Global New Battery Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global New Battery Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

New batteries refer to zinc-silver batteries, lithium batteries, solar batteries, etc. Since the Second World War, in order to meet the development needs of new technologies such as industry and space navigation, a variety of new batteries have been developed.

Market Overview:

The latest research study on the global New Battery market finds that the global New Battery market reached a value of USD 2254526.79 million in 2023. It’s expected that the market will achieve USD 6746503.98 million by 2029, exhibiting a CAGR of 20.04% during the forecast period.

Global energy storage battery market to accelerate growth

In the past few years, major developed countries in the world have begun to try to apply electrochemical energy storage technology on a large scale; in the next ten years, electrochemical energy storage will show a trend of accelerated growth worldwide. According to TrendForce data, the world will add 20.5GW/42.1GWh of newly installed energy storage capacity in 2022, a year-on-year increase of 86%/80%. The global energy storage market continues to develop steadily. Although the installed capacity of new energy storage technology in the power system is still small at this stage, the development speed is accelerating and the development potential is huge.

Policy support creates good market opportunities for energy storage development

In recent years, various countries have introduced supporting policies to promote the development of the energy storage industry, creating good market opportunities for large-scale commercial applications of energy storage. The policies related to the development of energy storage in various countries mainly focus on the following aspects: In countries or regions where energy storage has not yet been promoted or has just started, the development of energy storage has gradually been included in the national strategic plan, and the government has begun to formulate a roadmap for the development of energy storage; In countries or regions with a certain scale or relatively developed industries, the government often adopts tax incentives or subsidies to promote energy storage cost reduction and large-scale application; in countries or regions where energy storage is gradually participating in the auxiliary service market, the government adopts open The regional power market creates a platform for energy storage applications to realize multiple values and provide high-quality services.

Region Overview:

China had the highest growth rate of all regions.
In 2022, the share of the New Battery market in China stood at 68.17%.

Company Overview:

CATL,BYD,LG Chem were the top 3 players in the New Battery market in 2023, taking up a market share of 60.73% together.
The major players operating in the New Battery market include CATL,BYD,LG Chem, SAMSUNG and Panasonic, etc. Among which, CATL ranked top in terms of sales and revenue in 2023.

Segmentation Overview:

The lithium battery segment by type showed a value growth of X3.3% in 2022.
By type, lithium battery segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Power grid side energy storage segment occupied the biggest share from 2018 to 2022.

Key Companies in the global New Battery market covered in Chapter 3:

BYD
ATL
SAMSUNG
GOTION
CATL
EVE Energy Co., Ltd
LG Chem
PYLONTECH
REPT BATTERO Energy Co., Ltd
CALB
Panasonic

In Chapter 4 and Chapter 14.2, on the basis of types, the New Battery market from 2019 to 2030 is primarily split into:

Nickel hydrogen battery
Nickel cadmium battery
Nickel zinc battery
Lithium battery
Sodium sulfur battery
Sodium ion battery
Liquid flow battery
NiMH battery
Metal air battery

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the New Battery market from 2019 to 2030 covers:

Power-side energy storage
Power grid side energy storage
User side energy storage

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)