In the STEPS, China, Europe and the United States account for just under 85% of the market in 2030 and just over 80% in 2035, down from 90% today. In the APS, nearly 25% of battery demand is outside today's major markets in 2030, particularly as a result of greater demand in India, Southeast Asia, South America, Mexico and Japan.
The report is a comprehensive presentation of trends, forecast and dollar values of global battery market. The global battery market was valued at USD 104.39 billion in 2022 and is expected to reach USD 382.9 billion in 2030, with a CAGR of 15.42% during the forecast period 2023-2030.
Key growth enablers of the global battery market: A diverse range of batteries are experiencing increased demand for automotive applications, particularly in electric and hybrid vehicles. An automotive battery plays a vital role in a vehicle's powertrain, functioning independently of the gasoline used for propulsion.
We estimate the global battery market will see 30%-40% annual growth in 2024-2025, mainly supported by our anticipated sales growth of electric vehicles (EVs) in China. Fading EV subsidies in Europe and less aggressive emission standard targets in U.S. could moderate EV sales and battery demand growth in these regions during the period.
The global market for Lithium-ion batteries is expanding rapidly. We take a closer look at new value chain solutions that can help meet the growing demand.
This work is independent, reflects the views of the authors, and has not been commissioned by any business, government, or other institution. Global demand for batteries is increasing, driven largely by the imperative to reduce climate change through electrification of mobility and the broader energy transition.
The growing focus on developing efficient battery technologies and active government assistance encouraging the market growth in the region. The major market players such as Tesla Inc., Panasonic Corporation, LG Chem Ltd, Duracell Inc., and Samsung SDI Co. Ltd. are contributing to the growth of battery market in the region.
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As of 2025, there were over 10 thousand solar farms in operation in China with a combined capacity of over 447. * For commercial use only Access limited to Free Statistics. China is the largest market in the world for both photovoltaics (PV) and solar thermal energy. Its PV capacity crossed 1,000 gigawatts (one terawatt, 1 TW) in May 2025. In 2024, China added 277 gigawatts (GW) of solar power. China generates solar-powered energy from 1,316 solar power plants across the country. The Global Solar Power Tracker consists of worldwide facility-level data on utility-scale solar power facilities, as well as country-aggregated distributed solar data. Rapid solar capacity expansion overwhelms the grid, PV manufacturers compete for market shares, and then large target markets slap import tariffs on Chinese PV products, taking off their competitive edge. Policy support and investment have fueled this growth. 3 GW of new PV capacity, a remarkable 147. 5% year-on-year increase, bringing its total cumulative capacity to 609 GW.
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China has pushed the boundaries of solar technology with its latest innovation: a solar panel powered by a “miracle material. ” This new development could redefine global energy production and deliver higher efficiency at a lower cost. The innovation comes from Longi, one of the world's top solar. China's solar power generation overtook wind for the first time last year as a boom in cheap panels continues to reshape the country's grid and climate trajectory. 17 million gigawatt-hours of electricity from solar power in 2025, up 40% on a year earlier, the National Bureau. An aerial drone photo taken on July 29, 2025 shows photovoltaic panels at the site of a desertification control project integrated with wind and solar power facilities in Horqin Right Wing Middle Banner of Hinggan League, north China's Inner Mongolia Autonomous Region. 2 TW and pushing non-fossil power sources past thermal generation for the first time.
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