Europe Rechargeable Battery Market

Market Overview:

The Europe rechargeable battery market size reached US$ 21.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 33.5 Billion by 2028, exhibiting a growth rate (CAGR) of 7.79% during 2023-2028.

Rechargeable batteries, also known as secondary cells and storage batteries, convert chemical energy into electrical energy. These batteries comprise an anode, a cathode and an electrolyte and are widely available in different shapes and sizes. They have gained immense popularity in Europe as they are a sustainable alternative to non-rechargeable batteries and offer long-term cost benefits.

At present, the leading manufacturers are focusing on improving the overall performance of rechargeable batteries. Consequently, they are developing new rechargeable battery technologies, such as the flow battery, which offers double power output than conventional batteries. Another factor driving the sales of these batteries is the lower self-discharge rate due to the disparity in electro chemicals and advancements in technology. Apart from this, rising environmental concerns and climate change have escalated the demand for rechargeable batteries in the region. Furthermore, the gradual shift towards electronic vehicles is increasing the production of rechargeable batteries, which is positively influencing the market growth. However, the rapid increase in coronavirus disease (COVID-19) cases has negatively impacted the demand for rechargeable batteries, but the market is expected to recover once lockdown restrictions are uplifted.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Europe rechargeable battery market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on battery type, capacity and application.

Breakup by Battery Type:

• Lead-Acid Batteries
• Li-ion Batteries
• NiMH Batteries
• NiCd Batteries
• Others
   

Breakup by Capacity:

• 150 - 1000 mAh
• 1300 - 2700 mAh
• 3000 - 4000 mAh
• 4000 - 6000 mAh
• 6000 - 10000 mAh
• More than 10000 mAh
   

Breakup by Application:

• Consumer Electronics
• Industrial Applications
• Automobile Applications
• Defence
• Others
   

Breakup by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the Europe rechargeable battery market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Europe rechargeable battery market?
• What are the key regional markets?
• What is the breakup of the market based on the battery type?
• What is the breakup of the market based on the capacity?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the Europe rechargeable battery market and who are the key players?
• What is the degree of competition in the industry?