Romania Rechargeable Battery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.88 Billion |
| Market Size (2029) | USD 1.51 Billion |
| CAGR (2024 - 2029) | 11.37 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Romania Rechargeable Battery Market Analysis
The Romania Rechargeable Battery Market size is estimated at USD 0.88 billion in 2024, and is expected to reach USD 1.51 billion by 2029, at a CAGR of 11.37% during the forecast period (2024-2029).
- Over the medium term, factors like the surging demand for consumer electronics and the growing adoption of renewable energy sources are poised to be key drivers for Romania's rechargeable battery market in the coming years.
- Conversely, high supply chain constraints in battery procurement present a challenge to Romania's rechargeable battery market.
- However, ongoing advancements in energy density, charging cycles, and energy retention are yielding more efficient rechargeable batteries, paving the way for numerous opportunities in the market's future.
Romania Rechargeable Battery Market Trends
Industrial Batteries Sector to Witness Growth
- In Romania, the industrial end-user segment commands a notable share of the rechargeable battery market. This is largely attributed to the region's burgeoning industries, fueled by a skilled workforce and the government's concerted efforts to amplify the manufacturing sector, further energizing the nation's economy.
- Recent data from the National Institute of Statistics Romania highlights a consistent uptick in the country's production price index. For instance, it rose from 95.62 in October 2023 to 96.02 in April 2024, underscoring a growing demand for industrial goods and a strengthening economy.
- As Romania's economy evolves, there's a pronounced shift towards sustainable and efficient energy solutions across multiple sectors. The surging demand for rechargeable batteries is spurred by factors like the increasing need for dependable power sources, a shift towards renewable energy, and the rising embrace of electric vehicles and energy storage systems.
- With the nation's industries on an upward trajectory, the appetite for rechargeable batteries is set to swell. A case in point: In March 2024, Turkish investment firm Ussuri Capital unveiled plans for a new low-carbon flat-rolled steel plant in Romania. Following a preliminary feasibility study, the firm is now zeroing in on potential land plots. The ambitious project, featuring a 1.2 million-ton annual capacity electric arc furnace (EAF) and a continuous strip casting line, aims to produce 1.2 million tons of hot-rolled coils annually. With local scrap as the primary input, the plant is slated to commence operations between 2027 and 2030.
- In Romania, rechargeable batteries find utility across diverse industrial sectors, from manufacturing and logistics to construction and energy production. In manufacturing, they power forklifts, automated guided vehicles (AGVs), and robotic systems, playing pivotal roles in assembly lines and warehouses.
- Additionally, the construction sector has increasingly turned to rechargeable batteries, using them to energize tools, equipment, and portable lighting systems on-site. This shift not only boosts productivity but also reduces dependence on fossil fuel generators.
- Given these trends, the industrial demand for rechargeable batteries is poised for growth in the coming years.
Increase Adoption of Renewable Energy is Likley to Drive the Market
- Romania's commitment to reducing greenhouse gas emissions and transitioning to a greener energy landscape is propelling the growth of its rechargeable battery market. As the nation prioritizes the integration of renewable sources like solar and wind power, the need for robust energy storage systems becomes evident due to the intermittent nature of these sources. Rechargeable batteries emerge as a crucial component in this energy storage landscape.
- Despite these efforts, Romania has faced challenges in rapidly expanding its renewable energy footprint. High initial capital expenditures for renewable projects and an inefficient grid infrastructure have hindered seamless integration. Data from the International Renewable Energy Agency (IRENA) highlights this struggle: from 2019 to 2023, Romania's renewable energy capacity grew by a mere 600 MW, translating to an annual growth rate just above 1%. However, with the government intensifying efforts to modernize the grid, brighter prospects loom on the horizon.
- Rechargeable batteries play a pivotal role in renewable energy systems, efficiently storing excess energy produced during peak times and releasing it during high demand or less productive periods. This not only bolsters the power grid's reliability and stability but also optimizes renewable energy use, reducing waste and enhancing returns on green investments.
- In a significant move, Romania's Ministry of Energy, in February 2024, relaunched a competitive solicitation for battery storage. This initiative, aimed at bolstering grid integration of renewable energy, seeks capacities of at least 240MW and 480MWh. The Ministry targets mid-2026 for the operational launch of these 2-hour duration battery energy storage systems (BESS), backed by a funding pool of USD 85.7 million. This solicitation follows a 2023 attempt, which had projected selections by year-end.
- Moreover, the rising trend of residential and commercial solar power adoption in Romania is amplifying the demand for rechargeable batteries. These batteries empower users to store solar energy, lessening grid dependence and countering the effects of intermittent solar radiation.
- Given these dynamics, Romania's push for renewable energy integration is set to fuel the rechargeable battery demand in the coming years.
Romania Rechargeable Battery Industry Overview
The Romania rechargeable battery market is semi-fragmented. Some of the key players in this market (in no particular order) are Contemporary Amperex Technology Co. Ltd., Exide Technologies, Panasonic Holdings Corporation, LUKAS Romania, and Tadiran Batteries GmbH.
Romania Rechargeable Battery Market Leaders
-
Contemporary Amperex Technology Co. Ltd.
-
LUKAS Romania
-
Tadiran Batteries GmbH
-
Panasonic Holdings Corporation
-
Exide Technologies
*Disclaimer: Major Players sorted in no particular order
Romania Rechargeable Battery Market News
- February 2024: Construction has commenced on a new STIHL plant in Oradea, Romania, set to include a state-of-the-art rechargeable battery production facility. Spanning nearly 47,000 square meters on a 147,000-square-meter site, the facility anticipates regular production to kick off in September 2025. By 2028, the ANDREAS STIHL POWER TOOLS SRL plant in Oradea aims to employ approximately 700 individuals.
- June 2023: Belgian firm Avesta Battery & Energy Engineering (ABEE) unveiled its ambitious plan to establish a rechargeable battery plant in Galati, Romania, with an investment of USD 1.53 billion. This venture is set to generate approximately 8,000 jobs. The lithium-ion facility, boasting a production capacity of 22 GWh, will primarily cater to the automotive sector, eyeing partnerships with Renault's Dacia and Ford, while also producing batteries for the energy storage market.
Romania Rechargeable 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, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Increasing Penetration of Renewable Energy
4.5.1.2 Growing Demand for Consumer Electronics
4.5.2 Restraints
4.5.2.1 Supply Chain Constraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
4.8 Investment Analysis
5. MARKET SEGMENTATION
5.1 Technology
5.1.1 Lead Acid
5.1.2 Lithium-Ion
5.1.3 Other Technologies (NiMh, Nicd, etc.)
5.2 Applications
5.2.1 Automotive Batteries
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
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 LG Chem Ltd.
6.3.3 Contemporary Amperex Technology Co Ltd
6.3.4 Exide Technologies
6.3.5 Saft Groupe SA
6.3.6 Tadiran Batteries GmbH
6.3.7 Murata Manufacturing Co., Ltd.
6.3.8 Panasonic Holdings Corporation
6.3.9 Prime Batteries Technology
6.3.10 LUKAS Romania
- *List Not Exhaustive
6.4 List of Other Prominent Companies
6.5 Market Ranking/Share (%) Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Increasing Technological Innovation
Romania Rechargeable Battery Industry Segmentation
A rechargeable battery is a type of battery that can be charged multiple times by passing an electric current through it in the opposite direction of its discharge. This allows the battery to be reused, reducing waste and cost compared to single-use, disposable batteries.
The Romania rechargeable battery market is segmented by technology and applications. By technology, the market is segmented into Lead Acid, Lithium-ion, and Other Technologies (NiMh, Nicd, etc.). By applications, the market is segmented into Automotive Batteries, Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.), Portable Batteries (Consumer Electronics, etc.), and Other Applications. The market sizing and forecasts have been done based on revenue (USD) for each segment.
| Technology | |
| Lead Acid | |
| Lithium-Ion | |
| Other Technologies (NiMh, Nicd, etc.) |
| Applications | |
| Automotive Batteries | |
| Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.) | |
| Portable Batteries (Consumer Electronics, etc.) | |
| Other Applications |
Romania Rechargeable Battery Market Research FAQs
How big is the Romania Rechargeable Battery Market?
The Romania Rechargeable Battery Market size is expected to reach USD 0.88 billion in 2024 and grow at a CAGR of 11.37% to reach USD 1.51 billion by 2029.
What is the current Romania Rechargeable Battery Market size?
In 2024, the Romania Rechargeable Battery Market size is expected to reach USD 0.88 billion.
Who are the key players in Romania Rechargeable Battery Market?
Contemporary Amperex Technology Co. Ltd., LUKAS Romania, Tadiran Batteries GmbH, Panasonic Holdings Corporation and Exide Technologies are the major companies operating in the Romania Rechargeable Battery Market.
What years does this Romania Rechargeable Battery Market cover, and what was the market size in 2023?
In 2023, the Romania Rechargeable Battery Market size was estimated at USD 0.78 billion. The report covers the Romania Rechargeable Battery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Romania Rechargeable Battery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Romania Rechargeable Battery Industry Report
Statistics for the 2024 Romania Rechargeable Battery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Romania Rechargeable Battery analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
