Australia Battery Market by Type (Lead Acid, Lithium Ion, Nickel Metal Hydride, Nickel Cadmium, and Others), by Application (Residential, Industrial, and Commercial), and by Power Systems (Fuel Cell Batteries, Proton-Exchange Membrane Fuel Cells, Alkaline Fuel Cells, Phosphoric Acid Fuel Cells, Solid Oxide Fuel Cells, Molten Carbonate Fuel Cells, Air Cells, Flywheel Energy Storage, Nuclear Batteries) – Opportunity Analysis and Industry Forecast 2023-2030

Market Overview

Australia Battery Market was valued at USD 1.57 billion in 2022, and is predicted to reach USD 4.01 billion by 2030, with a CAGR of 12.4% from 2023 to 2030. A battery operates as a mechanism that stores energy and later releases it by transforming chemical energy into electrical energy. Typically, batteries produce electricity by harnessing one or more electrochemical cells.

Batteries can be categorized into two distinct types: primary batteries and secondary batteries. Primary batteries, also known as non-rechargeable batteries, offer a straightforward and convenient energy supply for various portable electronic and electrical devices, including cameras, watches, toys, lights, radios, and more. In contrast, secondary batteries, often referred to as rechargeable batteries, possess the capability to be recharged electrically once they've been depleted. These energy storage solutions have evolved into indispensable sources of power in our daily routines. 

The progress of cutting-edge technologies, encompassing smartphones, tablets, laptops, solar energy systems, and electric vehicles (EVs), has ushered in the era of robust batteries capable of prolonged endurance and providing essential energy requirements.

Australia's Essential Mineral Wealth for Modern Battery Production

Australia is home to enormous mineral wealth and one of the leading industries in Australia is the mining industry. The country has one of the most extensive reserves of metals such as lithium, nickel, and cobalt, which are essential for the production or manufacturing of modern batteries. According to the United States Geological Survey data, Australia has the second largest cobalt reserves globally. 

Thus, presence of strong mining industry along with the extraction, enrichment, and utilization of these vast reserves of rare metals is expected to drive the Australian battery market during the forecast period. For instance, in August 2021, the Australian mining company Australian Mines Limited signed a 6-year agreement with LG Energy, a subsidiary of LG Chem. The agreement involves a deal under which LG Energy will purchase 71,000 dry metric ton of nickel and 7,000 dry metric ton of cobalt from Australian Mines Limited starting from the end of 2024. 

According to the U.S. Geological Survey, Australia is world’s largest producer and exporter of lithium. Lithium is the most important component for manufacturing batteries used for energy storage systems and electric vehicles. Most of the lithium, which is used in the manufacturing of such batteries, is exported as spodumene concentrate that requires further processing. Thus, several Australian mining companies are collaborating with foreign companies to commercially set up lithium extraction and enrichment plants to produce battery-grade lithium in Australia. 

For instance, in December 2020, IGO Australia and Tianqi Lithium partnered to produce lithium hydroxide in Kwinana refinery in Western Australia. In addition, in September 2021, Covalent Lithium announced a project to construct a new world-class 50,000-metric ton lithium hydroxide refinery in Kwinana, Australia. Furthermore, factors such as increasing demand for consumer electronics, penetration of electric vehicles, and increasing penetration of renewable energy is expected to boost the demand for energy storage systems, eventually driving the battery market during the forecast period.

Concerns Regarding Battery Safety in Australia

Improper battery management presents significant risks to both human health and the environment. An ongoing issue involves the incorrect disposal of used batteries, leading to their buildup in landfills. Over time, these batteries break down, releasing harmful substances that seep into the soil and adversely affect surface water and groundwater, disrupting aquatic ecosystems. Elements like mercury, cadmium, lithium, and lead found in these batteries exacerbate this ecological imbalance, underscoring the urgency for proper battery disposal practices. Consequently, these concerns are anticipated to impede the progression of the battery market.

Introduction of Nano-Diamond Batteries (NDB) in Multiple Industries

The growing adoption of Nuclear Diamond Batteries (NDBs) across various sectors including automotive, aerospace, and electronics is positioned to create fresh avenues in Australia's battery market. NDBs represent a groundbreaking leap in energy generation and storage, fundamentally reshaping conventional battery concepts. These batteries showcase remarkable endurance by harnessing the energy derived from the radioactive decay of nuclear waste. The trajectory of Australia's battery market is being shaped by the compelling attributes of NDBs, which encompass their compact form, adaptability, cost-efficiency, and scalability across a wide array of applications, ranging from compact chipsets to expansive industrial setups. Functioning as advanced diamond-based alpha, beta, and neutron voltaic batteries, NDBs offer a consistent source of clean energy for a diverse spectrum of applications, surpassing the performance of traditional chemical batteries.

Competitive Landscape

The Australia battery industry includes several market players such as LG Chem Ltd., CATL, Samsung SDI Co. Ltd., BYD, SKI, ENVISION AESC GROUP LTD., Gotion High tech Co Ltd, Primearth EV Energy Co., Ltd., China Aviation Lithium Battery Co., Ltd., Panasonic Corporation.

Key Benefits

• The Australia battery market report provides a quantitative analysis of the current market and estimations through 2023-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.

• The competitive analysis of the market players along with their market share in the Australia battery market.

• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

Australia Battery Market Key Segments

By Type

• Lead Acid

  • Stationary

  • Motive

• Lithium Ion

  • Lithium Nickel Manganese Cobalt (LI-NMC)

  • Lithium Iron Phosphate (LFP)

  • Lithium Cobalt Oxide (LCO)

  • Lithium Titanate Oxide (LTO)

  • Lithium Manganese Oxide (LMO)

  • Lithium Nickel Cobalt Aluminum Oxide (NCA)

• Nickel Metal Hydride

• Nickel Cadmium

• Others

By Application

• Residential

• Industrial

  • Manufacturing & Construction

  • Automotive

  • Medical

  • Telecom & IT

  • Consumer Electronics

  • Power & Utility

  • Aerospace

  • Marine

  • Others

• Commercial

By Power Systems

• Fuel Cell batteries

• Proton-Exchange Membrane Fuel Cells

• Alkaline Fuel Cells

• Phosphoric Acid Fuel Cells

• Solid Oxide Fuel Cells

• Molten Carbonate Fuel Cells

• Air Cells

• Flywheel Energy Storage

• Nuclear Batteries

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