Global Battery Manufacturing Equipment Market 2023 – 2032

Reports Description

According to Custom Market Insights (CMI), The Global Battery Manufacturing Equipment Market Size was valued at USD 1.9 billion in 2021 and 2.07 billion in 2022 and is estimated to reach USD 25.4 billion by the end of 2030 at a CAGR of approximately 30% during the forecast period 2022-2030. The rapid increase in the demand for electric vehicles has recently boosted the use of batteries.

The processes, such as electrode manufacturing which forms an integral part of the battery making process, are carried out by a limited number of industries. The shortage in producing these electrodes hampers the total process of making a battery to its core. Slurry mixing is another sector that helps form the battery’s inner content, which is again available at a very limited scale.

The lack of these facilities slows down the process of manufacturing, which hampers the companies’ output. The battery companies are increasingly inching towards slower production due to the shortage of the raw materials required to manufacture good quality batteries. The batteries used in these vehicles are specially made per the demands and requirements of the power output to be generated by a particular vehicle.

The covid19 pandemic has not hampered the demand for these battery-operated electric vehicles. The shortage of companies that deal with battery manufacturing equipment has greatly hampered the market’s growth. The battery assembly is very important as it forms the final product, which will be sold out in the market to the dealers. This assembling process of batteries is hampered when the accessory parts are unavailable.

The entire process of making a battery is finished when the total assembly goes under compliance and checking procedure. This is known as a battery finishing process that helps to rule out the chances of error in the final product. The occurrence of the covid19 pandemic has shown a considerable effect on the entire market but has not hampered the battery manufacturing equipment market greatly due to the constant production and demand for electric vehicles among the people. With the increasing cost of petroleum products and services, the demand for electric vehicles did not notice decline in the market, which helped the battery manufacturing market to maintain its momentum in the declining phase of the market.

On the other hand, the market was affected to a certain extent owing to the supply of raw materials, which are mainly required for producing the various battery components that help produce the final product. The numerous manufacturing companies in this sector are racing with each other to fulfill the needs and demands of the automobile industry to boost the production of electric vehicles in the market and meet the target set by the companies.

Numerous leading battery manufacturing industries and startups have disclosed their motives to start new plants for manufacturing having greater manufacturing capacity. Constant lockdown and restrictions on movement had made it difficult for the supplies of the raw materials to reach the already limited manufacturing units, which made it further difficult to produce the batteries. This hampered the production process of the companies, which did not go hand in hand with the market’s demand.

Growth Factor

The rapid demand for electric vehicles has boosted the supply and demand of electric vehicle batteries that have become an integral part of the entire market and the supply chain. Further, the battery market also proves to be a part of the after-sales market due to the constant renovation or refilling that the electric vehicle owners will do.

The different types of vehicles produced in the market demand different types and sizes of batteries, ultimately providing a great opportunity to the growing battery manufacturing market. Additionally, the supportive government rules and regulations regarding these battery-operated electric vehicles have helped encourage people to opt for such new advanced innovations, which are highly beneficial to society. The increasing cost of the various types of fuels in the market used for commuting by people has helped boost the demand for suitable alternatives that will be easier on the pocket of the middle class.

The introduction of electric vehicles proved to be a long-awaited alternative that helped the lower to medium socioeconomic class to choose a mode of transport for their daily travel along with a moderate expense on the power or energy required for the functioning of the vehicle. The increasing awareness among people regarding environmental issues and the techniques to improve the constantly deteriorating condition has pushed the battery manufacturing equipment market towards positive boundaries, which helps the market to achieve its pre-planned goals shortly. The various products that include the use of electric batteries will also help to propel the market for battery manufacturing equipment during the forecast period.

The facilities of recharging, which are provided by renewable batteries, have helped reduce the expenses behind these products and thus made it easier for their utilization over a considerable period. This increases the life of the products too, which helps to make the entire process quite cheaper compared to the other energy sources. Companies have encouraged using battery-operated devices and technology to boost renewable energy sources.

The daily basic electric devices used by people include the use of battery which proves to be an integral part. Based on Type and Application, the battery manufacturing industry has introduced various options. The battery manufacturing equipment market has also seen growth due to the portability of the devices operated by them, making it feasible for people to carry them to various places without worrying about the sources of power supply to enjoy the facilities provided by the devices. This reason has also made the government offer lucrative business opportunities to the market to protect the environment. 

Segmental insights

The segment of the battery manufacturing equipment market based on the Type

Lithium-ion batteries have experienced a gradual rise in the market owing to the increasing demand in the automobile industry with the increasing use of electric vehicles. Lead acid batteries are the next Type of battery rapidly used in industries and companies. This sector is in a state of infiltration by the former Type as a result of its feasibility.

The rapid demand for uninterrupted power supply for the smooth functioning of the devices has boosted the demand for these batteries. Nickel metal hydride batteries also provide quality services and are preferred for multiple purposes in the market. Nickel-cadmium batteries also form a major sector in the batteries market, along with the nickel metal hydride variants. The rapid increase in people opting for electric vehicles worldwide has boosted the demand for powerful batteries that provide energy for a longer period and can cover a greater range of distances.

The increasing competition among the key market players has emerged as a major opportunity for battery manufacturers to attract potential consumers worldwide.

A segment of the battery manufacturing equipment market based on Application

Automotive batteries have led the market to great heights because of their huge demand and supply chain owing to the increasing use of electrically operated vehicles by people.

The various types of vehicles introduced by the market have led to the demand for different types of batteries, depending upon the power output expected by the product. Industrial batteries have held the market on strong grounds about the rapid industrialization in the world. Developing nations include a huge number of upcoming industries and companies that boost the production of industrial battery types. Portable batteries help to make the devices easy to use and can be carried to places along with their power sources in terms of batteries. These multiple applications help boost the battery manufacturing equipment market, which encourages the use of renewable resources. 

Report Scope

Regional Insights

Based on geography, the Asia-Pacific region has shown the maximum growth in the battery manufacturing equipment market due to the high demand for electric vehicles owing to its recent introduction into the market due to the increasing fuel prices. The rapidly increasing prices of petrol and diesel have diverted the potential market towards the electric vehicle segment, which is expected to grow further over the period of the rising demand experienced in the market by the key market players. A huge client base in the Asia Pacific region has helped this region to emerge as the leading market player.

The North American market is next in line to boost the market size due to the high demand for electronic gadgets and devices of the rapidly developing technologies in the country. Acceptance of modern technology plays an important role, which is readily available in the region; hence, the market is seeing tremendous growth.

The huge number of information technology companies is proving to be a driving force in this region’s battery manufacturing equipment market. The European nations also help to propel the market size with rapid developments in the field of technology.

Key Players

• Johnson Controls
• NEC Corporation,
• GS Yuasa International
• BYD Company
• A123 Systems LLC
• Hitachi Chemical Co.,
• Panasonic Corporation
• Samsung SDI Co.,
• Toshiba Corporation
• LG Chem
• Contemporary Amperex Technology
• Saft
• Sony Corporation
• Eveready Industries

Recent Development

• Samsung has been seen to step into the market for the production of batteries to end user utilization of the devices along with other competitors such as Panasonic.
• M&A and JVs are the various strategies adopted by companies in order to maintain a stable position in the market. Increasing research and development is seen in order to increase production as per the demand in the market.

Segments covered in the report

By Type

• Lead Acid
• Lithium Ion
• Nickel Metal Hydride
• Nickel Cadmium
• Others

By Application

• Automotive Batteries
• Industrial Batteries
• Portable Batteries

On the basis of Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America