Market Overview:
The global electric vehicle battery 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 across the globe. Additionally, factors such as rising concerns over environmental pollution and depletion of fossil fuels are also propelling the growth of this market. The global electric vehicle battery market is segmented on the basis of type, application and region. On the basis of type, lead-acid batteries accounted for a major share in 2017 and are expected to continue its dominance during the forecast period as well. However, lithium batteries are anticipated to grow at a higher CAGR owing to their high energy density and longer life cycle as compared with lead-acid batteries. On the basis of application, BEVs accounted for a majority share in 2017 and this trend is projected to continue during 2018-2030 owing to government initiatives towards promoting EVs globally coupled with rising consumer awareness about environment friendly options available in terms of transportation modes.
Product Definition:
Electric Vehicle Battery is a rechargeable battery that supplies electric power to an electric vehicle. Electric Vehicle Battery is important because it powers the electric vehicle and allows it to run.
Lead-acid Batteries:
Lead-acid batteries are the most commonly used type of battery in the world. They are economical, have a high energy density and can be recycled. The key properties that make them suitable for use in electric vehicles include low self-discharge rate, low maintenance cost and high charging/discharging efficiency. Lead-acid batteries also offer safety advantages as they pose no risk of explosion or fire like other rechargeable batteries such as lithium ion or nickel metal hydride do.
Lithium Battery:
Lithium-ion (Li-ion) batteries are commonly used in electric vehicles (EV), portable electronic devices such as laptops and mobile phones, power tools, digital cameras, and other consumer products. They are also used in the energy storage systems of hybrid electric vehicles and plug-in hybrid electric vehicles (PHEV).
Lithium battery cells inside an EV battery pack. Image source: blogs.
Application Insights:
The battery used in electric vehicles can be categorized into two applications, namely battery electric vehicle (BEV) and hybrid electric vehicle (HEV). The HEV segment dominated the global market in terms of revenue share in 2017. The major application of HEVs is to provide short range of travel for trucks, tractors, buses and other commercial vehicles. Growing demand for such batteries from the commercial vehicle sector is expected to drive the global market over the forecast period.
The growing adoption of e-bikes across various regions coupled with rising awareness regarding environment protection has increased concerns regarding carbon emission reduction among consumers across countries like China and India. This trend is expected to have a positive impact on overall industry growth over the forecast period as these regions are projected to account for highest penetration rates of e-vehicles by 2030 which will further increase consumer preference towards fuel efficient products eventually driving demand for advanced batteries from 2018 to 2030.
Regional Analysis:
The Asia Pacific regional market accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The region will expand further on account of increasing sales of EVs, particularly in China and Japan. In addition, favorable government regulations aimed at promoting sales of electric vehicles are projected to drive demand for battery systems across this region.
China is anticipated to dominate the Asia Pacific regional market owing to increasing production capacity as well as growing consumer preference towards electric vehicles. However, strict policies regarding sale of batteries by manufacturers such as Panasonic Corporation; LG Chem; Samsung SDI Co., Ltd.; and others may hinder growth over the next eight years.
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 can be 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 proliferation of electric vehicles in the country.
- Reduction in battery costs: The cost of batteries has been declining rapidly over the past few years due to advancements in technology and increased production volumes. For instance, lithium-ion battery costs declined by 35% between 2010 and 2015, according to Bloomberg New Energy Finance (BNEF). This decline is expected to continue over the next few years as well, which will further boost sales of electric vehicles equipped with these batteries.
Scope Of The Report
Report Attributes
Report Details
Report Title
Electric Vehicle Battery Market Research Report
By Type
Lead-acid Batteries, Lithium Battery, Others
By Application
BEV, HEV
By Companies
Panasonic, LG Chem, BYD, Samsung SDI, Johnson Controls, GS Yuasa, Hitachi Group, Automotive Energy Supply, Blue Energy, Lithium Energy Japan, Panasonic, Wanxiang, Beijing Pride 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
134
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global Electric Vehicle Battery Market Report Segments:
The global Electric Vehicle Battery market is segmented on the basis of:
Types
Lead-acid Batteries, Lithium Battery, Others
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
BEV, HEV
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:
- Panasonic
- LG Chem
- BYD
- Samsung SDI
- Johnson Controls
- GS Yuasa
- Hitachi Group
- Automotive Energy Supply
- Blue Energy
- Lithium Energy Japan
- Panasonic
- Wanxiang
- Beijing Pride Power
Highlights of The Electric Vehicle Battery 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:
- Lead-acid Batteries
- Lithium Battery
- Others
- By Application:
- BEV
- HEV
- 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 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 is a type of rechargeable battery used in electric vehicles. Electric vehicle batteries are typically larger and more powerful than the batteries used in traditional gasoline-powered cars.
Some of the major companies in the electric vehicle battery market are Panasonic, LG Chem, BYD, Samsung SDI, Johnson Controls, GS Yuasa, Hitachi Group, Automotive Energy Supply, Blue Energy, Lithium Energy Japan, Panasonic, Wanxiang, Beijing Pride Power.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Electric Vehicle Battery Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Electric Vehicle Battery Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Electric Vehicle Battery Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Electric Vehicle Battery Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Electric Vehicle Battery Market Size & Forecast, 2018-2028
4.5.1 Electric Vehicle Battery Market Size and Y-o-Y Growth
4.5.2 Electric Vehicle Battery Market Absolute $ Opportunity
Chapter 5 Global Electric Vehicle Battery Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Electric Vehicle Battery Market Size Forecast by Type
5.2.1 Lead-acid Batteries
5.2.2 Lithium Battery
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Electric Vehicle Battery Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Electric Vehicle Battery Market Size Forecast by Applications
6.2.1 BEV
6.2.2 HEV
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Electric Vehicle Battery Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Electric Vehicle Battery Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Electric Vehicle Battery Analysis and Forecast
9.1 Introduction
9.2 North America Electric Vehicle Battery Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Electric Vehicle Battery Market Size Forecast by Type
9.6.1 Lead-acid Batteries
9.6.2 Lithium Battery
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Electric Vehicle Battery Market Size Forecast by Applications
9.10.1 BEV
9.10.2 HEV
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Electric Vehicle Battery Analysis and Forecast
10.1 Introduction
10.2 Europe Electric Vehicle Battery Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Electric Vehicle Battery Market Size Forecast by Type
10.6.1 Lead-acid Batteries
10.6.2 Lithium Battery
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Electric Vehicle Battery Market Size Forecast by Applications
10.10.1 BEV
10.10.2 HEV
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Electric Vehicle Battery Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Electric Vehicle Battery Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Electric Vehicle Battery Market Size Forecast by Type
11.6.1 Lead-acid Batteries
11.6.2 Lithium Battery
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Electric Vehicle Battery Market Size Forecast by Applications
11.10.1 BEV
11.10.2 HEV
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Electric Vehicle Battery Analysis and Forecast
12.1 Introduction
12.2 Latin America Electric Vehicle Battery Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Electric Vehicle Battery Market Size Forecast by Type
12.6.1 Lead-acid Batteries
12.6.2 Lithium Battery
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Electric Vehicle Battery Market Size Forecast by Applications
12.10.1 BEV
12.10.2 HEV
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Electric Vehicle Battery Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Electric Vehicle Battery Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Electric Vehicle Battery Market Size Forecast by Type
13.6.1 Lead-acid Batteries
13.6.2 Lithium Battery
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Electric Vehicle Battery Market Size Forecast by Applications
13.10.1 BEV
13.10.2 HEV
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Electric Vehicle Battery Market: Competitive Dashboard
14.2 Global Electric Vehicle Battery Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Panasonic
14.3.2 LG Chem
14.3.3 BYD
14.3.4 Samsung SDI
14.3.5 Johnson Controls
14.3.6 GS Yuasa
14.3.7 Hitachi Group
14.3.8 Automotive Energy Supply
14.3.9 Blue Energy
14.3.10 Lithium Energy Japan
14.3.11 Panasonic
14.3.12 Wanxiang
14.3.13 Beijing Pride Power
