This report describes the global market size of Electric Vehicle (EV) Battery Market from 2018 to 2021 and its CAGR from 2018 to 2021, and also forecasts its market size to the end of 2030 and its expected to grow with a CAGR of 10.10% from 2023 to 2030.
An electric vehicle (EV) battery is a rechargeable energy storage device designed to power the electric propulsion system of an electric vehicle. It stores electrical energy in a chemical form and releases it to drive an electric motor, which, in turn, propels the vehicle. The development and efficiency of electric vehicle batteries play a crucial role in the performance, range, and overall viability of electric vehicles.
Due to the COVID-19 pandemic and Russia-Ukraine War Influence, the global market for Electric Vehicle (EV) Battery Market estimated at US $ million in the year 2022, is projected to reach a revised size of US$ million by 2030, growing at a CAGR of 10.10% during the forecast period 2023-2030. North American market for Electric Vehicle (EV) Battery Market is estimated to increase from $million in 2022 to reach $ million by 2030, at a CAGR of 10.10% during the forecast period of 2023 through 2030.
For geography segment, regional supply, demand, major players, price is presented from 2018 to 2030. This report cover following regions:
North America
Asia-Pacific
Europe
Middle East and Africa
South America
The key countries for each regions are also included such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.
For competitor segment, the report include global key players of Electric Vehicle (EV) Battery Market as well as some small players. The information for each competitor include:
Company Profile
Main Business Information
SWOT Analysis
Sales Volume, Revenue, Price and Gross Margin
Market Share
By Battery Type
Lithium-Ion Battery
Lead-Acid Battery
Others (Solid-state Battery, Nickel-Metal Hydride, Sodium-ion Battery)
In 2022, the lithium-ion battery segment dominated the market and generated over 67.1% of global revenue. Throughout the projection period, the segment is also expected to grow at the highest CAGR. Lithium-ion batteries are becoming widely used in electric vehicles due to their many advantages. They are significantly lighter than lead-acid batteries by up to 61% and have a higher energy density, which enables the creation of battery packs that are more compact and require less space. Manufacturers of electric vehicles prefer to use lithium-ion batteries because they are very efficient and can be fully charged in one to three hours. Consequently, the use of lithium-ion batteries in electric vehicles has increased dramatically.
By Propulsion Type
Battery Electric Vehicle (BEV)
Plug-In Hybrid Electric Vehicle (PHEV)
In 2022, the battery electric vehicle (BEV) segment held a dominant market share, accounting for over 70.1% of global revenue. Throughout the projection period, the segment is also expected to grow at the highest CAGR. BEVs are entirely electric cars without a gasoline engine that run on rechargeable battery packs. The rising interest in BEVs among consumers and the government's encouraging policies to achieve net-zero emissions in the near future are the main reasons behind the growing popularity of removable and rechargeable EV batteries. In order to achieve a zero-carbon footprint, it is crucial to reduce waste and extend the lifespan of batteries like these, which can be reused multiple times.
By Vehicle Type
Two-Wheeler
Passenger Cars
Buses
Commercial Light Duty Vehicles
Three-Wheeler
Four-Wheeler
Others (Trucks, Trailers)
In 2022, the passenger car segment held a market share of more than 41.1%. The segment is expanding due to the rising sales of electric passenger cars, which include sedans, hatchbacks, SUVs, and other models like XUVs, station wagons, and minivans. The IEA reports that sales of electric passenger cars will surpass 10 million in 2022, indicating an exponential growth in the market. It is anticipated that electric vehicle sales will continue to be strong until 2023. More than 2.3 million electric vehicles were sold in the first quarter of this year, a 26% increase from the same period in 2022.
By Company
Contemporary Amperex Technology Co., Ltd. (CATL)
LG Energy Solution
BYD Company Ltd.
Panasonic Corp.
Samsung SDI Co., Ltd.
SK Innovation Co., Ltd.
Toshiba Corporation
EnerSys, Inc.
Hitachi, Ltd.
Mitsubishi Corp.
Please ask for sample pages for full companies list
Base Year: 2022
Historical Data: from 2018 to 2021
Forecast Data: from 2023 to 2030
Any special requirements about this report, please let us know and we can provide custom report.
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