Press release
Prominent Battery Manufacturing Equipment Market Trend for 2025: Product Innovations Driving Growth In The Battery Manufacturing Equipment Market
Battery Manufacturing Equipment Market Size
The escalating demand for electric vehicles is likely to fuel the expansion of the battery manufacturing equipment market. An electric vehicle is a vehicle type that operates on an electric motor drawing power from a battery, which can be recharged from an external resource. The fact that electric vehicles are entirely dependent on batteries makes them advantageous to the battery manufacturing equipment market. The surge in demand for electric vehicles is inextricably linked to the growth of battery manufacturing equipment. For instance, as per the Department of Infrastructure, Transport, Regional Development, Communications, and the Arts, a department responsible for executing the Australian government's policies and programs, it was reported in February 2024 that as of January 31, 2022, the registration of motor vehicles had risen by 2% from January 2021, reaching 20.7 million. Battery-electric vehicles (BEVs) showed a spectacular 100% growth from 2021, with approximately 40,000 units. Out of these, 34,200 were passenger cars in 2022, indicating a 118% rise from 2021. There were approximately 277,000 hybrid-electric vehicles (HEVs) in 2022, showing a 35% growth from 2021. Therefore, the burgeoning demand for electric vehicles acts as a catalyst for the growth of the battery manufacturing equipment market.
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What growth opportunities are expected to drive the battery manufacturing equipment market's CAGR through 2034?
The size of the battery manufacturing equipment market has experienced a considerable surge in recent years. The market which is projected to be valued at $15.13 billion in 2024, is expected to escalate to $19.46 billion in 2025, growing at a compound annual growth rate (CAGR) of 28.6%. Various factors such as the rise in consumer electronics demand, burgeoning interest in electric vehicles (EVs), a heightened focus on renewable energy storage solutions, advancements in battery management systems (BMS), and government incentives promoting clean energy have contributed to its historical growth.
Anticipated over the coming years, the market size for battery manufacturing equipment is set for an explosive increase. The market is expected to hit $48.74 billion by 2029, growing at a compound annual growth rate (CAGR) of 25.8%. The anticipated growth during the prediction timeline can be linked to the escalating demand in energy storage systems (ess), expansion of renewable energy globally, surging demand for lightweight and high-energy-density batteries coupled with an emphasis on battery recycling and a circular economy. Significant tendencies predicted during this period encompass the escalation of outsourced manufacturing equipment, an upswing in cleanroom manufacturing protocols, the uptake of innovative coating and drying methods, a shift towards safety-focused equipment designs, and a leaning toward vertical integration in production.
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What are the emerging trends shaping the future of the battery manufacturing equipment market?
Innovations in products are increasingly becoming a top trend in the battery manufacturing equipment industry. Leading organizations in this sector are creating breakthrough products to fortify their industry status. An example of this is the U.S. based LiCAP Technologies, an electrode manufacturer for energy storage devices, which announced a new line of equipment for budget-friendly battery manufacturing in June 2022. The future amalgamation of LiCAP's unique Activated Dry Electrode procedure with the new gear will be integral in blueprinting a demonstration plant with 1 GWh, which should be finished by 2023. LiCAP is aiming to ramp up the production of lithium-ion battery (LIB) electrodes and lithium-ion battery cells using the new equipment.
Which growth-oriented segments of the battery manufacturing equipment market are leading the industry's development?
The battery manufacturing equipment market covered in this report is segmented -
1) By Type: Lead Acid, Lithium Ion, Nickel Metal Hydride, Nickel Cadmium, Other Types
2) By Process: Electrode Manufacturing, Cell Assembly, Cell Finishing
3) By Application: Automotive Batteries, Industrial Batteries, Portable Batteries
Subsegments:
1) By Lead Acid: Flooded Lead Acid, Absorbent Glass Mat (AGM), Gel Lead Acid
2) By Lithium Ion: Cylindrical Cells, Prismatic Cells, Pouch Cells
3) By Nickel Metal Hydride: NiMH Cylindrical Cells, NiMH Prismatic Cells
4) By Nickel Cadmium: NiCd Cylindrical Cells, NiCd Button Cells
5) By Other Types: Solid State Batteries, Flow Batteries, Zinc-Air Batteries
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What regions are leading the charge in the battery manufacturing equipment market?
Asia-pacific was the largest region in the battery manufacturing equipment market in 2024. Asia-pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the battery manufacturing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the battery manufacturing equipment market?
Major companies operating in the battery manufacturing equipment market include Sony Energy Devices Corporation, BYD Co. Ltd., Panasonic Corporation, LG Chem Ltd., Johnson Controls International plc, Toshiba Corporation, Contemporary Ampere*x Technology Co. Ltd., Samsung SDI Co. Ltd., Wuxi Lead Intelligent Equipment Co. Ltd., Hitachi Chemical Co. Ltd., GS Yuasa Corporation, The Buhler Holding AG, Daiichi Jitsugyo Co. Ltd., Shenzhen Yinghe Technology Co Ltd., A123 Systems LLC, Duracell Inc., Manz AG, Eveready Industries India Ltd., Eagle Technologies Inc., MECO Incorporated, Wirtz Manufacturing Company Inc., Targray Technology International Inc., Sovema Group S.p.A., MESH Automation Inc., MAC Engineering & Equipment Company Inc., McAllister Mills Inc., Custom Electric Manufacturing Co. Inc., Xiamen Tmax Battery Equipments Limited
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What Is Covered In The Battery Manufacturing Equipment Global Market Report?
o Market Size Forecast: Examine the battery manufacturing equipment market size across key regions, countries, product categories, and applications.
o Segmentation Insights: Identify and classify subsegments within the battery manufacturing equipment market for a structured understanding.
o Key Players Overview: Analyze major players in the battery manufacturing equipment market, including their market value, share, and competitive positioning.
o Growth Trends Exploration: Assess individual growth patterns and future opportunities in the battery manufacturing equipment market.
o Segment Contributions: Evaluate how different segments drive overall growth in the battery manufacturing equipment market.
o Growth Factors: Highlight key drivers and opportunities influencing the expansion of the battery manufacturing equipment market.
o Industry Challenges: Identify potential risks and obstacles affecting the battery manufacturing equipment market.
o Competitive Landscape: Review strategic developments in the battery manufacturing equipment market, including expansions, agreements, and new product launches.
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