In 2023, the global market for industrial lithium-based batteries was the largest in Asia-Pacific, at 2.68 billion U.S. dollars. This was followed by North America and Europe, with market values amounting to 1.1 and 0.92 billion U.S. dollars, respectively. These regions also dominated the global market for industrial lead acid batteries. Asia-Pacific is forecast to remain the top player worldwide, with its market more than doubling between 2023 and 2031.
More information on the global industrial battery market can be found here.
Market value of lithium-based batteries for industrial applications worldwide in 2023, with a forecast until 2031, by region
(in million U.S. dollars)
* Forecast based on a CAGR of 9.31 percent for Asia-Pacific, 5.93 percent for North America, 7.39 percent for Europe, 8.32 percent for Latin America, and 8.54 percent for Middle East and Africa in the period from 2024 to 2031.
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Extrapolate. (February 9, 2024). Market value of lithium-based batteries for industrial applications worldwide in 2023, with a forecast until 2031, by region (in million U.S. dollars) [Graph]. In Statista. Retrieved December 23, 2024, from https://www.statista.com/statistics/1450834/industrial-lithium-based-battery-global-market-value-by-region-forecast/
Extrapolate. "Market value of lithium-based batteries for industrial applications worldwide in 2023, with a forecast until 2031, by region (in million U.S. dollars)." Chart. February 9, 2024. Statista. Accessed December 23, 2024. https://www.statista.com/statistics/1450834/industrial-lithium-based-battery-global-market-value-by-region-forecast/
Extrapolate. (2024). Market value of lithium-based batteries for industrial applications worldwide in 2023, with a forecast until 2031, by region (in million U.S. dollars). Statista. Statista Inc.. Accessed: December 23, 2024. https://www.statista.com/statistics/1450834/industrial-lithium-based-battery-global-market-value-by-region-forecast/
Extrapolate. "Market Value of Lithium-based Batteries for Industrial Applications Worldwide in 2023, with a Forecast until 2031, by Region (in Million U.S. Dollars)." Statista, Statista Inc., 9 Feb 2024, https://www.statista.com/statistics/1450834/industrial-lithium-based-battery-global-market-value-by-region-forecast/
Extrapolate, Market value of lithium-based batteries for industrial applications worldwide in 2023, with a forecast until 2031, by region (in million U.S. dollars) Statista, https://www.statista.com/statistics/1450834/industrial-lithium-based-battery-global-market-value-by-region-forecast/ (last visited December 23, 2024)
Market value of lithium-based batteries for industrial applications worldwide in 2023, with a forecast until 2031, by region (in million U.S. dollars) [Graph], Extrapolate, February 9, 2024. [Online]. Available: https://www.statista.com/statistics/1450834/industrial-lithium-based-battery-global-market-value-by-region-forecast/
