* Forecast based on a CAGR of 8.25 percent for lithium-based batteries, 6.22 percent for lead acid batteries, and 8.30 percent for other batteries in the period from 2024 to 2031.
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Global market value of batteries for industrial applications 2023-2031, by chemistry
With a market value of some *** billion U.S. dollars, lead acid batteries dominated the global industrial battery market in 2023. Lithium-based batteries followed, with a market of *** billion U.S. dollars that year. The market value of both battery types is expected to grow in the upcoming years, reaching **** and **** billion U.S. dollars by 2031, respectively. The European industrial battery market is forecast to follow a similar trend over the same period of time.
More information on the global industrial battery market can be found .
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Extrapolate. (February 9, 2024). Market value of batteries for industrial applications worldwide in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 26, 2026, from /statistics/1450798/industrial-battery-global-market-value-by-type-forecast/
Extrapolate. "Market value of batteries for industrial applications worldwide in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars)." Chart. February 9, 2024. ÌÇÐÄÆƽâ°æ. Accessed July 26, 2026. /statistics/1450798/industrial-battery-global-market-value-by-type-forecast/
Extrapolate. (2024). Market value of batteries for industrial applications worldwide in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 26, 2026. /statistics/1450798/industrial-battery-global-market-value-by-type-forecast/
Extrapolate. "Market Value of Batteries for Industrial Applications Worldwide in 2023, with a Forecast until 2031, by Chemistry (in Million U.S. Dollars)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 9 Feb 2024, /statistics/1450798/industrial-battery-global-market-value-by-type-forecast/
Extrapolate, Market value of batteries for industrial applications worldwide in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars) ÌÇÐÄÆƽâ°æ, /statistics/1450798/industrial-battery-global-market-value-by-type-forecast/ (last visited July 26, 2026)
Market value of batteries for industrial applications worldwide in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars) [Graph], Extrapolate, February 9, 2024. [Online]. Available: /statistics/1450798/industrial-battery-global-market-value-by-type-forecast/
