Battery Technology Market Worth $136.6 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 8, 2022 /PRNewswire/ -- Battery technology market size is estimated to be USD 95.7 billion in 2022 and is projected to reach USD 136.6 billion by 2027, at a CAGR of 7.4%according to a new report by MarketsandMarkets.
- CHICAGO, Nov. 8, 2022 /PRNewswire/ -- Battery technology market size is estimated to be USD 95.7 billion in 2022 and is projected to reach USD 136.6 billion by 2027, at a CAGR of 7.4%according to a new report by MarketsandMarkets.
- The increasing demand for battery-operated electric vehicles and rising adoption of various batteries in renewable energy industry are responsible for the growth of battery technology market.
- Additionally, the installation of batteries is increasing rapidly in utility sector, which is also responsible for the growth of the market.
- Increasing adoption and awareness of electric vehicles thus supports the growth of the battery technology market.