Battery Production Machine Industry Projected to reach $37.59 billion in 2029

DELRAY BEACH, Fla. - Oct. 3, 2024 - PRLog -- Global battery production machine market is anticipated to reach USD 13.26 billion by 2024 and is expected to reach USD 37.59 billion by 2029, at a CAGR of 23.2%.

The battery production machine market represents the global industry that manufactures and supplies equipment and machinery for producing different kinds of batteries, especially lithium-ion batteries. The variety of machines that fall under this market is enormous and covers those to be used in the assembly, testing, and packaging of battery cells. The demand for battery production machines is driven by the fast-growing electric vehicle industry, solutions for renewable energy, and portable electronic devices. Advances in the battery technology are going to produce newer battery constructions and chemistries, demanding changing needs by manufacturers and researchers, which would keep up the level of demand for specialized production equipment.

Based on Machine Type, Coating and drying machines are likely to grow at a significant CAGR during the forecast period. These machines ensure that the electrode materials are properly applied and cured in a lithium-ion battery and have a direct effect on the performance and efficiency of the finished product. The growing demand for high-performance batteries that continue to emanate from electric vehicles as well as energy storage systems is driving the demand for more advanced coating and drying technologies. Newer models have focused more on improvements of uniformity coating, speeding up drying processes, and cost cuts. Along with better quality and a greater efficiency of battery production, the growth of these machines is concurrent with improvements in the industry as a whole.

Based on Battery Type, Nickel Manganese Cobalt (NMC) batteries are expected to hold a significant share of the battery production machine market in the forecast period. NMC-type batteries have high energy density, cyclic longevity, and superior thermal stability compared to all other battery chemistries. All these properties make it suitable for a large number of applications, such as electric vehicles, consumer electronics, and energy storage systems.

Based on the Region, The Asia Pacific region is expected to hold the largest market share for the battery production machine market during the forecast period, due to strong regional presence in battery manufacturing driven by the key countries-China, Japan, and South Korea that have also held leadership in electric vehicle (EV) battery production and energy storage solutions worldwide. Second, growing government support for clean energy initiatives and investment in the construction of infrastructure for electric vehicles increase demand for advanced battery production machines.

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