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. Read More

Which is the fastest growing region in Battery Plate Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Battery Plate Market?

In 2024, the Asia Pacific accounts for the largest market share in Battery Plate Market. Read More

What years does this Battery Plate Market cover, and what was the market size in 2023?

In 2023, the Battery Plate Market size was estimated at USD 400 million. The report covers the Battery Plate Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Battery Plate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Battery Plate Market Size

Market Size of Battery Plate Industry

Study Period	2020 - 2029
Market Size (2024)	USD 440.80 Million
Market Size (2029)	USD 716.30 Million
CAGR (2024 - 2029)	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 440.80 million in 2024, and is expected to reach USD 716.30 million by 2029, growing at a CAGR of 10.20% during the forecast period (2024-2029).

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 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).

Need A Different Region Or Segment?

Customize Now

Battery Plate Market Size Summary

The battery plate market is poised for significant growth over the forecast period, driven by the declining costs of lithium-ion batteries and the increasing adoption of renewable energy sources. These factors are expected to bolster the demand for energy storage systems, thereby propelling the market forward. However, challenges such as the mismatch in the supply and demand of essential battery raw materials like cobalt, lithium, and copper may pose constraints. Despite these challenges, advancements in novel materials and configurations for battery plates are anticipated to create lucrative opportunities, enhancing efficiency and sustainability. The Asia-Pacific region is projected to be the fastest-growing market, fueled by rising energy demands and supportive government policies in countries like India, China, and Australia.

The electric vehicle (EV) sector has emerged as a dominant force in the battery industry, significantly influencing the demand for lithium-ion batteries. The environmental benefits of EVs, coupled with government incentives and plans to phase out internal combustion engine vehicles, have spurred substantial investments in EV manufacturing and research. This trend is expected to continue, with EVs reaching price parity with traditional vehicles, further driving the demand for battery plates. The Asia-Pacific region, particularly China and India, is witnessing a surge in lithium-ion battery demand due to urbanization and increased power purchase parity. The region's focus on clean energy policies and the establishment of manufacturing facilities under initiatives like India's Production Linked Incentive Scheme are set to bolster the battery plate market, making it a key player in the global landscape.

Explore More

Battery Plate Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 Market Size and Demand Forecast in USD, till 2028
3. 1.3 Recent Trends and Developments
4. 1.4 Government Policies and Regulations
5. 1.5 Market Dynamics
  1. 1.5.1 Drivers
    1. 1.5.1.1 Declining Prices of Lithium-ion Batteries
    2. 1.5.1.2 Increased Penetration of Energy Storage Systems
  2. 1.5.2 Restraints
    1. 1.5.2.1 Demand-supply Mismatch of Battery Raw Materials
6. 1.6 Supply Chain Analysis
7. 1.7 Porter's Five Forces Analysis
  1. 1.7.1 Bargaining Power of Suppliers
  2. 1.7.2 Bargaining Power of Consumers
  3. 1.7.3 Threat of New Entrants
  4. 1.7.4 Threat of Substitutes Products and Services
  5. 1.7.5 Intensity of Competitive Rivalry