Europe Battery Market Size (2024 - 2029)

The European battery market is experiencing significant growth, driven by factors such as the decreasing costs of lithium-ion batteries, the swift adoption of electric vehicles, the expanding renewable energy sector, and the rising sales of consumer electronics. Despite challenges like the demand-supply imbalance of raw materials, the market is poised for expansion, particularly in the logistics and distribution sectors, which present opportunities for lithium-ion batteries. Germany is anticipated to see notable growth, largely due to its burgeoning automotive industry.

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Market Size of Europe Battery Industry

Europe Battery Market Industry Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 13.44 %
Market Concentration Low

Major Players

Europe Battery Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Battery Market Analysis

Europe battery market is estimated to be at USD 23.34 billion by the end of this year and is projected to reach USD 43.84 billion in the next five years, registering a CAGR of 13.44% during the forecast period.

  • Over the medium term, major factors driving the market include declining lithium-ion battery prices, rapid adoption of electric vehicles, growing renewable sector, and increased sale of consumer electronics.
  • On the other hand, the demand-supply mismatch of raw materials will likely hinder market growth during the forecast period.
  • Nevertheless, the increasing demand for the fast delivery of products pushed for improvements in the logistics and distribution business in the European region will likely provide ample opportunities for Li-ion batteries in the material handling industry in the coming years.
  • Germany is expected to witness significant growth during the forecast years due to the increasing automotive industry during forecast period.

Europe Battery Industry Segmentation

A battery is a device that converts chemical energy contained within its active materials directly into electric energy by means of an electrochemical oxidation-reduction (redox) reaction.

European battery market is segmented by type, technology, application, and geography. By type, the market is segmented into primary batteries and secondary batteries. By technology, the market is segmented into lead-acid batteries, lithium-ion batteries, and other technologies. By application, the market is segmented into automotive batteries (HEV, PHEV, and EV), industrial batteries (motive, stationary (telecom, UPS, energy storage systems (ESS)), etc.), consumer electronics, and others. The report also covers the market size and forecasts for the battery market across major countries such as United Kingdom, Germany, France and Rest of Europe in the region. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

Type
Primary Battery
Secondary Battery
Technology
Lead-Acid Battery
Lithium-Ion Battery
Other Technologies
Application
Automotive (HEV, PHEV, and EV)
Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.))
Consumer Electronics
Other Applications
Geography
United Kingdom
Germany
France
Rest of Europe
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Europe Battery Market Size Summary

The European battery market is poised for substantial growth, driven by several key factors such as the declining costs of lithium-ion batteries, the rapid adoption of electric vehicles, and the expanding renewable energy sector. The increasing sales of consumer electronics also contribute to this upward trend. However, challenges such as the demand-supply mismatch of raw materials could impede market expansion. Despite these challenges, the logistics and distribution improvements in Europe are expected to create significant opportunities for lithium-ion batteries, particularly in the material handling industry. Germany is anticipated to experience notable growth due to its robust automotive industry, which is increasingly shifting towards electric vehicles.

The automotive sector is projected to be a major end-user of lithium-ion batteries, with the penetration of electric vehicles providing a significant boost to the industry. Europe, as a leader in promoting the shift from internal combustion vehicles to electric vehicles, has seen substantial growth in this area. Initiatives like the construction of battery factories in France and Sweden underscore the region's commitment to enhancing its battery manufacturing capabilities. Germany, in particular, is attracting investments to develop lithium-ion battery facilities, supported by government policies and incentives. The country's focus on renewable energy, alongside its strong automotive sector, is expected to drive significant battery demand in the coming years. The European battery market remains fragmented, with numerous players actively investing in production facilities to meet the growing demand.

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Europe Battery Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Declining Lithium-ion Battery Prices

        2. 1.5.1.2 Rapid Adoption of Electric Vehicles

      2. 1.5.2 Restraints

        1. 1.5.2.1 The Demand-Supply Mismatch of Raw Materials

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION AND ANALYSIS

    1. 2.1 Type

      1. 2.1.1 Primary Battery

      2. 2.1.2 Secondary Battery

    2. 2.2 Technology

      1. 2.2.1 Lead-Acid Battery

      2. 2.2.2 Lithium-Ion Battery

      3. 2.2.3 Other Technologies

    3. 2.3 Application

      1. 2.3.1 Automotive (HEV, PHEV, and EV)

      2. 2.3.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.))

      3. 2.3.3 Consumer Electronics

      4. 2.3.4 Other Applications

    4. 2.4 Geography

      1. 2.4.1 United Kingdom

      2. 2.4.2 Germany

      3. 2.4.3 France

      4. 2.4.4 Rest of Europe

Europe Battery Market Size FAQs

The Europe Battery Market is projected to register a CAGR of 13.44% during the forecast period (2024-2029)

Saft Groupe SA, FIAMM SpA, BYD Co Ltd, Contemporary Amperex Technology Co. Ltd and Tesla Inc. are the major companies operating in the Europe Battery Market.

Europe Battery Market Report Snapshots

European Battery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)