Market Trends

Global Battery Market: Overview The rapid increases in battery technology are gaining demand mostly from consumer electronics. Technologies such as grid power, industrial, and domestic storage are boosting the prospects of the battery market. As per the recent findings by US Department of Energy, it is projected that by year 2020, the annual battery production will reach 10,000-500,000. The growing production including import and export of batteries worldwide offered opportunities worth  $115.62 billion   in 2018, and the global battery market will prosper at a compound annual growth rate of   8.21%   during the forecast period of 2019-2025. APAC is most lucrative, leading with a regional share of around 31.09% in 2018. Growing disposable income among urban populations in the region is leading for high demand for plug-in hybrid and electric vehicles. Furthermore, growing government policies of using non-toxic products that do not affect the environment are influencing the growth of th