PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1565792
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1565792
The global Battery production machine market is projected to reach USD 13.26 billion by 2024 and USD 37.59 billion by 2029, at a CAGR of 23.2%. Factors driving the growth of the battery production machine market are the general rise in demand for batteries across industries, developments in technologies that increase the efficiency of production, the growing initiatives of governments to promote electric vehicles and renewable sources of energy, and the growing pressure for sustainability in manufacturing.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Machine Type, Battery Type, Application and Region |
Regions covered | North America, Europe, APAC, RoW |
" Formation and testing machines are anticipated to register the highest CAGR in the battery production machine market during the forecast period."
Formation and testing machines are expected to grow at the highest CAGR in the battery production machine market during the forecast period, primarily due to their key role in ensuring battery performance and safety. Hight performance needs, particularly in electric vehicles and energy storage systems, are spurring demand for advanced formation and testing solutions as manufacturers invest in technologies that improve high-standard compliance and meet the stringent requirements of their industry. Increasing focus on efficient and scalable production process accelerates the adoption of these machines across the battery manufacturing sector.
"LFP batteries are projected to capture the largest share in the battery production machine market throughout the forecast period."
During the forecast period, LFP batteries are expected to hold the largest share in the battery production machine market. This is mainly due to their rising acceptance in electric vehicles and renewable energy-based storage systems and their high safety, thermal stability, and cost-effectiveness. The application advantage in both grid storage and EVs together with government policies favorable to solutions for clean energy ensures a steadily increasing demand for LFP batteries. Consequentially, there will be high demand for the production machines, which will be needed to produce this type of battery exclusively..
"Automotive segment to lead with highest CAGR in battery production machine market during forecast period."
Automotive is expected to hold the highest CAGR in the battery production machine market during the forecast period. This trend is attributed to fast growth in electric vehicle adoption everywhere in the world. As a result of radical shift of the automotive industry toward electrification, high-quality batteries are in demand, and their production requires advanced production machines. It is further supplemented by proactive measures from governments globally to promote cleaner options for transport and, as a reward, encourage manufacturers to build more capacities for battery production. The rise in emphasis on sustainability and alternative sources has accelerated investment in technologies related to battery production. The growth in the automotive sector and increased demand for efficient battery production processes make the automotive application a major growth driver for the battery production machine market.
"Europe will experience a significant growth rate in the battery production machine market during the forecast period."
The Europe region is projected to witness the highest compound annual growth rate in the battery production machine market in the forecast period, on account of its rising intent toward clean energy transition, higher adoption of electric vehicles, and conducive government policies. Aggressive carbon neutrality commitments made by regions lead to investment in battery production capacity, thereby drawing manufacturers toward setting up plants within Europe. Germany will have the strongest and most significant presence of the automotive industry, which would require the highest growth in European battery production machine markets that are further heightened by demand for batteries and energy storage systems.
Breakdown of primaries
A variety of executives from key organizations operating in the battery production machine market were interviewed in-depth, including CEOs, marketing directors, and innovation and technology directors.
Major players profiled in this report are as follows: Hitachi High-Tech Corporation (Japan), Durr Group (Germany), Lead Intelligent Equipment Co., Ltd. (China), Schuler Group (Germany), and Yinghe Technology Co., Ltd .(China) and others. These leading companies possess a wide portfolio of products, establishing a prominent presence in established as well as emerging markets.
The study provides a detailed competitive analysis of these key players in the battery production machine market, presenting their company profiles, most recent developments, and key market strategies.
Research Coverage
In this report, the battery production machine market has been segmented based on machine type, battery type, application and region. The machine type segment consists of Mixing Machines, Coating & Drying Machines, Calendaring Machines, Slitting Machines, Electrode Stacking Machines, Assembly and Handling Machines and Formation & Testing Machines. The battery type segment consists of Nickel Cobalt Aluminum (NCA), Nickel Manganese Cobalt (NMC), Lithium Iron Phosphate (LFP), Lithium Manganese Oxide (LMO), Lithium Cobalt Oxide (LCO) and Lithium Titanate (LTO). The application segment consists of Automotive, Renewable Energy, Industrial, Consumer Electronics and Others (Marine, Telecommunications, Medical Devices). The market has been segmented into four regions-North America, Asia Pacific, Europe, and RoW.
Reasons to buy the report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the battery production machine market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
Key Benefits of Buying the Report