Secondary Battery Market, By Technology (Lead-acid Battery, Lithium-ion Battery, Other Technologies (NiMh, NiCD, etc.)), By Application, By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa)
Secondary Battery Market size is estimated to be valued at USD 1,28,567.4 Mn in 2025 and is expected to reach USD 2,65,918.2 Mn in 2032, exhibiting a compound annual growth rate (CAGR) of 10.9% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 1,28,567.4 Mn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
10.90%
2032 Value Projection:
USD 2,65,918.2 Mn
Secondary batteries, also known as rechargeable batteries, are used to power portable electronic devices and electric cars. They are also an important part of the global energy storage market. Various rechargeable batteries are available, including lithium-ion, lead-acid, nickel-cadmium and nickel-hydrogen. Lithium-ion batteries are the most mature and popular secondary batteries in the market today, and they have excellent cycle stability and endurance performance.
Lithium-ion batteries are one of the most popular second-generation battery chemistries, and they are used in many portable electronic devices and electric vehicles. They are known for their high capacity and durability, as well as being environmentally friendly s they do not carry toxins like cadmium, lead, and mercury.
Market Dynamics:
The increasing demand for fuel-efficient and environmentally friendly vehicles is anticipated to fuel growth of the global secondary battery market. Increasing investments in battery technologies, such as flow cell batteries, are expected to provide new opportunities for the secondary battery industry in the future.
However, rising production costs, decreased lithium-ion battery prices, and environmental concerns are expected to hinder growth of the global secondary battery market over the forecast period.
Key features of the study:
This report provides in-depth analysis of the global secondary battery market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period 2025-2032, considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global secondary battery market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include TianJin Lishen Battery Joint-Stock Co. Ltd., BYD Co. Ltd., Tesla Incorporation, Contemporary Amperex Technology Co. Limited, Showa Denko K.K., Duracell Inc., Samsung SDI, EnerSys, Saft Groupe SA, GS Yuasa Corporation, Panasonic Corporation, Clarios, and LG Chem Ltd.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global secondary battery market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global secondary battery market
Detailed Segmentation:
Global Secondary Battery Market, By Technology
Lead-acid Battery
Lithium-ion Battery
Other Technologies
NiMh
NiCD
Global Secondary Battery Market, By Application
Automotive Batteries
HEV
PHEV
EV
Industrial Batteries
Motive
Stationary
Telecom
UPS
Energy Storage Systems (ESS)
Portable Batteries
Consumer Electronics
Other Applications
Power Tools Batteries
SLI Batteries
Global Secondary Battery Market, By Geography
North America
Asia-Pacific
Europe
Middle East & Africa
Latin America
Company Profiles
BYD Co. Ltd
Contemporary Amperex Technology Co. Limited
Duracell Inc.
EnerSys
GS Yuasa Corporation
Clarios
LG Chem Ltd
Panasonic Corporation
Saft Groupe SA
Samsung SDI
Showa Denko K.K.
Tesla Incorporation
TianJin Lishen Battery Joint-Stock Co. Ltd.
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snapshot, By Technology
Market Snapshot, By Application
Market Snapshot, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Declining cost of lithium-ion battery
Rise in adoption of Electric Vehicles
Restraints
Mismatch demand and supply of raw materials
Stringent government regulations
Opportunities
Growing use of AI in research and development of batteries
Impact Analysis
Key Highlights
Regulatory Scenario
Product launch/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario
4. Global Secondary Battery Market - Impact of Coronavirus (COVID-19) Pandemic
COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact
5. Global Secondary Battery Market , By Technology, 2020-2032, (US$ Mn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Lead-acid Battery
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Mn)
Lithium-ion Battery
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Mn)
Other Technologies
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Mn)
NiMh
NiCD
6. Global Secondary Battery Market , By Application, 2020-2032, (US$ Mn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Automotive Batteries (HEV, PHEV, and EV)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
Portable Batteries (Consumer Electronics, etc.)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
Other Applications (Power Tools Batteries, SLI Batteries, etc.)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
7. Global Secondary Battery Market , By Region, 2020-2032, (US$ Mn)
Introduction
Market Share Analysis, By Country, 2025 and 2032 (%)
Y-o-Y Growth Analysis, For Country 2021-2032
Country Trends
North America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Technology, 2020-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(US$ Mn)
Europe
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Technology, 2020-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(US$ Mn)
Asia Pacific
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Technology, 2020-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(US$ Mn)
Latin America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Technology, 2020-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(US$ Mn)
Middle East & Africa
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Technology, 2020-2032,(US$ Mn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032,(US$ Mn)