Battery and Power Supply Sectors Poised for Remarkable Growth by 2029

2025-10-31 companies

New York, Friday, 31 October 2025.
The battery and power supply sectors are set to see robust growth by 2029, driven by increased demand in automotive production and energy storage. Key markets include SLI batteries and space power supplies.

SLI Battery Market Expansion

The Starting, Lighting, and Ignition (SLI) battery market is projected to grow significantly from $38.89 billion in 2024 to $50.44 billion by 2029. This growth, driven by increased demand for alternative energy solutions and industrial automation, reflects a compound annual growth rate (CAGR) of 5.3% from 2025 to 2029. Key players such as Panasonic Corporation and Johnson Controls International plc are pivotal in this market. The Asia-Pacific region leads this growth, expected to exhibit the fastest expansion during the forecast period [1].

Stationary Lead-Acid and Space Power Supply Growth

The Stationary Lead-Acid Battery market is anticipated to reach $14.7 billion by 2029, with a CAGR of 7.8%. This growth is fueled by the expansion of data centers and the rising demand for grid consistency. Concurrently, the Space Power Supply market is forecasted to exceed $3.95 billion by 2029, driven by surging investments in low earth orbit satellites and satellite-based communication services. Major companies such as Airbus Group SE and Raytheon Technologies Corporation Inc. are key players in this sector [2][3].

Impact on Automotive and Renewable Energy

Battery technology market advancements are largely influenced by the automotive industry’s shift towards electric vehicles (EVs). The global battery market, expected to grow from $130.44 billion in 2025 to $256.08 billion by 2034, highlights the increasing need for energy storage systems. This is further supported by the rise in EV adoption and renewable energy expansion, particularly in regions like Asia Pacific [4][5].

Technological Innovations and Future Prospects

Technological innovations, such as the development of IoT-enabled diagnostics and hybrid energy storage systems, are set to redefine the battery and power supply sectors. The P-Type battery market alone is expected to grow from $2.12 billion in 2024 to $4.26 billion by 2029. As companies like LG Energy Solution and Samsung SDI continue to innovate, the global focus on sustainable and efficient energy solutions remains paramount [6][7].

Sources

battery market power supply