Battery Market Size, Trends, Growth, Analysis, Statistics 2029

The global battery market is largely driven by the automotive industry. The use of batteries in two-wheelers and four-wheelers for starting, lighting, and ignition (SLI) applications has increased significantly due to the robust growth in vehicle manufacturing across the world. Moreover, government efforts to boost automotive battery production are also expected to bode well for the global battery market. In emerging nations, the switch to electric mobility has invited many investments in battery manufacturing and development, creating novel outcomes across the battery market. In addition, incentives directed towards advancements in cell chemistry and the manufacturing of lithium-ion batteries are predicted to unlock fresh demand for lithium-ion batteries. During the forecast period, such developments are likely to influence M&A, cross-collaboration, and rigorous R&D in the battery market.

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