Electric Vehicle (EV) Battery Market Is Projected To Expand At A Prolific CAGR Of 18.5% By 2033

The market for electric vehicle (EV) batteries is anticipated to grow rapidly, with a CAGR of 18.5%, and will surpass US$ 63.55 billion in 2023 to reach US$ 347 billion by the end of 2033.

In-depth study of the market's structure and projections for the major automotive market segments are provided by the Electric Vehicle (EV) Battery market survey research. Also included are in-depth profiles of the principal importers and producers with an impact on the automotive industry. The report's study of a number of important variables will help the reader better understand the automobile sector.

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The study covers all of the market shares and business plans of significant market participants. The competitive environment in the global Electric Vehicle (EV) Battery market is analysed based on the top manufacturers, trends, opportunities, marketing strategy analysis, market effect factor analysis, and consumer needs, taking into account the industry's past, present, and future circumstances.

This study takes into account classification, engagement, applications, and market trends in addition to the main growth determinants. While focusing on emerging trends, this study also examines opportunities and barriers in the market for Electric Vehicle (EV) Batteries. A precise picture of the industry is intended to be provided by our specialists' exhaustive analysis of CAGR and market size.

The base year and forecast timeframe for this report are 2021 and this research is from 2021 to 2031. Recent developments and the competitive landscape is covered in this report making it further too detailed and useful for maintaining a competitive edge over other.

Market Players: -

• Bayerische Motoren Werke AG
• Daimler AG
• Ford Motor Company
• General Motors
• Honda Motor Company Limited
• Mitsubishi Heavy Industries Ltd.
• Nissan Motor Corporation Limited
• Renault SA
• Tesla Motors Inc.
• Toyota Motor Corporation
• Volkswagen AG, Toshiba Corporation
• Delphi Automotive LLC (Aptiv)
• Samsung SDI Co. Ltd.

Key Segments Covered

Power Source

• Stored Electricity Electric Vehicle Battery
• On-board Electric Generator Electric Vehicle Battery

Powertrain

• Series Hybrid Electric Vehicle Battery
• Parallel Hybrid Electric Vehicle Battery
• Combined Hybrid Electric Vehicle Battery

Vehicle Type

• Passenger Cars
• Commercial Vehicles
• Two Wheelers
• Others (Golf Carts etc.)

How are Surging E-mobility Trends Expected to Widen EV Battery Sales?

Surging emobility trends are expected to widen EV battery sales by increasing the demand for electric vehicles. As electric vehicles become more popular, the demand for EV batteries will rise as well. This increased demand will create more opportunities for battery manufacturers to expand their production capabilities and product offerings. Additionally, the expected growth in EV sales may lead to the development of new battery technologies that are more efficient and cost-effective. Lastly, the increased demand for EV batteries will lead to increased competition between battery manufacturers, which could lead to lower prices and improved technology.

Strategic alliances between e-mobility providers, battery makers, and energy suppliers are another trend that is predicted to promote sales of electric vehicle batteries. At the same time, automakers are pushing technology advancements to ensure that their electric vehicles have robust propulsion.

Regional analysis includes

North America (U.S., Canada)
Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
EU - (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
CIS & Russia
Japan
Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)

Competitive Landscape

Top manufacturers of electric vehicle batteries are focusing on new developments, quality control, product standards, collaborations, and supply chain management. Top automakers are concentrating on forming strategic alliances with battery producers to secure a stable supply of batteries.

For instance,

In 2021, Panasonic introduced its new Tesla-specific 4680 battery cell. According to the manufacturer, the new battery offers six times higher power capacity and five times more energy. A new battery cell may also be less expensive, have great efficiency, and have a long range in tiny battery packs.

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This release was published on openPR.