Global Secondary Battery Market Size Study, by Type, by Application, by Industry Vertical, and Regional Forecasts 2022-2032

Description

Global Secondary Battery Market is valued approximately at USD 106.18 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 9.8% over the forecast period 2024-2032. Secondary batteries, often known as rechargeable batteries or storage batteries, are designed to be recharged and used multiple times. These batteries are critical in a variety of applications, from powering portable devices to supporting the growing electric vehicle industry and renewable energy storage solutions. The ability to recharge and reuse secondary batteries offers significant advantages in terms of cost efficiency, environmental impact, and energy sustainability, making them increasingly vital in a world moving towards green energy solutions.

The rise in demand for electric vehicles and renewable energy storage systems is propelling the secondary battery market. Electric vehicles rely heavily on high-energy-density batteries, particularly lithium-ion batteries, which are noted for their long life cycles and efficiency. Moreover, renewable energy systems, such as solar and wind power installations, depend on reliable battery storage to manage energy supply and demand effectively. As a result, the growing adoption of these technologies is driving substantial demand for secondary batteries. For instance, the International Energy Agency (IEA) reported a significant increase in electric vehicle sales, which rose by 40% in 2020, highlighting the accelerating shift towards electric mobility. Technological advancements in battery chemistry and design are also contributing to market growth. Innovations such as solid-state batteries and improvements in lithium-ion technology are enhancing the performance, safety, and cost-effectiveness of secondary batteries. These advancements are expanding the application scope of secondary batteries, further boosting their market potential. However, challenges such as high initial investment costs and environmental concerns related to raw material extraction and battery disposal are restraining market growth. Efforts to improve recycling processes and develop more sustainable battery technologies are essential to address these issues.

The key regions considered for the Global Secondary Battery Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Regionally, Asia-Pacific dominates the secondary battery market, driven by high demand from the automotive and electronics sectors in countries like China, Japan, and South Korea. The region's robust manufacturing base and significant investments in electric vehicle infrastructure and renewable energy projects are key factors supporting market growth. In contrast, North America is witnessing fastest growth, driven by increasing environmental awareness and supportive government policies promoting clean energy solutions.

Major market player included in this report are:

Panasonic Corporation
LG Chem
Samsung SDI Co., Ltd.
BYD Company Ltd.
Amperex Technologies
Hitachi High-Tech India Private Limited
Johnson Controls
Energizer Holdings Inc.
Aquion Energy LLC
BTI
Tesla Inc.
A123 Systems LLC
Exide Technologies
Saft Groupe S.A.
Envision AESC Group Ltd.

The detailed segments and sub-segment of the market are explained below:

By Type:

Lead Acid
Lithium-ion
Nickel Metal Hydride
Others

By Application:

Electronics
Motor Vehicles
Industrial Batteries
Portable Devices
Others

By Industry Vertical:

Chemical and Petrochemical
Oil and Gas
Energy and Power
Automotive
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Secondary Battery Market Executive Summary

1.1. Global Secondary Battery Market Size & Forecast (2022- 2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Application
- 1.3.3. By Industry Vertical
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Secondary Battery Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Secondary Battery Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing demand for rechargeable batteries
- 3.1.2. Adoption of electric vehicles
- 3.1.3. Growth in renewable energy storage solutions
3.2. Market Challenges
- 3.2.1. High initial investment and production costs
- 3.2.2. Environmental impact of battery production
3.3. Market Opportunities
- 3.3.1. Technological advancements in battery performance
- 3.3.2. Expanding applications in consumer electronics and automotive industries
- 3.3.3. Growing environmental awareness and regulatory support

Chapter 4. Global Secondary Battery Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Secondary Battery Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Secondary Battery Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Lead Acid
- 5.2.2. Lithium-ion
- 5.2.3. Nickel Metal Hydride
- 5.2.4. Others

Chapter 6. Global Secondary Battery Market Size & Forecasts by Application 2022-2032

6.1. Segment Dashboard
6.2. Global Secondary Battery Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Electronics
- 6.2.2. Motor Vehicles
- 6.2.3. Industrial Batteries
- 6.2.4. Portable Devices
- 6.2.5. Others

Chapter 7. Global Secondary Battery Market Size & Forecasts by Industry Vertical 2022-2032

7.1. Segment Dashboard
7.2. Global Secondary Battery Market: Industry Vertical Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Chemical and Petrochemical
- 7.2.2. Oil and Gas
- 7.2.3. Energy and Power
- 7.2.4. Automotive
- 7.2.5. Others

Chapter 8. Global Secondary Battery Market Size & Forecasts by Region 2022-2032

8.1. North America Secondary Battery Market
- 8.1.1. U.S. Secondary Battery Market
  - 8.1.1.1. Product Type breakdown size & forecasts, 2022-2032
  - 8.1.1.2. Application breakdown size & forecasts, 2022-2032
  - 8.1.1.3. Industry Vertical breakdown size & forecasts, 2022-2032
- 8.1.2. Canada Secondary Battery Market
  - 8.1.2.1. Product Type breakdown size & forecasts, 2022-2032
  - 8.1.2.2. Application breakdown size & forecasts, 2022-2032
  - 8.1.2.3. Industry Vertical breakdown size & forecasts, 2022-2032
8.2. Europe Secondary Battery Market
- 8.2.1. UK Secondary Battery Market
- 8.2.2. Germany Secondary Battery Market
- 8.2.3. France Secondary Battery Market
- 8.2.4. Italy Secondary Battery Market
- 8.2.5. Spain Secondary Battery Market
- 8.2.6. Rest of Europe Secondary Battery Market
8.3. Asia-Pacific Secondary Battery Market
- 8.3.1. China Secondary Battery Market
- 8.3.2. India Secondary Battery Market
- 8.3.3. Japan Secondary Battery Market
- 8.3.4. Australia Secondary Battery Market
- 8.3.5. South Korea Secondary Battery Market
- 8.3.6. Rest of Asia Pacific Secondary Battery Market
8.4. Latin America Secondary Battery Market
- 8.4.1. Brazil Secondary Battery Market
- 8.4.2. Mexico Secondary Battery Market
- 8.4.3. Rest of Latin America Secondary Battery Market
8.5. Middle East & Africa Secondary Battery Market
- 8.5.1. Saudi Arabia Secondary Battery Market
- 8.5.2. South Africa Secondary Battery Market
- 8.5.3. Rest of Middle East & Africa Secondary Battery Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Panasonic Corporation
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. LG Chem
- 9.3.3. Samsung SDI Co., Ltd.
- 9.3.4. BYD Company Ltd.
- 9.3.5. Amperex Technologies
- 9.3.6. Hitachi High-Tech India Private Limited
- 9.3.7. Johnson Controls
- 9.3.8. Energizer Holdings Inc.
- 9.3.9. Aquion Energy LLC
- 9.3.10. BTI
- 9.3.11. Tesla Inc.
- 9.3.12. A123 Systems LLC
- 9.3.13. Exide Technologies
- 9.3.14. Saft Groupe S.A.
- 9.3.15. Envision AESC Group Ltd.

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes