NCA Battery Market Share Driven by Rising Demand for Electric Mobility and Energy Storage Solutions | Valuates Reports

NCA Battery (Lithium Nickel Cobalt Aluminum Oxide Battery) Market
Lithium nickel cobalt aluminum oxide batteries are also called NCA batteries, and are becoming increasingly important in electric powertrains and in grid storage. NCA batteries are not common in the consumer industry, but are promising for the automotive industry. NCA batteries provide a high-energy option with a good lifespan, but they are not as safe as they could be and are quite costly.
The global NCA Battery (Lithium Nickel Cobalt Aluminum Oxide Battery) market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.

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The NCA battery market is expanding rapidly as the global shift toward sustainable energy and electric transportation accelerates. Increasing investments in clean mobility, government incentives for EV adoption, and the rising need for high-performance energy storage systems are strengthening overall market size. Market trends indicate a steady transition toward lithium-based chemistries that offer superior energy density, safety, and longer lifecycle performance, making NCA batteries a preferred choice for both automotive and industrial applications.

By type, batteries with 15% Co content hold the largest market share, driven by their widespread adoption in premium electric vehicles that demand high energy efficiency and reliability. Meanwhile, the 10% Co content segment is registering the fastest market growth as manufacturers seek to reduce reliance on cobalt while improving cost-effectiveness and sustainability. Both segments contribute to diversifying product portfolios, ensuring that the NCA battery market continues to meet evolving consumer and industrial needs.

In terms of application, battery electric vehicles account for the dominant market share due to surging global EV sales and the demand for extended driving range. Hybrid electric vehicles represent the fastest-growing segment, supported by their role in bridging the gap between traditional combustion engines and fully electric systems. Other applications, including stationary storage and industrial power solutions, are also gaining momentum, further enhancing overall market size.

Looking ahead, the NCA battery market forecast is defined by continuous innovation, supply chain optimization, and expanding adoption across mobility and energy sectors. Market growth will be supported by advancements in fast charging, recycling technologies, and reduced cobalt dependency. As regulatory support and infrastructure development accelerate, NCA batteries are set to remain at the forefront of the global energy transition, shaping long-term market trends and technological progress.

Segment by Type

• Co content 15%
• Co content 10%

Segment by Application

• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Others

By Company

Panasonic, Samsung SDI, Automotive Energy Supply Corporation(AESC), LG Chem

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