Battery Passport Market to Reach USD 734 Million by 2035, Driven by Sustainability Mandates and Digital Supply Chain Transparency

The global battery passport market is expected to reach USD 734 million by 2035, up from USD 74 million in 2024. During the forecast period 2025 to 2035, the industry is projected to register a CAGR of 23.2%. Growing demand for sustainable energy solutions, compliance with regulatory requirements, and digital innovations in supply chain management are fueling this momentum.

Quick Stats for the Battery Passport Market

• Market Value (2024): USD 74 million
• Forecast Value (2035): USD 734 million
• CAGR (2025–2035): 23.2%
• Leading Applications: EV batteries, stationary storage systems, recycling & second-life applications
• Top Growth Regions: Europe, North America, Asia-Pacific
• Notable Companies: Circularise, Circulor, Minespider, RCS Global, IOTA, OPTEL GROUP, Kezzler

Why the Market is Growing

The battery passport market is gaining traction as governments, automakers, and tech providers converge to ensure transparency, sustainability, and circular economy compliance in the energy storage sector.

• Sustainability & Compliance: EU and global mandates requiring battery traceability are driving adoption across EV and stationary battery applications.
• Digital Transformation: Blockchain, IoT, and AI-powered platforms enhance supply chain accountability and enable real-time lifecycle data tracking.
• EV Boom: Surging electric vehicle sales create demand for secure, verifiable tracking of raw materials, carbon footprint, and recycling pathways.
• Circular Economy Shift: Growing emphasis on second-life batteries and closed-loop recycling boosts the importance of verified digital passports.

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Segmental Analysis

EV Battery Passports Lead Adoption

Automotive applications dominate as OEMs integrate digital passports to comply with EU regulations and build consumer trust. EV battery passports track sourcing, lifecycle emissions, and recycling outcomes, making them indispensable for next-gen mobility.

Industrial & Stationary Storage Expanding

Beyond vehicles, stationary energy storage systems in renewable grids and industrial backup solutions are integrating passport systems for compliance and lifecycle monitoring.

Regional Outlook

• Europe: Leads adoption, driven by strict EU regulations on EV batteries and digital traceability mandates.
• North America: Gains momentum with U.S. and Canadian initiatives to standardize EV and renewable battery lifecycle management.
• Asia-Pacific: Rapid EV production in China, Japan, and South Korea accelerates demand for transparent supply chains and recycling validation.
• Latin America & MEA: Emerging adoption tied to renewable energy projects and international compliance standards.

Market Dynamics

Key Drivers

• Regulatory mandates on sustainability and transparency
• Rising EV adoption and renewable energy integration
• Blockchain and IoT innovations in supply chain management
• Growing demand for closed-loop battery recycling

Restraints

• High integration and implementation costs for small-scale producers
• Complex data-sharing frameworks across global supply chains

Competitive Landscape

The global battery passport market is fragmented yet rapidly consolidating, with blockchain pioneers, IoT developers, and compliance solution providers shaping the ecosystem.

• Global Leaders: Circularise, Circulor, and Minespider set the pace with blockchain-enabled traceability.
• IoT & Data Innovators: OPTEL GROUP, IOTA, and Kezzler bring advanced industrial IoT and data integrity systems.
• Compliance Specialists: RCS Global focuses on regulatory readiness and responsible sourcing.

Recent Developments

• October 2024: ChargeZone launched its Battery Passport System, a digital platform built on Industrial IoT 5.0. It enhances lifecycle transparency, supports recycling, and underpins a Battery-as-a-Service model for commercial EVs in India, aligning with circular economy goals.
• June 2024: Volvo introduced the world’s first EV battery passport for its EX90 SUV, tracking material sourcing, carbon footprint, and recycling data. This move positions Volvo ahead of EU regulatory requirements and sets a benchmark for the industry.

Future Outlook

The battery passport market is set for exponential growth, driven by regulatory mandates, digital innovations, and sustainability imperatives. Companies that embrace blockchain, IoT, and AI-driven platforms will capture the strongest opportunities as digital passports become mandatory for global EV and renewable energy supply chains.

By bridging sustainability, compliance, and consumer trust, battery passports are poised to become a cornerstone of the green energy transition, solidifying their role in shaping the future of mobility and energy storage.

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