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1 Market Overview
1.1 Definition and presentation
The term battery refers to adevice consisting of one or more electrochemical cells and used to power energy devices. Batteries are used par operate most everyday objects such as cell phones, cars, computers, andwatches. There are different types of batteries on the market, distinguished by type, primary and secondary, by application, by size, power and more. The batteries that dominate the global market are lithium-ion battery, accounting for 38.32 percent of total revenues globally, including its variants, and lead-acid battery, accounting for 48.87 percent.
The battery market covers a wide range of activities from manufacturing to distribution and supply of energy storage devices, which are essential for various applications. From consumer electronics and automotive vehicles to renewable energy storage and industrial use, batteries play a crucial role in supporting global energy demand. With growth expected to soar, this market is driven by the increased use of UPS (Uninterruptible Power Supply) equipment in key industries such as healthcare, oil and gas, and the chemical industry. The future of the industry is marked by competition between lead-acid batteries, prized for their reliability and low cost, and lithium-ion batteries, expected to gain market share due to their efficiency and light weight. In particular, the favorable policy environment and growing demand for consumer electronics and electric vehicles are accelerating the expansion of the market, with global growth forecast to see the industry grow from US$146.20 billion in 2024 to about US$679 billion by 2034.
In Europe, the battery industry is experiencing strong growth, with Germany leading the way thanks to the key role of its automotive industry. In Italy, the industry has shown signs of recovery after an initial decline due to the pandemic, registering a significant increase in active companies and growing demand fueled by the expansion of electric vehicles and renewable energy. The battery market in Italy, identified by ATECO code 27.20, is expected to continue to grow thanks to investments in innovation and sustainability, further solidifying the role of lithium-ion batteries as the technology of the future for the European and global markets.
List of charts presented in this market study
- Global battery market value
- Battery market composition (by region)
- Size of the European battery market
- Value of sales - Manufacture of batteries of batteries and electric accumulators
- Production value - Manufacture of batteries of electric batteries and accumulators
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Latest news
a new kind of battery capable, he claims, of powering aircraft - 20/04/2023
- CATL's new battery has an energy density of 500 Wh/kg, twice that of the current "Qilin" model, which has an energy density of 255 Wh/kg.
- The "Qilin" battery can propel an electric vehicle 1,000 km on a single charge. The technology used is called "condensed matter battery", and increases the efficiency of lithium-ion without compromising its safety.
- CATL will be launching mass production for the automotive market this year.
- The aviation version of the new battery will be ten times more expensive than the automotive version.
Electric cars: China dominates the battery market - 29/01/2023
- CATL's first investment outside China 1.8 billion euros invested
- Production of lithium-ion battery cells in Erfurt, Germany
- 7 billion investment in second battery plant in Hungary
- Batteries account for around 40% of the value of an electric vehicle
- China now exports more cars than Germany
Batteries: Chinese giant CATL takes advantage of the electric car boom. - 23/06/2022
- The world leader in lithium-ion batteries and supplier to Tesla has raised 45 billion yuan (6.4 billion euros) through a private placement.
- It is neck and neck with South Korea's LG Energy Solution.
- CATL occupies nearly 30% of the world market and more than half of the market in China, giving it powerful economies of scale.
- CATL's market capitalization now approaches 180 billion euros.
- CATL set a new record in December, with a market capitalization of 240 billion euros.
Chinese giant CATL is riding the electric car wave. - 23/06/2022
- CATL, has raised 45 billion yuan (6.4 billion euros) through a private placement with institutional investors.
- The Chinese battery giant is riding the electric vehicle boom.
- CATL reaches a record high in December with a capitalization of 240 billion euros.
- LG Energy Solution raises $10.7 billion in January.
- BYD raises $1.8 billion in Hong Kong in October.
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the battery market | Italy
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