Secondary Battery Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The report covers Global Secondary Battery Market Companies and it is Segmented by Technology (Lead-acid Batteries, Lithium-ion Batteries, and Other Technologies (NiMh, NiCD, etc.)), Application (Automotive Batteries (HEV, PHEV, and EV), Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.), Portable Batteries (Consumer Electronics, etc.), and Other Applications (Power Tools Batteries, SLI Batteries, etc.)), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

Secondary Battery Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Secondary Battery Market Size

Secondary Battery Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 15.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Secondary Battery Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Secondary Battery Market with other markets in Energy & Power Industry

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Secondary Battery Market Analysis

The Secondary Battery Market is expected to register a CAGR of greater than 15% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Currently, the market has reached pre-pandemic levels.

  • Over the medium term, declining lithium-ion battery prices and increasing adoption of electric vehicles are likely to be the major factors driving the market.
  • On the other hand, the demand-supply mismatch of raw materials is likely to hinder the market's growth.
  • Developing new and advanced battery chemistries will likely create immense opportunities for the overall secondary battery market.
  • Asia-Pacific is expected to be the largest market, with the majority of the demand coming from China, Japan, and India.

Secondary Battery Industry Overview

The secondary battery market is highly fragmented. Some of the major players include (in no particular order) Contemporary Amperex Technology Co. Limited, BYD Co. Ltd, Duracell Inc., EnerSys, and Tesla Inc.

Secondary Battery Market Leaders

  1. BYD Co. Ltd

  2. Contemporary Amperex Technology Co. Limited

  3. Duracell Inc.

  4. EnerSys

  5. Tesla, Inc.

  6. *Disclaimer: Major Players sorted in no particular order
BYD Co. Ltd, Contemporary Amperex Technology Co. Limited, Duracell Inc., EnerSys, Tesla, Inc.
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Secondary Battery Market News

  • In December 2021, Reliance New Energy Solar Limited entered an agreement with Faradion to acquire 100% of the equity shares for a total value of USD 117 million. Faradion is a UK-based leading battery technology company with an extensive IP portfolio covering many aspects of sodium-ion technology.
  • In December 2021, Northvolt produced its first lithium-ion battery cell at its factory in Skelleftea, Sweden. The facility is expected to have a yearly output of 60 GWh, which is enough to supply batteries for around 1 million EVs. It had planned to begin commercial delivery in 2022.

Secondary Battery Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD billion, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Battery/Raw Material Price Trends and Forecast (in USD per kWh or USD per metric ton), by Major Technology Type, till 2027
  • 4.5 International Trade Statistics (Import/Export Data) in USD million, by Major Technology Type, by Major Countries, till 2020
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.2 Restraints
  • 4.7 Supply Chain Analysis
  • 4.8 Porter's Five Forces Analysis
    • 4.8.1 Bargaining Power of Suppliers
    • 4.8.2 Bargaining Power of Consumers
    • 4.8.3 Threat of New Entrants
    • 4.8.4 Threat of Substitutes Products and Services
    • 4.8.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Technology
    • 5.1.1 Lead-acid Battery
    • 5.1.2 Lithium-ion Battery
    • 5.1.3 Other Technologies (NiMh, NiCD, etc.)
  • 5.2 Application
    • 5.2.1 Automotive Batteries (HEV, PHEV, and EV)
    • 5.2.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)
    • 5.2.3 Portable Batteries (Consumer Electronics, etc.)
    • 5.2.4 Other Applications (Power Tools Batteries, SLI Batteries, etc.)
  • 5.3 Geography
    • 5.3.1 North America
    • 5.3.2 Asia-Pacific
    • 5.3.3 Europe
    • 5.3.4 South America
    • 5.3.5 Middle East & Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 BYD Co. Ltd
    • 6.3.2 Contemporary Amperex Technology Co. Limited
    • 6.3.3 Duracell Inc.
    • 6.3.4 EnerSys
    • 6.3.5 GS Yuasa Corporation
    • 6.3.6 Clarios
    • 6.3.7 LG Chem Ltd
    • 6.3.8 Panasonic Corporation
    • 6.3.9 Saft Groupe SA
    • 6.3.10 Samsung SDI Co. Ltd
    • 6.3.11 Showa Denko KK
    • 6.3.12 Tesla Inc.
    • 6.3.13 TianJin Lishen Battery Joint-Stock Co. Ltd
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Secondary Battery Industry Segmentation

The secondary battery or storage battery is a cell or combination of cells in which the cell reactions are reversible. This means that the original chemical conditions within the cell can be restored by passing current to flow into it, i.e., by charging from an external source.

The secondary battery market is segmented by technology, application, and geography. By technology, the market is segmented into lead-acid batteries, lithium-ion batteries, and other technologies. By application, the market is segmented into automotive batteries, industrial batteries, portable batteries, and other applications. The report also covers the market size and forecasts for the secondary battery market across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

Technology Lead-acid Battery
Lithium-ion Battery
Other Technologies (NiMh, NiCD, etc.)
Application Automotive Batteries (HEV, PHEV, and EV)
Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)
Portable Batteries (Consumer Electronics, etc.)
Other Applications (Power Tools Batteries, SLI Batteries, etc.)
Geography North America
Asia-Pacific
Europe
South America
Middle East & Africa
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Secondary Battery Market Research FAQs

What is the current Secondary Battery Market size?

The Secondary Battery Market is projected to register a CAGR of greater than 15% during the forecast period (2025-2030)

Who are the key players in Secondary Battery Market?

BYD Co. Ltd, Contemporary Amperex Technology Co. Limited, Duracell Inc., EnerSys and Tesla, Inc. are the major companies operating in the Secondary Battery Market.

Which is the fastest growing region in Secondary Battery Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Secondary Battery Market?

In 2025, the Asia Pacific accounts for the largest market share in Secondary Battery Market.

What years does this Secondary Battery Market cover?

The report covers the Secondary Battery Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Secondary Battery Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Secondary Battery Industry Report

The global secondary battery market is experiencing significant growth, driven by technological advancements and increasing demand across various segments such as automotive, industrial, and portable batteries. Lithium-ion batteries, known for their favorable capacity-to-weight ratio and declining costs, dominate the market. Regionally, Asia Pacific leads due to government initiatives towards e-mobility and a surge in battery manufacturing, especially in China and India. North America also shows notable growth, fueled by the rising demand for electric vehicles (EVs) and advancements in renewable energy storage solutions. Despite the robust growth, challenges like the mismatch in demand and supply of raw materials and stringent regulations could impede progress. The market is poised for expansion, particularly in the portable battery and lithium secondary battery segments, reflecting trends in consumer electronics and renewable energy. For detailed statistics, market share, size, and revenue growth rate, refer to industry reports by Mordor Intelligence™, which include market forecasts and historical overviews. Get a sample of this industry analysis as a free report PDF download to understand the market dynamics further.

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