Singapore Battery Market Size & Outlook, 2025-2030
Global Market
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Singapore battery market highlights
- The Singapore battery market generated a revenue of USD 1,897.2 million in 2024 and is expected to reach USD 5,218.8 million by 2030.
- The Singapore market is expected to grow at a CAGR of 18.7% from 2025 to 2030.
- In terms of segment, lithium ion was the largest revenue generating product in 2024.
- Flow Battery is the most lucrative product segment registering the fastest growth during the forecast period.
Battery market data book summary
| Market revenue in 2024 | USD 1,897.2 million |
| Market revenue in 2030 | USD 5,218.8 million |
| Growth rate | 18.7% (CAGR from 2025 to 2030) |
| Largest segment | Lithium ion |
| Fastest growing segment | Flow Battery |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lead Acid, Lithium Ion, Nickel-based, Sodium-ion, Flow Battery, Small Sealed Lead-acid Batteries |
| Key market players worldwide | BYD Co Ltd ADR, GS Yuasa Corp, Hitachi Ltd, Johnson Controls International PLC, LG Chem, NEC Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Toshiba Corporation |
Other key industry trends
- In terms of revenue, Singapore accounted for 1.4% of the global battery market in 2024.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China battery market is projected to lead the regional market in terms of revenue in 2030.
- Vietnam is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,479.2 million by 2030.
In Singapore, the risen adoption of carbon capture and storage, energy storage, and hydrogen technologies is expected to support its energy transition and decarbonization goals. This is anticipated to contribute to the adoption of batteries across the country.
Lithium-ion batteries are expected to dominate the battery market in Singapore in the coming years owing to rising sales of EVs in the country. In October 2023, the Agency for Science, Technology and Research (A*STAR) announced a new line for testing and disassembling EV batteries.
The line, located at ARTC A*STAR, uses Industry 4.0 technologies, including automation, intelligent vision inspection, robotics, and diagnostics, to improve existing methods for disassembling EV battery packs that can be a dangerous, tedious, and labor-intensive process.
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Publish Date: Apr 20, 2026
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Battery Market Scope
Battery Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Hitachi Ltd | View profile | 322,525 | 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan, 100-8280 | www.hitachi.com |
| Johnson Controls International PLC | View profile | 102,000 | One Albert Quay, Cork, Ireland, T12 X8N6 | www.johnsoncontrols.com |
| Panasonic Holdings Corp | View profile | 230,025 | 1006, Oaza Kadoma, Kadoma-shi, Osaka, Japan, 571-8501 | holdings.panasonic |
| Samsung Electronics Co Ltd | View profile | 124,804 | 129, Samsung-ro, Yeongtong-gu, Gyeonggi-do, Suwon-si, Korea, Republic of, 443-742 | www.samsung.com |
| NEC Corp | View profile | 118,527 | 7-1, Shiba 5-chome, Minato-ku, Tokyo, Japan, 108-8001 | www.nec.com |
| Toshiba Corporation | View profile | 10001+ | Tokyo, Tokyo, Japan, Asia | www.toshiba.com/tai/ |
| LG Chem | View profile | 10001+ | Seoul, Seoul-t'ukpyolsi, South Korea, Asia | www.lgchem.com |
| BYD Co Ltd ADR | View profile | 703,504 | No. 3009, BYD Road, Pingshan, Guangdong Province, Shenzhen, China, People's Republic of, 518118 | www.byd.com |
| GS Yuasa Corp | View profile | 17,031 | 1, Inobanba-cho, Nishinosho, Kisshoin, Minami-ku, Kyoto, Japan, 601-8520 | www.gs-yuasa.com |
Singapore Battery Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Battery Market Outlook will help companies and investors design strategic landscapes.
Lithium Ion was the largest segment with a revenue share of 61.47% in 2024.
Horizon Databook has segmented the Singapore battery market based on lead acid, lithium ion, nickel-based, sodium-ion, flow battery, small sealed lead-acid batteries covering the revenue growth of each sub-segment from 2018 to 2030.
In Singapore, the risen adoption of carbon capture and storage, energy storage, and hydrogen technologies is expected to support its energy transition and decarbonization goals. This is anticipated to contribute to the adoption of batteries across the country.
Lithium-ion batteries are expected to dominate the battery market in Singapore in the coming years owing to rising sales of EVs in the country. In October 2023, the Agency for Science, Technology and Research (A*STAR) announced a new line for testing and disassembling EV batteries.
The line, located at ARTC A*STAR, uses Industry 4.0 technologies, including automation, intelligent vision inspection, robotics, and diagnostics, to improve existing methods for disassembling EV battery packs that can be a dangerous, tedious, and labor-intensive process.
- Singapore Battery Market Product Outlook (Revenue, USD Million , 2018-2030)
- Lead Acid
- Lithium Ion
- Nickel-based
- Sodium-ion
- Flow Battery
- Small Sealed Lead-acid Batteries
- Others
- Singapore Battery Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Aerospace
- Automobile
- Consumer Electronics
- Grid-scale Energy Storage
- Telecom
- Power Tools
- Military & Defense
- Others
- Singapore Battery Market Application Outlook (Revenue, USD Million , 2018-2030)
- Automotive Batteries
- Industrial Batteries
- Portable Batteries
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Horizon Databook provides a detailed overview of country-level data and insights on the Singapore Battery Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Singapore Battery Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Singapore Battery Market, 2018-2030 (US$M)
Singapore battery market statistics, by product, 2018-2030 (US$M)
