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Electric Vehicle Battery Market worth $275.19 billion by 2030, growing at a CAGR of 11.20% - Exclusive Report by 360iResearch
Electric Vehicle Battery Market | 360iResearch
The Global Electric Vehicle Battery Market to grow from USD 130.88 billion in 2023 to USD 275.19 billion by 2030, at a CAGR of 11.20%.
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Electric vehicle (EV) batteries are the essential energy storage systems that power electric vehicles by converting stored electrical energy into mechanical energy. These batteries play a critical role in the overall performance, efficiency, and sustainability of EVs, as they directly influence the driving range, charging time, and lifespan of these environmentally-friendly transport solutions. EV batteries have evolved significantly over the years to meet increasing demands for clean transportation and address concerns related to traditional combustion engine vehicles by employing a variety of advanced technologies, designs, and materials. The rising focus on reducing vehicular emissions and government policies introduced towards promoting EV utilization drives the utilization of EV batteries. On the contrary, the high costs of battery production and limited battery capacities hinder market growth. However, the improvements in battery technologies and investments in the expansion of battery production by the private and public sectors are expected to proliferate the market growth in the coming years.
In the Americas, the United States holds a leading position in the EV battery market due to supportive policies from federal and state governments that include tax credits for electric vehicle purchases and policies that aim to make EVs more affordable and accessible to American families. South America has witnessed a rise in demand for EV batteries due to progressive government policies in countries such as Mexico and Chile seeking to promote clean transportation. Asia-Pacific has emerged as a global front-runner in both manufacturing and consumption of electric vehicle batteries due to the presence of key producers of lithium-ion batteries. The robust government policies promoting EV usage, such as subsidies on new energy vehicles' purchase price or registration fee waivers, along with aggressive targets on emission reductions set forth by national strategies, provide scope for market growth. In EMEA, Europe has been consistently accelerating its transition towards electrified transportation. Norway, Germany, France, and the UK have implemented various measures, including attractive purchase incentives such as subsidies and tax exemptions for EV buyers; they also have strict CO2 emission regulations which encourage manufacturers to invest in sustainable technologies. In the Middle East & Africa (MEA) region, initiatives and charging infrastructure development are expected to push demand for EV batteries upwards, primarily in Gulf Cooperation Council countries.
Market Segmentation & Coverage:
This research report categorizes the Electric Vehicle Battery Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Battery Type, market is studied across Lead-Acid, Lithium-Ion, and Nickel-Based. The Lithium-Ion is projected to witness significant market share during forecast period.
Based on Propulsion Type, market is studied across Battery Electric Vehicle, Fuel Cell Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle. The Battery Electric Vehicle is projected to witness significant market share during forecast period.
Based on Battery Bonding Type, market is studied across Laser Welding, Ultrasonic Welding, and Wire Bonding. The Laser Welding is projected to witness significant market share during forecast period.
Based on Battery Shape, market is studied across Cylindrical, Pouch, and Prismatic. The Pouch is projected to witness significant market share during forecast period.
Based on Battery Capacity, market is studied across 111 - 200 kWh, 201- 300 kWh, 50 - 110 kWh, < 50 kWh, and > 300 kWh. The > 300 kWh is projected to witness significant market share during forecast period.
Based on Vehicle Type, market is studied across Commercial Vehicles and Passenger Cars. The Commercial Vehicles is further studied across Heavy Commercial Vehicles and Light Commercial Vehicles. The Passenger Cars is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific is projected to witness significant market share during forecast period.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Electric Vehicle Battery Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Electric Vehicle Battery Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Electric Vehicle Battery Market, highlighting leading vendors and their innovative profiles. These include Bayerische Motoren Werke AG, BYD Motors, Inc., East Penn Manufacturing Company, Electrovaya Inc., Exide Industries Limited, Farasis Energy Europe GmbH, General Motors Company, GS Yuasa Corporation, Hitachi High-Tech Corporation, Honda Motor Co., Ltd., Johnson Controls International PLC, LG Energy Solution Ltd, NEC Corporation, Northvolt AB, Panasonic Corporation, Renault Group, Saft Groupe SAS, Samsung SDI Co.Ltd, SK innovation Co., Ltd., SVOLT Energy Technology (Europe) GmbH, Tata Motors Limited, Tesla, Inc., Tianneng Power International Co., Ltd., Toyota Motor Corporation, Volkswagen AG, and Wanxiang America Corporation.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Electric Vehicle Battery Market, by Battery Type
7. Electric Vehicle Battery Market, by Propulsion Type
8. Electric Vehicle Battery Market, by Battery Bonding Type
9. Electric Vehicle Battery Market, by Battery Shape
10. Electric Vehicle Battery Market, by Battery Capacity
11. Electric Vehicle Battery Market, by Vehicle Type
12. Americas Electric Vehicle Battery Market
13. Asia-Pacific Electric Vehicle Battery Market
14. Europe, Middle East & Africa Electric Vehicle Battery Market
15. Competitive Landscape
16. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Electric Vehicle Battery Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Electric Vehicle Battery Market?
3. What is the competitive strategic window for opportunities in the Electric Vehicle Battery Market?
4. What are the technology trends and regulatory frameworks in the Electric Vehicle Battery Market?
5. What is the market share of the leading vendors in the Electric Vehicle Battery Market?
6. What modes and strategic moves are considered suitable for entering the Electric Vehicle Battery Market?
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About 360iResearch
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