lithium-ion rechargeable batteries for electric vehicles. It possesses high-rate discharge performance, as the capacity means the discharge capacity of the cell, which is measured with a discharge current of 0.2 C with a 2.5V cut-off voltage after standard charge. The cell shall be charged in accordance with the standard charging method. The cell shall be stored at a temperature of 55 +/- 2 °C for 7 days.

Battery Types Covered:
• Lithium-ion (Li-ion) Batteries
• Lead-acid Batteries
• Nickel-Cadmium (NiCd) Batteries
• Nickel-Metal Hydride (NiMH) Batteries
• Sodium-based Batteries
• Solid-state Batteries
• Other Battery Types

Materials Covered:
• Cathode Materials
• Anode Materials
• Electrolyte
• Separators
• Other Materials

Capacities Covered:
• Low (Up to 1,000 mAh)
• Medium (1,000 mAh – 5,000 mAh)
• High (Above 5,000 mAh)

Applications Covered:
• Consumer Electronics
• Automotive
• Energy Storage Systems (ESS)
• Industrial
• Medical Devices
• Defense & Aerospace
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary  
    
2 Preface   

 2.1 Abstract  
 2.2 Stake Holders 
 2.3 Research Scope 
 2.4 Research Methodology
  2.4.1 Data Mining
  2.4.2 Data Analysis
  2.4.3 Data Validation
  2.4.4 Research Approach
 2.5 Research Sources 
  2.5.1 Primary Research Sources
  2.5.2 Secondary Research Sources
  2.5.3 Assumptions
    
3 Market Trend Analysis 
 3.1 Introduction 
 3.2 Drivers  
 3.3 Restraints 
 3.4 Opportunities 
 3.5 Threats  
 3.6 Application Analysis
 3.7 Emerging Markets 
 3.8 Impact of Covid-19 
    
4 Porters Five Force Analysis 
 
4.1 Bargaining power of suppliers
 4.2 Bargaining power of buyers
 4.3 Threat of substitutes
 4.4 Threat of new entrants
 4.5 Competitive rivalry 
    
5 Global Rechargeable Battery Market, By Battery Type
 5.1 Introduction 
 5.2 Lithium-ion (Li-ion) Batteries
 5.3 Lead-acid Batteries 
 5.4 Nickel-Cadmium (NiCd) Batteries
 5.5 Nickel-Metal Hydride (NiMH) Batteries
 5.6 Sodium-based Batteries
 5.7 Solid-state Batteries
 5.8 Other Battery Types 
    
6 Global Rechargeable Battery Market, By Material
 6.1 Introduction 
 6.2 Cathode Materials 
 6.3 Anode Materials 
 6.4 Electrolyte 
 6.5 Separators 
 6.6 Other Materials 
    
7 Global Rechargeable Battery Market, By Capacity
 7.1 Introduction 
 7.2 Low (Up to 1,000 mAh)
 7.3 Medium (1,000 mAh – 5,000 mAh)
 7.4 High (Above 5,000 mAh)
    
8 Global Rechargeable Battery Market, By Application
 8.1 Introduction 
 8.2 Consumer Electronics
 8.3 Automotive 
 8.4 Energy Storage Systems (ESS)
 8.5 Industrial  
 8.6 Medical Devices 
 8.7 Defense & Aerospace
 8.8 Other Applications 
    
9 Global Rechargeable Battery Market, By Geography
 9.1 Introduction 
 9.2 North America 
  9.2.1 US 
  9.2.2 Canada 
  9.2.3 Mexico 
 9.3 Europe  
  9.3.1 Germany 
  9.3.2 UK 
  9.3.3 Italy 
  9.3.4 France 
  9.3.5 Spain 
  9.3.6 Rest of Europe
 9.4 Asia Pacific 
  9.4.1 Japan 
  9.4.2 China 
  9.4.3 India 
  9.4.4 Australia 
  9.4.5 New Zealand
  9.4.6 South Korea
  9.4.7 Rest of Asia Pacific
 9.5 South America 
  9.5.1 Argentina
  9.5.2 Brazil 
  9.5.3 Chile 
  9.5.4 Rest of South America
 9.6 Middle East & Africa
  9.6.1 Saudi Arabia
  9.6.2 UAE 
  9.6.3 Qatar 
  9.6.4 South Africa
  9.6.5 Rest of Middle East & Africa
    
10 Key Developments  
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
 10.2 Acquisitions & Mergers
 10.3 New Product Launch
 10.4 Expansions 
 10.5 Other Key Strategies
    
11 Company Profiling  
 11.1 Panasonic Corporation
 11.2 LG Chem Corporation
 11.3 Samsung Corporation
 11.4 BYD Company Limited
 11.5 Contemporary Amperex Technology Co. Limited (CATL)
 11.6 Tesla Inc.  
 11.7 Sony Corporation 
 11.8 A123 Systems 
 11.9 GS Yuasa Corporation
 11.10 Saft Groupe S.A. 
 11.11 Toshiba Corporation
 11.12 Hitachi Chemical Company
 11.13 Johnson Controls 
 11.14 SK Innovation Corporation
 11.15 EnerSys  
 11.16 KLVR  
 11.17 Shenzhen Yongxinlong New Energy Technology Corporation
    
List of Tables   
1 Global Rechargeable Battery Market Outlook, By Region (2022-2030) ($MN)
2 Global Rechargeable Battery Market Outlook, By Battery Type (2022-2030) ($MN)
3 Global Rechargeable Battery Market Outlook, By Lithium-ion (Li-ion) Batteries (2022-2030) ($MN)
4 Global Rechargeable Battery Market Outlook, By Lead-acid Batteries (2022-2030) ($MN)
5 Global Rechargeable Battery Market Outlook, By Nickel-Cadmium (NiCd) Batteries (2022-2030) ($MN)
6 Global Rechargeable Battery Market Outlook, By Nickel-Metal Hydride (NiMH) Batteries (2022-2030) ($MN)
7 Global Rechargeable Battery Market Outlook, By Sodium-based Batteries (2022-2030) ($MN)
8 Global Rechargeable Battery Market Outlook, By Solid-state Batteries (2022-2030) ($MN)
9 Global Rechargeable Battery Market Outlook, By Other Battery Types (2022-2030) ($MN)
10 Global Rechargeable Battery Market Outlook, By Material (2022-2030) ($MN)
11 Global Rechargeable Battery Market Outlook, By Cathode Materials (2022-2030) ($MN)
12 Global Rechargeable Battery Market Outlook, By Anode Materials (2022-2030) ($MN)
13 Global Rechargeable Battery Market Outlook, By Electrolyte (2022-2030) ($MN)
14 Global Rechargeable Battery Market Outlook, By Separators (2022-2030) ($MN)
15 Global Rechargeable Battery Market Outlook, By Other Materials (2022-2030) ($MN)
16 Global Rechargeable Battery Market Outlook, By Capacity (2022-2030) ($MN)
17 Global Rechargeable Battery Market Outlook, By Low (Up to 1,000 mAh) (2022-2030) ($MN)
18 Global Rechargeable Battery Market Outlook, By Medium (1,000 mAh – 5,000 mAh) (2022-2030) ($MN)
19 Global Rechargeable Battery Market Outlook, By High (Above 5,000 mAh) (2022-2030) ($MN)
20 Global Rechargeable Battery Market Outlook, By Application (2022-2030) ($MN)
21 Global Rechargeable Battery Market Outlook, By Consumer Electronics (2022-2030) ($MN)
22 Global Rechargeable Battery Market Outlook, By Automotive (2022-2030) ($MN)
23 Global Rechargeable Battery Market Outlook, By Energy Storage Systems (ESS) (2022-2030) ($MN)
24 Global Rechargeable Battery Market Outlook, By Industrial (2022-2030) ($MN)
25 Global Rechargeable Battery Market Outlook, By Medical Devices (2022-2030) ($MN)
26 Global Rechargeable Battery Market Outlook, By Defense & Aerospace (2022-2030) ($MN)
27 Global Rechargeable Battery Market Outlook, By Other Applications (2022-2030) ($MN)
    
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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