Electric Vehicle Battery Market Top Key Players - LG Chem, Ltd, Contemporary Amperex Technology Co. Ltd (CATL), SK Innovation Co., Ltd, Panasonic Corporation

The global electric vehicle battery market was estimated at 108 Gwh in 2019 and $16.1 Billion , growing at 21% CAGR till 2025. With demand for lithium rising quickly, one can foresee increase in lithium prices. However, in terms of supply outlook a deficit in lithium supplies within the next 12–18 months is predicted.

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KEY FINDINGS

• The average battery capacity of BEVs varies widely from region to region. It is highest at ~ 45kWh in Europe, ~ 50kWh in China, and ~ 70kWh in the United States. For PHEVs, the average battery capacity in almost all regions was similar to 1112kWh.

• The price of battery packs for electric vehicles fell 13% in 2020. The price decline in 2020 was mainly due to increased orders, increased BEV sales, and the introduction of new pack designs.

• Increased energy density and falling battery prices due to weight and volume (kwh / kg and kWh / m3) are ultimately a striking trend in the global electric vehicle battery market, which can be compared to traditional electric vehicles.

• In terms of raw materials, the price of lithium has doubled from 2013 to ~ $ 10 $ 12 / kg in 2019, especially when we investigated how to mine child labor, but the supply, there is no current problem.

ELECTRIC VEHICLE BATTERY MARKET DYNAMICS

• Grinntech, a producer of lithium-ion batteries for electric two-wheelers, has completed a funding round of approximately $2 million, attended by all existing investors.

• CATL increased its Liion cell distribution to 4800 tonnes in the fourth quarter. The company also succeeded in testing a liquid-cooled battery energy storage system (BESS) based on lithium ion phosphate (LFP), the technology is set to pass all necessary tests.

• The all-new range of hundreds of EVs announced by established automakers is the largest growth driver for the global EV battery market. Many OEMs have announced extensive plans to launch cumulative 250 BEV and PHEV models by 2025 and 100 models in 2022 alone.

COVID-19 IMPACT ON EV BATTERY MARKET

The overall production, manufacturing and sales of automobiles have plummeted due to the COVID-19 global pandemic. The impact on electric vehicles has been quite positive compared to other sectors of the automotive industry. The total sales of electric vehicles in 2020 exceeded the previous year, showing a positive effect. However, the downtime of electronics manufacturing devices has affected components such as electronic ICs, PCBs, and battery systems.

COMPANY PROFILES

• LG Chem, Ltd
• Contemporary Amperex Technology Co. Ltd (CATL)
• SK Innovation Co., Ltd
• Panasonic Corporation
• BYD Company Limited
• Tianjin Lishen Battery Joint-Stock Co., Ltd
• Samsung SDI Co., Ltd
• Guoxuan High-Tech Co., Ltd
• Microvast Power Systems Co. Ltd
• Envision Group
• Automotive Energy Supply Corporation
• Funeng Industrial (Ganzhou) Co., Ltd

Read More Information: https://mobilityforesights.com/product/global-electric-vehicle-battery-market/

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