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Global market value of batteries for industrial applications 2023-2031, by chemistry

Published by Statista Research Department, Feb 16, 2024

With a market value of some 9.9 billion U.S. dollars, lead acid batteries dominated the global industrial battery market in 2023. Lithium-based batteries followed, with a market of 5.6 billion U.S. dollars that year. The market value of both battery types is expected to grow in the upcoming years, reaching 15.9 and 10.5 billion U.S. dollars by 2031, respectively. The European industrial battery market is forecast to follow a similar trend over the same period of time.

More information on the global industrial battery market can be found here.

Market value of batteries for industrial applications worldwide in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars)

Characteristic	Lead Acid	Lithium-Based	Others
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-

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Release date

February 2024

More information

Region

Worldwide

Survey time period

2023

Supplementary notes

* Forecast based on a CAGR of 8.25 percent for lithium-based batteries, 6.22 percent for lead acid batteries, and 8.30 percent for other batteries in the period from 2024 to 2031.

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