Europe: industrial battery market by type 2023-2031

Lead acid batteries dominated the European industrial battery market in 2023, with a value of 1.63 billion U.S. dollars. That same year, Europe's industrial lithium-based battery market was valued at some 923 million U.S. dollars. Altogether, the market value of industrial batteries in Europe stood at 2.86 billion U.S. dollars. This is forecast to increase over the next decade, as lead acid and lithium-based batteries would reach a market value of 2.33 and 1.62 billion U.S. dollars by the year 2031, respectively.

More information on the global industrial battery market can be found here.

Market value of batteries for industrial applications in Europe in 2023, with a forecast until 2031, by chemistry (in million U.S. dollars)

Characteristic	Lead Acid	Lithium-Based	Others
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-

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Release date

February 2024

More information

Region

Europe

Survey time period

2023

Supplementary notes

* Forecast based on a CAGR of 7.39 percent for lithium-based batteries, 4.67 percent for lead acid batteries, and 7.41 percent for other batteries in the period from 2024 to 2031.

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