As the world shifts towards sustainable energy solutions, the spotlight is increasingly falling on next-generation advanced batteries. These cutting-edge power storage systems are reshaping industries—from electric vehicles (EVs) to renewable energy storage—while opening new doors for technological innovation and economic growth. This blog delves into the current state and future outlook of the global market for next-generation batteries.
The global market for next-generation advanced batteries is estimated to grow from $1.5 billion in 2024 to reach $5.3 billion by the end of 2029, at a compound annual growth rate (CAGR) of 28.5% from 2024 through 2029. This rapid expansion is fueled by the electrification of transportation, rising demand for clean energy, and innovations in battery chemistries.