Battery Production Machine Market To Generate Revenue Worth $36,409 Million by 2030
- Published: January 2023
The global battery production machine market is projected to generate USD 36,409 million revenue by 2030, advancing at a CAGR of 22.40% during 2022–2030. This will be due to the escalating number of lithium-ion gigafactories, growing demand for electric vehicles, and increasing public awareness of environmental problems.
Due to their benefits, including high energy density, small size, and decreasing cost, lithium-ion batteries have become more popular in a variety of applications, driving the demand for battery production equipment globally. Moreover, advances in digital technology are enabling effective operational maintenance, sales monitoring, and efficient production in the market for battery manufacturing machinery. The increasing disposable incomes in developing countries, decentralized networks, intelligent automation, and a proliferation of demand for smart storage are a few of the important market drivers. Moreover, a high industry growth rate is expected as a result of the post-pandemic economic rebound driving up energy consumption and automotive, industrial, and consumer goods sales.
Nickel−Manganese−Cobalt (NMC) Is Dominating Market
Based on battery type, the NMC category held the largest share, of 40%, in 2022 due to the high energy density of NMCs, which allows for more power output from a given quantity of batteries. The NMC battery's temperature resistance is fairly balanced, and it can operate correctly in both low- and high-temperature environments. Also, the cycle life of an NMC battery is typically only 800 times.
Moreover, lithium iron phosphate (LFP) is expected to grow fastest during the forecast period. This is mainly because they offer better charge and discharge characteristics, are lighter, require no maintenance, and have a substantially longer lifespan.
In addition, high current rating, extended cycle life, less chance of leaks or fires, and tolerance for less-than-ideal charging and discharging cycles are some additional important advantages of LiFePO4.
Moreover, the nickel−cobalt−aluminum battery also holds a significant share. It is an effective material that improves the caliber of lithium-ion batteries and makes them perform more effectively and efficiently. They increase their output and improve their working processes so that they may work in a better setting and produce amazing results.
Moreover, the North American battery production machine market holds a significant share in the global market. The governments of the countries are taking steps to promote the expansion of the market for battery production machines. Additionally, since more clean energy programs, such as net zero emissions, are being implemented throughout the region, there is a major increase in demand for safe and clean lithium-ion batteries, which is helping the market expand. The U.S. government has supported the EVs and renewable energy industries, which is increasing the demand for battery energy storage systems (BESS), mostly driven by lithium-ion batteries. Thus, EV adoption is increasing quickly all throughout the nation.
Along with other countries, such as Canada, which has already started upgrading its transportation infrastructure for electric vehicles, the U.S. is one of the top-selling countries for electric automobiles globally. In the coming years, the market growth is predicted to be fueled by the declining fossil fuel reserves, potential government initiatives, and increasing CO2 emissions.
The major players operating in the global battery production machine market are Wuxi Lead Intelligent Equipment Co Ltd, SHENZHEN YINGHE TECHNOLOGY CO. LTD., Hitachi Ltd., Schuler AG, Dürr AG, The Bühler Holding AG, Guangdong Lyric Robot Automation Co. Ltd., Manz AG, Nordson Corporation, and Rosendahl Nextrom GmbH.