Lithium Battery Manufacturing in the UK - Market Research Report (2014-2029)
London, United Kingdom
Last Updated: May 2024
SIC SP0.090Revenue
£358.5m
Past 5-Year Growth
Profit
£XX.Xm
Employees
773
Businesses
54
Wages
£XX.Xm
Lithium Battery Manufacturing in the UK industry analysis
Lithium battery manufacturing is ramping up in the UK following hefty support from government-backed R&D investment and a competitive market that is seeing a slew of new entrants setting up factories. Manufacturers are focusing on producing high-quality, low-volume batteries that look like big fish in a small pond for the defence, medical and automotive industries.
Trends and Insights
- COVID-19 cuts demand from car manufacturers. The pandemic has forced cutbacks in automotive production due to social distancing and reduced demand, squeezing a key source of sales for lithium battery manufacturers.
- Rising defence spending boosts demand. With the government aiming to up defence spending to 2.5% of GDP, opportunities will open up for lithium battery manufacturers to provide more batteries for military equipment.
- The Midlands offer battery manufacturers a few benefits. Its innovative university research facilities provide a rich environment for advanced technological development, while its position as the UK’s car manufacturing centre offers plenty of sales opportunities.
- Battery manufacturers compete on product quality. They strive to outperform their rivals in delivering high-spec, reliable lithium batteries rather than engaging in price wars.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 1.0 % over the past five years, to reach an estimated £358.5m in 2024.
Trends and Insights
COVID-19 pushes down automotive output
- According to the SMMT, the number of cars manufactured in the UK dropped by 29.3% in 2020. The COVID-19 outbreak was the primary driver of this, with manufacturing facilities cutting capacity in line with social distancing measures and subsequent weak demand from downstream buyers.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Government funding keeps the UK at the forefront of battery manufacturing
- The extension to the Faraday Battery Challenge to 2025 will provide £211 million in funding to the UK's world-leading manufacturing industries.
Biggest companies in the Lithium Battery Manufacturing in the UK
| Company | Market Share (%)
2025 | Revenue (£m)
2025 |
|---|---|---|
Hyperdrive Innovation Ltd | 30.0 | |
Accutronics Ltd | 10.1 | |
ABSL Power Solutions Ltd | 7.3 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Primary batteries and Secondary batteries. Primary batteries is the largest segment of the Lithium Battery Manufacturing in the UK.
Trends and Insights
Their extensive use in electric vehicles keeps sales of primary batteries flowing
- The continuous use of primary batteries in electric vehicles keeps sales steady. Meanwhile, secondary batteries, known for their rechargeable feature, are gaining popularity.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Electronic Component Manufacturing in the UK
- Electric Motor, Generator & Transformer Manufacturing in the UK
- Other Electronic Wire & Cable Manufacturing in the UK
Complementors
- Inorganic Basic Chemical Manufacturing in the UK
- Medical & Dental Instrument Manufacturing in the UK
- Renewable Electricity Generation in the UK
- Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus
International industries
- Battery Manufacturing in the US
- Lithium Battery Manufacturing in the US
- Battery Manufacturing in Canada
- Power Automation Products and Other Electrical Equipment Manufacturing in Australia
- Battery Manufacturing in China
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Primary lithium batteriesSecondary lithium batteriesCompanies
Hyperdrive Innovation LtdAccutronics LtdABSL Power Solutions LtdPurchase this report to view all 3 major companies in this industry.
Related Terms
AUTOMOTIVE BATTERYINDUSTRIAL BATTERYPORTABLE BATTERYIndustry Code
SIC 27.12 - Lithium Battery Manufacturing in the UK
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
COVID-19 cuts demand from car manufacturers. The pandemic has forced cutbacks in automotive production due to social distancing and reduced demand, squeezing a key source of ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Rising defence spending boosts demand. With the government aiming to up defence spending to 2.5% of GDP, opportunities will open up for lithium battery manufacturers to provi...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Midlands offer battery manufacturers a few benefits. Its innovative university research facilities provide a rich environment for advanced technological development, whil...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Battery manufacturers compete on product quality. They strive to outperform their rivals in delivering high-spec, reliable lithium batteries rather than engaging in price war...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Hyperdrive scales lithium battery production. It cemented itself as the UK’s biggest lithium battery when it opened the country's largest independent facility in 2019, doubli...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Hyperdrive Innovation Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Accutronics Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of ABSL Power Solutions Ltd's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Hyperdrive Innovation Ltd, and factors influencing its performance in the industry
- Description and key data for Accutronics Ltd, and factors influencing its performance in the industry
- Description and key data for ABSL Power Solutions Ltd, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Regulations on battery disposal tighten. The Batteries and Accumulators Regulations and Waste Batteries and Accumulators Regulations enforce proper recycling and disposal of ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Lithium battery manufacturers enjoy high profitability. This is driven by their focus on producing high-quality, bespoke products for growing, high-value markets instead of m...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2018-2022)
- Coverage Ratios (2018-2022)
- Leverage Ratios (2018-2022)
- Operating Ratios (2018-2022)
- Assets (2018-2022)
- Liabilities (2018-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the UK include:
- Office for National Statistics
- Office for Budget Responsibility
- Bank of England
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Lithium Battery Manufacturing in the UK industry in United Kingdom in 2024?
The market size of the Lithium Battery Manufacturing in the UK industry in United Kingdom is £358.5m in 2024.
How many businesses are there in the Lithium Battery Manufacturing in the UK industry in 2024?
There are 54 businesses in the Lithium Battery Manufacturing in the UK industry in United Kingdom, which has grown at a CAGR of 12.5 % between 2019 and 2024.
Has the Lithium Battery Manufacturing in the UK industry in United Kingdom grown or declined over the past 5 years?
The market size of the Lithium Battery Manufacturing in the UK industry in United Kingdom has been growing at a CAGR of 1.0 % between 2019 and 2024.
What is the forecast growth of the Lithium Battery Manufacturing in the UK industry in United Kingdom over the next 5 years?
Over the next five years, the Lithium Battery Manufacturing in the UK industry in United Kingdom is expected to grow.
What are the biggest companies in the Lithium Battery Manufacturing in the UK market in United Kingdom?
The biggest companies operating in the Lithium Battery Manufacturing market in United Kingdom are Hyperdrive Innovation Ltd, Accutronics Ltd and ABSL Power Solutions Ltd
What does the Lithium Battery Manufacturing in the UK in United Kingdom include?
Primary lithium batteries and Secondary lithium batteries are part of the Lithium Battery Manufacturing in the UK industry.
Which companies have the highest market share in the Lithium Battery Manufacturing in the UK in United Kingdom?
The company holding the most market share in United Kingdom is Hyperdrive Innovation Ltd.
How competitive is the Lithium Battery Manufacturing in the UK industry in United Kingdom?
The level of competition is high and increasing in the Lithium Battery Manufacturing in the UK industry in United Kingdom.
