Lead acid batteries dominated the European industrial battery market in 2023, with a value of 1.63 billion U.S. dollars. That same year, Europe's industrial lithium-based battery market was valued at some 923 million U.S. dollars. Altogether, the market value of industrial batteries in Europe stood at 2.86 billion U.S. dollars. This is forecast to increase over the next decade, as lead acid and lithium-based batteries would reach a market value of 2.33 and 1.62 billion U.S. dollars by the year 2031, respectively.
More information on the global industrial battery market can be found here.
Market value of batteries for industrial applications in Europe in 2023, with a forecast until 2031, by chemistry
(in million U.S. dollars)
* Forecast based on a CAGR of 7.39 percent for lithium-based batteries, 4.67 percent for lead acid batteries, and 7.41 percent for other batteries in the period from 2024 to 2031.
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Extrapolate. (February 9, 2024). Market value of batteries for industrial applications in Europe in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1450807/industrial-battery-market-value-by-type-europe-forecast/
Extrapolate. "Market value of batteries for industrial applications in Europe in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars)." Chart. February 9, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1450807/industrial-battery-market-value-by-type-europe-forecast/
Extrapolate. (2024). Market value of batteries for industrial applications in Europe in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1450807/industrial-battery-market-value-by-type-europe-forecast/
Extrapolate. "Market Value of Batteries for Industrial Applications in Europe in 2023, with a Forecast until 2031, by Chemistry (in Million U.S. Dollars)." Statista, Statista Inc., 9 Feb 2024, https://www.statista.com/statistics/1450807/industrial-battery-market-value-by-type-europe-forecast/
Extrapolate, Market value of batteries for industrial applications in Europe in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars) Statista, https://www.statista.com/statistics/1450807/industrial-battery-market-value-by-type-europe-forecast/ (last visited December 22, 2024)
Market value of batteries for industrial applications in Europe in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars) [Graph], Extrapolate, February 9, 2024. [Online]. Available: https://www.statista.com/statistics/1450807/industrial-battery-market-value-by-type-europe-forecast/
