The global market for next-generation advanced batteries is estimated to grow from $1.5 billion in 2024 to reach $5.3 billion by the end of 2029, at a compound annual growth rate (CAGR) of 28.5% from 2024 through 2029.
Sodium-ion batteries (SIBs), solid state batteries (SSBs), flow batteries, and other varieties (metal-air batteries, lithium-sulfur batteries, magnesium-ion batteries, smart nano batteries) are considered nextgeneration advanced batteries. The batteries are becoming an alternative to lithium ion batteries (LIBs) due to their high energy density and easy access to many raw materials. As sodium is the sixth most common element in the world, its use significantly lowers the supply chain risks and geopolitical concerns that come with lithium. During charging and discharging cycles, sodium ions move back and forth between the anode and the cathode, making these batteries work like LIBs.
A flow battery is a rechargeable battery wherein the liquid electrolytes, stored separately, flow into the central cell, which reacts in the charging and discharging phases. These batteries are typically used for storing renewable sources of energy, notably solar and wind energy. SSBs enhance the overall performance of EVs, medical devices and battery-powered industrial systems by enabling high energy density, improved safety features, faster charging times and increased battery life compared with conventional battery systems.
The report further focuses on ESG developments and macro-economic factors. Geographic regions include North America, Europe, Asia-Pacific and the Rest of the World (South America, the Middle East and Africa). It concludes with profiles of the leading companies in the next-generation advanced batteries market.
The base year of this report is 2023, and the estimated year is 2024. Market values ($ million) are forecasted until the end of 2029.
Sodium-ion batteries (SIBs), solid state batteries (SSBs), flow batteries, and other varieties (metal-air batteries, lithium-sulfur batteries, magnesium-ion batteries, smart nano batteries) are considered nextgeneration advanced batteries. The batteries are becoming an alternative to lithium ion batteries (LIBs) due to their high energy density and easy access to many raw materials. As sodium is the sixth most common element in the world, its use significantly lowers the supply chain risks and geopolitical concerns that come with lithium. During charging and discharging cycles, sodium ions move back and forth between the anode and the cathode, making these batteries work like LIBs.
A flow battery is a rechargeable battery wherein the liquid electrolytes, stored separately, flow into the central cell, which reacts in the charging and discharging phases. These batteries are typically used for storing renewable sources of energy, notably solar and wind energy. SSBs enhance the overall performance of EVs, medical devices and battery-powered industrial systems by enabling high energy density, improved safety features, faster charging times and increased battery life compared with conventional battery systems.
Report Scope
This report analyzes the global next-generation advanced batteries market and examines the end use of these batteries within various industries. It also includes emerging technologies and developments, upcoming trends, the competitive landscape, market dynamics, and a patent analysis of the market.The report further focuses on ESG developments and macro-economic factors. Geographic regions include North America, Europe, Asia-Pacific and the Rest of the World (South America, the Middle East and Africa). It concludes with profiles of the leading companies in the next-generation advanced batteries market.
The base year of this report is 2023, and the estimated year is 2024. Market values ($ million) are forecasted until the end of 2029.
The report includes:
- 33 data tables and 48 additional tables
- A review of the global market for next-generation advanced batteries
- Analyses of the global market trends, with sales data for 2023, 2024, estimates for 2025, forecasts for 2028, and projections of compound annual growth rates (CAGRs) through 2029
- Evaluation and forecast of the global market for next-generation advanced batteries, and a corresponding market share analysis by type, end use industry and region
- A look at emerging technological trends, and the opportunities and gaps in current and future demand for next-generation advanced batteries
- Information on the latest developments in next-generation advanced batteries and new industry research and economic trends
- Coverage of evolving technologies, the current and future market potential, R&D activities, growth strategies, regulatory framework and reimbursement scenarios, and ESG trends of the market
- Analysis of the key companies’ market shares and their proprietary technologies, strategic alliances, and patent portfolios
- Profiles of the companies, including Contemporary Amperex Technology Co. Ltd. (CATL), HiNa Battery Technology Co. Ltd., LG Energy Solution, QuantumScape Battery Inc., and Sumitomo Electric Industries Ltd.
Table of Contents
Chapter 1 Executive Summary
Chapter 2 Market Overview
Chapter 3 Market Dynamics
Chapter 4 Emerging Technologies and Developments
Chapter 5 Market Segmentation Analysis
Chapter 6 Competitive Landscape
Chapter 7 Sustainability in the Next-Generation Advanced Batteries Market: An ESG Perspective
Chapter 8 Appendix
List of Tables
List of Figures
Companies Mentioned
- Blue Solutions SAS
- Contemporary Amperex Technology Co. Ltd.
- ESS Tech Inc.
- Faradion
- Hina Battery Technology Co. Ltd.
- Ilika
- Invinity Energy Systems
- LG Energy Solution
- Natron Energy Inc.
- NGK Insulators Ltd.
- Panasonic Energy Co. Ltd.
- Primus Power Solutions
- QuantumScape Battery Inc.
- SK On Co. Ltd.
- Sumitomo Electric Industries Ltd.
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 118 |
Published | May 2025 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 1.5 Billion |
Forecasted Market Value ( USD | $ 5.3 Billion |
Compound Annual Growth Rate | 28.5% |
Regions Covered | Global |
No. of Companies Mentioned | 15 |