Battery Production Machine Market Will Touch USD 36,409 Million by 2030

[Pramod Kumar]

The battery production machine market generated a value of USD 7,227 million in 2022, and it will touch USD 36,409 million, propelling at a 22.40% compound annual growth rate, by 2030 as per a report by P&S Intelligence. The growth of the industry is driven by the growing gigafactories of lithium-ion, increasing public consciousness regarding environmental issues, and mounting requirement for e-vehicles.

The industry of transportation has an opportunity to shift away from fossil fuels with electric vehicles. The lessening of local pollution and growing energy efficiency are two benefits of electrifying the transportation industry. Additionally, industry players are increasing the innovation pace in automotive technology as they generate new ideas for autonomous, electric, shared, and connected mobility.

The coating & drying category will witness to fastest growth in the industry, growing at the highest compound annual growth rate of 23.6%, in the years to come. 

In 2022, the NMC category accounted for the largest battery production machine market revenue share, at approximately 40%. It is often used in numerous applications, such as electric vehicles and energy systems.

The automotive category will witness the fastest growth in the industry of battery production machines, with the highest growth rate of approximately 26%, in the years to come. 

The requirement for lithium-ion battery cells is growing significantly due to the mounting sales and production of electric vehicles. Furthermore, vehicle manufacturers are increasing their plans for electric vehicles, and most of them, including Volkswagen Group, Tesla, General Motors, Geely, and Ford, are investing and increasing their gigafactory footprints.

In 2022, APAC accounted for the largest share of the battery production machine industry, at approximately 36%. This is attributed to the reducing price of lithium-ion batteries and its technical advantages, the adoption of integrated energy storage solutions using lithium-ion batteries is expected to rise in the years to come.

Furthermore, the automotive industry in China has been rapidly growing and the nation is playing a vital role in the global industry of automotive. The nation has been the single largest buyer of Li-ion batteries for five consecutive years. The nation is the leader in the production of batteries. 

Additionally, the Indian battery production machine industry has had phenomenal growth, which will last over the next few years. India is currently the largest industry worldwide in terms of volume growth, because of the growth of light automobiles all over the world.

Hence, with the increasing demand for electric vehicles, growing public consciousness regarding environmental issues, and the mounting number of lithium-ion gigafactories, the global battery production machine industry will continue to grow significantly in the years to come.