Market Size of South Europe Battery Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Europe Battery Market Analysis
The South Europe Battery Market is expected to register a CAGR of over 3% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market is likely to reach pre-pandemic levels.
- Over the medium term, the reduction in the cost of lithium-ion batteries and the adaptation of energy storage systems are expected to drive the market's growth.
- On the other hand, the increasing prices of raw materials and minerals used for manufacturing batteries are expected to hamper the South Europe Battery Market growth during the forecast period.
- Nevertheless, new-generation batteries such as lithium-sulfur and solid-state are likely to create lucrative growth opportunities for the South Europe battery market in the forecast period.
- Italy dominates the market and is likely to witness the highest CAGR during the forecast period. This growth is attributed to the increasing dependency on renewable energy power generation.
South Europe Battery Industry Segmentation
A battery is a device that converts chemical energy contained within its active materials directly into electric energy utilizing an electrochemical oxidation-reduction (redox) reaction. This type of reaction involves the transfer of electrons from one material to another via an electric circuit.
The South Europe Battery Market is segmented by type, technology, application, and geography. By type, the market is segmented into primary battery and secondary battery. By technology, the market is segmented into lithium-ion battery, lead-acid battery, flow battery, and others. By application, the market is segmented into automotive, industrial, portable, and others. The report also covers the market size and forecasts for the South Europe Battery Market across major countries. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).
| Type | |
| Primary Battery | |
| Secondary Battery |
| Technology | |
| Lithium-ion Battery | |
| Lead-acid Battery | |
| Flow Battery | |
| Others |
| Application | |
| Automotive | |
| Industrial | |
| Portable | |
| Others |
| Geography | |
| Italy | |
| Greece | |
| Portugal | |
| Spain | |
| Others |
South Europe Battery Market Size Summary
The South Europe Battery Market is poised for growth, driven by the decreasing costs of lithium-ion batteries and the adoption of energy storage systems. Despite the challenges posed by rising raw material costs, the market is expected to benefit from the emergence of new-generation batteries like lithium-sulfur and solid-state technologies. Italy is a key player in this market, with significant growth anticipated due to its increasing reliance on renewable energy sources. The country's efforts to phase out coal power and expand its electric vehicle market are expected to further bolster battery demand. Additionally, the telecommunications sector's expansion and the establishment of new battery manufacturing facilities, such as Italvolt's planned EV battery plant, are set to contribute to Italy's market dominance.
The demand for lithium-ion batteries, particularly for electric vehicles, is a major driver in the region, with countries like Italy and Greece targeting substantial solar energy installations by 2030. Portugal's position as a leading lithium producer in Europe, coupled with initiatives like the joint venture between Northvolt and Galp, underscores the region's strategic importance in battery production. The fragmented nature of the market sees major players like Toshiba Corp, Contemporary Amperex Technology Co. Limited, and BYD Company Ltd actively participating in the region. Recent developments, such as CALB's plans to establish a factory in Portugal and InoBat's collaboration with Spain, highlight the ongoing investments and strategic partnerships aimed at enhancing the South Europe Battery Market's capacity and capabilities.
South Europe Battery Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Threat of New Entrants
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1.7.2 Bargaining Power of Consumers
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1.7.3 Bargaining Power of Suppliers
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Primary Battery
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2.1.2 Secondary Battery
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2.2 Technology
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2.2.1 Lithium-ion Battery
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2.2.2 Lead-acid Battery
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2.2.3 Flow Battery
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2.2.4 Others
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2.3 Application
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2.3.1 Automotive
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2.3.2 Industrial
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2.3.3 Portable
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2.3.4 Others
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2.4 Geography
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2.4.1 Italy
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2.4.2 Greece
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2.4.3 Portugal
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2.4.4 Spain
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2.4.5 Others
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South Europe Battery Market Size FAQs
What is the current South Europe Battery Market size?
The South Europe Battery Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in South Europe Battery Market?
Toshiba Corp, Contemporary Amperex Technology Co. Limited , Panasonic Corporation, Duracell Inc. and BYD Company Ltd are the major companies operating in the South Europe Battery Market.
