Secondary Battery Market Size and Outlook 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 115.16 Billion
CAGR (2026-2031)	12.47%
Fastest Growing Segment	Lithium-ion Batteries
Largest Market	Asia Pacific
Market Size (2031)	USD 233.09 Billion

Market Overview

The Global Secondary Battery Market will grow from USD 115.16 Billion in 2025 to USD 233.09 Billion by 2031 at a 12.47% CAGR. Secondary batteries are rechargeable electrochemical devices designed to store energy and deliver electrical power through multiple charge and discharge cycles. The rapid expansion of this market is fundamentally driven by the accelerating global shift toward electric mobility and the essential need for stationary energy storage systems to support renewable power integration. According to the Cobalt Institute, in 2024, global cobalt demand exceeded 200,000 tonnes, with the electric vehicle sector alone accounting for 43 percent of this total consumption, highlighting the critical role of automotive electrification in fueling industry demand.

One significant challenge that could impede market expansion is the intense concentration of critical mineral refining and battery manufacturing capacity within limited geographical territories. This structural dependency creates significant supply chain vulnerabilities and exposes the industry to geopolitical fluctuations that could disrupt production schedules. Such instability poses a risk of slowing the deployment of energy storage solutions and dampening the overall growth trajectory of the global market.

Key Market Drivers

Accelerating global adoption of electric vehicles acts as the primary catalyst propelling the secondary battery industry, as automakers intensify production to meet decarbonization targets. This shift necessitates high-capacity lithium-ion cells to alleviate range anxiety and support heavier vehicle platforms, fundamentally reshaping manufacturing priorities toward automotive-grade solutions. According to the International Energy Agency, April 2024, in the 'Global EV Outlook 2024', global electric car sales neared 14 million in 2023, marking a 35 percent increase compared to the previous year. This surge in vehicular electrification directly correlates with exponentially rising production volumes for traction batteries, compelling manufacturers to scale gigafactories. To support this massive industrial scaling, according to the International Energy Agency, in 2024, global investment in battery manufacturing increased to USD 115 billion in 2023, reflecting the sector's immense capital mobilization to satisfy this automotive-led demand.

Rising deployment of renewable energy storage systems serves as the second major driver, addressing the intermittency of solar and wind power generation. Utility-scale projects and residential units increasingly rely on secondary batteries to stabilize grids and ensure consistent power delivery during peak demand periods. This application is crucial for modernizing electrical infrastructure, as it allows operators to time-shift energy usage and maintain frequency regulation without relying on fossil fuels. According to the International Energy Agency, May 2024, in the 'Special Report on Batteries and Secure Energy Transitions', deployment of battery storage in the power sector more than doubled in 2023 to reach 42 GW globally. This rapid infrastructure build-out underscores the critical reliance on advanced battery technologies to facilitate the green energy transition, creating a substantial demand stream that complements the automotive sector.

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Key Market Challenges

The intense concentration of critical mineral refining and battery manufacturing capacity within limited geographical territories stands as a primary challenge impeding the growth of the Global Secondary Battery Market. This structural dependency creates profound supply chain vulnerabilities, as the industry relies heavily on a few dominant regions for essential materials and cell production. Consequently, the market becomes highly sensitive to geopolitical fluctuations and trade policies that can disrupt production schedules and inflate costs. Such instability introduces significant uncertainty for investors and manufacturers, directly slowing the deployment of energy storage solutions and hampering the global expansion of electric mobility infrastructure.

The extent of this geographical imbalance is highlighted by recent industry data showing the immense scale of output from the leading manufacturing hub. According to the China Automotive Battery Innovation Alliance, in January 2025, the total production of power and other batteries in China reached 107.8 GWh. This substantial volume underscores the market's heavy reliance on a single jurisdiction for its primary supply. As a result, any logistical bottlenecks or regulatory changes in this region inevitably cascade through the global value chain, restricting availability and dampening the overall growth trajectory of the market.

Key Market Trends

Rapid commercialization of solid-state battery technology represents a transformative shift toward higher energy density and enhanced safety architectures, distinct from traditional liquid-electrolyte systems. This trend is characterized by intense competition to mature solid electrolyte manufacturing processes, aiming to deliver automotive-grade cells that resolve current range and thermal stability limitations. Major manufacturers are aggressively validating these next-generation designs to secure a competitive edge in the premium electric vehicle segment. According to Samsung SDI, March 2024, in its strategic roadmap presented at InterBattery 2024, the company targets the mass production of all-solid-state batteries achieving an energy density of 900 watt-hours per liter by 2027. Such advancements signal a departure from incremental lithium-ion improvements toward disruptive innovations that redefine performance benchmarks for future mobility.

Expansion of battery recycling and closed-loop supply chains is actively reshaping the market's value stream by prioritizing material recovery over extraction-dependent sourcing. Companies are increasingly deploying advanced hydrometallurgical plants to extract critical metals like lithium, nickel, and cobalt from retired packs, thereby insulating production from upstream volatility and regulatory pressures. This approach effectively converts end-of-life liabilities into a stable secondary raw material source. According to Mercedes-Benz Group AG, October 2024, in an official statement marking the opening of its Kuppenheim facility, the automaker established a mechanical-hydrometallurgical recycling plant with an annual capacity of 2,500 tonnes and a recovery rate of more than 96 percent. This industrialization of circular economy principles ensures a sustainable feedstock for cell manufacturing, directly countering raw material scarcity.

Segmental Insights

The Lithium-ion battery segment currently registers the fastest growth within the global secondary battery market. This expansion is principally fueled by the increasing production of electric vehicles and the widespread utilization of portable consumer electronics. Manufacturers favor this chemistry because it provides superior energy density and longer life cycles compared to traditional alternatives. Additionally, stringent emission standards enforced by regulatory entities such as the European Commission have compelled automotive companies to accelerate the transition toward electrification. Consequently, the reliance on lithium-ion technology as a primary power source continues to intensify across both industrial and consumer sectors.

Regional Insights

Asia Pacific commands the Global Secondary Battery Market, primarily due to the extensive manufacturing infrastructure established in China, Japan, and South Korea. This region serves as the global production hub for lithium-ion and other rechargeable batteries, supported by integrated supply chains for critical raw materials. Robust demand from the expanding electric vehicle sector and consumer electronics industry further cements this leadership. Governments in these nations actively sustain market dominance through favorable regulatory frameworks and substantial incentives for green technology adoption, ensuring the region remains the central force in global battery production and innovation.

Recent Developments

In July 2025, Panasonic Energy began mass production at its new automotive lithium-ion battery manufacturing facility in Kansas, United States. This plant, which represents a significant expansion of the company's North American footprint, focuses on producing high-capacity cylindrical cells designed to meet the surging demand for electric vehicles. The facility is expected to ramp up its annual production capacity substantially, strengthening the local supply chain for critical battery components. This launch underscores the company's strategy to enhance its competitive position in the global secondary battery market through localized manufacturing and advanced product capabilities.
In June 2025, LG Energy Solution commenced the mass production of large-scale lithium iron phosphate (LFP) batteries for energy storage systems (ESS) at its manufacturing facility in Holland, Michigan. This strategic operational expansion made the company one of the first global battery manufacturers to establish a dedicated ESS production system within North America. By converting existing production lines to accommodate the specific chemistry and form factor of storage batteries, the firm accelerated its supply to the local grid-scale market. This move allows the company to rapidly respond to the growing demand for stationary energy storage solutions in the global secondary battery market.
In October 2024, Contemporary Amperex Technology Co., Limited (CATL) launched the Freevoy Super Hybrid Battery, a new product specifically designed for plug-in hybrid and extended-range electric vehicles. This innovative secondary battery enables a pure electric driving range of over 400 kilometers and supports 4C ultra-fast charging capabilities, allowing for significant range replenishment in just ten minutes. The technology utilizes a surface modification technique for cathode materials and a high-voltage electrolyte formulation to minimize side reactions and enhance efficiency. This product launch addresses critical consumer demands for longer range and faster charging within the global secondary battery market.
In October 2024, Samsung SDI unveiled a comprehensive lineup of next-generation battery technologies at the Daegu International Future Auto & Mobility Expo in South Korea. The company showcased its all-solid-state batteries, which incorporate an anode-less design to achieve industry-leading energy density and superior safety standards. Furthermore, the manufacturer presented its new 46-phi cylindrical batteries and Lithium Iron Phosphate Plus (LFP+) batteries, which feature novel electrode technology to improve performance compared to standard models. This development highlights the company's strategic commitment to leading the global secondary battery market through the commercialization of advanced mobility solutions.

Key Market Players

Umicore
Retriev Technologies
American Battery Technology Company
Li-Cycle
Aqua Metals
Battery Solutions
Recupyl
Gopher Resource
Glencore Recycling
Retech Recycling Technology AB.

By Technology	By Application	By Region
Lead-acid Batteries Lithium-ion Batteries Others	Automotive Batteries (HEV, PHEV, and EV) Industrial Batteries (Motive Stationary (Telecom UPS Energy Storage Systems (ESS), Others) Portable Batteries (Consumer Electronics, Others))	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Secondary Battery Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Secondary Battery Market, By Technology:

Lead-acid Batteries
Lithium-ion Batteries
Others

Secondary Battery Market, By Application:

Automotive Batteries (HEV, PHEV, and EV)
Industrial Batteries (Motive
Stationary (Telecom
UPS
Energy Storage Systems (ESS), Others)
Portable Batteries (Consumer Electronics, Others))

Secondary Battery Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Secondary Battery Market.

Available Customizations:

Global Secondary Battery Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Secondary Battery Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Secondary Battery Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Technology (Lead-acid Batteries, Lithium-ion Batteries, Others)

5.2.2. By Application (Automotive Batteries (HEV, PHEV, and EV), Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), Others), Portable Batteries (Consumer Electronics, Others)))

5.2.3. By Region

5.2.4. By Company (2025)

5.3. Market Map

6. North America Secondary Battery Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Technology

6.2.2. By Application

6.2.3. By Country

6.3. North America: Country Analysis

6.3.1. United States Secondary Battery Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Technology

6.3.1.2.2. By Application

6.3.2. Canada Secondary Battery Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Technology

6.3.2.2.2. By Application

6.3.3. Mexico Secondary Battery Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Technology

6.3.3.2.2. By Application

7. Europe Secondary Battery Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Technology

7.2.2. By Application

7.2.3. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Secondary Battery Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Technology

7.3.1.2.2. By Application

7.3.2. France Secondary Battery Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Technology

7.3.2.2.2. By Application

7.3.3. United Kingdom Secondary Battery Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Technology

7.3.3.2.2. By Application

7.3.4. Italy Secondary Battery Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Technology

7.3.4.2.2. By Application

7.3.5. Spain Secondary Battery Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Technology

7.3.5.2.2. By Application

8. Asia Pacific Secondary Battery Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Technology

8.2.2. By Application

8.2.3. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Secondary Battery Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Technology

8.3.1.2.2. By Application

8.3.2. India Secondary Battery Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Technology

8.3.2.2.2. By Application

8.3.3. Japan Secondary Battery Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Technology

8.3.3.2.2. By Application

8.3.4. South Korea Secondary Battery Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Technology

8.3.4.2.2. By Application

8.3.5. Australia Secondary Battery Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Technology

8.3.5.2.2. By Application

9. Middle East & Africa Secondary Battery Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Technology

9.2.2. By Application

9.2.3. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Secondary Battery Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Technology

9.3.1.2.2. By Application

9.3.2. UAE Secondary Battery Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Technology

9.3.2.2.2. By Application

9.3.3. South Africa Secondary Battery Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Technology

9.3.3.2.2. By Application

10. South America Secondary Battery Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Technology

10.2.2. By Application

10.2.3. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Secondary Battery Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Technology

10.3.1.2.2. By Application

10.3.2. Colombia Secondary Battery Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Technology

10.3.2.2.2. By Application

10.3.3. Argentina Secondary Battery Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Technology

10.3.3.2.2. By Application

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Secondary Battery Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Umicore

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. Retriev Technologies

15.3. American Battery Technology Company

15.4. Li-Cycle

15.5. Aqua Metals

15.6. Battery Solutions

15.7. Recupyl

15.8. Gopher Resource

15.9. Glencore Recycling

15.10. Retech Recycling Technology AB.

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

What was the market size of the Global Secondary Battery Market in 2025?

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