Summary

Triton Market Research’s report suggests that the Europe battery market is expected to register growth at a CAGR of 15.52% during the forecast period 2024-2032.

As the initiator of the Paris Climate Agreement, Europe has led the shift from internal combustion vehicles to electric vehicles, widening the scope for battery technology in the automotive industry. A variety of vehicles now feature increased hybridization and electrification, including plug-in hybrid electric vehicles, hybrid electric vehicles, and electric vehicles. For instance, as noted by IEA, new electric car registrations in the region reached nearly 3.2 million in 2023, marking a 20% increase from 2022. In the European Union, sales totaled 2.4 million, reflecting similar growth. Hence, the expanding automotive industry in the region is expected to drive the battery market growth in the coming years.
The countries evaluated in this region include UK, Germany, Belgium, Spain, France, and Rest of Europe.

Germany leads the regional battery market, attaining $7966.35 million in 2023
• Germany is a leading producer of electric vehicles in Europe, accounting for nearly 50% of the region’s EV production in 2023, as per IEA. The country produced a substantial share of Europe’s EV batteries, mainly driven by the increasing demand for electric cars and other applications like stationary storage systems.

• The market for energy storage systems in Germany has been expanding significantly as part of the country’s energy transition strategy. According to the German Energy Storage System Association (BVES), in 2023, the ESS industry recorded an overall growth of 46% compared to 2022, registering sales of EUR 15.7 billion.

• This growth is driven by the need to store surplus energy produced during off-peak hours for use during peak demand, balancing supply and demand in the renewable energy sector. Integrating battery storage systems is essential to manage the variability of renewable energy sources, ensuring a stable and reliable energy supply.

Market Forecast for France
The battery market in France is witnessing significant growth, boosted by substantial government investments and policy support. The nation is focused on enhancing its electric vehicle (EV) production capabilities, contributing to nearly 10% of Europe’s EV production in 2023. The government has implemented various measures to support this growth, including investments in renewable energy and energy storage systems as part of its broader energy transition goals. For instance, France aims to achieve a substantial increase in the share of renewable energy in its total energy consumption, targeting around 50% by 2030.
The market report is branched into end-use, technology, and battery type. The end-use section includes automotive, portable, industrial, power tools, SLI, and other end-uses.
Various types of batteries are now extensively utilized in the automotive sector, including those for hybrid and electric vehicles. Automotive batteries provide power to a vehicle’s electrical systems when the engine is not running. They also play a crucial role in starting the engine by supplying current to the electric starter motor and ignition system. Additionally, the starting, lighting, and ignition (SLI) applications in the automotive industry have significantly increased the demand for batteries in vehicles.

Contender Analysis in the Battery Market:
Exide Technologies manufactures a diverse range of lead and electric storage batteries, catering to various industries, including automotive, aviation, power generation, transportation, and telecommunications. The company is a leader in secondary recycling, offering Total Battery Management (or “closed loop recycling”), a service that relieves customers from managing spent batteries independently. Founded in 1888 and headquartered in France, Exide operates extensively across multiple regions, including Europe.

In July 2024, Exide Technologies introduced the Solition Mega Three at ees Europe. This advanced energy storage system features a compact design, 3.4 MWh capacity, and liquid-cooled components, suitable for front-of-the-meter and behind-the-meter usages.
The other well-known companies in the battery market include BYD Company Limited, Saft Groupe SA, Enersys, and C&D Technologies Inc.

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Table of Contents

TABLE OF CONTENTS
1. EUROPE BATTERY MARKET - SUMMARY
2. INDUSTRY OUTLOOK
2.1. IMPACT ANALYSIS ON THE BATTERY MARKET
2.1.1. COVID-19 IMPACT
2.2. PORTER’S FIVE FORCES ANALYSIS
2.2.1. THREAT OF NEW ENTRANTS
2.2.2. THREAT OF SUBSTITUTES
2.2.3. BARGAINING POWER OF BUYERS
2.2.4. BARGAINING POWER OF SUPPLIERS
2.2.5. THREAT OF COMPETITIVE RIVALRY
2.3. MARKET ATTRACTIVENESS INDEX
2.4. REGULATORY FRAMEWORK
2.5. KEY BUYING IMPACT ANALYSIS
2.5.1. ENERGY DENSITY
2.5.2. BATTERY MEMORY
2.5.3. LIFETIME
2.5.4. DURABILITY
2.6. SUPPLY CHAIN ANALYSIS
2.6.1. RAW MATERIAL
2.6.2. MANUFACTURING & ASSEMBLY
2.6.3. DISTRIBUTION
2.6.4. END-USER APPLICATIONS
2.6.5. AFTER-SALES SERVICES
2.6.6. RECYCLING
2.7. KEY MARKET STRATEGIES
2.7.1. COLLABORATIONS
2.7.2. PRODUCT LAUNCHES
2.7.3. ACQUISITIONS
2.7.4. INVESTMENTS & EXPANSIONS
2.8. MARKET DRIVERS
2.8.1. INCREASING POPULARITY OF CONSUMER ELECTRONICS
2.8.2. GOVERNMENT INCENTIVES TO MANUFACTURE EV BATTERY
2.8.3. HIGH BATTERY DEMAND FOR AUTOMOTIVE APPLICATIONS, PRIMARILY FROM EVS
2.9. MARKET CHALLENGES
2.9.1. ISSUES RELATED TO BATTERY RECYCLING
2.9.2. SAFETY CONCERNS ASSOCIATED WITH BATTERY USE
2.9.3. VOLATILITY IN RAW MATERIAL PRICES
2.10. MARKET OPPORTUNITIES
2.10.1. INCREASING ATTENTION TO SECOND-LIFE BATTERY USES
2.10.2. RISING DEMAND FOR LARGER BATTERY PACKS
2.10.3. DEVELOPMENTS IN BATTERY TECHNOLOGIES
2.11. ANALYST PERSPECTIVE
3. EUROPE BATTERY MARKET – BY BATTERY TYPE
3.1. PRIMARY BATTERY
3.2. SECONDARY BATTERY
4. EUROPE BATTERY MARKET – BY TECHNOLOGY
4.1. LEAD-ACID
4.2. LITHIUM-ION
4.3. NICKEL-CADMIUM
4.4. NICKEL METAL HYDRIDE
4.5. NICKEL-ZINC (NIZN)
4.6. FLOW
4.7. SODIUM-SULFUR (NAS)
4.8. ZINC-MANGANESE DIOXIDE
4.9. SMALL SEALED LEAD-ACID
4.10. OTHER TECHNOLOGIES
5. EUROPE BATTERY MARKET – BY END-USE
5.1. AUTOMOTIVE BATTERIES
5.2. INDUSTRIAL BATTERIES
5.3. PORTABLE BATTERIES
5.4. POWER TOOLS BATTERIES
5.5. SLI BATTERIES
5.6. OTHER END-USES
6. EUROPE BATTERY MARKET – BY COUNTRY OUTLOOK
6.1. UNITED KINGDOM
6.1.1. UNITED KINGDOM BATTERY MARKET FORECAST & PROSPECTS
6.2. GERMANY
6.2.1. GERMANY BATTERY MARKET FORECAST & PROSPECTS
6.3. FRANCE
6.3.1. FRANCE BATTERY MARKET FORECAST & PROSPECTS
6.4. ITALY
6.4.1. ITALY BATTERY MARKET FORECAST & PROSPECTS
6.5. SPAIN
6.5.1. SPAIN BATTERY MARKET FORECAST & PROSPECTS
6.6. REST OF EUROPE
6.6.1. REST OF EUROPE BATTERY MARKET FORECAST & PROSPECTS
7. COMPETITIVE LANDSCAPE
7.1. GS YUASA INTERNATIONAL LTD
7.1.1. OVERVIEW
7.1.2. PORTFOLIO
7.1.3. KEY STRENGTH
7.1.4. KEY CHALLENGE
7.2. JOHNSON CONTROLS INC
7.2.1. OVERVIEW
7.2.2. PORTFOLIO
7.2.3. KEY STRENGTH
7.2.4. KEY CHALLENGE
7.3. PANASONIC CORPORATION
7.3.1. OVERVIEW
7.3.2. PORTFOLIO
7.3.3. KEY STRENGTHS
7.3.4. KEY CHALLENGES
7.4. SAMSUNG SDI CO LTD
7.4.1. OVERVIEW
7.4.2. PORTFOLIO
7.4.3. KEY STRENGTH
7.4.4. KEY CHALLENGE
7.5. A123 SYSTEMS LLC
7.5.1. OVERVIEW
7.5.2. PORTFOLIO
7.5.3. KEY STRENGTH
7.5.4. KEY CHALLENGES
7.6. EXIDE TECHNOLOGIES
7.6.1. OVERVIEW
7.6.2. PORTFOLIO
7.6.3. KEY STRENGTH
7.6.4. KEY CHALLENGE
7.7. ENERSYS
7.7.1. OVERVIEW
7.7.2. PORTFOLIO
7.7.3. KEY STRENGTH
7.7.4. KEY CHALLENGES
7.8. BYD COMPANY LIMITED
7.8.1. OVERVIEW
7.8.2. PORTFOLIO
7.8.3. KEY STRENGTH
7.8.4. KEY CHALLENGE
7.9. C&D TECHNOLOGIES INC
7.9.1. OVERVIEW
7.9.2. PORTFOLIO
7.9.3. KEY STRENGTHS
7.9.4. KEY CHALLENGE
7.10. SAFT GROUPE SA
7.10.1. OVERVIEW
7.10.2. PORTFOLIO
7.10.3. KEY STRENGTH
7.10.4. KEY CHALLENGE
8. RESEARCH METHODOLOGY & SCOPE
8.1. RESEARCH SCOPE & DELIVERABLES
8.2. SOURCES OF DATA
8.3. RESEARCH METHODOLOGY

TABLE LIST
TABLE 1: EUROPE BATTERY MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)
TABLE 2: REGULATORY FRAMEWORK
TABLE 3: LIST OF COLLABORATIONS
TABLE 4: LIST OF PRODUCT LAUNCHES
TABLE 5: LIST OF ACQUISITIONS
TABLE 6: LIST OF INVESTMENTS & EXPANSIONS
TABLE 7: EUROPE BATTERY MARKET, BY BATTERY TYPE, 2024-2032 (IN $ MILLION)
TABLE 8: EUROPE BATTERY MARKET, BY TECHNOLOGY, 2024-2032 (IN $ MILLION)
TABLE 9: EUROPE BATTERY MARKET, BY END-USE, 2024-2032 (IN $ MILLION)
TABLE 10: EUROPE BATTERY MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $ MILLION)

FIGURE LIST
FIGURE 1: PORTER’S FIVE FORCES ANALYSIS
FIGURE 2: MARKET ATTRACTIVENESS INDEX
FIGURE 3: KEY BUYING IMPACT ANALYSIS
FIGURE 4: SUPPLY CHAIN ANALYSIS
FIGURE 5: EUROPE BATTERY MARKET, BY BATTERY TYPE, 2023 & 2032 (IN %)
FIGURE 6: EUROPE BATTERY MARKET, BY PRIMARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 7: EUROPE BATTERY MARKET, BY SECONDARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 8: EUROPE BATTERY MARKET, BY TECHNOLOGY, 2023 & 2032 (IN %)
FIGURE 9: EUROPE BATTERY MARKET, BY LEAD-ACID, 2024-2032 (IN $ MILLION)
FIGURE 10: EUROPE BATTERY MARKET, BY LITHIUM-ION, 2024-2032 (IN $ MILLION)
FIGURE 11: EUROPE BATTERY MARKET, BY NICKEL-CADMIUM, 2024-2032 (IN $ MILLION)
FIGURE 12: EUROPE BATTERY MARKET, BY NICKEL METAL HYDRIDE, 2024-2032 (IN $ MILLION)
FIGURE 13: EUROPE BATTERY MARKET, BY NICKEL-ZINC (NIZN), 2024-2032 (IN $ MILLION)
FIGURE 14: EUROPE BATTERY MARKET, BY FLOW, 2024-2032 (IN $ MILLION)
FIGURE 15: EUROPE BATTERY MARKET, BY SODIUM-SULFUR (NAS), 2024-2032 (IN $ MILLION)
FIGURE 16: EUROPE BATTERY MARKET, BY ZINC-MANGANESE DIOXIDE, 2024-2032 (IN $ MILLION)
FIGURE 17: EUROPE BATTERY MARKET, BY SMALL SEALED LEAD-ACID, 2024-2032 (IN $ MILLION)
FIGURE 18: EUROPE BATTERY MARKET, BY OTHER TECHNOLOGIES, 2024-2032 (IN $ MILLION)
FIGURE 19: EUROPE BATTERY MARKET, BY END-USE, 2023 & 2032 (IN %)
FIGURE 20: EUROPE BATTERY MARKET, BY AUTOMOTIVE BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 21: EUROPE BATTERY MARKET, BY INDUSTRIAL BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 22: EUROPE BATTERY MARKET, BY PORTABLE BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 23: EUROPE BATTERY MARKET, BY POWER TOOLS BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 24: EUROPE BATTERY MARKET, BY SLI BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 25: EUROPE BATTERY MARKET, BY OTHER END-USES, 2024-2032 (IN $ MILLION)
FIGURE 26: EUROPE BATTERY MARKET, BY COUNTRY OUTLOOK, 2023 & 2032 (IN %)
FIGURE 27: UNITED KINGDOM BATTERY MARKET 2024-2032 (IN $ MILLION)
FIGURE 28: GERMANY BATTERY MARKET 2024-2032 (IN $ MILLION)
FIGURE 29: FRANCE BATTERY MARKET 2024-2032 (IN $ MILLION)
FIGURE 30: ITALY BATTERY MARKET 2024-2032 (IN $ MILLION)
FIGURE 31: SPAIN BATTERY MARKET 2024-2032 (IN $ MILLION)
FIGURE 32: REST OF EUROPE BATTERY MARKET 2024-2032 (IN $ MILLION)