Lithium Battery Manufacturing in the UK - Industry Market Research Report

Charging up: High demand for lithium batteries from the military helps drive revenue growth

Lithium battery manufacturing is ramping up in the UK following substantial support from government-backed R&D investment. Manufacturers are increasingly focused on producing high-quality, low-volume batteries - often to spec - for the defence, medical and automotive industries. Business confidence is a key driver of investment in lithium battery manufacturing, which is driven by the state of the economy. Exports are a key source of revenue; the sustained weakness of the pound has made UK-manufactured batteries more competitively priced, helping to raise export levels. Over the five years through 2023-24, lithium battery manufacturers' revenue is forecast to grow at a compound annual rate of 2.5% to reach £245.3 million.

Companies operating in this industry manufacture lithium and lithium-ion batteries. Industry products are most commonly used in vehicles and electronic devices such as mobile phones, cameras, laptops, pacemakers and toys.

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.