Report : Europe Drone Battery Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Drone Type (Mini Quad and Micro Quad), Battery Type (NiCad, NiMH, and LiPo), Battery Capacity (Below 3,000 mAh, 3,000-5,000 mAh, 5,000-10,000 mAh, and Above 10,000 mAh), and Industry (Agriculture & Forestry, Infrastructure Inspection, Utilities, Construction, Mining, and Others)
At 15.2% CAGR, the Europe Drone Battery Market is speculated to be worth US$ 487.66 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe drone battery market was valued at US$ 209.12 million in 2022 and is expected to reach US$ 487.66 million by 2028, registering a CAGR of 15.2% from 2022 to 2028. Rise in applications of drones across different industries and limited charging capacity of drone batteries are the critical factors attributed to the Europe drone battery market expansion.
Today, the drone industry is considered one of the fastest-growing industries. Drones are used due to the growing need for safe, cost-effective solutions for data collection, mapping & surveying, inspection, logistics, etc. They can perform increasingly complex tasks such as data collection, mapping, and surveying in an extreme environment where manual surveying techniques are risky and impossible. Particularly, using mini and micro quad drones for scanning and surveying solutions is considered extremely beneficial in places where humans cannot perform tasks in a timely and efficient manner.
Various industry players are adopting drone technologies in construction, photography, agriculture, and other industries. Drones helps study aerial data in these industries that helps to provide accurate data in short, the time compared to manual surveying. It can simultaneously collect and provide critical information for a variety of fields, including agricultural fields, construction sites, building inspections, and mining inspections. Surveillance by these drones helps better analyze situations to make certain decisions beneficial to increase productivity. For example, surveillance of drones in agricultural fields helps detect insect and pest situations which can be treated and prevented with early analysis by drone. Thus, using drones as a cost-effective solution to increase productivity is fueling the demand for drones, further propelling the Europe drone battery market.
On the contrary, introduction of fuel cell technologies for small drone applications hurdles the growth of Europe drone battery market.
Based on drone type, Europe drone battery market is segmented into mini quad and micro quad. The mini quad segment held 72.9% market share in 2022, amassing US$ 152.37 million. It is projected to garner US$ 363.59 million by 2028 to expand at 15.6% CAGR during 2022–2028.
Based on battery type, Europe drone battery market is segmented into below NiCad, NiMH, and LiPo. LiPo segment held 87.3% market share in 2022, amassing US$ 182.55 million. It is projected to garner US$ 432.00 million by 2028 to expand at 15.4% CAGR during 2022–2028.
Based on battery capacity, Europe drone battery market is segmented into below 3,000 mAh, 3,000-5,000 mAh, 5,000-10,000 mAh, above 10,000 mAh. The below 3000 mAh segment held 41.9% market share in 2022, amassing US$ 87.60 million. It is projected to garner US$ 216.64 million by 2028 to expand at 16.3% CAGR during 2022–2028.
Based on Industry, Europe drone battery market is segmented into agriculture and forestry, infrastructure inspection, utilities, construction, mining, others. The agriculture and forestry segment held 32.4% market share in 2022, amassing US$ 67.67 million. It is projected to garner US$ 171.23 million by 2028 to expand at 16.7% CAGR during 2022–2028.
Based on country, the Europe drone battery market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that France captured 26.2% market share in 2022. It was assessed at US$ 54.74 million in 2022 and is likely to hit US$ 142.88 million by 2028, exhibiting a CAGR of 17.3% during the forecast period.
Key players dominating the Europe drone battery market are Parrot Drone SAS; Shenzhen Grepow Battery Co Ltd; RRC Power Solutions; and SZ DJI Technology Co Ltd, among others.
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