Battery Manufacturing in Canada - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Power source: Manufacturers must adapt to changing market conditions to remain competitive

The Battery Manufacturing industry in Canada has experienced strong growth in recent years; there is growing demand for batteries in various applications, including portable electronics, electric vehicles, and renewable energy storage. This has created opportunities for Canadian battery manufacturers to expand their operations and increase production. The Canadian government has made significant investments in the development and commercialization of battery technology, including funding research and development programs, providing tax incentives and supporting the growth of the electric vehicle industry. This support has helped to attract investment and create opportunities for Canadian battery manufacturers. Consequently, industry revenue is anticipated to grow at a CAGR of 11.2% to reach $362.7 million over the five years to 2023, including a rise of 7.0% in 2023 alone.

This industry manufactures two types of batteries, which include primary and secondary batteries. Secondary batteries are also known as rechargeable or storage batteries. Primary batteries have only one life and are not rechargeable. Industry products have a variety of uses, including in cell phones, medical equipment, households and the automotive and transport sectors.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.