EV Battery Market Expected to Reach New Heights, Future Growth Projections and Emerging Trends

The Global EV Battery Market was valued at USD 147 Billion in 2024, and is anticipated to reach USD 475 Billion by 2032, exhibiting a CAGR of 14% during the forecast period 2024 to 2032.

The study targets the EV Battery Market size and future growth potential across various segments including delivery type, end-users, and geographic locations. The base year used to determine the market size of EV Battery Market ranges from 2024 to 2032.

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The second research element of the research technique to evaluate and forecast the market to collect information on the income of major suppliers. The offers of the suppliers were also taken into account in the market segmentation. A bottom-up methodology was used to estimate the overall global EV Battery Market size based on revenue generated by key market players.

Top Companies of EV Battery Market

• LG Energy Solution
• Panasonic Holdings Corporation
• BYD Company Limited
• SK Innovation Co
• Samsung SDI Co
• Gotion Inc.
• Mitsubishi Corporation
• Sunwoda Electronic Co
• EnerSys
• Farasis Energy

Scope Of The EV Battery Market

Emerging trends. The report on the EV Battery Market provides a comprehensive view of the market's future needs and potential opportunities. It also includes information about the key market players and their respective roles. Based on key market dynamics and growth-improving variables, this EV Battery Market report calculates the market value as well as the growth rate. All of the information used in this study is current industry news, market trends, as well as growth probabilities. The study also includes a detailed analysis of the market and competitor scenario, as well as a SWOT analysis for the most prominent competitors.

Market Segmentation:

By Propulsion

• BEV
• PHEV
• FCEV

By Battery Form

• Prismatic
• Pouch
• Cylindrical

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

By Material Type

• Cobalt
• Lithium
• Natural Graphite
• Manganese

By Battery Capacity

• 300 kWh

By Li-Ion Battery Component

• Positive Electrode
• Negative Electrode
• Electrolyte
• Separator

By Method

• Wire Bonding
• Laser Bonding

After the overall market size was determined, it was divided into a number of segments and sub-segments. These segments and sub-segments were then validated through basic research conducted through in-depth interviews with key individuals such as CEOs, VPs, directors, and executives. Data triangulation and market segmentation techniques have been employed to complete the entire market development process and produce accurate statistics for all segments and sub-segments.

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Recent Developments

• In January 2024, Panasonic Holdings Corp. announced that it plans to roll out the newest iteration of its electric vehicle battery cells with improved capacity as early as this calendar year. A revamped version of its 2170 cells will begin production at its manufacturing plant in Nevada sometime during 2024 or 2025.

• In February 2024, Panasonic Energy signed a seven-year offtake agreement with Nouveau Monde Graphite Inc. (NMG) for the supply of natural graphite. The battery company has also expressed its intent to invest in NMG, starting with an initial investment of $25 million. The partnership is seen as a key development in Panasonic Energy's expansion of its EV battery production in North America.

• In November 2023, BYD and KG Mobility signed a battery pack factory agreement to jointly develop next-generation hybrid systems.

• In October 2023, Samsung SDI clinched a supply deal for electric vehicle batteries with Hyundai Motor Company for the first time. Samsung SDI said the company will supply prismatic batteries for Hyundai Motor's electric vehicles, targeting the European market for seven years from 2026 through 2032.

• In October 2023, LG Energy Solution and Toyota Motor North America, Inc. (Toyota) announced that they have signed a supply agreement for lithium-ion battery modules to be used in Toyota battery electric vehicles (BEVs) that will be assembled in the US. Under the contract, LG Energy Solution will supply automotive battery modules at an annual capacity of 20 GWh starting from 2025.

Key Aspects Of The Report Include

★ In-depth study of global EV Battery Market: and fluctuating dynamics.

★ Detailed market segmentation.

★ Size of markets in terms of volume and value over time, current and future

★ Current developments and trends - Competitive global market environment EV Battery Market.

★ Strategy and products of major players.

★ Potential Markets and Isolated Areas of Potential Growth

EV Battery Market Regional Analysis

● North America [United States, Canada, Mexico]

● South America [Brazil, Argentina, Columbia, Chile, Peru]

● Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]

● Middle East & Africa [GCC, North Africa, South Africa]

● Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]

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Key Benefits For Stakeholders

★ This study comprises an analytical view of the global EV Battery Market along with current trends and future estimates to illustrate future investments.

★ The general market analysis EV Battery Market is used to understand profitable trends and gain a stronger position.

★ The report provides information on key drivers, constraints, and opportunities with a detailed impact analysis.

★ Current EV Battery Market forecasts are analyzed quantitatively for 2023-2032 to compare financial competencies.

★ Porter's Five Forces Analysis illustrates the power of buyers and suppliers in the EV Battery Market.

★ The report includes EV Battery Market trends and revenue shares of major vendors.

Major TOC of the Report

● Market Size

● EV Battery Market New Sales Volumes

● EV Battery Market Replacement Sales Volumes

● Market Installed Base

● Market By Brands

● Market Procedure Volumes

● Market Product Price Analysis

● EV Battery Market Cost of Care Analysis

Key Questions Answered In This Report

★ What is the size of the EV Battery Market and what is its expected growth rate?

★ What are the primary driving factors that push the EV Battery Market forward?

★ What are the EV Battery Market top companies?

★ What are the different categories that the EV Battery Market caters to?

★ What will be the fastest-growing segment or region?

★ In the value chain, what role do essential players play?

★ What is the procedure for getting a free copy of the EV Battery Market sample report and company profiles?

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