Global Mixing Equipment For Battery Manufacturing - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Global Mixing Equipment Market For Battery Manufacturing Industry is expected to grow from USD 1.69 billion in 2024 to USD 4.42 billion by 2029, at a CAGR of 21.20% during the forecast period (2024-2029).

Key Highlights

• Over the medium term, the increase in investments to enhance the battery production capacity and rising adoption of electric vehicles are expected to drive the market over the forecast period.
• On the other hand, the high logistic costs are expected to hamper the market growth over the forecast period.
• The increasing deployment of advanced battery solutions is leading to the expansion of battery manufacturing. This, along with technology development in battery manufacturing equipment, is expected to create a significant growth opportunity for the market during the forecast period.
• The market is expected to witness significant growth in North America due to the increasing battery applications across numerous end-use industries in the region.

Global Mixing Equipment Market Trends

Investments To Enhance the Battery Production Capacity is expected to Drive the Market Growth

• Battery manufacturing capacity has become a crucial focus for countries worldwide due to the increasing usage of batteries in various industries such as automotive, electronics, and renewable energy. To meet this demand, many countries are investing in expanding their battery manufacturing plant. Companies are focused on procuring mixing equipment.
• For instance, according to the Business Council for Sustainable Energy, in 2022, the US lithium-ion battery manufacturing capacity reached 108 GWh, compared to 59 GWh in 2021. The manufacturing capacity is expected to increase with rising demand from various end users, such as electric vehicles, battery energy storage, etc.
• The increasing demand for mixing equipment is a direct result of the increasing investments in deploying new battery manufacturing plants. These plants require specialized equipment to produce batteries efficiently and at scale. Mixing equipment plays a crucial role in ensuring the quality, performance, and safety of batteries.
• For instance, in October 2023, CATL, Contemporary Amperex Technology Co. Limited, a leading Chinese manufacturer of lithium-ion batteries, announced the opening of a new battery production base that boasts highly automated production lines capable of producing one cell every second. The facility is being constructed in two phases and is expected to have a combined annual capacity of 60 GWh.
• Thus, the increase in investments to enhance the battery production capacity is expected to drive the market over the forecast period.

The Market is Expected to Witness Significant Growth in North America

• North America is expected to witness significant growth due to factors such as support from the government for lithium-ion battery plant development, rising electric vehicle usage, and the formation of US battery machine builders.
• Encouraging companies to establish battery manufacturing plants in the United States can have a significant impact on the demand for battery manufacturing equipment, particularly mixing equipment. Battery manufacturing equipment, including mixing equipment, plays a crucial role in the production process. As the demand for batteries grows, so does the need for efficient and reliable mixing equipment to ensure high-quality battery production.
• For instance, in December 2023, Governor Cooper's announcement of a new lithium-ion battery plant for Morrisville signified a significant investment in clean energy technology and job creation in North Carolina. Forge Nano Inc. and its investors are set to invest over USD 165 million to establish a lithium-ion battery manufacturing facility in Morrisville. The Forge Battery plant is projected to commence operations in 2026, contributing to the state's economic growth and sustainability efforts.
• The increase in the usage and sales of electric vehicles in the United States has led to a corresponding rise in the production of electric vehicle (EV) batteries. This surge in EV battery production has increased the demand for mixing equipment to manufacture these batteries efficiently.
• For instance, in October 2023, Toyota Motor Corporation announced a significant boost in investment, allocating an additional USD 8 billion to its electric vehicle battery manufacturing plant in North Carolina. This move was part of the Japanese automaker's accelerated efforts to electrify its vehicle lineup. Toyota aims to offer electrified options for all its models by 2025, and this investment would bring the total investment in the North Carolina plant to about USD 13.9 billion.
• Thus, owing to the increase in battery manufacturing, the demand for mixing equipment is expected to increase. Thus, the market is expected to witness significant growth in North America during the forecast period.

Global Mixing Equipment Industry Overview

The global mixing equipment market for battery manufacturing is semi-fragmented. The key players in the market include SIEHE GROUP, Charles Ross & Son Company, Xiamen Tmax Battery Equipments Limited, SCM GROUP LIMITED. HK, and XIAMEN TOB NEW ENERGY TECHNOLOGY Co. LTD.

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