Battery Market Size Worth $310.8 Billion By 2027 | CAGR: 14.1%
Battery Industry Overview The global battery market size is expected to reach USD 310.8 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 14.1% from 2020 to 2027. Technological advancements in terms of enhanced efficiency and cost reduction are likely to open new paths for the global market over the estimated period. Increasing use in aircraft emergency systems in case of non-availability of auxiliary power units (APUs) for ground operations, restarting, and braking the auxiliary power units is expected to propel high capacity battery demand. High density and low cost of the lead-acid battery will support use in grid storage and emergency power supply applications, thus augmenting the market growth. Battery Market Segmentation Grand View Research has segmented the global battery market report on the basis of product, application, and region: Based on the Product Insights, the market is segmented into lead acid, lithium...