North Europe Battery Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The North Europe battery market is expected to grow at a CAGR of more than 14.5% during the forecast period. Factors such as supportive government policies for renewable energy and electric vehicle and its charging infrastructure projects are expected to stimulate market growth. The battery market in North Europe is mainly driven by surging transportation needs, increasing battery integration in consumer electronics, and rising fuel-saving initiatives. However, the supply-demand gap of raw material such as cobalt which is essential for the Li-ion battery is likely to hinder the growth of the market during the forecast period.
Key HighlightsThe North Europe battery market is moderately consolidated. Some of the key players in the market include Northvolt AB, Clayton Power, Broadbit Batteries Oy, Geyser Batteries Oy, and Micropower Group AB.
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