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Global EV Battery Market by Battery Capacity (300), Battery Form (Wire, Laser), Propulsion (BEV, PHEV, PHEV, FCEV), Battery Type, Material Type, Li-ion Battery Component, Method, Vehicle Type & Region - Forecast to 2025

  • ID: 5295210
  • Report
  • February 2021
  • Region: Global
  • 244 Pages
  • Markets and Markets
Global EV Battery Market is Projected to Grow at a CAGR of 25.3%, from US$ 27.3 Billion in 2021 to US$ 67.2 Billion by 2025

FEATURED COMPANIES

  • Aptiv plc
  • Clarios
  • E-One Moli Energy Corp.
  • GS Yuasa
  • LG Chem
  • Navistar

The global EV battery market is projected to grow at a CAGR of 25.3% from USD 27.3 billion in 2021 to USD 67.2 billion by 2025.

Factors such as improving battery technology, supporting government policies and regulations, and launch of new plug-in EV models will drive the EV battery market.

EV battery manufacturers have achieved innovative solutions in battery composition as well as battery design. An important focus on R&D in EV batteries is also on the reduction of volume that the battery occupies. For example, Samsung SDI modified the anode-cathode battery separator significantly to reduce the battery size. A Chinese EV battery manufacturer, CATL came up with ‘blade-thin’ battery cells that have a thickness of around a centimeter. The cells are stacked up to form a battery system.

Apart from reducing battery size, companies are also working on using different battery materials for improved battery performance. Companies like Toshiba, Targray, and Altairnano have adopted lithium titanate and graphite as anode and cathode materials, respectively. The materials improve battery safety and lifetime. In addition, there is a significant emphasis on the location of the battery in an EV. Unlike traditional vehicles where starter motor batteries are placed close to the engine at the front, the EV battery systems occupy a significantly large portion of the car space and are often placed at the bottom of the vehicle. Researchers are synthesizing battery systems such that they are smaller in size, have more energy density, and can be placed closer to drive wheels such that the size of the drivetrain is reduced as much as possible.

Recent developments in the electric vehicle market have led to the introduction of batteries with improved specifications. While these batteries are expected to enhance the performance and range of electric vehicles, factors such as the limited range of electric vehicles, significant charging time required, high price of EV batteries, the life of batteries, and availability of charging stations make users hesitant to opt for electric vehicles over ICE vehicles. Thus, EV battery manufacturers are focusing on overcoming these factors by developing advanced batteries with innovative fast- and rapid-charging solutions.

As of January 2021, the global EV battery market, by propulsion, is dominated by hybrid electric vehicles. Electric vehicles were initially commercialized to reduce the emissions from traditional fossil-fuel run ICE vehicles. As a result, hybrid electric vehicles still hold the largest share of the market as of 2021. However, the increasing focus on replacing conventional ICE vehicles with environment-friendly vehicles that run on pure electrical energy is expected to boost the market for BEVs exponentially, creating opportunities for EV battery makers.

The medium & heavy trucks segment is expected to be the fastest segment in the forecast

Medium trucks are generally used for distribution and refuse services, while heavy trucks are preferred for long haul transportation. The use of electricity as a fuel in medium & heavy trucks have encouraged several OEMs to launch electric trucks in 2021, which will eventually boost the EV battery market. For example, Navistar, which has launched its new business unit called NEXT eMobility Solutions, has plans to introduce international medium-duty electric trucks in 2021. The Tesla Semi, Tesla’s electric heavy-duty truck with a range of 500 miles, is also expected to begin production in 2021. All these upcoming projects raise the production of electric vehicle batteries globally and thereby drive the EV battery market.

North America is to lead the market for medium & heavy trucks during the forecast period. The presence of OEMs like Peterbilt, Freightliner, Kenworth, and Navistar and their focus on the production of electric medium-duty trucks drive the market in this region. The demand for these trucks is expected to boost the EV battery market, due to the increasing adoption of these trucks for refuse and distribution services. In January 2020, Frito-Lay took delivery of its first Peterbilt EV medium truck model.

Electrolyte is expected to be the largest li-ion battery component segment in the forecast period

An electrolyte is an electrically conducted solution present in lithium-ion batteries. It acts as a medium inside the battery that allows ions to move freely between positive and negative electrodes. The electrolyte helps attain safety and high performance in lithium-ion batteries. There are many different types of compositions possible and available, yet not all of them are compatible with other battery components.

Most electrolytes in lithium-ion batteries are non-aqueous solutions. Electrolytes used for such battery type consist of lithium hexafluorophosphate (LiPF6) salts and organic carbonate solvents such as Ethylene Carbonate (EC). Electrolyte operating temperature is limited and is between -20 0C and +50 0C. When electrolytes are exposed to environments that are not within this range of temperature, they could be permanently damaged.

Research Coverage

The study covers the EV battery market size and future growth potential across different segments such as by battery type, battery capacity, battery form, method, material type, propulsion, vehicle type, li-ion battery component, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

The EV battery market comprises major companies such as players CATL (China), Panasonic (Japan), LG Chem (South Korea), BYD (China), and Samsung SDI (South Korea).

Breakup of Primaries

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in this market.

  • By Company Type: Tier I - 52%, Tier II - 9%, and OEMs - 39%
  • By Designation: CXOs - 24%, Director Level - 45%, and Others - 31%
  • By Region: North America - 29%, Europe - 38%, and Asia-Pacific - 33%

Key benefits of buying the report:

  • The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall EV battery market and its subsegments
  • This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies
  • The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Aptiv plc
  • Clarios
  • E-One Moli Energy Corp.
  • GS Yuasa
  • LG Chem
  • Navistar

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Inclusions & Exclusions
Table 1 Inclusions & Exclusions for EV Battery Market
1.3 Market Scope
Figure 1 Market Segmentation: EV Battery Market
1.3.1 Years Considered for the Study
1.4 Stakeholders

2 Research Methodology
2.1 Research Data
Figure 2 Research Design
Figure 3 Research Methodology Model
2.1.1 Secondary Data
2.1.1.1 List of Key Secondary Sources
2.1.1.2 Key Data from Secondary Sources
2.1.2 Primary Data
Figure 4 Breakdown of Primary Interviews: by Company Type, Designation, & Region
2.1.2.1 List of Primary Participants
2.2 Market Estimation Methodology
Figure 5 Research Methodology: Hypothesis Building
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
Figure 6 Global EV Battery Market Size: Bottom-Up Approach
2.3.2 Top-Down Approach
Figure 7 Market Size Estimation Methodology for EV Battery Market: Top-Down Approach
Figure 8 EV Battery Market: Research Design & Methodology
Figure 9 EV Battery Market: Research Methodology Illustration of Samsung SDI Revenue Estimation
2.3.3 Factor Analysis for Market Sizing: Demand and Supply Side
2.4 Data Triangulation
Figure 10 Data Triangulation
2.5 Factor Analysis
2.6 Research Assumptions
2.7 Research Limitations

3 Executive Summary
Figure 11 EV Battery Market: Market Dynamics
Figure 12 EV Battery Market, by Region, 2021-2025
Figure 13 Passenger Cars Segment Estimated to Lead EV Battery Market from 2021 to 2025
3.1 COVID-19 Impact on EV Battery Market, 2018-2025

4 Premium Insights
4.1 Attractive Opportunities in the EV Battery Market
Figure 14 Increasing Adoption of Electric Vehicles and Growing Government Incentives Will Drive the Market in the Next 5 Years
4.2 EV Battery Market, by Region
Figure 15 Asia-Pacific is Estimated to Account for the Largest Share of the EV Battery Market in 2021
4.3 Asia-Pacific EV Battery Market, by Country & Vehicle Type
Figure 16 China Estimated to be the Largest EV Battery Market in Asia-Pacific in 2021
4.4 EV Battery Market, by Vehicle Type
Figure 17 Passenger Cars Segment Expected to be the Largest Segment from 2021 to 2025
4.5 EV Battery Market, by Propulsion
Figure 18 FCEV Segment Projected to Grow at the Highest CAGR During the Forecast Period (By Volume)
4.6 EV Battery Market, by Battery Form
Figure 19 Prismatic Segment Expected to be the Largest Segment from 2021 to 2025
4.7 EV Battery Market, by Method
Figure 20 Laser Bonding Segment is Projected to Grow at a Higher CAGR During the Forecast Period (By Volume)
4.8 EV Battery Market, by Material
Figure 21 Lithium is Estimated to be the Largest Segment in 2021
4.9 EV Battery Market, by Li-Ion Battery Component
Figure 22 Electrolyte is Estimated to be the Largest Segment in 2021 (By Value)
4.10 EV Battery Market, by Battery Capacity
Figure 23 50-110 kWh is Estimated to be the Largest Segment in 2021
4.11 EV Battery Market, by Battery Type
Figure 24 Lithium-Ion Battery Type is Estimated to be the Largest Segment in 2021

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 25 EV Battery Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Increasing Demand for Electric Vehicles
Table 2 Government Incentives, by Country
5.2.1.2 Improvement in Battery Technology
Table 3 EV Battery Improvements/Innovation
5.2.1.3 Government Policies & Regulations
Table 4 Government Regulations
5.2.1.4 Launch of New Plug-In Models by Major EV Manufacturers
Table 5 Partnerships by OEMs
5.2.2 Restraints
5.2.2.1 Procurement Concerns Related to Raw Materials
5.2.2.2 Concerns Over Battery Safety
5.2.3 Opportunities
5.2.3.1 Rising Electric Micromobility
Figure 26 Global EV Sales, 2017-2019
5.2.3.2 Introduction of the Battery-as-a-Service Model (BaaS)
5.2.4 Challenges
5.2.4.1 Reduction in Subsidies in Major Markets
Table 6 Subsidies Offered for Electric Vehicles in China
5.2.4.2 Charging-Related Issues
5.2.5 Impact of Market Dynamics
Table 7 Impact of Market Dynamics
5.3 EV Battery Market, Market Scenarios (2021-2025)
Figure 27 EV Battery Market: Future Trends & Scenarios, 2020-2025
5.3.1 Most Likely Scenario
Table 8 EV Battery Market: Most Likely Scenario, by Region, 2018-2025 (USD Million)
5.3.2 Optimistic Scenario
Table 9 EV Battery Market: Optimistic Scenario, by Region, 2020-2025 (USD Million)
5.3.3 Pessimistic Scenario
Table 10 EV Battery Market: Pessimistic Scenario, by Region, 2020-2025 (USD Million)
5.4 Porter's Five Forces
Figure 28 Porter's Five Forces: EV Battery Market
5.4.1 Threat of New Entrants
5.4.1.1 Major Automobile Giants Entering the EV Market
5.4.1.2 Emergence of New Companies
5.4.1.3 Incentives by Governments Throughout the World for EV Battery Manufacturing
5.4.1.4 Strict Safety Regulations
5.4.2 Threat of Substitutes
5.4.2.1 Types of Automobile Batteries
5.4.2.2 Threat of Substitution of Lithium-Ion Battery
5.4.2.3 Development of New Types of Batteries
5.4.2.4 Development of Alternative Clean-Fuel Vehicles
5.4.3 Bargaining Power of Buyers
5.4.3.1 Declining Prices of EV Batteries
5.4.3.2 Increased Demand for EV Batteries
5.4.3.3 Major Buyers of EV Batteries
5.4.3.4 Increasing Demand for Micro-Mobility
5.4.3.5 Demand for EVs for Public Transportation
5.4.4 Bargaining Power of Suppliers
5.4.4.1 Change in Demand of Major Raw Materials
5.4.4.2 Prices of Major Raw Materials
5.4.4.3 Emphasis on Eliminating the Requirement of Certain Raw Materials
5.4.4.4 Limited Sources and Non-Uniform Distribution of Raw Materials
5.4.5 Intensity of Competitive Rivalry
5.4.5.1 Currently Limited Number of Major Players
5.4.5.2 Exceptional Growth of Certain Companies
5.4.5.3 Heavy R&D in Battery Technology
5.4.5.4 Requirement of Technical Know-How
5.4.5.5 Entry of Large Automakers in EV Market
5.5 Pricing Analysis
Figure 29 Price of EV Battery Per kWh
Figure 30 Cost Per kWh of Major Raw Materials Used in EV Batteries
Figure 31 Cost Breakdown of Cell by Materials/Components
Figure 32 Total Cost of Lithium-Ion Battery Cell
5.6 Supply Chain Analysis
Figure 33 EV Battery Market: Supply Chain Analysis
Figure 34 EV Battery Market: Value Chain Analysis
5.7 Ecosystem
Table 11 Top EV with Battery Specification
5.8 Technology Analysis
5.8.1 Introduction
5.8.2 Improvement in Battery Composition
5.8.3 Improvement in Battery Charging Rate
Figure 35 Charging Time for Cars, by Model (In Hours)
5.8.4 Battery Design and Location in Ev
5.8.5 Battery Related Services
5.8.6 Battery Optimization
5.9 Patent Analysis
Table 12 Important Patent Registrations Related to EV Battery Market
5.10 Case Study
5.10.1 Tesla Claims to Reduce Battery Costs by Innovation
5.10.2 Indian Oil Corporation Limited (IOCL) Launches Battery Swapping Service
5.10.3 CATL Developing No Nickel, No Cobalt EV Battery
5.10.4 Panasonic Announces Development of Solid-State Battery
5.11 Trade/Sales Data
5.11.1 China
Table 13 Electric Vehicle Sales (BEV and PHEV) in China (Units)
5.11.2 Japan
Table 14 Electric Vehicle Sales (BEV and PHEV) in Japan (Units)
5.11.3 South Korea
Table 15 Electric Vehicle Sales (BEV and PHEV) in South Korea (Units)
5.11.4 India
Table 16 Electric Vehicle Sales (BEV and PHEV) in India (Units)
5.11.5 US
Table 17 Electric Vehicle Sales (BEV and PHEV) in US (Units)
5.11.6 Germany
Table 18 Electric Vehicle Sales (BEV and PHEV) in Germany (Units)
5.11.7 UK
Table 19 Electric Vehicle Sales (BEV and PHEV) in UK (Units)
5.11.8 Norway
Table 20 Electric Vehicle Sales (BEV and PHEV) in Norway (Units)
5.12 Regulatory Overview
Table 21 Regulations/Voluntary Procedures for EV Battery Performance
Table 22 Regulations/Voluntary Procedures for EV Battery Durability
Table 23 Regulations/Voluntary Procedures for EV Battery Safety
Table 24 Regulations/Voluntary Procedures for EV Battery Recycling
5.13 EV Battery Market: COVID-19 Impact
5.13.1 Impact on Raw Material Supply
5.13.2 Impact on Battery Production
5.13.3 Impact due to Slowdown of EV Demand

6 EV Battery Market, by Battery Type
6.1 Introduction
Figure 36 EV Battery Market, by Battery Type, 2021 vs. 2025 (Units)
Table 25 EV Battery Market, by Battery Type, 2018-2025 (Units)
6.2 Operational Data
Table 26 Electric Commercial Vehicle Data, by Company, Model & Battery Type
Figure 37 US: Plug-In Sales, by Model
6.2.1 Research Methodology
6.2.2 Assumptions
6.2.3 Key Primary Insights
Figure 38 Key Primary Insights
6.3 Lithium-Ion
6.3.1 High Energy Density and Long-Life Cycle Drive this Segment
Figure 39 Comparative Evaluation of Electric Vehicles Using Lithium-Ion Battery
Table 27 Lithium-Ion Battery Market, by Region, 2018-2025 (Units)
6.4 Lead-Acid
6.4.1 Development of Advanced Lead-Acid Battery Will Drive the Market in Future
6.5 Nickel-Metal Hydride
6.5.1 Long Life Cycle and High Tolerance of Nickel Metal Hydride Batteries Will Drive Their Demand
6.6 Solid-State
6.6.1 High Energy Storage Capability of Solid-State Batteries Fuel Their Drive Demand
Table 28 US Transit Agencies Using Battery-Powered Electric Buses
Table 29 Solid-State Market, by Region, 2018-2025 (Units)
6.7 Others
Table 30 Others: EV Batteries Market, by Region, 2018-2025 (Units)

7 EV Battery Market, by Li-Ion Battery Component
7.1 Introduction
Figure 40 EV Battery Market, by Li-Ion Battery Component, 2021 vs. 2025
Table 31 EV Battery Market, by Li-Ion Battery Component, 2018-2025 (USD Million)
7.2 Operational Data
Table 32 Electrolyte Solvents, by Temperature & Flashpoint
Table 33 Most Commonly Used Lithium-Ion Batteries and Their Specifications
7.2.1 Research Methodology
7.2.2 Assumptions
7.2.3 Key Primary Insights
Figure 41 Key Primary Insights
7.3 Negative Electrode
7.3.1 High Presence of Negative Electrode Companies Will Drive the Market in Asia-Pacific
Table 34 Negative Electrode in EV Battery Market, by Region, 2018-2025 (USD Million)
7.4 Positive Electrode
7.4.1 Demand for High Performance and Long-Life Cycle Cells Will Drive the Market
Table 35 Positive Electrode in EV Battery Market, by Region, 2018-2025 (USD Million)
7.5 Electrolyte
7.5.1 Safety and High Performance of Batteries Drive the Market for Electrolyte
Table 36 Electrolyte in EV Battery Market, by Region, 2018-2025 (USD Million)
7.6 Separator
7.6.1 Need for Separators in Batteries to Attain Temperature Stability Will Drive the Market
Table 37 Separator in EV Battery Market, by Region, 2018-2025 (USD Million)

8 EV Battery Market, by Propulsion
8.1 Introduction
Figure 42 EV Battery Market, by Propulsion, 2021 vs. 2025
Table 38 EV Battery Market, by Propulsion, 2018-2025 (Units)
8.2 Operational Data
Table 39 Region-Wise EV Sales Data, 2016-2019, (Thousand Units)
Table 40 Electric Commercial Vehicle Data, by Company, Model & Propulsion Type
8.2.1 Research Methodology
8.2.2 Assumptions
8.2.3 Key Primary Insights
Figure 43 Key Primary Insights
8.3 Battery Electric Vehicles (BEVs)
Table 41 BEV: EV Battery Market, by Region, 2018-2025 (Units)
8.4 Hybrid Electric Vehicles (HEVs)
Table 42 HEV: EV Battery Market, by Region, 2018-2025 (Units)
8.5 Plug-Hybrid Electric Vehicles (PHEVs)
Table 43 PHEV: EV Battery Market, by Region, 2018-2025 (Units)
8.6 Fuel Cell Electric Vehicles (FCEVs)
Table 44 FCEV: EV Battery Market, by Region, 2018-2025 (Units)

9 EV Battery Market, by Vehicle Type
9.1 Introduction
Figure 44 EV Battery Market, by Vehicle Type, 2021 vs. 2025
Table 45 EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 46 EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
9.2 Operational Data
Table 47 Electric Vehicles, by Model, Vehicle Type & Propulsion
9.2.1 Research Methodology
9.2.2 Assumptions
9.2.3 Key Primary Insights
Figure 45 Key Primary Insights
9.3 Passenger Cars
9.3.1 Growing Emission Norms for Passenger Cars Will Boost the Demand for EV Batteries
Table 48 EV Battery Market in Passenger Cars, by Region, 2018-2025 (Units)
Table 49 EV Battery Market in Passenger Cars, by Region, 2018-2025 (USD Million)
Table 50 EV Battery Market in Passenger Cars, by Battery Capacity, 2018-2025 (Units)
Table 51 <50 kWh: EV Battery Market in Passenger Cars, by Region, 2018-2025 (Units)
Table 52 50-110 kWh: EV Battery Market in Passenger Cars, by Region, 2018-2025 (Units)
Table 53 111-200 kWh: EV Battery Market in Passenger Cars, by Region, 2018-2025 (Units)
9.4 Vans/Light Trucks
9.4.1 Increasing Demand from Logistics Sector Expected to Drive this Segment
Table 54 EV Battery Market in Vans/Light Trucks, by Region, 2018-2025 (Units)
Table 55 EV Battery Market in Vans/Light Trucks, by Region, 2018-2025 (USD Million)
Table 56 EV Battery Market in Vans/Light Trucks: by Battery Capacity, 2018-2025 (Units)
Table 57 <50 kWh: EV Battery Market in Vans/Light Trucks, by Region, 2021 (By Value)
Table 58 50-110 kWh: EV Battery Market in Vans/Light Trucks, by Region, 2018-2025 (Units)
Table 59 111-200 kWh: EV Battery Market in Vans/Light Trucks, by Region, 2018-2025 (Units)
Table 60 201-300 kWh: EV Battery Market in Vans/Light Trucks, by Region, 2018-2025 (Units)
Table 61 >300 kWh: EV Battery Market in Vans/Light Trucks, by Region, 2018-2025 (Units)
9.5 Medium & Heavy Trucks
9.5.1 Adoption of Electric Medium and Heavy Trucks for Short and Long Ranges to Boost Market
Table 62 EV Battery Market in Medium & Heavy Trucks, by Region, 2018-2025 (Units)
Table 63 EV Battery Market in Medium & Heavy Trucks, by Region, 2018-2025 (USD Million)
Table 64 EV Battery Market in Medium & Heavy Trucks, by Battery Capacity, 2018-2025 (Units)
Table 65 50-110 kWh: EV Battery Market in Medium & Heavy Trucks, by Region, 2018-2025 (Units)
Table 66 111-200 kWh: EV Battery Market in Medium & Heavy Trucks, by Region, 2018-2025 (Units)
Table 67 201-300 kWh: EV Battery Market in Medium & Heavy Trucks, by Region, 2018-2025 (Units)
Table 68 >300 kWh: EV Battery Market in Medium & Heavy Trucks, by Region, 2018-2025 (Units)
9.6 Buses
9.6.1 High Demand from Major OEMs in Asia-Pacific Will Drive the Market Significantly
Table 69 Us Transit Agencies Purchasing Battery-Powered Electric Buses
Table 70 EV Battery Market in Buses, by Region, 2018-2025 (Units)
Table 71 EV Battery Market in Buses, by Region, 2018-2025 (USD Million)
Table 72 EV Battery Market in Buses, by Battery Capacity, 2018-2025 (Units)
Table 73 111-200 kWh: EV Battery Market in Buses, by Region, 2018-2025 (Units)
Table 74 201-300 kWh: EV Battery Market in Buses, by Region, 2018-2025 (Units)
Table 75 >300 kWh: EV Battery Market in Buses, by Region, 2018-2025 (Units)
9.7 Off-Highway Vehicles
9.7.1 Demand of High Power Heavy-Duty Electric Trucks in Agriculture and Construction Industries Drive the Market
Table 76 EV Battery Market in Off-Highway Vehicles, by Region, 2018-2025 (Units)
Table 77 EV Battery Market in Off-Highway Vehicles, by Region, 2018-2025 (USD Million)
Table 78 EV Battery Market in Off-Highway Vehicles, by Battery Capacity, 2018-2025 (Units)
Table 79 <50 kWh: EV Battery Market in Off-Highway Vehicles, by Region, 2018-2025 (Units)
Table 80 50-110 kWh: EV Battery Market in Off-Highway Vehicles, by Region, 2018-2025 (Units)
Table 81 111-200 kWh: EV Battery Market in Off-Highway Vehicles, by Region, 2018-2025 (Units)
Table 82 201-300 kWh: EV Battery Market, by Region, 2018-2025 (Units)
Table 83 >300 kWh: EV Battery Market in Off-Highway Vehicles, by Region, 2018-2025 (Units)

10 EV Battery Market, by Battery Capacity
10.1 Introduction
Figure 46 EV Battery Market, by Battery Capacity, 2021 vs. 2025
Table 84 EV Battery Market, by Battery Capacity, 2018-2025 (Units)
Table 85 EV Battery Market, by Battery Capacity, 2018-2025 (USD Million)
Table 86 Electric Commercial Vehicle Data, by Model & Battery Capacity
10.1.1 Research Methodology
10.1.2 Assumptions
10.1.3 Key Primary Insights
Figure 47 Key Primary Insights
10.2 <50 kWh
10.2.1 Cost Factor Will Drive the Market for Battery with <50 kWh Capacity
Table 87 <50 kWh: EV Battery Market, by Region, 2018-2025 (Units)
Table 88 <50 kWh: EV Battery Market, by Region, 2018-2025 (USD Million)
Table 89 <50 kWh: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
10.3 50-110 kWh
10.3.1 Increased Demand for Electric Vans/Light Trucks Will Fuel the Market for Batteries with Capacity Ranging from 50-110 kWh
Table 90 50-110 kWh: EV Battery Market, by Region, 2018-2025 (Units)
Table 91 50-110 kWh: EV Battery Market, by Region, 2018-2025 (USD Million)
Table 92 50-110 kWh: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
10.4 111-200 kWh
10.4.1 Demand for Electric Commercial Trucks & Buses Expected to Drive this Segment
Table 93 111-200 kWh: EV Battery Market, by Region, 2018-2025 (Units)
Table 94 111-200 kWh: EV Battery Market, by Region, 2018-2025 (USD Million)
Table 95 111-200 kWh: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
10.5 201-300 kWh
10.5.1 Buses and Trucks with 201-300 kWh Battery Capacity Dominate Chinese Public Transport Fleet
Table 96 201-300 kWh: EV Battery Market, by Region, 2018-2025 (Units)
Table 97 201-300 kWh: EV Battery Market, by Region, 2018-2025 (USD Million)
Table 98 201-300 kWh: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
10.6 >300 kWh
10.6.1 Increased Demand for Heavy Commercial and Off-Highway Vehicles Drive the Market for Batteries with >300 Capacity
Table 99 >300 kWh: EV Battery Market, by Region, 2018-2025 (Units)
Table 100 >300 kWh: EV Battery Market, by Region, 2018-2025 (USD Million)
Table 101 >300 kWh: EV Battery Market, by Vehicle Type, 2018-2025 (Units)

11 EV Battery Market, by Material Type
11.1 Introduction
Figure 48 EV Battery Market, by Material Type, 2021 vs. 2025
Table 102 EV Battery Market, by Material Type, 2018-2025 (USD Million)
11.2 Operational Data
Table 103 Types of Lithium-Ion Battery Chemistries
11.2.1 Research Methodology
11.2.2 Assumptions
11.2.3 Key Primary Insights
Figure 49 Key Primary Insights
11.3 Cobalt
11.3.1 Resistance Towards High Temperature Will Drive the Demand for Cobalt
Figure 50 Cobalt Deployment in Electric Vehicles, by Region
Table 104 Cobalt in EV Battery Market, by Region, 2018-2025 (USD Million)
11.4 Lithium
11.4.1 Higher Energy Density of Lithium is Expected to Fuel Its Demand
Figure 51 Lithium Deployment in EVs, by Region
Table 105 Lithium in EV Battery Market, by Region, 2018-2025 (USD Million)
11.5 Natural Graphite
11.5.1 Demand for Natural Graphite in HEVs and PHEVs is Expected to Boost Its Market
Figure 52 Natural Graphite Reserves
Table 106 Natural Graphite in EV Battery Market, by Region, 2018-2025 (USD Million)
11.6 Manganese
11.6.1 Advancement in Battery Technology Will Drive the Market
Figure 53 Manganese Reserves
Table 107 Manganese in EV Battery Market, by Region, 2018-2025 (USD Million)

12 EV Battery Market, by Method
12.1 Introduction
Figure 54 EV Battery Market, by Method, 2021 vs. 2025
Table 108 EV Battery Market, by Method, 2018-2025 (Units)
12.2 Operational Data
Figure 55 Different Battery Assembly Methods
12.2.1 Assumptions
12.2.2 Research Methodology
12.2.3 Key Primary Insights
Figure 56 Key Primary Insights
12.3 Wire Bonding
Table 109 Wire Bonding: EV Battery Market, by Region, 2018-2025 (Units)
12.4 Laser Bonding
Table 110 Laser Bonding: EV Battery Market, by Region, 2018-2025 (Units)

13 EV Battery Market, by Battery Form
13.1 Introduction
Figure 57 EV Battery Market, by Battery Form, 2021 vs. 2025
Table 111 EV Battery Market, by Battery Form, 2018-2025 (Units)
13.2 Operational Data
Table 112 EV Battery Cell Characteristics
13.2.1 Assumptions
13.2.2 Research Methodology
13.2.3 Key Primary Insights
Figure 58 Key Primary Insights
13.3 Prismatic
Table 113 Prismatic EV Battery Market, by Region, 2018-2025 (Units)
13.4 Pouch
Table 114 Pouch EV Battery Market, by Region, 2018-2025 (Units)
13.5 Cylindrical
Table 115 Cylindrical EV Battery Market, by Region, 2018-2025 (Units)

14 EV Battery Market, by Region
14.1 Introduction
Figure 59 EV Battery Market, by Region, 2021 vs. 2025
Table 116 EV Battery Market, by Region, 2018-2025 (Units)
Table 117 EV Battery Market, by Region, 2018-2025 (USD Million)
14.2 Asia-Pacific
Figure 60 Asia-Pacific: EV Battery Market Snapshot
Table 118 Asia-Pacific: EV Battery Market, by Country, 2018-2025 (Units)
Table 119 Asia-Pacific: EV Battery Market, by Country, 2018-2025 (USD Million)
14.2.1 China
14.2.1.1 Presence of Global Leaders Drive the Market in China
Table 120 China: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 121 China: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 122 China: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.2.2 Japan
14.2.2.1 Electrification of Commercial Vehicles Expected to Drive the Market
Table 123 Japan: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 124 Japan: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 125 Japan: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.2.3 India
14.2.3.1 Government Subsidies to Electric Commercial Vehicles Will Drive the Market
Table 126 India: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 127 India: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 128 India: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.2.4 South Korea
14.2.4.1 Increasing Focus on Electrifying Public Transport Will Boost the Market
Table 129 South Korea: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 130 South Korea: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 131 South Korea: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.2.5 Thailand
Table 132 Thailand: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 133 Thailand: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 134 Thailand: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.3 Europe
Figure 61 Europe: EV Battery Market Snapshot
Table 135 Europe: EV Battery Market, by Country, 2018-2025 (Units)
Table 136 Europe: EV Battery Market, by Country, 2018-2025 (USD Million)
14.3.1 France
14.3.1.1 Rise in E-Logistics Transport to Drive the Market
Table 137 France: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 138 France: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 139 France: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.3.2 Germany
14.3.2.1 Presence of Leading Companies Expected to Drive the Market
Table 140 Germany: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 141 Germany: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 142 Germany: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.3.3 Spain
14.3.3.1 Growing Commercial Vehicle Production Projected to Drive the Market
Table 143 Spain: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 144 Spain: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 145 Spain: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.3.4 Italy
14.3.4.1 Growing Advancement in EVs to Drive the Market
Table 146 Italy: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 147 Italy: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 148 Italy: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.3.5 UK
14.3.5.1 Increased Demand for Electric Public Fleets Expected to Drive the Market
Table 149 UK: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 150 UK: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 151 UK: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.3.6 Denmark
14.3.6.1 Favorable Regulations Will Drive the Market
Table 152 Denmark: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 153 Denmark: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 154 Denmark: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.3.7 Norway
14.3.7.1 Replacement of Conventional Vehicles with Advanced EVs is Expected to Drive the Market
Table 155 Norway: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 156 Norway: EV Battery Market, by Vehicle Type, 2018-2025(USD Million)
Table 157 Norway: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.3.8 Sweden
14.3.8.1 The Presence of OEMs in the Country Will Boost Demand for EV Battery
Table 158 Sweden: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 159 Sweden: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 160 Sweden: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.4 North America
Table 161 North America: EV Battery Market, by Country, 2018-2025 (Units)
Table 162 North America: EV Battery Market, by Country, 2018-2025 (USD Million)
14.4.1 US
14.4.1.1 Growing Demand for Electric Trucks in the Country Will Drive the Market
Table 163 US: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 164 US: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 165 US: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.4.2 Canada
14.4.2.1 Government Support to Promote EVs Will Drive the Market
Table 166 Canada: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 167 Canada: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 168 Canada: EV Battery Market, by Propulsion, 2018-2025 (Units)
14.4.3 Mexico
14.4.3.1 Presence of OEMs Will Drive the Market
Table 169 Mexico: EV Battery Market, by Vehicle Type, 2018-2025 (Units)
Table 170 Mexico: EV Battery Market, by Vehicle Type, 2018-2025 (USD Million)
Table 171 Mexico: EV Battery Market, by Propulsion, 2018-2025 (Units)

15 Competitive Landscape
15.1 Market Evaluation Framework
Figure 62 Market Evaluation Framework
15.2 Overview
Figure 63 Key Developments by Leading Players in the EV Battery Market
15.3 Market Share Analysis for EV Battery Market
Figure 64 Market Share Analysis, 2020
15.4 Market Ranking Analysis for EV Battery Market
Figure 65 Market Ranking Analysis, 2020
15.5 COVID-19 Impact on EV Battery Companies
15.5.1 Impact on Raw Material Supply
15.5.2 Impact on Battery Production
15.5.3 Impact due to EV Demand Slowdown
15.6 Competitive Scenario
15.6.1 New Product Developments
Table 172 New Product Developments, 2018-2020
15.6.2 Joint Ventures/Partnerships/Agreements/Collaborations, 2018-2020
Table 173 Joint Ventures/Partnerships/Agreements/Collaborations, 2018-2020
15.6.3 Mergers & Acquisitions, 2018-2020
Table 174 Mergers & Acquisitions, 2018-2020
15.6.4 Expansions, 2018-2020
Table 175 Expansions, 2018-2020
15.7 Competitive Leadership Mapping for EV Battery Market
15.7.1 Stars
15.7.2 Emerging Leaders
15.7.3 Pervasive
15.7.4 Emerging Companies
Figure 66 EV Battery Market: Competitive Leadership Mapping, 2020
15.8 Strength of Product Portfolio
Figure 67 Product Portfolio Analysis of Top Players in EV Battery Market
Figure 68 Business Strategy Excellence of Top Players in EV Battery Market
15.9 Startup/SME Evaluation Matrix, 2020
Figure 69 EV Battery Market: Startup Matrix, 2020
15.10 Winners vs. Tail-Enders
Table 176 Winners vs. Tail-Enders

16 Company Profiles
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View)*
16.1 CATL
Figure 70 CATL: Company Snapshot
16.2 Samsung SDI
Figure 71 Samsung SDI: Company Snapshot
16.3 Panasonic
Figure 72 Panasonic: Company Snapshot
16.4 LG Chem
Figure 73 LG Chem: Company Snapshot
16.5 BYD Company Limited
Figure 74 BYD Company Limited: Company Snapshot
16.6 Vehicle Energy Japan Co. Ltd. (Under Hitachi Automotive Systems, Ltd.)
Figure 75 Hitachi: Company Snapshot
16.7 Toshiba Corporation
Figure 76 Toshiba Corporation: Company Snapshot
16.8 Mitsubishi Corporation
Figure 77 Mitsubishi Corporation: Company Snapshot
16.9 Envision AESC
16.10 EnerSys
Figure 78 EnerSys: Company Snapshot
16.11 A123 Systems (Subsidiary of Wanxiang Group)
16.12 SK Innovation Co. Ltd.
Figure 79 SK Innovation Co. Ltd.: Company Snapshot
16.13 GS Yuasa
Figure 80 GS Yuasa Corporation: Company Snapshot
16.14 Other Key Regional Players
16.14.1 Asia-Pacific
16.14.1.1 Exide Industries Limited
16.14.1.2 Primearth EV Energy Co. Ltd.
16.14.1.3 Lithium Energy Japan
16.14.1.4 E-One Moli Energy Corp.
16.14.2 North America
16.14.2.1 Targray Technology International Inc.
16.14.2.2 Altair Nanotechnologies Inc.
16.14.2.3 Clarios
16.14.3 Europe
16.14.3.1 Northvolt AB
16.14.3.2 Leclanché SA
16.14.3.3 Aptiv plc
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, Analyst's View Might Not be Captured in Case of Unlisted Companies

17 Analyst's Recommendations
17.1 EV Battery Makers Need to Keep Up with Continuous Advancements in Electric Vehicles, Battery Technologies, and Charging Solutions
17.2 Japan, Korea, and India Emerging as Promising Alternatives to China for Supply of Components
17.3 Conclusion

18 Appendix
18.1 Key Insights of Industry Experts
18.2 Discussion Guide
18.3 Knowledge Store: The Subscription Portal
18.4 Available Customizations

Note: Product cover images may vary from those shown
  • A123 Systems (Subsidiary of Wanxiang Group)
  • Altair Nanotechnologies Inc.
  • Aptiv plc
  • BYD Company Limited
  • CATL
  • Clarios
  • E-One Moli Energy Corp.
  • EnerSys
  • Envision AESC
  • Exide Industries Limited
  • Freightliner
  • GS Yuasa
  • Indian Oil Corporation Limited (IOCL)
  • Kenworth
  • Leclanché SA
  • LG Chem
  • Lithium Energy Japan
  • Mitsubishi Corporation
  • Navistar
  • Northvolt AB
  • Panasonic
  • Peterbilt
  • Primearth EV Energy Co. Ltd.
  • Samsung SDI
  • SK Innovation Co. Ltd.
  • Targray Technology International Inc.
  • Tesla
  • Toshiba Corporation
  • Vehicle Energy Japan Co. Ltd. (Under Hitachi Automotive Systems, Ltd.)
Note: Product cover images may vary from those shown

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