Global Electric Vehicle Battery Market Size, Share, Trends, Industry Growth by Battery Type (Lithium-Ion, Lead-Acid, Nickel-Metal Hydride, Sodium-Ion, Others), by Vehicle Type (Passenger Vehicles, Commercial Vehicles), by Propulsion, by Region, and Forecast to 2028

Price: 3600/- USD | Published Date: May 15, 2022 |

The global electric vehicle battery market size is expected to register a significant CAGR of around 30% during the forecast period 2022 to 2028. The increasing adoption of electric vehicles and the growing sale in developing economies are some major factors to drive the market growth. Furthermore, the increasing investment and growing focus of automakers to increase their EV production in next upcoming years is expected to boost the market growth over the forecast period. For instance, in March 2022, Hyundai plans to invest USD 16 billion to target a 7% electric vehicle market share by 2030. Moreover, the stringent government regulation regarding CO2 emissions and the government’s supportive policies for electric vehicles in various countries are expected to fuel the market growth.

Market Insights:

The global electric vehicle battery market is bifurcated into battery type, vehicle type, propulsion, and geography. On the basis of battery type, the market is further segmented into lithium-ion, lead-acid, and others. The lithium-ion battery segment dominated the global market in 2021 and expected to grow at the same trend over the forecast period. The higher capacity and lighter weight are some of the prominent factors to drive the segment growth. Furthermore, the widespread use of these batteries in electric and hybrid vehicles are expected to drive the segment growth over the forecast period.

On the basis of vehicle type, the market is bifurcated into passenger vehicles and commercial vehicles. The passenger vehicles segment dominated the global electric vehicle battery market in 2021 and expected to hold a significant market share of around two-third market share by the end of the analysis period. The growing sale of passenger cars in developing economies is a major factor to drive the segment growth. On the flip side, the commercial vehicles segment is accounted to register the fastest growth rate over the forecast period. The increasing adoption of electric commercial vehicles around the world is expected to drive the segment growth over the forecast period.

Electric Vehicle Battery Market Share

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The electric vehicle battery comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The electric vehicle battery market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

  • 2019-20 – Historical Year
  • 2021 – Base Year
  • 2022-2028 – Forecast Period

Global Electric Vehicle Battery Market Segmentation:

Electric Vehicle Battery Market Segmentation by Battery Type:

  • Lithium-Ion
  • Lead-Acid
  • Nickel-Metal Hydride
  • Sodium-Ion
  • Others

Electric Vehicle Battery Market Segmentation by Vehicle Type:

  • Passenger Vehicles
  • Commercial Vehicles

Electric Vehicle Battery Market Segmentation by Propulsion:

  • Battery Electric Vehicle (BEV)
  • Plug-In Hybrid Electric Vehicle (PHEV)

Electric Vehicle Battery Market Segmentation by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Electric Vehicle Battery Market: Geographic Coverage

Geographically, the Asia Pacific dominated the global electric vehicle battery market in 2021 and expected to hold the largest revenue share of over one-third market share by the end of the analysis period. China is the largest automaker in the world and accounted for the largest EV battery market share of over one-fourth of the market in 2021. Furthermore, the rising shift toward electric vehicles and the increasing purchasing power of consumers in developing economies are further anticipated to boost the market growth in the Asia Pacific. On the other hand, Europe is estimated to hold a significant share of the global market due to the stringent government regulation regarding emission control.

Electric Vehicle Battery Market: Competitive Assessment

Some of the major market players operating in the global electric vehicle battery market are Panasonic Corporation, LG Energy Solution Ltd., Samsung SDI Co. Ltd., Contemporary Amperex Technology Co. Ltd., and BYD Co. Ltd. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

List of Key Companies:

  • Panasonic Corporation
  • LG Energy Solution Ltd.
  • Samsung SDI Co. Ltd.
  • Contemporary Amperex Technology Co. Ltd.
  • BYD Co. Ltd.
  • Sony
  • ATLASBX Co.
  • Hitachi
  • NEC Corporation
  • TCL Corporation

Key Questions Answered by Electric Vehicle Battery Market Report

  • Global electric vehicle battery market forecasts from 2022-2028
  • Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
  • Electric vehicle battery submarket forecasts from 2022-2028 covering the market by battery type, by vehicle type, by propulsion, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis about the market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level electric vehicle battery markets from 2022-2028
  • Competitive Landscape and market positioning of top 10 players operating in the market
Table of Content:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Electric Vehicle Battery Market Portraiture
2.2. Global Electric Vehicle Battery Market, by Battery Type, 2021 (USD Mn)
2.3. Global Electric Vehicle Battery Market, by Vehicle Type, 2021 (USD Mn)
2.4. Global Electric Vehicle Battery Market, by Propulsion, 2021 (USD Mn)
2.5. Global Electric Vehicle Battery Market, by Geography, 2021 (USD Mn)

 

3. Global Electric Vehicle Battery Market Analysis


3.1. Electric Vehicle Battery Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis

 

4. Global Electric Vehicle Battery Market By Battery Type, 2019 – 2028 (USD Mn)


4.1. Overview
4.2. Lithium-Ion
4.3. Lead-Acid
4.4. Nickel-Metal Hydride
4.5. Sodium-Ion
4.6. Others

 

5. Global Electric Vehicle Battery Market By Vehicle Type, 2019 – 2028 (USD Mn)


5.1. Overview
5.2. Passenger Vehicles
5.3. Commercial Vehicles

 

6. Global Electric Vehicle Battery Market By Propulsion, 2019 – 2028 (USD Mn)


6.1. Overview
6.2. Battery Electric Vehicle (BEV)
6.3. Plug-In Hybrid Electric Vehicle (PHEV)

 

7. North America Electric Vehicle Battery Market Analysis and Forecast, 2019 – 2028 (USD Mn)


7.1. Overview
7.2. North America Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
7.3. North America Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
7.4. North America Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
7.5. North America Electric Vehicle Battery Market by Country, (2019-2028 USD Mn)
7.5.1. U.S.
7.5.1.1. U.S. Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
7.5.1.2. U.S. Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
7.5.1.3. U.S. Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
7.5.2. Canada
7.5.2.1. Canada Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
7.5.2.2. Canada Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
7.5.2.3. Canada Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)

 

8. Europe Electric Vehicle Battery Market Analysis and Forecast, 2019 – 2028 (USD Mn)


8.1. Overview
8.2. Europe Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
8.3. Europe Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
8.4. Europe Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
8.5. Europe Electric Vehicle Battery Market by Country, (2019-2028 USD Mn)
8.5.1. Germany
8.5.1.1. Germany Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
8.5.1.2. Germany Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
8.5.1.3. Germany Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
8.5.2. U.K.
8.5.2.1. U.K. Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
8.5.2.2. U.K. Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
8.5.2.3. U.K. Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
8.5.3. France
8.5.3.1. France Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
8.5.3.2. France Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
8.5.3.3. France Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
8.5.4. Italy
8.5.4.1. Italy Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
8.5.4.2. Italy Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
8.5.4.3. Italy Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
8.5.5. Rest of Europe
8.5.5.1. Rest of Europe Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
8.5.5.2. Rest of Europe Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
8.5.5.3. Rest of Europe Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)

 

9. Asia Pacific Electric Vehicle Battery Market Analysis and Forecast, 2019 – 2028 (USD Mn)


9.1. Overview
9.2. Asia Pacific Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
9.3. Asia Pacific Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
9.4. Asia Pacific Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
9.5. Asia Pacific Electric Vehicle Battery Market by Country, (2019-2028 USD Mn)
9.5.1. China
9.5.1.1. China Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
9.5.1.2. China Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
9.5.1.3. China Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
9.5.2. Japan
9.5.2.1. Japan Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
9.5.2.2. Japan Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
9.5.2.3. Japan Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
9.5.3. India
9.5.3.1. India Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
9.5.3.2. India Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
9.5.3.3. India Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
9.5.4. Rest of Asia Pacific
9.5.4.1. Rest of Asia Pacific Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
9.5.4.2. Rest of Asia Pacific Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
9.5.4.3. Rest of Asia Pacific Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)

 

10. Latin America (LATAM) Electric Vehicle Battery Market Analysis and Forecast, 2019 – 2028 (USD Mn)


10.1. Overview
10.2. Latin America Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
10.3. Latin America Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
10.4. Latin America Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
10.5. Latin America Electric Vehicle Battery Market by Country, (2019-2028 USD Mn)
10.5.1. Brazil
10.5.1.1. Brazil Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
10.5.1.2. Brazil Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
10.5.1.3. Brazil Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
10.5.2. Mexico
10.5.2.1. Mexico Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
10.5.2.2. Mexico Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
10.5.2.3. Mexico Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
10.5.3. Rest of Latin America
10.5.3.1. Rest of Latin America Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
10.5.3.2. Rest of Latin America Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
10.5.3.3. Rest of Latin America Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)

 

11. Middle East and Africa Electric Vehicle Battery Market Analysis and Forecast, 2019 – 2028 (USD Mn)


11.1. Overview
11.2. MEA Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
11.3. MEA Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
11.4. MEA Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
11.5. Middle East and Africa Electric Vehicle Battery Market, by Country, (2019-2028 USD Mn)
11.5.1. GCC
11.5.1.1. GCC Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
11.5.1.2. GCC Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
11.5.1.3. GCC Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
11.5.2. South Africa
11.5.2.1. South Africa Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
11.5.2.2. South Africa Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
11.5.2.3. South Africa Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)
11.5.3. Rest of MEA
11.5.3.1. Rest of MEA Electric Vehicle Battery Market by Battery Type, (2019-2028 USD Mn)
11.5.3.2. Rest of MEA Electric Vehicle Battery Market by Vehicle Type, (2019-2028 USD Mn)
11.5.3.3. Rest of MEA Electric Vehicle Battery Market by Propulsion, (2019-2028 USD Mn)

 

12. Company Profiles


12.1. Panasonic Corporation
12.1.1. Business Description
12.1.2. Financial Health and Budget Allocation
12.1.3. Product Positions/Portfolio
12.1.4. Recent Development
12.1.5. SWOT Analysis
12.2. LG Energy Solution Ltd.
12.2.1. Business Description
12.2.2. Financial Health and Budget Allocation
12.2.3. Product Positions/Portfolio
12.2.4. Recent Development
12.2.5. SWOT Analysis
12.3. Samsung SDI Co. Ltd.
12.3.1. Business Description
12.3.2. Financial Health and Budget Allocation
12.3.3. Product Positions/Portfolio
12.3.4. Recent Development
12.3.5. SWOT Analysis
12.4. Contemporary Amperex Technology Co. Ltd.
12.4.1. Business Description
12.4.2. Financial Health and Budget Allocation
12.4.3. Product Positions/Portfolio
12.4.4. Recent Development
12.4.5. SWOT Analysis
12.5. BYD Co. Ltd.
12.5.1. Business Description
12.5.2. Financial Health and Budget Allocation
12.5.3. Product Positions/Portfolio
12.5.4. Recent Development
12.5.5. SWOT Analysis
12.6. Sony
12.6.1. Business Description
12.6.2. Financial Health and Budget Allocation
12.6.3. Product Positions/Portfolio
12.6.4. Recent Development
12.6.5. SWOT Analysis
12.7. ATLASBX Co.
12.7.1. Business Description
12.7.2. Financial Health and Budget Allocation
12.7.3. Product Positions/Portfolio
12.7.4. Recent Development
12.7.5. SWOT Analysis
12.8. Hitachi
12.8.1. Business Description
12.8.2. Financial Health and Budget Allocation
12.8.3. Product Positions/Portfolio
12.8.4. Recent Development
12.8.5. SWOT Analysis
12.9. NEC Corporation
12.9.1. Business Description
12.9.2. Financial Health and Budget Allocation
12.9.3. Product Positions/Portfolio
12.9.4. Recent Development
12.9.5. SWOT Analysis
12.10. TCL Corporation
12.10.1. Business Description
12.10.2. Financial Health and Budget Allocation
12.10.3. Product Positions/Portfolio
12.10.4. Recent Development
12.10.5. SWOT Analysis
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