Battery-powered products and the batteries that power them grew spectacularly in the early 2000s. Now, after a nearly decade-long hiatus, battery market development is back and running strong.

Global markets for batteries used in portable battery-powered products reached $53.0 billion in 2018 and will advance from $56.5 billion in 2019 to $94.8 billion through 2024, for a compound annual growth rate (CAGR) of 10.9% during that period.