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Secondary Battery Market Size, Share, Trends and Forecast by Type, Application, Industry Vertical, and Region, 2025-2033- Product Image
Secondary Battery Market Size, Share, Trends and Forecast by Type, Application, Industry Vertical, and Region, 2025-2033- Product Image
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Secondary Battery Market Size, Share, Trends and Forecast by Type, Application, Industry Vertical, and Region, 2025-2033

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    Report

  • 136 Pages
  • May 2025
  • Region: Global
  • IMARC Group
  • ID: 5578091
Description Jump to:
The global secondary battery market size was valued at USD 127.86 Billion in 2024. Looking forward, the market is forecast to reach USD 276.83 Billion by 2033, exhibiting a CAGR of 8.51% from 2025-2033. Asia Pacific currently dominates the market, holding a secondary battery market share of over 46.8% in 2024. The secondary battery market is expanding due to the growing adoption of electric vehicles (EVs), energy storage solutions for renewable energy integration, and consumer electronics. Innovations in battery technology, increasing environmental awareness, and favorable government policies are also key drivers of market growth. Expanding industrial applications and grid modernization also contribute significantly to market expansion.

Secondary batteries are accumulators or rechargeable batteries that store chemical energy and convert it into electrical energy depending on the requirement. These batteries are economical and offer high power density, reasonable discharge rate, and low-temperature performance than primary batteries. As a result, they are used to power electronic devices, cellular phones, and hybrid electric vehicles (HEVs). At present, several manufacturers are introducing novel secondary batteries, such as a flow cell battery that allows large-scale (GWh) energy storage using wide basins at a low price.

Secondary Battery Market Trends:

The boosting sales of portable electronic devices, such as mobiles, speakers, and laptops, due to the escalating internet penetration and rising purchasing capacity of consumers worldwide represent one of the key factors strengthening the growth of the market. Moreover, the emerging trend of electric vehicles (EVs) on account of the rising awareness among individuals about greenhouse gas (GHG) emissions associated with conventional automobiles is contributing to the market growth. This can also be accredited to tax incentives and subsidies offered by governments of several countries to EV manufacturers. Apart from this, increasing investments in renewable energy, the rising need for efficient energy storage devices, and low maintenance costs of secondary batteries are other significant factors driving the market. In addition to this, the growing energy consumption worldwide due to rapid urbanization and increasing instances of frequent power supply interruptions is catalyzing the demand for secondary batteries for power backup. Besides this, as secondary batteries allow ultra-fast charging with minimal stress and provide high specific energy, they are gaining widespread adoption in power tools, medical devices, aviation, and industrial applications around the world.

Market Segmentation:

This report provides an analysis of the key trends in each segment of the global secondary battery market, along with forecast at the global, regional, and country levels from 2025-2033. The market has been categorized based on type, application, and industry vertical.

Breakup by Type:

  • Lead Acid
  • Lithium-Ion (Li-ion)
  • Nickel Metal Hydride
  • Others

Breakup by Application:

  • Electronics
  • Motor Vehicles
  • Industrial Batteries
  • Portables Devices
  • Others

Breakup by Industry Vertical:

  • Chemical and Petrochemical
  • Oil and Gas
  • Energy and Power
  • Automotive
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amperex Technology Limited (TDK Corporation), Byd Company Limited, Duracell Inc. (Berkshire Hathaway Inc.), Energizer Holdings Inc., EnerSys, LG Chem Ltd., Panasonic Corporation, Saft (TotalEnergies SE), Samsung SDI Co. Ltd., Showa Denko K. K., Sony Group Corporation and Tianjin Lishen Battery Joint-Stock Co. Ltd.

Key Questions Answered in This Report

1. How big is the secondary battery market?
2. What is the future outlook of secondary battery market?
3. What are the key factors driving the secondary battery market?
4. Which region accounts for the largest secondary battery market share?
5. Which are the leading companies in the global secondary battery market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Secondary Battery Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Lead Acid
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Lithium-Ion (Li-ion)
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Nickel Metal Hydride
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Application
7.1 Electronics
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Motor Vehicles
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Industrial Batteries
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Portables Devices
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Industry Vertical
8.1 Chemical and Petrochemical
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Oil and Gas
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Energy and Power
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Automotive
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Amperex Technology Limited (TDK Corporation)
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.2 Byd Company Limited
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Duracell Inc. (Berkshire Hathaway Inc.)
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Energizer Holdings Inc.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 EnerSys
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 LG Chem Ltd.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Panasonic Corporation
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Saft (TotalEnergies SE)
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Samsung SDI Co. Ltd.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Showa Denko K. K.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Sony Group Corporation
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Tianjin Lishen Battery Joint-Stock Co. Ltd.
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Secondary Battery Market: Major Drivers and Challenges
Figure 2: Global: Secondary Battery Market: Sales Value (in Billion USD), 2019-2024
Figure 3: Global: Secondary Battery Market Forecast: Sales Value (in Billion USD), 2025-2033
Figure 4: Global: Secondary Battery Market: Breakup by Type (in %), 2024
Figure 5: Global: Secondary Battery Market: Breakup by Application (in %), 2024
Figure 6: Global: Secondary Battery Market: Breakup by Industry Vertical (in %), 2024
Figure 7: Global: Secondary Battery Market: Breakup by Region (in %), 2024
Figure 8: Global: Secondary Battery (Lead Acid) Market: Sales Value (in Million USD), 2019 & 2024
Figure 9: Global: Secondary Battery (Lead Acid) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 10: Global: Secondary Battery (Lithium-Ion (Li-ion)) Market: Sales Value (in Million USD), 2019 & 2024
Figure 11: Global: Secondary Battery (Lithium-Ion (Li-ion)) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 12: Global: Secondary Battery (Nickel Metal Hydride) Market: Sales Value (in Million USD), 2019 & 2024
Figure 13: Global: Secondary Battery (Nickel Metal Hydride) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 14: Global: Secondary Battery (Other Types) Market: Sales Value (in Million USD), 2019 & 2024
Figure 15: Global: Secondary Battery (Other Types) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 16: Global: Secondary Battery (Electronics) Market: Sales Value (in Million USD), 2019 & 2024
Figure 17: Global: Secondary Battery (Electronics) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 18: Global: Secondary Battery (Motor Vehicles) Market: Sales Value (in Million USD), 2019 & 2024
Figure 19: Global: Secondary Battery (Motor Vehicles) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 20: Global: Secondary Battery (Industrial Batteries) Market: Sales Value (in Million USD), 2019 & 2024
Figure 21: Global: Secondary Battery (Industrial Batteries) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 22: Global: Secondary Battery (Portables Devices) Market: Sales Value (in Million USD), 2019 & 2024
Figure 23: Global: Secondary Battery (Portables Devices) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 24: Global: Secondary Battery (Other Applications) Market: Sales Value (in Million USD), 2019 & 2024
Figure 25: Global: Secondary Battery (Other Applications) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 26: Global: Secondary Battery (Chemical and Petrochemical) Market: Sales Value (in Million USD), 2019 & 2024
Figure 27: Global: Secondary Battery (Chemical and Petrochemical) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 28: Global: Secondary Battery (Oil and Gas) Market: Sales Value (in Million USD), 2019 & 2024
Figure 29: Global: Secondary Battery (Oil and Gas) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 30: Global: Secondary Battery (Energy and Power) Market: Sales Value (in Million USD), 2019 & 2024
Figure 31: Global: Secondary Battery (Energy and Power) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 32: Global: Secondary Battery (Automotive) Market: Sales Value (in Million USD), 2019 & 2024
Figure 33: Global: Secondary Battery (Automotive) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 34: Global: Secondary Battery (Other Industry Verticals) Market: Sales Value (in Million USD), 2019 & 2024
Figure 35: Global: Secondary Battery (Other Industry Verticals) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 36: North America: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 37: North America: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 38: United States: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 39: United States: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 40: Canada: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 41: Canada: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 42: Asia-Pacific: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 43: Asia-Pacific: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 44: China: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 45: China: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 46: Japan: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 47: Japan: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 48: India: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 49: India: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 50: South Korea: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 51: South Korea: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 52: Australia: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 53: Australia: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 54: Indonesia: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 55: Indonesia: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 56: Others: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 57: Others: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 58: Europe: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 59: Europe: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 60: Germany: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 61: Germany: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 62: France: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 63: France: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 64: United Kingdom: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 65: United Kingdom: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 66: Italy: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 67: Italy: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 68: Spain: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 69: Spain: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 70: Russia: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 71: Russia: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 72: Others: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 73: Others: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 74: Latin America: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 75: Latin America: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 76: Brazil: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 77: Brazil: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 78: Mexico: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 79: Mexico: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 80: Others: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 81: Others: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 82: Middle East and Africa: Secondary Battery Market: Sales Value (in Million USD), 2019 & 2024
Figure 83: Middle East and Africa: Secondary Battery Market: Breakup by Country (in %), 2024
Figure 84: Middle East and Africa: Secondary Battery Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 85: Global: Secondary Battery Industry: SWOT Analysis
Figure 86: Global: Secondary Battery Industry: Value Chain Analysis
Figure 87: Global: Secondary Battery Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Secondary Battery Market: Key Industry Highlights, 2024 and 2033
Table 2: Global: Secondary Battery Market Forecast: Breakup by Type (in Million USD), 2025-2033
Table 3: Global: Secondary Battery Market Forecast: Breakup by Application (in Million USD), 2025-2033
Table 4: Global: Secondary Battery Market Forecast: Breakup by Industry Vertical (in Million USD), 2025-2033
Table 5: Global: Secondary Battery Market Forecast: Breakup by Region (in Million USD), 2025-2033
Table 6: Global: Secondary Battery Market: Competitive Structure
Table 7: Global: Secondary Battery Market: Key Players

Companies Mentioned

  • Amperex Technology Limited (TDK Corporation)
  • Byd Company Limited
  • Duracell Inc. (Berkshire Hathaway Inc.)
  • Energizer Holdings Inc.
  • EnerSys
  • LG Chem Ltd.
  • Panasonic Corporation
  • Saft (TotalEnergies SE)
  • Samsung SDI Co. Ltd.
  • Showa Denko K. K.
  • Sony Group Corporation and Tianjin Lishen Battery Joint-Stock Co. Ltd.

Methodology

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Table Information

Report AttributeDetails
No. of Pages136
PublishedMay 2025
Forecast Period2024 - 2033
Estimated Market Value ( USD ) in 2024 $ 127.86 Billion
Forecasted Market Value ( USD ) by 2033 $ 276.83 Billion
Compound Annual Growth Rate9.0%
Regions CoveredGlobal
No. of Companies Mentioned11

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