Growing Markets for Batteries and Energy Storage Solutions

The Battery as a Service (BaaS) market is expected to grow annually by a CAGR between 2023 and 2030. The Global EV SOLID State Battery Market is projected to reach a total opportunity of USD 1479.07 Mn by 2029, with a CAGR of 44% during the forecast period. The global lead acids battery market is projected to expand at a CAGR of 6% between 2023 and 2035, reaching a revenue of USD 90 billion by 2035. The automotive battery market in Australia and New Zealand is expected to reach US$ 1.87 billion by 2033, growing at a CAGR of 7.4% from 2023 to 2033. The global and China solid-state battery industry is experiencing significant growth due to the increasing demand for power batteries in the new energy vehicle market.