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Report
Next-Generation Advanced Batteries: Global Markets
Market Research Report I 2025-05-13 I 118 Pages I BCC Research
Description
Report Scope
This report analyzes the global next-generation advanced batteries market and examines the end use of these batteries within various industries. It also includes emerging technologies and developments, upcoming trends, the competitive landscape, market dynamics, and a patent analysis of the market.
The report further focuses on ESG developments and macro-economic factors. Geographic regions include North America, Europe, Asia-Pacific and the Rest of the World (South America, the Middle East and Africa). It concludes with profiles of the leading companies in the next-generation advanced batteries market.
The base year of this report is 2023, and the estimated year is 2024. Market values ($ million) are forecasted until the end of 2029.
Report Includes
- 33 data tables and 48 additional tables
- A review of the global market for next-generation advanced batteries
- Analyses of the global market trends, with sales data for 2023, 2024, estimates for 2025, forecasts for 2028, and projections of compound annual growth rates (CAGRs) through 2029
- Evaluation and forecast of the global market for next-generation advanced batteries, and a corresponding market share analysis by type, end use industry and region
- A look at emerging technological trends, and the opportunities and gaps in current and future demand for next-generation advanced batteries
- Information on the latest developments in next-generation advanced batteries and new industry research and economic trends
- Coverage of evolving technologies, the current and future market potential, R&D activities, growth strategies, regulatory framework and reimbursement scenarios, and ESG trends of the market
- Analysis of the key companies' market shares and their proprietary technologies, strategic alliances, and patent portfolios
- Profiles of the companies, including Contemporary Amperex Technology Co. Ltd. (CATL), HiNa Battery Technology Co. Ltd., LG Energy Solution, QuantumScape Battery Inc., and Sumitomo Electric Industries Ltd.
Executive Summary
Summary:
The global market for next-generation advanced batteries is estimated to grow from $1.5 billion in 2024 to reach $5.3 billion by the end of 2029, at a compound annual growth rate (CAGR) of 28.5% from 2024 through 2029.
Sodium-ion batteries (SIBs), solid state batteries (SSBs), flow batteries, and other varieties (metal-air batteries, lithium-sulfur batteries, magnesium-ion batteries, smart nano batteries) are considered nextgeneration advanced batteries. The batteries are becoming an alternative to lithium ion batteries (LIBs) due to their high energy density and easy access to many raw materials. As sodium is the sixth most common element in the world, its use significantly lowers the supply chain risks and geopolitical concerns that come with lithium. During charging and discharging cycles, sodium ions move back and forth between the anode and the cathode, making these batteries work like LIBs.
A flow battery is a rechargeable battery wherein the liquid electrolytes, stored separately, flow into the central cell, which reacts in the charging and discharging phases. These batteries are typically used for storing renewable sources of energy, notably solar and wind energy. SSBs enhance the overall performance of EVs, medical devices and battery-powered industrial systems by enabling high energy density, improved safety features, faster charging times and increased battery life compared with conventional battery systems.
Table of Contents
Chapter 1 Executive Summary
Market Outlook
Scope of Report
Market Summary
Market Dynamics and Growth Factors
Future Trends and Development
Segmental Analysis
Regional Insights and Emerging Markets
Conclusion
Chapter 2 Market Overview
Current Market Overview and Future Scenario
Current Market Overview
Future Scenario
Value Chain Analysis
Raw Materials Mining
Cell Component Manufacturing
Cell Manufacturing
Battery Pack Manufacturing
End User
Battery Recycling and Disposal
Porter's Five Forces Analysis
Bargaining Power of Buyers
Bargaining Power of Suppliers
Potential for New Entrants to the Market
Competition in the Industry
Threat of Substitutes
Macroeconomic Factors
Impact of the Russia-Ukraine War
Falling Lithium-Ion Battery Prices
Rising Global Sales of EVs
Regulatory Framework and Initiatives by Governments
The European Union
The U.S.
China
India
Chapter 3 Market Dynamics
Overview
Market Drivers
Need for a Cost-Effective Alternative to Lithium-Ion Batteries
Preference for Flow Batteries Over Conventional Batteries
Increasing Demand for Solar Energy Facilitating Deployment
Demand for Higher Battery Energy Density
Market Restraints/Challenges
Limited Cycle Life of Sodium-Ion Batteries
Manufacturing Limitations for SSBs
Market Opportunities
Grid Modernization
Development of Smart Cities, Smart Buildings and Smart Infrastructure
Market Trends
Demand for Long-Duration Battery Storage Technologies
Sodium-Based SSB Research
Chapter 4 Emerging Technologies and Developments
Overview
Key Emerging Technologies
Iron Flow Batteries
Iron-Chromium Redox Flow Batteries (RFBs)
Nanotechnology-based Anode and Cathode Materials for SIBs
Advanced Electrolytes
Emerging Roles of AI and Machine Learning
Thermal Management System (TMS)
Bottom Electrodeposition
Patent Analysis
Overview
Significant Patent Grants
Key Findings
Chapter 5 Market Segmentation Analysis
Segmentation Breakdown
Market Analysis by Battery Type
Key Takeaways for Battery Type
Sodium-Ion Battery (SIB)
Flow Battery
Solid-State Battery (SSB)
Others
Market Analysis by End Use
Key Takeaways for End Use
Mobility
Power
Consumer Electronics
Others
Geographic Breakdown
Market Analysis by Region
Key Takeaways for Region
North America
Europe
Asia-Pacific
Rest of the World (RoW)
Chapter 6 Competitive Landscape
Overview
Market Ranking Analysis
Competitive Analysis for Top 5 Companies in the Global Next-Generation Advanced Batteries Market
CATL
Sumitomo Electric Industries Ltd.
LG Energy Solution Ltd.
NGK Insulators Ltd.
Invinity Energy Systems
Key Developments
Chapter 7 Sustainability in the Next-Generation Advanced Batteries Market: An ESG Perspective
Introduction to ESG
Environmental Impact
Social Impact
Governance Impact
Current Status of ESG in the Market
Consumer Attitudes Toward ESG
Case Study: Examples of Successful Implementation of ESG
LG Energy Solution
Invinity Energy Systems
Sumitomo Electric Industries Ltd.
Concluding Remarks from BCC Research
Chapter 8 Appendix
Methodology
Research Steps
References
Abbreviations
Company Profiles
BLUE SOLUTIONS S.A.S.
CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD.
ESS TECH INC.
FARADION
HINA BATTERY TECHNOLOGY CO. LTD.
ILIKA
INVINITY ENERGY SYSTEMS
LG ENERGY SOLUTION
NATRON ENERGY INC.
NGK INSULATORS LTD.
PANASONIC ENERGY CO. LTD.
PRIMUS POWER SOLUTIONS
QUANTUMSCAPE BATTERY INC.
SK ON CO. LTD.
SUMITOMO ELECTRIC INDUSTRIES LTD.
Other Notable Players in the Global Next-Generation Advanced Batteries Market
List of Tables
Summary Table : Global Market for Next-Generation Advanced Batteries, by Region, Through 2029
Table 1 : Next-Generation Advanced Batteries Market: Major Raw Material Producing Countries
Table 2 : Comparison Between Flow Batteries and Lithium-Ion Batteries
Table 3 : Key Patents for Next-Generation Advanced Batteries, 2023 and 2024
Table 4 : Global Market for Next-Generation Advanced Batteries, by Battery Type, Through 2029
Table 5 : Global Market for Sodium-Ion Batteries, by Region, Through 2029
Table 6 : Global Market for Flow Batteries, by Region, Through 2029
Table 7 : Global Market for Solid-State Batteries, by Region, Through 2029
Table 8 : Global Market for Other Next-Generation Advanced Batteries, by Region, Through 2029
Table 9 : Global Market for Next-Generation Advanced Batteries, by End Use, Through 2029
Table 10 : Global Market for Next-Generation Advanced Batteries for Mobility, by Region, Through 2029
Table 11 : Global Market for Next-Generation Advanced Batteries for Power, by Region, Through 2029
Table 12 : Global Market for Next-Generation Advanced Batteries for Consumer Electronics, by Region, Through 2029
Table 13 : Global Market for Next-Generation Advanced Batteries for Other Industries, by Region, Through 2029
Table 14 : Global Market for Next-Generation Advanced Batteries, by Region, Through 2029
Table 15 : North American Market for Next-Generation Advanced Batteries, by Battery Type, Through 2029
Table 16 : North American Market for Next-Generation Advanced Batteries, by End Use, Through 2029
Table 17 : North American Market for Next-Generation Advanced Batteries, by Country, Through 2029
Table 18 : European Market for Next-Generation Advanced Batteries, by Battery Type, Through 2029
Table 19 : European Market for Next-Generation Advanced Batteries, by End Use, Through 2029
Table 20 : European Market for Next-Generation Advanced Batteries, by Country, Through 2029
Table 21 : Asia-Pacific Market for Next-Generation Advanced Batteries, by Battery Type, Through 2029
Table 22 : Asia-Pacific Market for Next-Generation Advanced Batteries, by End Use, Through 2029
Table 23 : Asia-Pacific Market for Next-Generation Advanced Batteries, by Country, Through 2029
Table 24 : RoW Market for Next-Generation Advanced Batteries, by Battery Type, Through 2029
Table 25 : RoW Market for Next-Generation Advanced Batteries, by End Use, Through 2029
Table 26 : RoW Market for Next-Generation Advanced Batteries, by Country, Through 2029
Table 27 : Leading Companies in the Global Next-Generation Advanced Batteries Market
Table 28 : Key Developments in the Global Next-Generation Advanced Batteries Market, 2022-2024
Table 29 : ESG Risk Rating Metric, by Company, 2025*
Table 30 : ESG Targets of Sumitomo Electric Industries Ltd., 2025
Table 31 : Abbreviations Used in the Report
Table 32 : Blue Solutions S.A.S.: Company Snapshot
Table 33 : Blue Solutions S.A.S.: Product Portfolio
Table 34 : Blue Solutions S.A.S : News/Key Developments, 2022 and 2023
Table 35 : Contemporary Amperex Technology Co. Ltd.: Company Snapshot
Table 36 : Contemporary Amperex Technology Co. Ltd.: Financial Performance, FY 2023 and 2024
Table 37 : Contemporary Amperex Technology Co. Ltd.: Product Portfolio
Table 38 : Contemporary Amperex Technology Co. Ltd.: News/Key Developments, 2024
Table 39 : ESS Tech Inc.: Company Snapshot
Table 40 : ESS Tech Inc.: Financial Performance, FY 2023 and 2024
Table 41 : ESS Tech Inc.: Product Portfolio
Table 42 : ESS Tech Inc.: News/Key Developments, 2023 and 2024
Table 43 : Faradion: Company Snapshot
Table 44 : Faradion: Product Portfolio
Table 45 : HiNa Battery Technology Co. Ltd.: Company Snapshot
Table 46 : HiNa Battery Technology Co. Ltd.: Product Portfolio
Table 47 : Ilika: Company Snapshot
Table 48 : Ilika: Financial Performance, FY 2022 and 2023
Table 49 : Ilika: Product Portfolio
Table 50 : Ilika: News/Key Developments, 2023
Table 51 : Invinity Energy Systems: Company Snapshot
Table 52 : Invinity Energy Systems: Financial Performance, FY 2022 and 2023
Table 53 : Invinity Energy Systems: Product Portfolio
Table 54 : Invinity Energy Systems: News/Key Developments, 2023 and 2024
Table 55 : LG Energy Solution: Company Snapshot
Table 56 : LG Energy Solution: Financial Performance, FY 2023 and 2024
Table 57 : LG Energy Solution: Product Portfolio
Table 58 : Natron Energy Inc.: Company Snapshot
Table 59 : Natron Energy Inc.: Product Portfolio
Table 60 : Natron Energy Inc.: News/Key Developments, 2023 and 2024
Table 61 : NGK Insulators Ltd.: Company Snapshot
Table 62 : NGK Insulators Ltd.: Financial Performance, FY 2022 and 2023
Table 63 : NGK Insulators Ltd.: Product Portfolio
Table 64 : Panasonic Energy Co. Ltd.: Company Snapshot
Table 65 : Panasonic Energy Co. Ltd.: Financial Performance, FY 2022 and 2023
Table 66 : Panasonic Energy Co. Ltd.: Product Portfolio
Table 67 : Primus Power Solutions: Company Snapshot
Table 68 : Primus Power Solutions: Product Portfolio
Table 69 : QuantumScape Battery Inc.: Company Snapshot
Table 70 : QuantumScape Battery Inc.: Financial Performance, FY 2023 and 2024
Table 71 : QuantumScape Battery Inc.: Product Portfolio
Table 72 : QuantumScape Battery Inc.: News/Key Developments, 2023 and 2024
Table 73 : SK On Co. Ltd.: Company Snapshot
Table 74 : SK On Co. Ltd.: Product Portfolio
Table 75 : SK On Co. Ltd.: News/Key Developments, 2023 and 2024
Table 76 : Sumitomo Electric Industries Ltd.: Company Snapshot
Table 77 : Sumitomo Electric Industries Ltd.: Financial Performance, FY 2022 and 2023
Table 78 : Sumitomo Electric Industries Ltd.: Product Portfolio
Table 79 : Sumitomo Electric Industries Ltd.: News/Key Developments, 2022 and 2023
Table 80 : Other Notable Players in the Global Next-Generation Advanced Batteries Market
List of Figures
Summary Figure : Share of Global Market for Next-Generation Advanced Batteries, by Region, 2023
Figure 1 : Value Chain for the Global Next-Generation Advanced Batteries Market
Figure 2 : Porter's Five Forces Model for the Next-Generation Advanced Batteries Market
Figure 3 : Lithium-Ion Battery Price Chart, 2020-2023
Figure 4 : Global Electric Car Sales, 2020-2023
Figure 5 : Market Dynamics of Next-Generation Advanced Batteries
Figure 6 : Capacity Addition of Renewable Energy in the Global Market, 2023-2027
Figure 7 : Global Investment in Grid-Level Energy Storage, 2020-2024
Figure 8 : Granted Patents for Next-Generation Advanced Batteries, 2021-2024
Figure 9 : Share of Patents for Next-Generation Advanced Batteries, by Applicant, 2024
Figure 10 : Share of Global Market for Next-Generation Advanced Batteries, by Battery Type, 2023
Figure 11 : Share of Global Market for Sodium-Ion Batteries, by Region, 2023
Figure 12 : Share of Global Market for Flow Batteries, by Region, 2023
Figure 13 : Share of Global Market for Solid-State Batteries, by Region, 2023
Figure 14 : Share of Global Market for Other Next-Generation Advanced Batteries, by Region, 2023
Figure 15 : Share of Global Market for Next-Generation Advanced Batteries, by End Use, 2023
Figure 16 : Share of Global Market for Next-Generation Advanced Batteries for Mobility, by Region, 2023
Figure 17 : Global Addition to Battery Storage Capacity, 2020-2023
Figure 18 : Share of Global Market for Next-Generation Advanced Batteries for Power, by Region, 2023
Figure 19 : Share of Global Market for Next-Generation Advanced Batteries for Consumer Electronics, by Region, 2023
Figure 20 : Share of Global Market for Next-Generation Advanced Batteries for Other Industries, by Region, 2023
Figure 21 : Share of Global Market for Next-Generation Advanced Batteries, by Region, 2023
Figure 22 : Share of North American Market for Next-Generation Advanced Batteries, by Battery Type, 2023
Figure 23 : Share of North American Market for Next-Generation Advanced Batteries, by End Use, 2023
Figure 24 : Share of North American Market for Next-Generation Advanced Batteries, by Country, 2023
Figure 25 : Share of European Market for Next-Generation Advanced Batteries, by Battery Type, 2023
Figure 26 : Share of European Market for Next-Generation Advanced Batteries, by End Use, 2023
Figure 27 : Share of European Market for Next-Generation Advanced Batteries, by Country, 2023
Figure 28 : Share of Asia-Pacific Market for Next-Generation Advanced Batteries, by Battery Type, 2023
Figure 29 : Share of Asia-Pacific Market for Next-Generation Advanced Batteries, by End Use, 2023
Figure 30 : Share of Asia-Pacific Market for Next-Generation Advanced Batteries, by Country, 2023
Figure 31 : Share of RoW Market for Next-Generation Advanced Batteries, by Battery Type, 2023
Figure 32 : Share of RoW Market for Next-Generation Advanced Batteries, by End Use, 2023
Figure 33 : Share of RoW Market for Next-Generation Advanced Batteries, by Country, 2023
Figure 34 : Competitive Analysis for Top 5 Companies in Global Next-Generation Advanced Batteries Market, 2023
Figure 35 : Contemporary Amperex Technology Co. Ltd.: Revenue Share, by Business Unit, FY 2024
Figure 36 : Contemporary Amperex Technology Co. Ltd.: Revenue Share, by Country/Region, FY 2024
Figure 37 : ESS Tech Inc.: Revenue Share, by Business Unit, FY 2024
Figure 38 : Ilika: Revenue Share, by Country/Region, FY 2023
Figure 39 : Invinity Energy Systems: Revenue Share, by Business Unit, FY 2023
Figure 40 : Invinity Energy Systems: Revenue Share, by Country/Region, FY 2023
Figure 41 : LG Energy Solution: Revenue Share, by Country/Region, FY 2024
Figure 42 : NGK Insulators Ltd.: Revenue Share, by Business Unit, FY 2023
Figure 43 : NGK Insulators Ltd.: Revenue Share, by Country/Region, FY 2023
Figure 44 : Panasonic Energy Co. Ltd.: Revenue Share, by Business Unit, FY 2023
Figure 45 : Sumitomo Electric Industries Ltd.: Revenue Share, by Business Unit, FY 2023
Figure 46 : Sumitomo Electric Industries Ltd.: Revenue Share, by Country/Region, FY 2023
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