Global Electric Vehicle (EV) Battery Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Global Electric Vehicle (EV) Battery Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Updated on 26th May 2023 | Market Research Reports | Q2 2023 | Report ID: BR0749

About the Report

The global electric vehicle battery market is driven by a rise in the demand for zero-emission vehicles due to increasing global concerns regarding climate change and alarming pollution levels recorded in the major cities that have created a significant need for electric vehicles.

 

Drivers:

  • Collaborations and Procurements Initiated by Automobile and Raw material Companies to Hike their Presence in the EV market.
  • Expansion of global auto manufacturers into electric vehicle markets
  • Consumers have started adopting electric vehicles (EVs) and hybrid electric vehicles (HEVs) due to the growing trend toward adopting green cars. 
  • The growing aim of consumers to minimize the emission of GHGs and global warming is also encouraging automotive enthusiasts to opt for electric vehicles.
  • The hike in petroleum prices drives the growing demand for low commercial electric vehicles.
  • Growing financing and insurance options for electric vehicles have increased the demand for the EV battery market.
 

A battery is used as a secondary power source in automobiles. An electric vehicle battery or traction battery is a rechargeable battery. It uses electrochemical energy stored in rechargeable battery packs for power and therefore does not require any combustion engine for propulsion. An electric vehicle battery or traction battery is used to power the electric motors of a battery electric vehicle (BEV) or hybrid electric vehicle (HEV).

 

Mostly Lithium-ion batteries are  used in electric vehicles. They have a higher energy density than nickel-cadmium and lead-acid batteries. With these features of lithium-ion batteries, manufacturers can reduce the overall battery pack size and thus save space.

 

Some of the Battery Policies:

  • In May 2018, under the European Green Deal policy, the European Commission adopted the strategic action plan on batteries to support the battery supply chain in Europe, from raw material extraction, sourcing, and processing, battery materials, cell production, battery systems, and reuse to recycling.
  • In November 2021, the United States introduced the Federal Consortium for Advanced Batteries (FCAB) to bring Federal agencies interested in domestic manufacturing and supply of lithium ion batteries and are committed to accelerating the development of a robust and secure domestic industrial base.
  • In March 2022, India introduced the National Programme on Advanced Chemistry Cell Battery Storage (NPACC) under the Production Linked Incentive (PLI) Scheme to support the battery value chain in India, from raw material extraction, sourcing, and processing, battery materials, cell production, battery systems, reuse to recycling.
 

EV Battery Market Opportunities:

  • Supportive government policies and investments for deploying the public charging infrastructure and raw materials manufacturing are clubbed with the increasing efficiency of the electric vehicle are expected to create a significant opportunity for the electric vehicle battery market.
  • Growing demand for low speed electric vehicles such as golf cars and others. 
  • The development of new business models such as battery swapping and battery as a service can provide new opportunities for the electric vehicle battery market.

 

EV Battery Market Challenges:

  • Supply Chain Susceptibility for Important EV Battery Essentials to Hinder Demand
  • The growing global power crisis is one of the challenges hampering the electric vehicle (EV) battery market growth.
  • Lack of Charging Infrastructure and Scarce Material Supply had Limit the Adoption of electric vehicles.
  • Growing fuel cell vehicles demand in medium and high commercial vehicles 

 

EV Battery Market Restraints:

  • Increasing cost of lithium-ion batteries to thrust market growth
  • The country's dependence on oil imports has consequently increased, increasing the electricity cost. Thus, the power crisis and the increased cost of electricity generation significantly affect EV sales, thereby affecting EV batteries.
  • Reduction in subsidies in major markets such as China, Germany, and others.
  • High import taxes on EV batteries and EV vehicles in major markets such as India, the United States, and other countries.
 

Recent Developments :

 
  • In July 2022, Japanese electronics giant Panasonic is planning to spend $4 billion to build a new battery factory in the United States for electric vehicles.
  • In July 2022, Vietnamese automaker VinFast is partnered with Taiwanese battery startup ProLogium Technology on solid-state EV batteries for delivery as early as 2024.
  • In June 2022, China's automotive lithium-ion battery maker, Contemporary Amperex Technology Co Ltd, revealed a new battery that provides electric vehicles with a driving range of over 1,000 km on a single charge
 

Regional Market Analysis

The global electric vehicle battery market report is segmented based on geography into North America, including the United States, Canada, Mexico, and the Rest of North America; Europe, including Germany, France, United Kingdom (UK), Italy, Russia, and the Rest of Europe; Asia Pacific (APAC) including China, India, Japan, South Korea, Australia, Indonesia, and Rest of APAC; South America including Brazil and Rest of South America; and the Middle East and Africa including Saudi Arabia, Brazil, Nigeria, South Africa, and other countries.

 

Asia-Pacific is expected to be the leading region in the electric vehicle battery market during the forecast period, followed by North America, Europe, the Middle East, and South America.

  

Asia Pacific:

 

The Asia Pacific region has countries that have both developing and established battery markets. For instance, countries such as China, Japan, South Korea, Australia, and others have an established large-scale EV market, and others are increasing the demand for the electric vehicle battery market.

 

The Asia Pacific is expected to be the largest electric vehicle battery c market region during the forecast period. With a target to reduce emissions, energy storage systems demand will rise in the power generation sector, and electric vehicle demand will increase in transportation, especially in China, Japan, India, and others.

  

Blackridge Research's Electric Vehicle Battery Market report provides insights into the current market demand environment and prognosis.

 

The study thoroughly examines the many factors that impact the development of Electric Vehicle batteries. The study also comprehensively analyses the lithium ion battery materials by segmenting them based on region (Asia Pacific, North America, Europe, South America, Middle East, Africa), based on Battery Technology (Lithium ion battery, lead acid battery, Sodium ion battery, and Others).

 

The report also discusses current and future market possibilities, trends, advancements, the effect of Covid 19 impact  and the Ukraine and Russian War on the electric vehicles battery market, essential developments, regions, and segments poised for the fastest growing competitive landscape. Further, the report will also provide the electric vehicle battery market size, demand forecast, and growth rates. 

  Table of Contents

1. Executive Summary

2. Research Scope and Methodology

3. Market Analysis

  • 3.1 Introduction
  • 3.2 Market Dynamics
    • 3.2.1. Drivers
    • 3.2.2 Restraints
  • 3.3 Market Trends & Developments
  • 3.4 Analysis of Covid-19 Impact
  • 3.5 Market Opportunities
  • 3.6 Market Size and Forecast

4. Industry Analysis

  • 4.1 Supply Chain Analysis
  • 4.2 Porter’s Five Forces Analysis

5. Market Segmentation & Forecast

  • 5.1 By Battery Technology
    • 5.1.1 Lithium ion Battery
    • 5.1.2 Lead Acid Battery
    • 5.1.3 Others

6. Regional Market Analysis

  • 6.1 North America
  • 6.2 Europe
  • 6.3 Asia-Pacific
  • 6.4 South America
  • 6.5 Middle East & Africa

7. Key Company Profiles

  • 7.1 Clarios
  • 7.2 East Penn Manufacturing Co Inc
  • 7.3 GS Yuasa Corporation
  • 7.4 Exide Technologies
  • 7.5 Enersys
  • 7.6 C&D Technologies, Inc.
  • 7.7 FIAMM Energy Technology S.p.A.
  • 7.8 Camel Group Co., Ltd.
  • 7.9 Other Notable Players

8. Competitive Landscape

  • 8.1 List of Notable Players in the Market
  • 8.2 M&A, JV, and Agreements
  • 8.3 Market Share Analysis
  • 8.4 Strategies of Key Players

9. Conclusions and Recommendations

List of Tables & Figures

Abbreviations

Additional Notes

Disclaimer

  This report helps to:-

  • Gain a deeper understanding of the impact of COVID 19 on the electric vehicle battery market.             
  • Equip yourself with rigorous analysis and forward-looking insight into the lead acid battery market across various regions
  • Gain an understanding of uncertainty and discover how the most influential growth drivers and restraints in the regions will impact market development
  • Assess market data and forecasts to understand how the demand for different segments evolve over the next five years
  • Gain a comprehensive view of the emerging market trends and developments to assess market opportunities
  • Be better informed of your competition by gaining access to detailed information and analysis of key industry players.
  • Keep on top of M&A developments, JV’s and other agreements to assess the evolving competitive landscape and enhance your competitive position.

  Who need this report?

  • Battery Manufacturers
  • Energy Storage/Battery Component Suppliers
  • Raw Material Suppliers
  • Automobile Companies
  • Inverter Companies
  • Generator Set OEMs
  • Investor Community
  • Financing Companies
  • Government Bodies & Industry Organizations
  • Energy Engineering, Procurement, and Construction (EPC) firms
  • Other Stakeholders

  What's included

Report - Global Electric Vehicle Battery Market Outlook to 2028.pdf
Market Data Sheet - Global Electric Vehicle Battery Market Outlook to 2028.xls

  Why buy this report?

  • Gain a deeper understanding of the impact of Covid-19 on the <Electric Vehicle Battery Market>.
  • Equip yourself with rigorous analysis and forward-looking insights into the <Electric Vehicle Battery Market> across multiple regions.
  • Gain an understanding of uncertainty and discover how the most influential growth drivers and restraints in the regions will impact market development.
  • Assess market size data and forecasts to understand how the demand across various segments evolves over the next few years.
  • Gain a comprehensive view of the emerging market trends and developments to assess market opportunities.
  • Be better informed of your competition by gaining access to detailed information and analysis of key industry players.
  • Keep on top of M&A developments, JVs, and other agreements to assess the evolving competitive landscape and enhance your competitive position

  Want to know about Current Offers?

Offer 1 - Save with Multiple Purchases - Buy two reports or more and instantly save up to 15% off.

Offer 2 - Introductory offer for new customers - Flat 10% off on your first purchase.

To learn more about the report and our other current offers, contact us here or You can send an email to sales@blackridgeresearch.com

  Analyst access from Blackridge Research

All report purchases come with up to 60 minutes of phone time with an expert analyst who will assist you in connecting the report's key findings to the business issues you're dealing with. This must be used within three months of the report's purchase.

The above telephone time is excluding the post-purchase analyst support for any queries that you may have up to one year.

  Free Report Customization

We offer free customization of value USD 1500 for every report that you purchase. Get in touch with us to know more about free customization and our exciting custom research services.

  Further information

If you have any questions about this market research study, please do not hesitate to contact our research team using the top Contact us button, or you may also reach out at research@blackridgeresearch.com or call one of our Business Development managers:

AMERICAS (USA): +1 (917) 993 7467

ASIA (India): +91 8500 460 460

  Common Questions

You can purchase the report directly by selecting the licence type above and paying with a credit or debit card. Please contact sales@blackridgeresearch.com for other payment options.
We can provide quarterly and half yearly report updates. Please contact sales@blackridgeresearch.com for more information.
Single User License
The Single User License will provide access to only one user.

Team User License
The Team License will provide access only up to 7 users. This is great for a team.

Corporate License
This Premium package is ideal for large companies. By having Corporate license, any employee of your organization or its subsidiaries can access the report. You will also receive free industry update after six months and also a white label powerpoint presentation.
Yes, if you'd like to select certain sections of the report, please contact sales@blackridgeresearch.com
The report publication process involves several steps: Secondary Research, Discussion Guide Preparation, Primary Research (interviews, surveys, among others), Data Triangulation, Market Engineering, Data Validation, and Report Writing. One of the research specialists will explain the research process in detail. For more details about the report methodology, contact us at research@blackridgeresearch.com.
If for any reason you're not satisfied with the report, just email us at support@blackridgeresearch.com. We will make sure it's resolved!
We're here to help from day one, with 24/6 outstanding support. For report purchases, we will provide post-purchase analyst support for any queries that you may have related to report up to one year.
Sujith

Got a Question?

Sujith will help you find what you are looking for.

Call: +1 (917) 993 7467
+91 8500 460 460

Some of our clients

Haven’t found what you’re looking for?

More than 70% of our clients seek customized reports. Reach us out to get yours today!

Please Enter Business Email Address

By clicking "Submit" you are indicating that you have read and agree to be bound by the Blackridge Terms of Service and Privacy Policy.