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Electric Vehicle Battery - Global Market Trajectory & Analytics

  • ID: 4804331
  • Report
  • April 2021
  • Region: Global
  • 281 Pages
  • Global Industry Analysts, Inc
Global Electric Vehicle Battery Market to Reach $87.2 Billion by 2027

Amid the COVID-19 crisis, the global market for Electric Vehicle Battery estimated at US$30.7 Billion in the year 2020, is projected to reach a revised size of US$87.2 Billion by 2027, growing at a CAGR of 16.1% over the analysis period 2020-2027. Lead Acid Battery, one of the segments analyzed in the report, is projected to record a 14.2% CAGR and reach US$28.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nickel Metal Hydride Battery segment is readjusted to a revised 15.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $8.3 Billion, While China is Forecast to Grow at 20.9% CAGR

The Electric Vehicle Battery market in the U.S. is estimated at US$8.3 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$19.8 Billion by the year 2027 trailing a CAGR of 20.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.5% and 14.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 12.7% CAGR.

Lithium ion Battery Segment to Record 17.7% CAGR

In the global Lithium ion Battery segment, USA, Canada, Japan, China and Europe will drive the 16.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$10.5 Billion in the year 2020 will reach a projected size of US$30.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$13.5 Billion by the year 2027, while Latin America will expand at a 19.5% CAGR through the analysis period.

Select Competitors (Total 44 Featured):
  • A123 Systems LLC
  • Automotive Energy Supply Corporation (AESC)
  • Bosch Mobility Solutions
  • BYD Co., Ltd.
  • Contemporary Amperex Technology Co., Limited
  • E-One Moli Energy Corporation
  • Hitachi Automotive Systems Ltd.
  • Johnson Controls, Inc.
  • LG Chem
  • Samsung SDI Co., Ltd
  • Tesla Motors, Inc.
  • Tianneng Power International Co., Ltd.
  • Wanxiang America Corporation
Frequently Asked Questions about the Global Market for Electric Vehicle Battery

What is the estimated value of the Global Market for Electric Vehicle Battery?

The Global Market for Electric Vehicle Battery was estimated to be valued at $30.7 Billion in 2020.

What is the growth rate of the Global Market for Electric Vehicle Battery?

The growth rate of the Global Market for Electric Vehicle Battery is 16.1%, with an estimated value of $87.2 Billion by 2027.

What is the forecasted size of the Global Market for Electric Vehicle Battery?

The Global Market for Electric Vehicle Battery is estimated to be worth $87.2 Billion by 2027.

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Electric Vehicle Battery: Prelude
  • Asia-Pacific to Spearhead Market Growth
  • BEV Batteries Segment Leads Global EV Battery Market by Propulsion Type
  • End-Use Segments Overview of Electric Vehicle Market.
  • Factors Driving Electric Vehicles Battery Market.
  • Increasing Sales of Electric Vehicles Translate into Growth for EV Batteries Market
  • Exhibit 1: Global Electric Vehicles Market - Percentage Breakdown of Vehicle Sales by Vehicle Type for the Years 2015, 2020, 2025 and 2030
  • Exhibit 2: Light Vehicles Market in North America - Breakdown of Sales in Thousands by Power Type for the Years 2015 through 2025
  • Competition
  • Intense Competition Characterizes EV Battery Market
  • Chinese Companies Dominate Global EV Battery Market
  • Competition in Li-Ion EV Battery Market
  • Exhibit 3: Global Passenger EV Li-Ion Batteries Market - Percentage Breakdown of Production by Leading Players
  • Tecnhology Investments and Capacity Expansions - Strategies of Players to Win Competition
  • EV Battery Makers Focus on R&D Initiatives
  • BASF Looks towards New Material Mix to Gain Ground in the EV Batteries Market
  • Shift towards Zero-Emission Vehicles and Low Cost Batteries Production Drive Growth
  • Development of EV Charging Infrastructure Drives EV Sales, Augurs Well for EV Batteries Market
  • Exhibit 4: Global Charging Energy Demand for EVs - Projected Energy Demand in Billion kWH by Region for the Years 2020, 2025 and 2030
  • Li-Ion Batteries to Power Future Growth in EV Battery Market
  • Li-Ion Batteries Market Rides on Expanding EV Production
  • Li-ion Batteries Market for Electric Buses
  • Challenges Confronting Manufacture of Li-Ion EV Batteries
  • Hybrid EV Battery Market: Rising Adoption of Hybrid Vehicles Fuels Growth
  • Solid-State Technology - A Promising Technology to Reinvent EV Battery Marketplace
  • Falling Prices of EV Batteries: A Positive Development for the Market
  • Exhibit 5: EV Battery Prices on a Downward Trend - Projected Fall in Cost Automotive Li-ion Battery Packs (US$/kWH) for the Years 2010, 2015, 2020, 2025 and 2030
  • Emergence of Alternative Materials to Aid Market Growth
  • Cobalt Emerges as the Latest Material for Use in Li-ion Batteries for EVs
  • Supportive Policies and Regulations Bolster Growth
  • Second-life Electric Vehicle Batteries Market - An Overview
  • Second Life EV Batteries - New Revenue Stream for EV Makers
  • Management of Thermal Runaway in EV Batteries: Essential to Ensure Safety
  • Environmental Management: A Key Challenge Facing EV Batteries Market
  • Favorable EV Battery Market Dynamics Energize Nickel Supply Marketplace
  • The Search for Better EV Batteries Continues…
  • Innovations & Advancements
  • Technological Advancements Impacting EV Batteries Market
  • A Glance at Few EV Battery Innovations
  • Refillable Batteries: An Innovation with Potential to Transform EV Market
  • Innolith Develops 1000 Wh/kg Rechargeable Battery for Electric Cars
  • Product Overview
  • Electric Vehicle Battery - Introduction
  • Recent Industry Activity
  • China Evergrande Group to Acquire Stake in Shanghai CENAT New Energy
  • Shell New Energies Takes Over Greenlots
  • Freudenberg Sealing Technologies Takes Over XALT Energy
  • LG Chem Gains EU Approval for New EV Batteries Plant in Poland's Dolnoslaskie Region
  • Tesla Takes Over Maxwell Technologies
  • Toyota and Panasonic Collaborate to Design and Build Batteries for Electric Vehicles

  • Limited EV Battery Capacity Presents Challenge for the US
  • Tesla - The Only Hope for US to Deal with China’s Dominance in EV Batteries Space
  • China Dominates EVs and EV Batteries Market
  • Relaxation of Rules: China's Domestic EV Battery Industry Faces Competition from Overseas Players
  • Discarded EV Batteries Presents an Opportunity for Chinese Recyclers
  • Europe Faces Stiff Challenge from Asia in EV Battery Market
  • Exhibit 6: EV Battery Supply (in Gigawatt Hours) in Europe for the Period 2017-2027
  • EU Announces State Aid for EV Battery Market
  • EU Invests to Strengthen Domestic EV Battery Industry
  • Europe to Boost Battery Manufacturing for EVs
  • Plans to Set Up EV Battery Plants Across Europe - A Review
  • France Announces Investments to Reduce Dependence on EV Batteries from Asia
  • Germany Invests in EV Battery Initiatives Amidst Growing Threat of Asian Makers
  • Asian Companies Dominate EV Battery Market
  • Asian Companies Use Nickel in EV Batteries to Cut Costs
  • Indian Government Promotes Indigenous Battery Manufacture to Support EV Industry
  • India's Li-Ion Batteries Market Rides on the Growing EV Market
  • Thailand to Spearhead EV Battery Manufacturing and Assembly in Asia

  • Total Companies Profiled: 44