Press release
Custom Battery Pack Market on Track for Strong Growth, Estimated to Grow at 8.5% CAGR Through 2029
Custom Battery Pack
What Is the Expected CAGR for the Custom Battery Pack Market Through 2025?
The market size for custom battery packs has seen significant growth in the past few years. The value is expected to increase from $21.44 billion in 2024 to $23.07 billion in 2025, representing a compound annual growth rate (CAGR) of 7.6%. Factors contributing to this growth during the historic period include a rise in demand for portable electronic devices, greater acceptance of electric vehicles, increased popularity of battery-powered industrial automation systems, higher usage of energy storage systems, and improved cost-effectiveness of lithium-ion batteries.
What's the Projected Size of the Global Custom Battery Pack Market by 2029?
In the next few years, the custom battery pack market size is projected to experience significant growth, rising to $31.98 billion by 2029, with a compound annual growth rate (CAGR) of 8.5%. The expected growth during the forecast period can be tied to the increasing use of renewable energy, the escalating demand for energy-efficient batteries, increased sales of hybrid and plug-in hybrid vehicles, expansions in electric aviation projects, and the growth of public transportation electrification. Key trends predicted for this period involve technological evolution, 3D printing of battery components, a shift to non-lithium batteries, batteries optimized for 5G and IoT, as well as localized battery manufacturing.
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Top Growth Drivers in the Custom Battery Pack Industry: What's Accelerating the Market?
The upward trend in electric vehicle demand is set to fuel the expansion of the custom battery pack market. Electric vehicles (EVs), partly or completely powered by electricity, use batteries and electric engines instead of conventional internal combustion engines. The uptake of EVs is escalating because of governmental incentives which diminish buying costs and foster sustainability by providing tax credits, subsidies, and infrastructure growth. Custom Battery Pack boosts electric vehicles by maximizing energy storage, enhancing efficiency and lengthening range with designs that are tailored to meet specific power and performance demands. For instance, in April 2024, the France-based International Energy Agency reported that global electric car sales in 2023 approached 14 million, making up 18% of all car sales, an increase from 14% in 2022. As a result, the surge in electric vehicle (EVs) adoption is steering the growth of the custom battery pack market.
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Which Emerging Trends Are Transforming the Custom Battery Pack Market in 2025?
Leading entities in the custom battery pack market are heavily investing in the creation of novel solutions like structural battery packs to streamline thermal management system, bolster energy density, and lessen overall weight, leading to more robust and enduring battery solutions. Structured battery packs serve a dual purpose as they're an energy storehouse and offer support as load-bearing elements in a vehicle, removing the requirement for independent battery casings and trimming down overall weight. Such packs not only amplify vehicle efficacy but also fortify structural solidity and maximize space deployment, marking them as a pivotal innovation in the realm of electric vehicle design. For example, a UK-based technology firm, Williams Advanced Engineering Limited, rolled out Cell2Pack in May 2023, a customized solution for small-scale EV production. This advance solution enhances the firmness of the vehicle, lessens weight, and amplifies range by incorporating battery cells directly into the pack, scraping the need for separate modules. Possessing large-sized cylindrical cells, bulging side cooling, and an adaptable bent extruded case, Cell2Pack is perfectly suited for specialized automotive uses.
What Are the Main Segments in the Custom Battery Pack Market?
The custom battery pack market covered in this report is segmented -
1) By Type: Lithium-Ion (Li-Ion), Lithium-Polymer (Li-Poly), Nickel-Metal Hydride (NiMH), Nickel-Cadmium (NiCd), Sealed Lead Acid (SLA), Other Types
2) By Voltage Range: Low, Medium, High
3) By Application: Electric Vehicles (EVs), Portable Power Tools, Uninterruptible Power Supply (UPS), Renewable Energy Storage, Medical Devices
4) By End-User: Consumer Electronics, Automotive, Healthcare, Energy Storage Systems, Telecommunication
Subsegments:
1) By Lithium-Ion (Li-Ion): Cylindrical Li-Ion Batteries, Prismatic Li-Ion Batteries, Pouch Li-Ion Batteries
2) By Lithium-Polymer (Li-Poly): High-Discharge Li-Poly Batteries, Ultra-Thin Li-Poly Batteries, Standard Li-Poly Batteries
3) By Nickel-Metal Hydride (NiMH): Cylindrical NiMH Batteries, Prismatic NiMH Batteries
4) By Nickel-Cadmium (NiCd): Button Cell NiCd Batteries, Cylindrical NiCd Batteries, Prismatic NiCd Batteries
5) By Sealed Lead Acid (SLA): Valve-Regulated Lead Acid (VRLA) Batteries, Gel Lead Acid Batteries, Absorbent Glass Mat (AGM) Batteries
6) By Other Types: Solid-State Batteries, Zinc-Air Batteries, Sodium-Ion Batteries
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Which Top Companies are Driving Growth in the Custom Battery Pack Market?
Major companies operating in the custom battery pack market are Grepow Battery Co. Ltd., Alpha Source Inc., Evolute Group LLC, Epec Engineered Technologies Inc., Zeus Battery Products Inc., Enix Power Solutions LLC, EPT Battery Co. Ltd., Excell Battery Co. Inc., Southwest Electronic Energy Group Inc., Alexander Battery Technologies Inc., Tritek Solutions Inc., Rapport Inc., Emerging Power Inc., Godson Technology Co. Ltd., Cell Pack Solutions GmbH, AceOn Group Ltd., Custom Power Inc., Robu.in, Rose Batteries Inc., TTekAI Inc., Voltaplex Technologies Inc., CM Batteries Inc.
Which Regions Will Dominate the Custom Battery Pack Market Through 2029?
North America was the largest region in the custom battery pack market in 2024. The regions covered in the custom battery pack market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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