BATTERY LEASING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Regional Analysis

• Asia Pacific: The Asia Pacific region has emerged as the fastest growing market for battery leasing over the last few years, accounting for over 34% of Countries like China, Japan, and South Korea have strong manufacturing capabilities and a growing consumer appetite for new technologies. Rapid industrialization and urbanization have boosted demand for industrial batteries from various sectors, such as material handling, telecom towers, and energy storage. Several multi-national companies have established leasing subsidiaries in major Asia Pacific markets to tap into the opportunities.
• North America is expected to be the second-largest market for battery leasing during the forecast period, accounting for over 25.2% of the market share in 2023. The U.S. is a major contributor, housing the global headquarters of leading automobile manufacturers who are increasingly focusing on electric fleet deployment. Intense research & development investments across the region have led to the rapid development of next-generation batteries with higher energy densities and lifespans. Furthermore, a well-developed charging infrastructure network has encouraged the commercial adoption of battery-powered equipment.
• Europe: Europe is the third-largest market for battery leasing, accounting for over 20% of the market share in 2023. The region is also investing in the development of battery technology and infrastructure.