Market Overview:
The global electric vehicle battery pack market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for electric vehicles, especially in developed countries such as the U.S., Japan, and Germany. Electric vehicles are powered by rechargeable batteries that store electrical energy which is used to power the electric motor. These batteries are classified into three types: lithium ion battery, nickel-metal-hydride (Ni-MH) battery, and other battery type. The other battery type includes lead acid and zinc air batteries among others.
Product Definition:
Electric Vehicle Battery Pack is a collection of batteries that supply electric power to an electric vehicle. The importance of Electric Vehicle Battery Pack is that it provides the power necessary to operate the electric vehicle.
Lithium Ion Battery:
Lithium-ion (Li-ion) batteries are commonly used in portable consumer electronics, electric vehicles and power tools. They are rechargeable batteries that provide high energy density and have a long service life. These batteries can be categorized on the basis of their sizes as small lithium-ion battery (SLI), large lithium-ion battery (LLB), and hybrid lithium ion battery (HLLB).
NI-MH Battery:
The Nickel-Metal hydride (NiMH) battery is a rechargeable battery that uses the combination of hydrogen and metal ions to store energy. The positive and negative electrode are made from different materials, which enables the current flow between them. NiMH batteries have higher charging efficiency as compared to conventional lithium-ion batteries; however, they have lower discharge efficiency when working under low power conditions as compared to lithium-ion batteries.
Application Insights:
The plug-in hybrid electric vehicles (PHEVs) segment dominated the global electric vehicle battery pack market in terms of revenue in 2017. The segment is expected to witness significant growth over the forecast period owing to various government initiatives such as Low Carbon Vehicle Program in Europe and China, which are aimed at promoting the adoption of PHEVs.
The battery packs for BEVs are smaller than those for PHEVs as they do not require additional power during acceleration. This has led to a reduction in size and weight of these batteries, resulting in improved handling and driving experience for BEV drivers across the globe. Additionally, increasing penetration rates of solar photovoltaic systems coupled with rising demand from countries such as India is anticipated to augment product demand globally over the next few years.
Regional Analysis:
The Asia Pacific regional market accounted for the largest share in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing government initiatives, such as “Make in India†campaign by the Indian government, which offers various tax benefits on electric vehicles. In addition, China has set up a target of selling five million EVs by 2020. Such government initiatives are anticipated to boost demand across Asia Pacific region over the forecast period.
Europe is projected to grow at a significant rate from 2018 to 2030 owing to rising investments across countries like Norway and Sweden that have favorable climatic conditions for EV production and sales along with high purchasing power of consumers in these countries will drive demand further.
Growth Factors:
- Increasing demand for electric vehicles: The global electric vehicle market is expected to grow at a CAGR of more than 28% from 2016 to 2020, according to MarketsandMarkets. This growth is primarily attributed to the increasing demand for environment-friendly and low-emission vehicles.
- Government initiatives and subsidies: Governments across the globe are promoting the adoption of electric vehicles through various initiatives and subsidies. For instance, in March 2016, the UK government announced a subsidy worth £5,000 (US,290) for buyers of electric cars. This subsidy is expected to help in the faster adoption of electric vehicles in the country.
- Reduction in battery costs: The cost of batteries accounts for a significant proportion of the total cost of an electric vehicle. However, over time there has been a significant reduction in battery costs due to advancements in technology and economies of scale achieved by manufacturers globally.. For instance, Tesla’s Model S battery pack costs around US0 per kWh as compared with US,000 per kWh about five years ago.,This reduction is likely to continue over time which will result In lower prices for Electric Vehicles leading too higher uptake rates
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Vehicle Battery Pack Market Research Report
By Type
Lithium Ion Battery, NI-MH Battery, Other Battery
By Application
PHEVs, BEVs
By Companies
BYD, Panasonic, CATL, OptimumNano, LG Chem, GuoXuan, Lishen, PEVE, AESC, Samsung, Lithium Energy Japan, Beijing Pride Power, BAK Battery, WanXiang, Hitachi, ACCUmotive, Boston Power
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Electric Vehicle Battery Pack Market Report Segments:
The global Electric Vehicle Battery Pack market is segmented on the basis of:
Types
Lithium Ion Battery, NI-MH Battery, Other Battery
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
PHEVs, BEVs
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BYD
- Panasonic
- CATL
- OptimumNano
- LG Chem
- GuoXuan
- Lishen
- PEVE
- AESC
- Samsung
- Lithium Energy Japan
- Beijing Pride Power
- BAK Battery
- WanXiang
- Hitachi
- ACCUmotive
- Boston Power
Highlights of The Electric Vehicle Battery Pack Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Lithium Ion Battery
- NI-MH Battery
- Other Battery
- By Application:
- PHEVs
- BEVs
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Electric Vehicle Battery Pack Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An electric vehicle battery pack is a collection of cells that store energy to power an electric vehicle. The cells are usually arranged in a series or parallel configuration and are typically made from lithium ion, nickel-cadmium, or lead acid batteries.
Some of the major players in the electric vehicle battery pack market are BYD, Panasonic, CATL, OptimumNano, LG Chem, GuoXuan, Lishen, PEVE, AESC, Samsung, Lithium Energy Japan, Beijing Pride Power, BAK Battery, WanXiang, Hitachi, ACCUmotive, Boston Power.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Electric Vehicle Battery Pack Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Electric Vehicle Battery Pack Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Electric Vehicle Battery Pack Market - Supply Chain
4.5. Global Electric Vehicle Battery Pack Market Forecast
4.5.1. Electric Vehicle Battery Pack Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Electric Vehicle Battery Pack Market Size (000 Units) and Y-o-Y Growth
4.5.3. Electric Vehicle Battery Pack Market Absolute $ Opportunity
5. Global Electric Vehicle Battery Pack Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Electric Vehicle Battery Pack Market Size and Volume Forecast by Type
5.3.1. Lithium Ion Battery
5.3.2. NI-MH Battery
5.3.3. Other Battery
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Electric Vehicle Battery Pack Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Electric Vehicle Battery Pack Market Size and Volume Forecast by Application
6.3.1. PHEVs
6.3.2. BEVs
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Electric Vehicle Battery Pack Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Electric Vehicle Battery Pack Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Electric Vehicle Battery Pack Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Electric Vehicle Battery Pack Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Electric Vehicle Battery Pack Demand Share Forecast, 2019-2026
9. North America Electric Vehicle Battery Pack Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Electric Vehicle Battery Pack Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Electric Vehicle Battery Pack Market Size and Volume Forecast by Application
9.4.1. PHEVs
9.4.2. BEVs
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Electric Vehicle Battery Pack Market Size and Volume Forecast by Type
9.7.1. Lithium Ion Battery
9.7.2. NI-MH Battery
9.7.3. Other Battery
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Electric Vehicle Battery Pack Demand Share Forecast, 2019-2026
10. Latin America Electric Vehicle Battery Pack Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Electric Vehicle Battery Pack Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Electric Vehicle Battery Pack Market Size and Volume Forecast by Application
10.4.1. PHEVs
10.4.2. BEVs
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Electric Vehicle Battery Pack Market Size and Volume Forecast by Type
10.7.1. Lithium Ion Battery
10.7.2. NI-MH Battery
10.7.3. Other Battery
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Electric Vehicle Battery Pack Demand Share Forecast, 2019-2026
11. Europe Electric Vehicle Battery Pack Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Electric Vehicle Battery Pack Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Electric Vehicle Battery Pack Market Size and Volume Forecast by Application
11.4.1. PHEVs
11.4.2. BEVs
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Electric Vehicle Battery Pack Market Size and Volume Forecast by Type
11.7.1. Lithium Ion Battery
11.7.2. NI-MH Battery
11.7.3. Other Battery
11.8. Basis Poin Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Electric Vehicle Battery Pack Demand Share, 2019-2026
12. Asia Pacific Electric Vehicle Battery Pack Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Electric Vehicle Battery Pack Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Electric Vehicle Battery Pack Market Size and Volume Forecast by Application
12.4.1. PHEVs
12.4.2. BEVs
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Electric Vehicle Battery Pack Market Size and Volume Forecast by Type
12.7.1. Lithium Ion Battery
12.7.2. NI-MH Battery
12.7.3. Other Battery
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Electric Vehicle Battery Pack Demand Share, 2019-2026
13. Middle East & Africa Electric Vehicle Battery Pack Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Electric Vehicle Battery Pack Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Electric Vehicle Battery Pack Market Size and Volume Forecast by Application
13.4.1. PHEVs
13.4.2. BEVs
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Electric Vehicle Battery Pack Market Size and Volume Forecast by Type
13.7.1. Lithium Ion Battery
13.7.2. NI-MH Battery
13.7.3. Other Battery
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Electric Vehicle Battery Pack Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Electric Vehicle Battery Pack Market: Market Share Analysis
14.2. Electric Vehicle Battery Pack Distributors and Customers
14.3. Electric Vehicle Battery Pack Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. BYD
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Panasonic
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. CATL
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. OptimumNano
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. LG Chem
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. GuoXuan
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Lishen
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. PEVE
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. AESC
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Samsung
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Lithium Energy Japan
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Beijing Pride Power
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. BAK Battery
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. WanXiang
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Hitachi
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. ACCUmotive
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Boston Power
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
