Electric Vehicle (EV) Batteries Market Analysis 2023-2032: Market Size, Top Segments, Leading Region Forecast

As per The Business Research Company's Electric Vehicle (EV) Batteries Opportunities And Strategies Market Report 2023, The global electric vehicles batteries market size reached a value of nearly $28,816.4 million in 2021, having increased at a compound annual growth rate (CAGR) of 30.6% since 2016. The market is expected to grow from $28,816.4 million in 2021 to $1,09,777.1 million in 2026 at a rate of 30.7%. The global electric vehicles batteries market size is then expected to grow at a CAGR of 22.7% from 2026 and reach $3,05,518.1 million in 2031.

The increase in in fuel prices are expected to drive the growth of the electric vehicle (EV) batteries market. Electric vehicles (EVs) are a potential low-cost alternative that may get traction in the current scenario of rising operational costs of petrol and diesel vehicles. Powered directly by the grid, EVs are increasingly proving to be operationally cheaper for their owners than petrol and diesel vehicles in terms of their total cost of ownership (TCO).

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The charging of electric vehicle batteries using vehicle to grid technology is expected to gain traction in the EV batteries Market. Vehicle-to-grid technology is a Bi-directional charging system technology in which plug-in electric vehicles like battery electric vehicles (BEV), plug-in hybrids (PHEV), or hydrogen fuel cell electric vehicles (FCEV) batteries' can communicate with the power grid for either returning electricity to the grid, to homes during the peak times or increase their charging rate to discharge and charge the battery accordingly.

The top opportunities in the electric vehicles batteries market segmented by type will arise in the lithium-ion, segment, which will gain $62,582.3 million of global annual sales by 2026. The top opportunities in segment by delivery channel will arise in the into passenger vehicles segment, which will gain $71,050.6 million of global annual sales by 2026. The top opportunities in segment by end users will arise in the Battery Electric Vehicle (BEV), which will gain $49,223.8 million of global annual sales by 2026. The electric vehicles batteries market size will gain the most in the China at $ 11,245.4 million.

Electric Vehicle (EV) Batteries Market Segmentation:

The Electric Vehicle (EV) Batteries market is segmented by type, by component, by function and by type of traders.

By Battery Type-
a) Lithium-Ion
b) Lead-Acid
c) Nickel-Metal Hydride
d) Others

By Vehicle Type-
a) Passenger Vehicles
b) Commercial Vehicles

By Propulsion Type-
a) Battery Electric Vehicle (BEV)
b) Plug-In Hybrid Electric Vehicle (PHEV)
c) Hybrid Electric Vehicles
d) Fuel Cell Electric Vehicles

Major players in the Electric Vehicle (EV) Batteries market include LG Energy Solution Ltd, Samsung SDI Co. Ltd, SK Innovation Co. Ltd., Panasonic Corporation, Contemporary Amp Technology Co. Ltd.

The regions covered in the global Electric Vehicle (EV) Batteries market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Electric Vehicle (EV) Batteries Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Electric Vehicle (EV) Batteries Market Report Table Of Content
1. Electric Vehicle (EV) Batteries Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
……
19. Company Profiles
20. Key Mergers and Acquisitions
21. Opportunities And Strategies
22. Electric Vehicle (EV) Batteries Market, Conclusions And Recommendations
23. Appendix

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