Projected global market value of industrial batteries 2023-2031, by region
The industrial battery market in Asia-Pacific was valued at 8.36 billion U.S. dollars in 2023, making it the region with the highest market value worldwide. This was followed by North America and Europe, with a market value of 3.34 and 2.86 billion U.S. dollars, respectively. All three regions are forecast to remain the top players in the upcoming years, but Asia-Pacific will see the largest growth, with its industrial battery market increasing by nearly 85 percent between 2023 and 2031, reaching a value of 15.45 billion U.S. dollars in the latter year. In terms of countries, China dominates the global industrial battery market and is estimated to do so over the next decade.
More information on the global industrial battery market can be found here.