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Leading countries ranked by market value of batteries for industrial applications worldwide in 2023, with a forecast for 2031 (in million U.S. dollars)

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Source

Release date

February 2024

Region

Worldwide

Survey time period

2023

Supplementary notes

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 -  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

Citation formats

Global market value of batteries for industrial applications 2023-2031, by country

Published by
Doris Dokua Sasu,
Feb 15, 2024

China dominated the industrial battery market worldwide, with a market value of **** billion U.S. dollars in 2023. The East Asian country is forecast to remain the top player, with figures surpassing billion U.S. dollars in 2031. Meanwhile, the United States had the *-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 .

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