Global market value of batteries for industrial applications 2023-2031, by country
China dominated the industrial battery market worldwide, with a market value of 4.58 billion U.S. dollars in 2023. The East Asian country is forecast to remain the top player, with figures surpassing eight billion U.S. dollars in 2031. Meanwhile, the United States had the second-largest market value in 2023, but this is estimated to change in the upcoming years, as Japan would overtake the North American country by the end of the period.
More information on the global industrial battery market can be found here.