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Electric Vehicle Battery Market: Trends, Forecast and Competitive Analysis

Trends, opportunities and forecast in electric vehicle battery market to 2027 by battery type (lithium-ion, lead acid, nickel metal hydride), by propulsion (battery electric vehicle and lug in and hybrid electric vehicle), by vehicle (passenger cars and commercial vehicles), and region (North America, Europe, Asia Pacific, and the Rest of the World)

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Electric Vehicle Battery Market Trends and Forecast
The future of the global electric vehicle battery market looks promising with opportunities in the battery electric vehicle and plug-in hybrid and hybrid electric vehicle segments. The global electric vehicle battery market is expected to grow at a CAGR of 29.2% from 2021 to 2027. The major drivers for this market are rising demand for electric vehicles, increasing safety concerns, and environmental regulations.  

Emerging Trends in the Electric Vehicle Battery Market
Emerging technology trend, which has a direct impact on the dynamics of the industry, includes development of light weight as well as high energy density lithium-ion batteries.
A total of 58 figures / charts and 65 tables are provided in this 112-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched, and other details of the global electric vehicle battery market report, please download the report brochure.

 

 

Electric Vehicle Battery Market by Segments
Lucintel forecasts that Lithium-ion battery technology will remain the largest segment, and is expected to witness the highest growth over the forecast period. The study includes trends and forecast for the global electric vehicle battery market by technology, propulsion, vehicle type, and region as follows:

Technology Readiness by Technology Type

Competitive Intensity and Regulatory Compliance

Disruption Potential by Technology Type

Electric Vehicle Battery Market Trends and Forecast by Technology Type [$ Billion Shipment Analysis from 2016 to 2027]:

• Lithium-ion Battery
• Lithium-iron Phosphate (LFP)
• Lithium-nickel-manganese-cobalt (NMC)
• Lithium-manganese-spinal (LMO)
• Lithium-nickel-cobalt-aluminum (NCA)
• Lithium-Titanate (LTO)
• Nickle Metal Hydride
• Lead Acid Battery

Electric Vehicle Battery Market Technology Trends and Forecast by Propulsion [$ Billion Shipment Analysis from 2016 to 2027]:

• Battery Electric Vehicle
• Hybrid Electric Vehicle & Plug-in Hybrid Electric Vehicle

Electric Vehicle Battery Market Technology Trends and Forecast by Vehicle [$ Billion Shipment Analysis from 2016 to 2027]:

• Passenger Cars
• Commercial Vehicles

Electric Vehicle Battery Market Technology Trends and Forecast by Region [$ Billion Shipment Analysis from 2016 to 2027]:

• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Asia Pacific
• Japan
• China
• South Korea
• India
• The Rest of the World  

List of Electric Vehicle Battery Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric vehicle battery companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric vehicle battery companies profiled in this report includes. 

• Panasonic Corporation
• Samsung SDI
• Johnson Control
• Kokam
• BYD
• Toshiba Corporation
• LG Chem
• Sanyo Electric

Electric vehicle battery Market Insights

• Lucintel forecasts that Lithium-ion battery technology will remain the largest segment of the electric vehicle battery market, and is growing at above average growth.
• APAC is expected to remain the largest market and Europe is expected to witness the highest growth over the forecast period due to the growing demand for electric vehicles and the increasing adoption of fuel efficient electric vehicle technologies.

Features of the Global Electric vehicle battery Market

• Market Size Estimates: Global electric vehicle battery market size estimation in terms of value ($B) shipment.
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments.
• Segmentation Analysis: Global electric vehicle battery market size by various segments, such as by battery type, propulsion type, and vehicle type in terms of value.
• Regional Analysis: Global electric vehicle battery market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different segments by battery type, propulsion type, vehicle type, and regions for the global electric vehicle battery market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the global electric vehicle battery market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model 

FAQ
Q1. What is the electric vehicle battery market size?
Answer: The global electric vehicle battery market is expected to reach an estimated $616.1 billion by 2027.
Q2. What is the growth forecast for electric vehicle battery market?
Answer: The electric vehicle battery market is expected to grow at a CAGR of 29.2% from 2022 to 2027.
Q3. What are the major drivers influencing the growth of the electric vehicle battery market?
Answer: The major drivers for this market are rising demand for electric vehicles, increasing safety concerns, and environmental regulations.
Q4. What are the major applications or end use industries for electric vehicle battery?
Answer: Lithium-ion electric vehicle battery is the major segment by product for electric vehicle battery.
Q5. What are the emerging trends in electric vehicle battery market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include development of light weight as well as high energy density lithium-ion batteries.
Q6. Who are the key electric vehicle battery companies?
Answer: Some of the key electric vehicle battery companies are as follows:

• Panasonic Corporation
• Samsung SDI
• Johnson Control
• Kokam
• BYD
• Toshiba Corporation
• LG Chem
• Sanyo Electric

Q7.Which electric vehicle battery technology type segment will be the largest in future?
Answer: Lucintel forecasts that lithium-ion electric vehicle battery will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to the increasing demand for zero emission climates and government regulations.
Q8: In electric vehicle battery market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to remain the largest market and Europe is expected to witness the highest growth over the forecast period due to the growing demand for electric vehicles and the increasing adoption of fuel efficient electric vehicle technologies.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
 
This report answers following 11 key questions
Q.1 What are some of the most promising growth opportunities for the global electric vehicle battery market by battery type (lithium-ion, lead acid, nickel metal hydride), by propulsion (battery electric vehicle and lug in and hybrid electric vehicle), by vehicle (passenger cars and commercial vehicles), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?
Q.5 What are the business risks and competitive threats in this market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some of the changing demands of customers in the market?
Q.8 What are the new developments in the market and which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being taken by key players for business growth?
Q.10 What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11 What M&A activity has occurred in the last five years?

Report Scope

Key Features	Description
Base Year for Estimation	2021
Trend Period (Actual Estimates)	2016-2021
Forecast Period	2022-2027
Pages	178
Market Representation / Units	Revenue in US $ Billion
Regional Scope	North America (USA, Mexico, and Canada), Europe (Germany and United Kingdom), Asia (China, Japan, and India), and ROW (Middle East and Brazil)
Report Coverage	Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger, Acquisitions & Joint Venture, and Company Profiling
Market Segments	By Battery Type (Lithium-Ion, Lead Acid, and Nickel Metal Hydride), Propulsion (Battery Electric Vehicle and Lug In and Hybrid Electric Vehicle), and Vehicle (Passenger Cars and Commercial Vehicles)
Customization	10% Customization without Any Additional Cost

Table of Contents

1.  Executive Summary

 

2. Technology Landscape

2.1: Technology Background and Evolution

2.2: Technology and Application Mapping

2.3: Supply Chain

 

3. Technology Readiness

3.1: Technology Commercialization and Readiness

3.2: Drivers and Challenges in Electric Vehicle Battery Technologies

 

4. Technology Trends and Opportunities (2016-2027)

4.1: Electric Vehicle Battery Market Opportunity

4.2: Technology Trends (2016-2021) and Growth Forecasts (2022-2017)

4.2.1: Lithium-Ion

4.2.1.1: By Type

4.2.1.1.1: Lithium-Nickel-Manganese-Cobalt (NMC) 

4.2.1.1.2: Lithium-Nickel-Cobalt-Aluminum (NCA) 

4.2.1.1.3: Lithium-Titanate (LTO) 

4.2.1.1.4: Lithium-Iron Phosphate (LFP) 

4.2.1.1.5: Lithium-Manganese-Spinel (LMO) 

4.2.2: Lead Acid

4.2.3: Nickel Metal Hydride

4.3: Technology Opportunities by Propulsion

4.3.1: Battery Electric Vehicles (BEV) 

4.3.2: Hybrid Electric Vehicle and Plug-In Hybrid Electric Vehicles (HEV and PHEV) 

4.4: Technology Opportunities by Vehicle

4.4.1: Passenger Cars

4.4.2: Commercial Vehicles

 

5. Technology Opportunity by Region

5.1: Global Electric Vehicle Battery Market by Region

5.2: North American Electric Vehicle Battery Market

5.2.1: Market by Technology

5.2.2: United States Electric Vehicle Battery Market

5.2.3: Canadian Electric Vehicle Battery Market

5.2.4: Mexican Electric Vehicle Battery Market

5.3: European Electric Vehicle Battery Market

5.3.1: Market by Technology

5.3.2: German Electric Vehicle Battery Market

5.3.3: French Electric Vehicle Battery Market

5.3.4: United Kingdom Electric Vehicle Battery Market

5.4: APAC Electric Vehicle Battery Market

5.4.1: Market by Technology

5.4.2: Chinese Electric Vehicle Battery Market

5.4.3: Japanese Electric Vehicle Battery Market

5.4.4: Indian Electric Vehicle Battery Market

5.5: ROW Electric Vehicle Battery Market

5.5.1: Market by Technology

 

6. Companies and Ecosystem

6.1: Product Portfolio Analysis

6.2: Geographical Reach

6.3: Porter’s Five Forces Analysis

 

7. Strategic Implications

7.1: Implications

7.2: Growth Opportunity Analysis

7.2.1: Growth Opportunities for the Global Electric Vehicle Battery Market by Technology    

7.2.2: Growth Opportunities for the Global Electric Vehicle Battery Market by Propulsion

7.2.3: Growth Opportunities for the Global Electric Vehicle Battery Market by Region

7.3: Emerging Trends in the Global Electric Vehicle Battery Market

7.4: Strategic Analysis

7.4.1: New Product Development

7.4.2: Capacity Expansion in the Global Electric Vehicle Battery Market

 

8. Company Profiles of Leading Players

8.1: LG Chemical

8.2: Contemporary Amperex Technology (CATL) 

8.3: Panasonic Corporation

8.4: Kokam Co. Ltd. 

8.5: BYD

8.6: Samsung SDI

 

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Full Report: Electric Vehicle Battery Market: Trends, Forecast and Competitive Analysis Full Report $ 4,850 58 figures/charts and 65 tables are provided in this 112 - page report

Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:

• In-depth interviews of the major players in this market
• Detailed secondary research from competitors’ financial statements and published data 
• Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
• A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.

Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 

Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.