Battery Passport Market

The battery passport market is projected to reach USD 2.35 billion by 2035, from USD 0.15 billion in 2025, with a CAGR of 32.1%. This growth is supported by regulatory enforcement of lifecycle traceability, OEM demand for verified materials data, and alignment with circular economy standards across mobility, storage, and industrial battery segments. Compliance-driven digitalization, combined with the shift toward audit-ready data capture throughout manufacturing and end-of-life stages, is further shaping investment priorities for technology vendors and ecosystem participants.

The battery passport market is dominated by established players, including Minespider GmbH (Germany), AVL (Austria), Siemens (Germany), Circulor (UK), and Optel Group (Canada), among others. These companies employ product launches, deals, and other strategies to gain traction in the global battery passport market. For instance, in April 2024, Minespider upgraded its Open Battery Passport stack to include automated conformance scoring for recyclers, improving validation workflows.

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Minespider is a digital-traceability company specializing in blockchain-based data infrastructure for minerals, metals, and batteries. The company positions itself strategically by using a blockchain foundation to create verifiable digital identities for minerals and batteries, enabling high-assurance traceability across global supply chains. Its phased moves, including the Open Battery Passport launch in May 2023, multi-stage integration trials with Microvast through 2024, regional product development with Thingspire in November 2024, and the January 2025 collaboration with Tata Elxsi, were targeted to build regulatory credibility and secure early adoption in key manufacturing and recycling hubs. These actions solidify Minespider’s role as a compliance enabler for the EU Battery Regulation, while expanding its footprint in the Asia-Pacific region. The company is now prioritizing the scalable deployment of its on-premise passport model, strengthening open-access data infrastructure, and embedding analytics to support predictive maintenance, lifecycle optimization, and circular economy outcomes at an industry scale.

Siemens is a global industrial technology company that delivers automation, digitalization, and manufacturing software for the energy, automotive, and process-driven sectors. The company is pursuing a strategically layered approach by embedding passport-ready traceability directly into its industrial digitalization suite, linking digital twins, MES environments, and automated quality systems. This creates a unified dataset that captures production parameters, carbon metrics, and material flows in a format suitable for regulatory audits and compliance. Siemens’ recent collaborations with OEMs and gigafactory operators sharpen its alignment with EU Battery Regulation pathways. The company is expanding its interoperability framework to connect factory-level execution systems with cloud analytics, strengthening real-time traceability across distributed plants. Future efforts focus on scaling these capabilities into energy-storage manufacturing clusters and enhancing data continuity to support recycling, reuse, and carbon-intensity disclosures.

AVL is an engineering and testing company specializing in powertrain development, battery systems, and advanced validation technologies for the automotive and energy sectors. The company is implementing a data-centric model by integrating passport compatibility into its global testing, validation, and lifecycle assessment infrastructure. Since 2023, it has been converting test-bench outputs, durability simulations, and emission models into structured datasets that align with regulatory reporting formats through trials with OEMs and cell manufacturers. This positions AVL as a key provider of high-certainty technical data required for compliant passport submissions, particularly for performance, durability, and carbon footprint indicators. The company is advancing automated data pipelines across R&D and end-of-life workflows, ensuring continuous and auditable information flow. Looking ahead, AVL plans to deepen its integration of circularity metrics, expand cloud-linked validation environments, and deploy standardized passport modules across its global development centers to support industry-wide compliance and lifecycle efficiency.

Related Reports:

Battery Passport Market by Industry (Automotive, Energy & Utility, Off-Highway/Industrial), Battery Type (Lithium-ion, Lead-acid, Sodium-ion), Technology (Blockchain, Cloud, IoT & AI-integrated), End User, Business Model, Region - Global Forecast to 2035

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