With 21.5% CAGR, Battery Production Machine Market Growth to Surpass USD 19.4 billion

The global battery production machine market size is anticipated to grow from USD 7.3 billion in 2022 to USD 19.4 billion by 2027, at a CAGR of 21.5% from 2022 to 2027. A battery is an electrical device that stores electrical charge and supplies it to the load when needed. The procedure of manufacturing battery involves an extensive list of sub-processes. The battery manufacturing process can be segmented into three main stages: electrode manufacturing, cell assembly, and cell finishing. Each of these stages require a specific dedicated machinery. Some of the most common processes in battery manufacturing include mixing, coating, drying, calendaring, slitting, electrode stacking, assembling, handling, formation, and testing.

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Mixing machines accounted for a significant share of battery production machine market in 2021. Any battery manufacturing processes include multiple stages, and in each stage, the raw materials may happen to lose or gain some of the oxides, hydroxides, some dry loose materials, moist granulates, moist flakes, etc. Hence, accurate dosing and mixing are required in controlled temperatures so that the raw materials retain their characteristics throughout the entire process. Mixing machines are used to blend the materials uniformly. The battery raw material refinement process primarily involves continuous dosing and feeding applications rather than batch-type processes. The raw active ingredients are mixed with a solvent, binder, and additives to create an electrode slurry with the help of mixing machines. The initial stage in making an electrode is slurry mixing, which is done separately for cathode and anode materials. The air quality and temperature are controlled during mixing to prevent dust particles and impurities from entering the slurry. The main measurable aspects of this procedure (viscosity, density, and solid content) directly impact the battery's quality and the electrode's uniformity. Hence, retaining its properties throughout the process is important because dosing and mixing are crucial steps in the battery manufacturing process.

The nickel manganese cobalt (NMC) battery accounted for the largest market share in the battery production machine market. A nickel manganese cobalt (NMC) battery is a combination of lithium with nickel-manganese-cobalt. It can be used as an energy cell or power cell. The cathode is made of nickel, manganese, and cobalt in a 1:1:1 ratio. This combination provides optimum results while keeping the cost low since cobalt is expensive. Like other lithium-ion battery varieties, NMC batteries can have either high specific energy density or high specific power. The effectiveness of NMC depends upon the combination of nickel and manganese. Separately, both are ineffective as nickel has a high energy density and exhibits low stability. Various automakers widely adopt NMC batteries in their low-cost and entry-level EV models. Further, NMC, due to its cost benefits, has become the prominent EV battery technology in one of the largest lithium-ion battery markets-China.

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Renewable energy applications are expected to grow at an impressive CAGR during the forecast period. Global energy demands are rising due to population growth, industrialization, urbanization, and technological developments. To cope with this increased need for energy, countries worldwide are investing in grid modernization and renewable energy generation to meet the growing energy demands. In recent years, there has been a rise in the trend among countries to switch to cleaner and sustainable energy fuels. Major factors fueling the adoption of renewable energy include global decarbonization goals, limited resources, and environmental concerns.

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