Battery Industry Report 2024: Market Data & Innovations

Innovative battery solutions address issues regarding energy density, battery life, and safety. This report explores key market data as well as areas of innovation and their implications for battery companies worldwide, as well as the global transition to renewable energy.

The 2024 Battery Report presents an in-depth analysis of the sector’s growth, technological advancement, and investment trends. This report highlights the industry’s expansion, with a total workforce and employee growth in the past year. Moreover, it delves into the financial landscape and showcases the investments from top investors and the notable average investment value per funding round.

This battery report serves as a reference for stakeholders in the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights Battery Report 2024

Battery Industry Report 2024 | StartUs Insights

Executive Summary: Battery Industry Report 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 4786+ battery startups developing innovative solutions to present five examples from emerging battery industry trends.

  • Industry Growth Overview: The battery industry experienced growth in 2024, driven by 4786 startups and over 110850 companies.
  • Manpower & Employment Growth: The industry employs over 9.5 million individuals globally. In the past year alone, the sector added 530400 new employees.
  • Patents & Grants: Over 166100 technologies in the industry received patents and more than 9150 companies received grants.
  • Global Footprint: The major country hubs are the USA, India, the UK, Germany, and Australia. Key city hubs include London, New York City, Shenzhen, Sydney, and Melbourne.
  • Investment Landscape: The average investment value per funding round is USD 42.2 million. Over 22680 funding rounds involved more than 7800 investors. In addition, more than 9580 companies received investments.
  • Top Investors: Notable investors such as the European Investment Bank, SoftBank Vision Fund, and the US Department of Energy contribute a combined investment exceeding USD 10.6 billion.
  • Startup Ecosystem: The leading startups include NEO Battery Materials (one-step nanocoating process), Batene (fleece current collectors), SONOCHARGE (semiconductor platform technology), Vocai (on-chip multi-gas sensing technology), and Nanoloy (plasma-printed batteries).
  • Recommendations for Stakeholders: Investors should diversify their portfolios by funding various segments within the battery sector, including early-stage startups focusing on technologies such as solid-state batteries and fast-charging solutions. Moreover, entrepreneurs must prioritize the development of energy storage technologies, seek out grants and funding opportunities, and build partnerships with established battery manufacturers and research institutions. 

Explore the Data-driven Battery Industry Report for 2024

The Battery Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The battery industry encompasses 4786 startups in the database. Over the last year, the industry has experienced a 2.27% growth, supported by more than 166100 patents and over 9150 grants. The global workforce in battery comprises 9.5 million individuals, with an employee growth of 530.4K in the past year.

The top hubs driving battery innovation include the USA, India, UK, Germany, and Australia leading as the top five country hubs, and London, New York City, Shenzhen, Sydney, and Melbourne emerging as the top five city hubs. The heatmap above visualizes the global landscape of the battery industry.

What data is used to create this battery report?

Based on the data provided by our Discovery Platform, we observe that the battery industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

  • News Coverage & Publications: The industry saw news coverage and publications, with more than 144.3K publications in the last year.
    Funding Rounds: Our database records over 22680 funding rounds, reflecting the investment activity.
    Manpower: The workforce in the battery industry exceeds 9.5 million workers, with more than 530.4K new employees added in the last year alone.
  • Patents: The industry holds over 166.1K patents, indicating an emphasis on innovation and intellectual property. 
  • Grants: More than 9150 companies within the industry received grants, supporting further research and development. 
  • Yearly Global Search Growth: The yearly global search growth for the battery industry stands at 15.43% which showcases the increasing interest and demand.
  • and more. Contact us to explore all data points used to create this battery report.

A Snapshot of the Global Battery Industry

The battery industry report highlights key metrics showcasing the growth and dynamism within the sector. The workforce data shows 9.5 million individuals employed, and the industry saw an increase of 530.4 thousand new employees in the last year alone. An ecosystem of over 110850 companies operating within the industry supports this growth.

Explore the Funding Landscape of the Battery Industry

The investment activity in the battery sector records an average investment value of USD 42.2 million per round. The sector attracted more than 7800 investors and closed over 22680 funding rounds, demonstrating financial backing and investor confidence. These investments are spread across more than 9580 companies and highlight the interest and support for innovation and development within the industry.

Who is Investing in Batteries?

The battery market report showcases a sector with financial backing from top investors, who collectively invested more than USD 10.6 billion. This investment highlights the confidence and interest in the industry’s growth and innovation potential.

Lithium hydroxide experiences a surge in the battery industry with an annual trend growth rate of 54.92%. This segment comprises 166 companies and it collectively employs 28.9K individuals. The workforce saw an expansion with 1.4K new employees added in the last year alone. The production of high-performance lithium-ion batteries for electric vehicles and renewable energy storage increases the demand for this trend. 

Solid-state Batteries represent an advancement in battery technology, marked by an annual trend growth rate of 49.5%. This sector includes 258 companies and employs a total of 30.9K individuals. Over the past year, the sector welcomed 2.5K new employees and reflected the pace of development and investment. Solid-state batteries offer advantages such as higher energy density and improved safety, making them an important element after electric vehicles and consumer electronics. 

Grid-scale Energy Storage in the battery industry experiences an annual trend growth rate of 17.24%. This sector comprises 145 companies and includes over 6.9K employees. In the past year, the industry added 1K new employees to indicate steady growth and interest. Grid-scale energy storage solutions balance supply and demand in renewable energy systems and integrate more renewable sources into the grid.

5 Top Examples from 4786+ Innovative Battery Startups

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

NEO Battery Materials follows One-Step Nanocoating Process

Canadian startup NEO Battery Materials develops silicon anode materials for lithium-ion batteries in electric vehicles, electronics, and energy storage systems. The startup’s NBMSiDE technology uses an energy-efficient, one-step nanocoating process to manufacture these anodes. The manufacturing process involves nanocoating silicon particles with nanomaterials at room temperature and pressure. Additionally, it resolves silicon’s volume expansion problem and enhances battery longevity and performance. Thus, the technology increases the driving range of electric vehicles while providing ultra-fast charging capabilities. 

Batene develops Fleece Current Collectors

German startup Batene develops a battery technology product, Batene Fleece, to increase electric energy storage. It advances battery performance by using fleece current collectors instead of traditional 2D foil collectors. Thus, it increases energy density and enables faster charging with improved battery safety. Batene Fleece features millimeter-thick electrodes to enhance mechanical stability and reduce internal resistance, which extends battery life. The technology supports several advanced battery chemistries, including Li-ion silicon anode and solid-state electrolytes. 

SONOCHARGE builds Semiconductor Platform Technology

US-based startup SONOCHARGE develops semiconductor platform technology to enhance the performance and safety of lithium-ion batteries. The startup’s acoustic wave technique utilizes a custom-fabricated piezoelectric device on a wafer die. These devices surface-mount onto thin, flexible circuits inserted underneath the battery module during manufacturing. When activated, the acoustic wave induces homogeneity of lithium ions and reduces lithium plating and limiting dendritic formation. The technology works with cylindrical, pouch, or prismatic cells and for electric vehicles, energy storage, and data centers.

Nanoloy offers Plasma-Printed Batteries

Dutch startup Nanoloy develops plasma-printed battery technology that forms mechanically interlocked molecules and creates strong bonds to enhance battery chemistry. Nanoloy’s innovations include superior interfacial metallic and carbon bonds, new material composites, and thermally fused electrode particles. These delay degradation, increase performance and improve the efficiency of lithium-ion batteries. Moreover, the mature and scalable plasma printer supports the mass production of batteries and integrates with current and future cell chemistries.

Vocai makes On-Chip Multi-Gas Sensing Technology

Israeli startup Vocai makes an on-chip gas sensing technology for advanced battery management. Its complementary metal-oxide semiconductor (CMOS)-based, multi-gas sensors provide high-dimensional data for gas composition analysis. The AI algorithms identify gas types and concentrations to offer molecular insights. An enhancement layer with a chemical coating increases sensor selectivity, sensitivity, and durability. In addition, the integrated system-on-chip (SoC) includes built-in amplification and sampling for better signal processing. Vocai’s technology integrates with existing battery management systems to ensure minimal power usage and scalability for mass production.

Gain Comprehensive Insights into Battery Trends, Startups, or Technologies

The 2024 Battery Industry Report highlights the sector’s focus on innovation, evident through its patent activity and grants supporting research and development. Looking ahead, the emerging innovations drive future advancement in areas such as lithium hydroxide,  solid-state batteries, and grid-scale energy storage. Also, they support environmental goals and shape the next generation of energy storage solutions. Get in touch to explore all 4786+ startups and scaleups, as well as all industry trends impacting battery companies.

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