| Study Period | 2020 - 2030 |
| Market Size (2025) | USD 485.76 Million |
| Market Size (2030) | USD 789.46 Million |
| CAGR (2025 - 2030) | 10.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Battery Plate Market Analysis
The Battery Plate Market size is estimated at USD 485.76 million in 2025, and is expected to reach USD 789.46 million by 2030, at a CAGR of 10.2% during the forecast period (2025-2030).
- Over the medium term, factors such as declining prices of lithium-ion batteries and increased penetration of renewable energy driving demand for energy storage systems are likely to drive the battery plate market in the forecast period.
- On the other hand, the demand-supply mismatch of battery raw materials like cobalt, lithium, copper, etc., which is expected to restrain the demand for battery plates in the studied period.
- Nevertheless, technological advancements in novel materials (composites, alloys, etc.) and configurations (bag plates) for battery plates to increase efficiency and sustainability will likely create lucrative growth opportunities for the market during the forecast period.
- Asia-Pacific is the fastest-growing market during the forecast period due to the rising energy demand. This growth is attributed to increasing investments, coupled with supportive government policies in the countries of this region, including India, China, and Australia.
Battery Plate Market Trends
Automotive Sector to Dominate the Market
- In the early years of the battery industry, the consumer electronics sector was the major consumer of batteries. But in recent years, electric vehicle (EV) manufacturers have become the biggest consumers of lithium-ion batteries, owing to the growing sales of EVs.
- EVs do not emit CO2, NOX, or any other greenhouse gases and hence, have a lower environmental impact than conventional internal combustion engine (ICE) vehicles. Due to this advantage, many countries are encouraging the use of EVs by introducing subsidies and government programs.
- Several countries have announced plans to ban the sales of ICE vehicles in the future. Norway announced plans to ban the sales of ICE vehicles by 2025, France by 2040, and the United Kingdom by 2050. India also has plans to phase out ICE engines by 2030, while China's similar plan is currently under the relevant research phase.
- However, as of 2021, conventional fuel-fired cars cannot be banned in any country, as the EV technology and the EV industry may not be ready for such a move, which can cause significant disruptions in the market. Nonetheless, announcements for the future have encouraged EV manufacturers to invest heavily in R&D activities.
- The EVs mainly use lithium-ion batteries. The declining lithium-ion battery costs have brought down the cost of EV manufacturing. During the forecast period, EVs are expected to reach price parity with gasoline-fired vehicles.
- As per International Energy Agency (IEA) statistics 2022, the annual lithium demand for EV batteries accounted for about 77 kT worldwide. Such developments are anticipated to aid the demand for battery plate market during the forecast period.
- According to the IEA, in 2022, the demand for automotive lithium-ion (Li-ion) batteries increased significantly by about 65% to reach 550 GWh, up from 330 GWh in 2021. This growth was mainly driven by the rising popularity of electric passenger cars, with new registrations showing a remarkable 55% increase in 2022 compared to the previous year.
- Therefore, as the demand from the EV sector is expected to dominate battery sales, the automobile segment is expected to dominate the battery plate market during the forecast period.
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Asia-Pacific to Dominate the Market
- The Asia-Pacific region dominated the market in 2022. With the increasing deployment of electric vehicles in countries such as China and India and the high demand for electronics with urbanization and increasing power purchase parity, the demand for lithium-ion batteries is expected to witness significant growth in the region, driving demand for battery plates during the forecast period.
- A significant fraction of Asia-Pacific's population is estimated to live without electricity. It depends on conventional fuels, such as kerosene and diesel, for their lighting and mobile phone charging needs. Lithium-ion battery integrated energy storage solutions are likely to witness an increasing adoption rate due to their technical benefits and declining lithium-ion battery prices. This, in turn, is expected to create a significant number of opportunities for li-ion battery and battery component manufacturers in the near future.
- China is one of the largest markets for electric vehicles, and the increasing adoption of electric vehicles in the country has been in line with the clean energy policy. Moreover, the Government of China has been providing financial and non-financial incentives to promote the adoption of electric vehicles. According to IEA, as of 2022, the EV battery demand in China stood at 312 GWh/year, accounting for nearly 56% of global EV battery demand.
- In April 2023, Tesla announced its plans to grow its presence in China by constructing a new factory dedicated to manufacturing large-scale batteries. The upcoming plant, located in Shanghai, will be able to produce 10,000 units of Tesla's "Megapack" energy storage each year. Construction of the Megapack plant is anticipated to commence later this year, with battery production set to begin in the summer of 2024.
- India is one of the fastest-growing countries globally for lithium-ion batteries. The country does not have reserves of the required raw materials for producing lithium-ion batteries, and the cells and batteries are being imported from other countries (China, Vietnam, and Thailand). They are then either assembled or directly sold in the domestic market.
- In March 2022, the Government of India announced that 50 GWh of battery capacity had been granted to four successful bidders under the PLI (Production Linked Incentive) Scheme for Advanced Chemistry Cell (ACC) Battery Storage, totaling USD 2.2 billion. The manufacturing facilities are expected to be established within a two-year timeframe.
- The incentives will be disbursed based on the sale of batteries manufactured in India, focusing on achieving higher domestic value addition. The ACC Battery storage manufacturing projects will involve a direct investment of approximately USD 5.5 billion. The incentive structure aims to encourage the industry to foster new investments in the indigenous supply chain and promote deep localization for battery manufacturing in the country.
- Therefore, owing to the above factors, Asia-Pacific is expected to dominate the battery plate market during the forecast period.
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Battery Plate Industry Overview
The battery plate market is semi fragmented. Some of the major players in the market (in no particular order) include Enersys, Exide Industries Ltd, GS Yuasa Corporation, FIAMM Energy Technology, and Amara Raja Batteries Limited, among others.
Battery Plate Market Leaders
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Enersys
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Exide Industries Ltd
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GS Yuasa Corporation
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Amara Raja Batteries Limited
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Fiamm Energy Storage Solutions SpA
- *Disclaimer: Major Players sorted in no particular order
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Battery Plate Market News
- July 2023: Enevate and JR Energy Solution from Korea joined forces to establish a battery cell electrode factory in the United States. Together, they will customize lithium-ion battery cell electrodes, encompassing both anodes and cathodes, and offer electrode solutions to various customers. The companies are currently assessing potential locations in the US. Their objective is to achieve an annual paired electrode capacity of up to 6 GWh (6 GWh anode + 6 GWh cathode) through different stages of construction.
- February 2023: Kautex Textron GmbH & Co. KG announced it had received the first order from an automotive OEM for a thermoplastic composite underbody battery protection skid plate. The skid plate is part of the company's new Pentatonic battery system product line supporting battery electric vehicle production.
Battery Plate Industry Segmentation
Battery plates are fabricated using a lattice grid structure, supporting the active material within them. Additionally, these plates facilitate the conduction of electricity, allowing for the efficient flow of electrical charges during the charging and discharging processes.
The battery plate market is segmented into battery type, end-user, and geography. By battery type, market is segmented into lithium-ion batteries, lead-acid batteries, and other types. By end-user, the market is segmented into Automotive, Aerospace, Energy Storage, Aerospace, Electronics, and Others. The report also covers the market size and forecasts across major regions. The market sizing and forecasts for each segment are based on revenue (in USD).
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Battery Plate Market Research Faqs
How big is the Battery Plate Market?
The Battery Plate Market size is expected to reach USD 485.76 million in 2025 and grow at a CAGR of 10.20% to reach USD 789.46 million by 2030.
What is the current Battery Plate Market size?
In 2025, the Battery Plate Market size is expected to reach USD 485.76 million.
Who are the key players in Battery Plate Market?
Enersys, Exide Industries Ltd, GS Yuasa Corporation, Amara Raja Batteries Limited and Fiamm Energy Storage Solutions SpA are the major companies operating in the Battery Plate Market.
Which is the fastest growing region in Battery Plate Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Battery Plate Market?
In 2025, the Asia Pacific accounts for the largest market share in Battery Plate Market.
What years does this Battery Plate Market cover, and what was the market size in 2024?
In 2024, the Battery Plate Market size was estimated at USD 436.21 million. The report covers the Battery Plate Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Battery Plate Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Battery Plate Industry Report
Statistics for the 2025 Battery Plate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Battery Plate analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
