China dominated the industrial battery market worldwide, with a market value of 4.58 billion U.S. dollars in 2023. The East Asian country is forecast to remain the top player, with figures surpassing eight billion U.S. dollars in 2031. Meanwhile, the United States had the second-largest market value in 2023, but this is estimated to change in the upcoming years, as Japan would overtake the North American country by the end of the period.
More information on the global industrial battery market can be found here.
Leading countries ranked by market value of batteries for industrial applications worldwide in 2023, with a forecast for 2031
(in million U.S. dollars)
Figures underlie the following CAGR assumption for 2024 to 2031:
China - 7.43 percent United States - 4.56 percent Japan - 8.02 percent Brazil - 7.31 percent India - 10.59 percent Canada - 6.4 percent Germany - 5.01 percent United Kingdom - 4.78 percent France - 5.32 percent Italy -Â 5.6 percent Mexico - 6.57 percent South Africa- 5.21 percent Argentina - 7.87 percent Saudi Arabia - 9 percent United Arab Emirates - 10.66 percent Rest of Europe - 7.17 percent Rest of Asia-Pacific - 8.64 percent Rest of Middle East and Africa - 8.12 percent Rest of Latin America - 7.76 percent
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Extrapolate. (February 9, 2024). Leading countries ranked by market value of batteries for industrial applications worldwide in 2023, with a forecast for 2031 (in million U.S. dollars) [Graph]. In Statista. Retrieved October 02, 2024, from https://www.statista.com/statistics/1450747/industrial-battery-global-market-value-by-country-forecast/
Extrapolate. "Leading countries ranked by market value of batteries for industrial applications worldwide in 2023, with a forecast for 2031 (in million U.S. dollars)." Chart. February 9, 2024. Statista. Accessed October 02, 2024. https://www.statista.com/statistics/1450747/industrial-battery-global-market-value-by-country-forecast/
Extrapolate. (2024). Leading countries ranked by market value of batteries for industrial applications worldwide in 2023, with a forecast for 2031 (in million U.S. dollars). Statista. Statista Inc.. Accessed: October 02, 2024. https://www.statista.com/statistics/1450747/industrial-battery-global-market-value-by-country-forecast/
Extrapolate. "Leading Countries Ranked by Market Value of Batteries for Industrial Applications Worldwide in 2023, with a Forecast for 2031 (in Million U.S. Dollars)." Statista, Statista Inc., 9 Feb 2024, https://www.statista.com/statistics/1450747/industrial-battery-global-market-value-by-country-forecast/
Extrapolate, Leading countries ranked by market value of batteries for industrial applications worldwide in 2023, with a forecast for 2031 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1450747/industrial-battery-global-market-value-by-country-forecast/ (last visited October 02, 2024)
Leading countries ranked by market value of batteries for industrial applications worldwide in 2023, with a forecast for 2031 (in million U.S. dollars) [Graph], Extrapolate, February 9, 2024. [Online]. Available: https://www.statista.com/statistics/1450747/industrial-battery-global-market-value-by-country-forecast/
