Press release
Electric Vehicle (EV) Batteries Plant Construction Market on Track for Strong Growth, Estimated to Grow at 10.8% CAGR Through 2029
Electric Vehicle (EV) Batteries Plant Construction
What Is the Expected CAGR for the Electric Vehicle (EV) Batteries Plant Construction Market Through 2025?
In recent times, the market size of the construction of electric vehicle (EV) battery plants has significantly expanded. Expectations are that it will increase from $10.35 billion in 2024 and achieve a value of $11.51 billion in 2025, maintaining a compound annual growth rate (CAGR) of approximately 11.2%. The substantial growth experienced during the historical period can be tied to factors such as the surge in consumer demand for electric vehicles, an escalation in investments pouring into EV battery technologies, a broader acceptance of renewable energy resources, amplified support and subsidies from government bodies, and a heightened global focus on achieving carbon neutrality goals.
What's the Projected Size of the Global Electric Vehicle (EV) Batteries Plant Construction Market by 2029?
The market size for constructing electric vehicle (EV) battery plants is set for a fast-paced expansion in the upcoming years, predicted to reach a value of $17.37 billion in 2029 with a compound annual growth rate (CAGR) of 10.8%. This projected growth during the forecast period is driven by factors such as increasing collaborations and joint ventures among automotive OEMs, heightened demand for energy storage systems beyond automotive use, ambitious expansion plans by prominent battery manufacturers, augmented urbanisation and smart city initiatives, and a surge in demand for fast-charging infrastructure. Trending advancements within this period encompass progress in lithium-ion battery technology, incorporation of renewable energy sources in battery plants, technological advancements in battery recycling methods, emerging developments in modular and scalable battery pack designs, and forward strides in battery thermal management systems.
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Top Growth Drivers in the Electric Vehicle (EV) Batteries Plant Construction Industry: What's Accelerating the Market?
The surge in consumer interest for electric vehicles is anticipated to significantly fuel the electric vehicle (EV) battery plant construction market's expansion. An electric vehicle - either fully or partially powered by electricity from rechargeable batteries - is becoming increasingly sought-after due to soaring fuel costs, making electric vehicles a more economical and budget-friendly mode of transport. The production conducted at electric vehicle (EV) batteries plant guarantees a consistent and expandable battery supply, facilitating wider acceptance and production efficacy. As an illustration, data from Cox Automotive, an American system software corporation, suggested in January 2025, that sales of electric vehicles saw an upward revision to 1,212,758 units in 2023, indicating a 49% increase when juxtaposed with 2022. Sales persisted in ascending by 7.3% in 2024, culminating in 1,301,411 units. Thus, the escalating consumer demand for electric vehicles is the key driver for the rise of the electric vehicle (EV) battery plant construction industry.
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What Trends Will Shape the Electric Vehicle (EV) Batteries Plant Construction Market Through 2029 and Beyond?
Primary firms in the EV battery plant construction industry are prioritizing the incorporation of advanced technologies such as ARC technology stack to boost efficiency in battery design, scalability, and production pace. The ARC technology stack is a modular battery design and manufacturing system that simplifies the creation of customized EV battery packs, reducing design time, enhancing scalability, and allowing for a quicker shift from prototype to production. For instance, in February 2025, Ionetic Ltd., a UK-based company specializing in software-accelerated battery pack technology, inaugurated a £5 million ARC fab pilot facility in Brackley, UK. The goal is to leverage its arc technology stack, expedite the production of custom EV battery packs, and enhance efficiency, scalability, and decrease time-to-market. The 5,000 square feet facility is anticipated to be fully functional by the third quarter of 2025, serving as the worldwide headquarters for Ionetic. The facility's design is intended to support the creation of battery packs for specialist original equipment manufacturers who produce trucks, buses, and off-road commercial vehicles.
What Are the Main Segments in the Electric Vehicle (EV) Batteries Plant Construction Market?
The electric vehicle (EV) batteries plant construction market covered in this report is segmented -
1) By Component: Building And Infrastructure, Machinery And Equipment, Energy Storage Systems, Control Systems And Automation
2) By Battery: Lithium-Ion Batteries, Solid-State Batteries, Lead-Acid Batteries, Nickel-Metal Hydride (NiMH) Batteries, Other Batteries
3) By Construction Type: New Plant Construction, Plant Expansion, Plant Renovation
4) By Plant Capacity: Up To 10 Gigawatt-Hour, 10-50 Gigawatt-Hour, Above 50 Gigawatt-Hour
Subsegments:
1) By Building And Infrastructure: Structural Framework, Roofing And Cladding, Heating, Ventilation, And Air Conditioning (HVAC) Systems, Water Supply And Drainage, Fire Safety And Suppression Systems, Interior Fit-Outs, Parking And Access Roads
2) By Machinery And Equipment: Battery Cell Assembly Machines, Module And Pack Assembly Systems, Conveyors And Handling Equipment, Welding And Laser Equipment, Dry Rooms And Air Handling Units, Mixing And Coating Machines, Formation And Aging Equipment
3) By Energy Storage Systems: Battery Racks And Cabinets, Battery Management Systems (BMS), Inverters And Converters, Thermal Management Systems, Power Conditioning Units, Charging And Discharging Stations
4) By Control Systems And Automation: Supervisory Control And Data Acquisition (SCADA) Systems, Programmable Logic Controllers (PLCs), Robotics And Automation Arms, Human-Machine Interface (HMI), Data Acquisition And Monitoring Systems, Quality Control And Testing Systems
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Which Top Companies are Driving Growth in the Electric Vehicle (EV) Batteries Plant Construction Market?
Major Companies operating in the electric vehicle (EV) batteries plant construction market are Volkswagen AG, Toyota Motor Corporation, Panasonic Energy Co. Ltd., SK Innovation Co. Ltd., Contemporary ere*x Technology Co. Limited, LG Energy Solution Ltd., Samsung SDI Co. Ltd., Sunwoda Electronic Co. Ltd., Barton Malow Company, EVE Energy Co. Ltd., Northvolt AB, VinFast Auto Ltd., Amara Raja Energy & Mobility Limited, BMZ Batterien-Montage-Zentrum GmbH, Ola Electric Mobility Private Limited, Shenzhen BAK Power Battery Co. Ltd., Microvast Holdings Inc., Forsee Power SA, Electrovaya Inc., Amplify Cell Technologies LLC, SVOLT Energy Technology Co. Ltd.
Which Regions Will Dominate the Electric Vehicle (EV) Batteries Plant Construction Market Through 2029?
Asia-Pacific was the largest region in the electric vehicle (EV) batteries plant construction market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electric vehicle (EV) batteries plant construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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