The electric vehicle battery Market was worth US$ 14.5 Billion in 2019 and is expected to expand at a CAGR of 17.1% through 2030.
Increasing emphasis of leading automakers including Ford Motors, General Motors, and Bayerische Motoren Werke AG to roll out electric vehicles is anticipated to fuel the market growth during the forecast period. Subsequent increase in sales of electric vehicles and continued rollout of EVSE (Electric Vehicle Supply Equipment) is likely to positively influence the market growth.
Several policies are implemented such as public private partnerships and direct investments in order to support maximum number of installations of charging stations specially in urban areas. To ensure long-distance commuting capability for electric vehicles multiple charging stations are crucial. However, an integrated electrification system which will be for all kind of electric vehicles including electric cars, freight delivery vehicles, two wheelers, and public transports is yet to be implemented on a large scale. In 2018, a significant number of electric vehicle registrations have been observed in emerging economies including Mexico, South Africa, India, China, among others.
Additionally, the Indian government has implemented several policies to promote manufacturing of electric vehicles. This in turn, is expected to propel the market growth during the forecast period.
Among all the geographies, Asia Pacific is anticipated to occupy major share in global electric vehicle battery market in 2019. This is mainly due to rising demand for electric vehicles across Asian countries including China, South Korea, and India. Moreover, North America and Europe are projected to witness significant growth in coming years.
The growth of these regions is attributed to presence of leading manufactures in the U.S. and Germany. Germany and U.S have dominated the market in terms of battery production and sales. Additionally, companies are focusing on developing innovative and cost-effective solutions owing to highly competitive market. This will eventually help them in gaining competitive edge and strengthening their foothold in global market.
Electric Vehicle Battery Market Value Share Analysis, by Geography (2022)
The report titled “Electric Vehicle Battery Market- Global Market Share, Trends, Analysis and Forecasts, 2022-2032” wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global Electric Vehicle Battery Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global electric vehicle battery market is segmented on the basis of battery type, vehicle type, propulsion, and geography. On the basis of battery type, the global market can be segregated into Sodium-Ion, Lithium-Ion, Nickel-Metal Hydride, Lead-Acid, and Others. On the basis of vehicle type, the global market can be bifurcated into commercial vehicle and passenger vehicle. By propulsion type, the global market is divided into Plug-In Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV). Based on geography, the global electric vehicle battery market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Belgium, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, the UAE, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on electric vehicle battery. Further, market share of prominent companies in the global electric vehicle battery market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the electric vehicle battery device companies. The global electric vehicle battery market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the electric vehicle battery business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global electric vehicle battery market.
Some of the prominent player involved in global electric vehicle battery market include ATLASBX Co., B.B. Battery Co., Ltd., C&D Technologies, Inc., Coslight Technology International Group Co., Ltd., Crown Battery Manufacturing, CSB Battery Company Ltd., Duracell, East Penn Manufacturing Co., EnerSys, Inc., GS Yuasa Corp, Hitachi, Huanyu New Energy Technology, Narada Power Source Co., Ltd., NEC Corporation, NorthStar, Panasonic Corporation, Sony, TCL Corporation, and Zibo Torch Energy Co., Ltd.
Segmentation:
By Battery Type:
By Vehicle Type:
By Propulsion:
By Geography :
The global market for electric vehicle battery will most likely expand at over 17.1% CAGR through 2030.
The electric vehicle battery market was valued at US$ 14.5 billion in 2019.
Integrated electrification system which will be for all kind of electric vehicles including electric cars, freight delivery vehicles, two wheelers, and public transports is yet to be implemented on a large scale. This in turn, is expected to propel the market growth during the forecast period.
Among all the geographies, Asia Pacific is anticipated to occupy major share in global electric vehicle battery market. This is mainly due to rising demand for electric vehicles across Asian countries including China, South Korea, and India.
Based on type, the electric vehicle battery market is segmented into Plug-In Hybrid Electric Vehicle (PHEV) and Battery Electric Vehicle (BEV).
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