Battery Plate Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Battery Plate Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Battery Plate Market

The battery plate market size was reached at a value of USD 2.43 billion in 2023, and the market is now projected to rise from USD 2.41 billion in 2024 to USD 9.63 billion by 2032, exhibiting a CAGR of 16.63% during the forecast period of 2023-2030.

Covid-19 pandemic has hindered the supply chain and restricted the people to their homes which has lowered the buying of automobiles. Lockdown enacted in numerous nations have hindered the manufacturing and caused transportation delays. In addition, worldwide restrictions have caused a halt in economic activities. Despite the challenges of covid pandemic, the battery plate sector has proven to be robust. Although the construction of electric vehicle has been delayed due to shortage of man power and procurement concerns of raw material.

Growing penetration of energy storage and increased battery cell production is propelling market growth. To effectively shift to renewable energy, battery energy storage to crucial due to the intermittent nature of solar and wind electricity. These systems must efficiently store and distribute energy from renewable sources to meet peak production and consumption cycles fueling battery plate market growth. Government subsidies, regulatory regulations and corporate investments all help to promote market expansion.

Additionally, due to dramatic reduction in cost propel the market growth amid electrification boom. The cost of lithium-ion battery used in laptops or phones has plummeted drastically during forecast period and significantly contributed to the rapid development of battery plate technology market.

Comprehensive Analysis of Battery Plate Market

The battery plate market is rising with an exponential rate due to its market segmentation. This market expansion effectively provides a detailed geographical assessment considering the dominant supply and demand forces that impact the automotive benefit management industry. These segmentations are methodically divided by types of battery and by end users. The types of Battery segment include Lead Acid Battery, Lithium Ion Battery, and Others, while By End-user segment include Automotive, Aerospace & Defense, and Others.

In the battery plate market, Asia Pacific region lead the automotive devices market with a market size of USD 1.52 billion in 2023 owing to increased battery cell production and growing penetration of energy storage and increased lithium-ion battery production.

The prominent players in the market play a crucial role in the automotive industry assuring industrial prospectus growth and setting market standards. These players include, Amara Raja Batteries Limited (India), CSB Energy Technology Co. Ltd. (U.S.), Enersys (U.S.), Exide Technologies (U.S.), G.S. Yuasa (Japan), Kijo Battery Group (China), Microvast Holding Inc. (U.S.), Toshiba Corporation (Japan), Crown Battery (U.S.) and Fiamm Energy Storage Solutions SpA (Italy) these prominent market players provide a level-playing competitive landscape.

In September 2023, Exide Technologies invested in its subsidiary, Exide Energy Solutions Ltd. Which manufacturers sophisticated chemical battery cells. The company sophisticated chemistry and form factor batteries including but not limited to shapeless which can also be manufacturer assembled and sold, as well as many ancillary actions.

Segmentation Table

Attribute Details

Study Period 2019-2032

Base Year 2023

Estimated Year 2023

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 16.63% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Battery Type, End-user, and Region

Segmentation By Battery Type

Lithium Ion Battery

Lead Acid Battery

Others

By End-user

Automotive

Aerospace & Defense

Others

By Region

North America (By Battery Type, End-user, and Country)

- U.S. (By End-user)

- Canada (By End-user)

Europe (By Battery Type, End-user, and Country)

- U.K. (By End-user)

- Germany (By End-user)

- Denmark (By End-user)

- France (By End-user)

- Italy (By End-user)

- Sweden (By End-user)

- Russia (By End-user)

- Rest of Europe (By End-user)

Asia Pacific (By Battery Type, End-user, and Country)

- China (By End-user)

- Japan (By End-user)

- India (By End-user)

- Australia (By End-user)

- Southeast Asia (By End-user)

- Rest of Asia Pacific (By End-user)

Latin America (By Battery Type, End-user, and Country)

- Brazil (By End-user)

- Mexico (By End-user)

- Rest of Latin America (By End-user)

Middle East & Africa (By Battery Type, End-user, and Country)

- GCC (By End-user)

- South Africa (By End-user)

- Rest of the Middle East & Africa (By End-user)


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