An electric-vehicle battery, is a battery used to power the electric motors of a battery electric vehicle (BEV) or hybrid electric vehicle (HEV). These batteries are generally rechargeable batteries, and are typically lithium-ion batteries. These batteries are precisely designed for a high ampere-hour (or kilowatt-hour) capacity.
Increased demand for electric vehicles globally, rapid rise in fuel prices, expansion of global auto manufacturers into new emerging markets, and favorable government initiatives are some important factors which boosting the growth of the global Electric Vehicle Battery market. Furthermore, governments are promoting the adoption of vehicles using alternative sources of fuel. Additionally, electric vehicles are zero-emission vehicles and are gaining preference for clean public transport across countries. These are another crucial factor which propels the growth of the global electric vehicle battery market.
However, stringent lead pollution norms in electric vehicle battery may hamper the market’s growth. Additionally, high import taxes on EV batteries and fluctuation in raw material prices are anticipated to restrict the growth of the global electric vehicle battery market. Besides, evolution of Lithium-ion technology in EV battery and growth in public charging infrastructure create several lucrative opportunities for the electric vehicle battery market.
Covid-19 Impact on Electric Vehicle Battery Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Electric Vehicle Battery Market Segment Overview
According to Battery Type, the Lithium-ion Battery segment will be leading the Electric Vehicle Battery market throughout the forecast period. This is due to the high demand for lithium-ion batteries in the electric vehicle industry. These batteries have higher energy density compared to lead-acid or nickel-metal hydride batteries. Additionally, their compact size makes them desirable in the automotive industry. For instance, Nissan's lithium-ion battery technology allows a higher density of lithium ions to be stored, increasing travel distance. Further, alternatives such as advanced batteries and supercapacitors cannot easily replace lithium-ion batteries owing to their performance, cost, weight, and size.
Electric Vehicle Battery Market, By Propulsion Type
· Battery Electric Vehicle
· Hybrid Electric Vehicle
· Plug-in Hybrid Electric Vehicle
Electric Vehicle Battery Market, By Battery Type
· Lead Acid Battery
· Nickel Metal Hydride Battery
· Lithium ion Battery
Electric Vehicle Battery Market, By Vehicle Type
· Passenger Car
· Commercial Vehicle
· Two-wheeler
Electric Vehicle Battery Regional Overview
Geographically, Asia Pacific is projected to account for a significant share of the global Electric Vehicle Battery market over the forecast period. This is on account of the increasing adoption of electric vehicles in developing countries such as China, Japan, and India in the region. In addition to this, Asia Pacific is expected to create numerous opportunities to vendors due to the presence of a large number of key vendors of the electric vehicle battery. Furthermore, Asia Pacific is estimated to dominate the overall market due to support policies of governments in the region and huge investment for the deployment of public charging infrastructure across Asia Pacific.
Electric Vehicle Battery Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Electric Vehicle Battery Market Competitor overview
Some key developments and strategies adopted by manufacturers in Electric Vehicle Battery are highlighted below.
· In August 2021, BMW secures funding for EV battery aiming to rival range of a traditional engine. A BMW project centered around the development of a long-distance electric vehicle battery has been awarded £26.2 million ($36.07 million) in joint funding from industry and the U.K. government.
Electric Vehicle Battery Market, Key Players
· Samsung SDI Co., Ltd.
· BYD Company Limited
· Panasonic Corporation
· Cummins, Inc.
· EnerSys
· Tesla, Inc.
· Hitachi Chemical Co., Ltd.
· CATL
· LG Chem
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Electric Vehicle Battery Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Propulsion Type
- 5.2.1. Battery Electric Vehicle
- 5.2.2. Hybrid Electric Vehicle
- 5.2.3. Plug-in Hybrid Electric Vehicle
- 5.3. Market Analysis, Insights and Forecast – By Battery Type
- 5.3.1. Lead Acid Battery
- 5.3.2. Nickel Metal Hydride Battery
- 5.3.3. Lithium ion Battery
- 5.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.4.1. Passenger Car
- 5.4.2. Commercial Vehicle
- 5.4.3. Two-wheeler
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Electric Vehicle Battery Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Propulsion Type
- 6.2.1. Battery Electric Vehicle
- 6.2.2. Hybrid Electric Vehicle
- 6.2.3. Plug-in Hybrid Electric Vehicle
- 6.3. Market Analysis, Insights and Forecast – By Battery Type
- 6.3.1. Lead Acid Battery
- 6.3.2. Nickel Metal Hydride Battery
- 6.3.3. Lithium ion Battery
- 6.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.4.1. Passenger Car
- 6.4.2. Commercial Vehicle
- 6.4.3. Two-wheeler
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Electric Vehicle Battery Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Propulsion Type
- 7.2.1. Battery Electric Vehicle
- 7.2.2. Hybrid Electric Vehicle
- 7.2.3. Plug-in Hybrid Electric Vehicle
- 7.3. Market Analysis, Insights and Forecast – By Battery Type
- 7.3.1. Lead Acid Battery
- 7.3.2. Nickel Metal Hydride Battery
- 7.3.3. Lithium ion Battery
- 7.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.4.1. Passenger Car
- 7.4.2. Commercial Vehicle
- 7.4.3. Two-wheeler
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Electric Vehicle Battery Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Propulsion Type
- 8.2.1. Battery Electric Vehicle
- 8.2.2. Hybrid Electric Vehicle
- 8.2.3. Plug-in Hybrid Electric Vehicle
- 8.3. Market Analysis, Insights and Forecast – By Battery Type
- 8.3.1. Lead Acid Battery
- 8.3.2. Nickel Metal Hydride Battery
- 8.3.3. Lithium ion Battery
- 8.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.4.1. Passenger Car
- 8.4.2. Commercial Vehicle
- 8.4.3. Two-wheeler
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Electric Vehicle Battery Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Propulsion Type
- 9.2.1. Battery Electric Vehicle
- 9.2.2. Hybrid Electric Vehicle
- 9.2.3. Plug-in Hybrid Electric Vehicle
- 9.3. Market Analysis, Insights and Forecast – By Battery Type
- 9.3.1. Lead Acid Battery
- 9.3.2. Nickel Metal Hydride Battery
- 9.3.3. Lithium ion Battery
- 9.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 9.4.1. Passenger Car
- 9.4.2. Commercial Vehicle
- 9.4.3. Two-wheeler
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Samsung SDI Co., Ltd.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. BYD Company Limited
- 10.6. Panasonic Corporation
- 10.7. Cummins, Inc.
- 10.8. EnerSys
- 10.9. Tesla, Inc.
- 10.10. Hitachi Chemical Co., Ltd.
- 10.11. CATL
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
