DELRAY BEACH, Fla., Oct. 2, 2024 /PRNewswire/ — The global battery production machine market size is projected to reach USD 37.59 billion in 2029 from USD 13.26 billion in 2024, with a CAGR of 23.2% according to a new report by MarketsandMarkets™. Strong demand for electric vehicles (EVs) and the growth of gigafactories that are looking for advanced manufacturing equipment for lithium-ion batteries are key drivers for the battery production machine market. Advances in battery materials, government policies that support clean energy, and increased focus on sustainability are also fuelling the growth in demand. The market is further driven by a requirement for energy storage solutions in renewable applications.
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Browse in-depth TOC on “Battery Production Machine Market”
150 – Tables
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250 – Pages
Battery Production Machine Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2024 |
$ 13.26 billion |
|
Estimated Value by 2029 |
$ 37.59 billion |
|
Growth Rate |
Poised to grow at a CAGR of 23.2% |
|
Market Size Available for |
2020–2029 |
|
Forecast Period |
2024–2029 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Machine Type, Battery Type, Application and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Key Market Challenge |
Adaptability issues with continuously developing new battery technologies |
|
Key Market Opportunities |
Rising demand for lithium-ion batteries in various industries |
|
Key Market Drivers |
Favorable government policies and regulations |
Nickel Manganese Cobalt (NMC) batteries are projected to achieve substantial CAGR growth in the battery production machine market during the forecast period.
Nickel Manganese Cobalt (NMC) battery is expected to grow with a significant CAGR in battery production machine market. This is due to its high energy density, thermal stability, and reliability compared to other solutions as it finds specific application in electric vehicles and energy storage. Its performance-to-cost value balance appeals to manufacturers looking towards increasing efficiency while managing the costs of their production processes. The demand for NMC batteries is on the rise in areas such as automotive, renewable energy, and consumer electronics. Specialized machinery for manufacturing NMC is expected to grow at an impressive CAGR during the forecast period.
Assembling and handling machines are projected to hold a significant share throughout the forecast period.
Over the forecasting period, assembling and handling machines are expected to hold a significant market share. It is due to their capacity to arrange as well as optimize the processes in battery assembly. They automate vital processes that encompass electrode stacking, separator insertion, and integration into modules and packs. Advanced robotics and precision engineering guarantee constant quality with less time consumption and hardly any human error. The demand for reliable energy storage, notably in electric vehicles, renewable energy systems, and consumer electronics, will continue to push manufacturers to face more efficient, scalable assembly solutions.
Industrial applications are expected to hold a significant market share in the battery production machine market.
The industrial application is expected to hold a significant share of battery production machine market during the forecast period. This is primarily driven by the increasing demand for sophisticated energy storage solutions across a number of different industrial sectors. High-performance batteries are gaining importance as industries focus on efficiency and sustainability, with production requirements that utilize highly specialized production machinery guaranteed for quality and dependability. With advanced manufacturing techniques like automation and precision engineering, production capabilities take a step forward with industrial batteries, thereby making it an important segment in the battery production machine market.
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Europe is expected to hold a significant market share during the forecast period.
Europe is expected to account for a significant market share in the battery production machine industry during the forecast period due to strong adoption of electric vehicles and growth in building up the ecosystem for battery manufacturing. Investments in gigafactories used to produce lithium-ion batteries for EVs and renewable energy storage are substantial. This growth is being led by European nations, particularly Germany, where clean energy policies are encouraged, and local development of these products is encouraged. The fact that Europe is keen on reducing its dependence on imported batteries and, in a way, become a pivotal connection in their global supply chain means that demand for highly advanced production machines will increase enormously.
Key Players
Major companies operating in this battery production machine companies include Hitachi High-Tech Corporation (Japan), Dürr Group (Germany), Lead Intelligent Equipment Co., Ltd. (China), Schuler Group (Germany), and Yinghe Technology Co., Ltd .(China).
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