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Report
Germany Battery Market Forecast 2024-2032
Market Report I 2024-06-29 I 142 Pages I Inkwood Research
KEY FINDINGS
The Germany battery market is set to progress with a CAGR of 16.09% across the forecasting years. While the base year considered for the market studied is 2023, the forecasted period is from 2024 to 2032.
MARKET INSIGHTS
The demand for electric vehicles (EVs) in Germany has surged significantly, emerging as a key driver for the battery market's growth during the forecast period. The number of new electric car registrations in Germany has also seen a marked increase in recent years. Germany, renowned for its robust automotive industry, is witnessing a significant surge in demand for electric vehicles as consumers increasingly prioritize environmental sustainability; according to industry sources, in the first four months of 2022, 105,847 new electric cars were registered. Projections also indicate that the electric vehicle industry in Germany is on track to achieve unit sales of 1,721,000 vehicles by the year 2028. This substantial demand for electric vehicles is anticipated to further drive the adoption of various types of batteries, positively influencing market growth.
Additionally, Cylib, a sustainable end-to-end battery recycling firm, successfully closed a EUR55 million Series A funding round in equity financing in May 2024. The round was co-led by World Fund, a leading European climate tech VC, and Porsche Ventures, the venture arm of Porsche AG. This funding marks the first venture co-investment from industrial giants Porsche and Bosch in Germany.
It represents the largest round ever raised by a European battery recycling company, achieved within less than 24 months since Cylib began operations. The funds will enable Cylib to industrialize its proprietary technology further, already utilized by leading OEMs and battery manufacturers. Furthermore, operations are set to scale up at a brownfield industrial facility in Germany, which has already been secured for this purpose.
Likewise, in January 2024, Corre Energy, a Dutch energy storage company, and Eneco entered into a partnership to co-develop and co-invest in a compressed air energy storage (CAES) project in Germany. This project is set to have a power-generating capacity of 320MW. As part of the agreement, Eneco will acquire a 50% stake in the project.
Germany is also experiencing a wave of new battery production facilities and factories. For example, Northvolt, a battery manufacturing startup, announced the opening of a new battery cell gigafactory in Germany. The company aims to replicate the 'gigafactory' concept, producing batteries at the 'gigawatt-hour' scale for electric vehicles. Similarly, CATL announced the commencement of battery production in Germany, targeting an output of 8 gigawatt-hours of battery cells at their new plant. These developments are expected to significantly contribute to the market growth in Germany during the forecast period.
SEGMENTATION ANALYSIS
The Germany battery market is segmented into type, technology, and application. The technology segment is further categorized into nickel-zinc (NiZn) battery, lead-acid battery, lithium-ion battery, sodium-sulfur (NAS) battery, nickel-cadmium battery, zinc-manganese dioxide battery, flow battery, nickel-metal hydride battery, small sealed lead-acid battery, and other batteries.
The other batteries segment includes alkaline, silver oxide, solid state, and sodium-ion batteries. Significant research and development activities by market players and educational institutions worldwide are anticipated to drive market growth in the coming years. For example, in 2022, Nissan Motor (a Japan-based automaker) announced its collaboration with the National Aeronautics and Space Administration (NASA) and the University of California San Diego to commercialize next-generation cells. Nissan revealed a prototype factory for all-solid-state batteries, which promise to revolutionize electric vehicles by offering three times faster charging and twice the range compared to previous models.
Additionally, in the same year, Urban Electric Power and Alchemy Industrial partnered to launch Ohm Core, a residential energy storage system based on rechargeable alkaline batteries. These research and development activities are expected to increase the adoption of various battery types for different applications, thereby promoting market growth during the forecast period.
COMPETITIVE INSIGHTS
Leading companies operating in the Germany battery market include BYD Company Ltd, Duracell, Exide Technologies, Johnson Controls Inc, etc.
Duracell Inc, owned by Berkshire Hathaway, is an American manufacturer of specialty cells, alkaline batteries, and smart power systems. Considered the world's leading manufacturer and marketer of high-performance lithium coins, rechargeable batteries, and other specialty cells, Duracell powers various devices, including baby monitors, flashlights, smoke detectors, game console controllers, and toys. The company employs over 3,300 people globally and has regional headquarters in the United States, EMEA, and Asia.
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. COUNTRY SNAPSHOT
2.3. COUNTRY ANALYSIS
2.4. SCOPE OF STUDY
2.5. CRISIS SCENARIO ANALYSIS
2.6. IMPACT OF COVID-19 ON THE BATTERY MARKET
2.7. MAJOR MARKET FINDINGS
2.7.1. ESCALATING DEVELOPMENTS IN LITHIUM-ION BATTERY TECHNOLOGY
2.7.2. GOVERNMENT INITIATIVES AND POLICIES PROMOTING CLEAN ENERGY AND ELECTRIC MOBILITY
2.7.3. GROWING EV MANUFACTURING
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. GROWING DEMAND FOR PORTABLE ELECTRONICS
3.1.2. INCENTIVES FOR EV BATTERY MANUFACTURING
3.1.3. HIGH DEMAND FOR AUTOMOTIVE APPLICATIONS, ESPECIALLY FROM ELECTRIC VEHICLES
3.2. KEY RESTRAINTS
3.2.1. SAFETY ISSUES RELATED TO BATTERY USAGE
3.2.2. VOLATILITY IN RAW MATERIAL PRICES
3.2.3. ISSUES RELATED TO BATTERY RECYCLING
4. KEY ANALYTICS
4.1. KEY MARKET TRENDS
4.1.1. TECHNOLOGICAL ADVANCEMENTS IN BATTERY TECHNOLOGIES
4.1.2. GROWING FOCUS ON SECOND-LIFE BATTERY APPLICATIONS
4.1.3. RISING DEMAND FOR LARGER BATTERY PACKS
4.2. PESTLE ANALYSIS
4.2.1. POLITICAL
4.2.2. ECONOMICAL
4.2.3. SOCIAL
4.2.4. TECHNOLOGICAL
4.2.5. LEGAL
4.2.6. ENVIRONMENTAL
4.3. PORTER'S FIVE FORCES ANALYSIS
4.3.1. BUYERS POWER
4.3.2. SUPPLIERS POWER
4.3.3. SUBSTITUTION
4.3.4. NEW ENTRANTS
4.3.5. INDUSTRY RIVALRY
4.4. GROWTH PROSPECT MAPPING
4.4.1. GROWTH PROSPECT MAPPING FOR GERMANY
4.5. MARKET CONCENTRATION ANALYSIS
4.6. REGULATORY FRAMEWORK
4.7. VALUE CHAIN ANALYSIS
4.7.1. RAW MATERIAL
4.7.2. MANUFACTURING & ASSEMBLY
4.7.3. DISTRIBUTION
4.7.4. END-USER APPLICATIONS
4.7.5. AFTER-SALES SERVICES
4.7.6. RECYCLING
4.8. KEY BUYING CRITERIA
4.8.1. ENERGY DENSITY
4.8.2. BATTERY MEMORY
4.8.3. LIFETIME
4.8.4. DURABILITY
5. MARKET BY TYPE
5.1. PRIMARY BATTERY
5.1.1. MARKET FORECAST FIGURE
5.1.2. SEGMENT ANALYSIS
5.2. SECONDARY BATTERY
5.2.1. MARKET FORECAST FIGURE
5.2.2. SEGMENT ANALYSIS
6. MARKET BY TECHNOLOGY
6.1. LEAD-ACID BATTERY
6.1.1. MARKET FORECAST FIGURE
6.1.2. SEGMENT ANALYSIS
6.2. LITHIUM-ION BATTERY
6.2.1. MARKET FORECAST FIGURE
6.2.2. SEGMENT ANALYSIS
6.3. NICKEL-CADMIUM BATTERY
6.3.1. MARKET FORECAST FIGURE
6.3.2. SEGMENT ANALYSIS
6.4. NICKEL METAL HYDRIDE BATTERY
6.4.1. MARKET FORECAST FIGURE
6.4.2. SEGMENT ANALYSIS
6.5. NICKEL-ZINC (NIZN) BATTERY
6.5.1. MARKET FORECAST FIGURE
6.5.2. SEGMENT ANALYSIS
6.6. FLOW BATTERY
6.6.1. MARKET FORECAST FIGURE
6.6.2. SEGMENT ANALYSIS
6.7. SODIUM-SULFUR (NAS) BATTERY
6.7.1. MARKET FORECAST FIGURE
6.7.2. SEGMENT ANALYSIS
6.8. ZINC-MANGANESE DIOXIDE BATTERY
6.8.1. MARKET FORECAST FIGURE
6.8.2. SEGMENT ANALYSIS
6.9. SMALL SEALED LEAD-ACID BATTERY
6.9.1. MARKET FORECAST FIGURE
6.9.2. SEGMENT ANALYSIS
6.10. OTHER BATTERIES
6.10.1. MARKET FORECAST FIGURE
6.10.2. SEGMENT ANALYSIS
7. MARKET BY APPLICATION
7.1. AUTOMOTIVE BATTERIES
7.1.1. MARKET FORECAST FIGURE
7.1.2. SEGMENT ANALYSIS
7.2. INDUSTRIAL BATTERIES
7.2.1. MARKET FORECAST FIGURE
7.2.2. SEGMENT ANALYSIS
7.3. PORTABLE BATTERIES
7.3.1. MARKET FORECAST FIGURE
7.3.2. SEGMENT ANALYSIS
7.4. POWER TOOLS BATTERIES
7.4.1. MARKET FORECAST FIGURE
7.4.2. SEGMENT ANALYSIS
7.5. SLI BATTERIES
7.5.1. MARKET FORECAST FIGURE
7.5.2. SEGMENT ANALYSIS
7.6. OTHER APPLICATIONS
7.6.1. MARKET FORECAST FIGURE
7.6.2. SEGMENT ANALYSIS
8. COMPETITIVE LANDSCAPE
8.1. KEY STRATEGIC DEVELOPMENTS
8.1.1. MERGERS & ACQUISITIONS
8.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
8.1.3. PARTNERSHIPS & AGREEMENTS
8.1.4. BUSINESS EXPANSIONS & DIVESTITURES
8.2. COMPANY PROFILES
8.2.1. BYD COMPANY LTD
8.2.1.1. COMPANY OVERVIEW
8.2.1.2. PRODUCTS
8.2.1.3. STRENGTHS & CHALLENGES
8.2.2. DURACELL
8.2.2.1. COMPANY OVERVIEW
8.2.2.2. PRODUCTS
8.2.2.3. STRENGTHS & CHALLENGES
8.2.3. EXIDE TECHNOLOGIES
8.2.3.1. COMPANY OVERVIEW
8.2.3.2. PRODUCTS
8.2.3.3. STRENGTHS & CHALLENGES
8.2.4. JOHNSON CONTROLS INC
8.2.4.1. COMPANY OVERVIEW
8.2.4.2. PRODUCTS
8.2.4.3. STRENGTHS & CHALLENGES
8.2.5. GS YUASA INTERNATIONAL LTD
8.2.5.1. COMPANY OVERVIEW
8.2.5.2. PRODUCTS
8.2.5.3. STRENGTHS & CHALLENGES
8.2.6. SAFT GROUPE SA
8.2.6.1. COMPANY OVERVIEW
8.2.6.2. PRODUCTS
8.2.6.3. STRENGTHS & CHALLENGES
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - BATTERY
TABLE 2: GERMANY BATTERY MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: GERMANY BATTERY MARKET, BY TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 4: GERMANY BATTERY MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: GERMANY BATTERY MARKET, BY TECHNOLOGY, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 6: GERMANY BATTERY MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: GERMANY BATTERY MARKET, BY APPLICATION, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 8: LIST OF MERGERS & ACQUISITIONS
TABLE 9: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 10: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 11: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR GERMANY
FIGURE 4: MARKET CONCENTRATION ANALYSIS
FIGURE 5: VALUE CHAIN ANALYSIS
FIGURE 6: KEY BUYING CRITERIA
FIGURE 7: REGULATORY FRAMEWORK
FIGURE 8: GERMANY BATTERY MARKET, GROWTH POTENTIAL, BY TYPE, IN 2023
FIGURE 9: GERMANY BATTERY MARKET, BY PRIMARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 10: GERMANY BATTERY MARKET, BY SECONDARY BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 11: GERMANY BATTERY MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, IN 2023
FIGURE 12: GERMANY BATTERY MARKET, BY LEAD-ACID BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 13: GERMANY BATTERY MARKET, BY LITHIUM-ION BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 14: GERMANY BATTERY MARKET, BY NICKEL-CADMIUM BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 15: GERMANY BATTERY MARKET, BY NICKEL METAL HYDRIDE BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 16: GERMANY BATTERY MARKET, BY NICKEL-ZINC (NIZN) BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 17: GERMANY BATTERY MARKET, BY FLOW BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 18: GERMANY BATTERY MARKET, BY SODIUM-SULFUR (NAS) BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 19: GERMANY BATTERY MARKET, BY ZINC-MANGANESE DIOXIDE BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 20: GERMANY BATTERY MARKET, BY SMALL SEALED LEAD-ACID BATTERY, 2024-2032 (IN $ MILLION)
FIGURE 21: GERMANY BATTERY MARKET, BY OTHER BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 22: GERMANY BATTERY MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2023
FIGURE 23: GERMANY BATTERY MARKET, BY AUTOMOTIVE BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 24: GERMANY BATTERY MARKET, BY INDUSTRIAL BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 25: GERMANY BATTERY MARKET, BY PORTABLE BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 26: GERMANY BATTERY MARKET, BY POWER TOOLS BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 27: GERMANY BATTERY MARKET, BY SLI BATTERIES, 2024-2032 (IN $ MILLION)
FIGURE 28: GERMANY BATTERY MARKET, BY OTHER APPLICATIONS, 2024-2032 (IN $ MILLION)
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