Global High Voltage Batteries Market to Reach $223.7 Billion by 2030
The global market for High Voltage Batteries estimated at US$35.7 Billion in the year 2023, is expected to reach US$223.7 Billion by 2030, growing at a CAGR of 30% over the analysis period 2023-2030. 100-250 Miles Driving Range Batteries, one of the segments analyzed in the report, is expected to record a 27.1% CAGR and reach US$38.2 Billion by the end of the analysis period. Growth in the 251-400 Miles Driving Range Batteries segment is estimated at 27.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $9.1 Billion, While China is Forecast to Grow at 36.7% CAGR
The High Voltage Batteries market in the U.S. is estimated at US$9.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$64.4 Billion by the year 2030 trailing a CAGR of 36.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 23.1% and 26.4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 24.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$39 Billion by the year 2030.
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