P-Type Battery Global Market Report 2025

The p-type battery market size has grown rapidly in recent years. It will grow from $2.12 billion in 2024 to $2.45 billion in 2025 at a compound annual growth rate (CAGR) of 15.1%. The growth during the historic period can be attributed to increasing adoption of consumer electronics, rising demand for electric vehicles, growing investments in renewable energy storage, higher demand for high-performance power tools, and expanding deployment of smart grid technologies.

The p-type battery market size is expected to see rapid growth in the next few years. It will grow to $4.26 billion in 2029 at a compound annual growth rate (CAGR) of 14.8%. The growth projected for the forecast period can be linked to rising demand for affordable electric vehicles, increasing deployment of energy storage systems, growing investments in battery gigafactories, wider adoption of high-energy-density batteries, and expanding government subsidies for clean energy. Key trends in the forecast period include advancements in solid-state battery technology, development of cell-to-pack architectures, innovations in lithium iron phosphate chemistries, progress in silicon-based anode materials, and development of sodium-ion battery alternatives.

The rising demand for electric vehicles is expected to drive growth in the P-type battery market. Heightened environmental awareness among consumers and regulators is a key factor encouraging the shift to low-emission transportation, aligning individual purchasing decisions with sustainability goals and long-term policy objectives. P-type batteries enhance energy storage efficiency, charge retention, and overall vehicle performance, making them appealing to EV manufacturers. For example, in May 2025, the International Energy Agency, a France-based intergovernmental organization, reported that global electric vehicle sales rose from 17 million units in 2024 to over 20 million units in 2025. Consequently, the growing adoption of electric vehicles is fueling the P-type battery market.

Leading companies in the P-type battery market are focusing on innovations such as cell-to-pack architecture to improve energy density, reduce manufacturing costs, and provide EVs with longer ranges and greater affordability. Cell-to-pack architecture integrates cells directly into the battery pack, eliminating intermediate modules to maximize space utilization and reduce weight and component count. In January 2024, Molicel, a Taiwan-based lithium-ion battery manufacturer, introduced its INR-21700-P50B ultra-high-power cell at CES 2024. This high-nickel cylindrical cell delivers a 50A continuous discharge current and 4,500 mAh energy density, meeting performance demands for high-performance EVs. Through its partnership with McMurtry Automotive, Molicel is applying this technology to premium hypercars, demonstrating how advanced P-type battery solutions are enhancing power, efficiency, and market growth in the EV sector.

In June 2024, Amara Raja Advanced Cell Technologies Pvt. Ltd., an India-based battery manufacturer, partnered with GIB EnergyX Slovakia s.r.o. to license Gotion’s LFP technology for prismatic and cylindrical lithium-ion cells. The partnership enables Amara Raja to produce high-quality LFP cells, strengthen its Gigafactory operations, and expand its presence in India’s EV and energy storage markets. GIB EnergyX Slovakia s.r.o., a subsidiary of Gotion High-Tech Co. Ltd., is a China-based manufacturer specializing in lithium-ion batteries, primarily Lithium Iron Phosphate (LFP) cells utilizing P-type cathode materials.

Major players in the p-type battery market are SK On Co. Ltd., BYD Company Ltd, Contemporary Amperex Technology Co. Limited, LG Energy Solution, SAMSUNG SDI, EVE Energy Co. Ltd., Northvolt AB, Solargiga Energy Holdings Limited, A123 Systems LLC, Qcells, Padre Electronics Co.Limited, Gotion Inc, CALB, Panasonic Energy Co. Ltd., Kore Power, Lithium Werks, Valence Technology Inc., Sunwoda Electronic Co. Ltd, SVOLT Energy, Must Energy (guangdong) Tech Co. Ltd.

Asia-Pacific was the largest region in the p-type battery market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in P-type battery report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid rise in U.S. tariffs and the subsequent trade frictions in spring 2025 are having a major impact on the electrical and electronics sector, with semiconductors, display panels, and rare-earth metals (essential for batteries and motors) subject to steep duties. Consumer electronics brands face profit erosion, as competitive markets limit their ability to pass costs to buyers. Industrial electronics manufacturers, meanwhile, grapple with delayed projects due to shortages of tariff-impacted components like printed circuit boards. Companies are responding by relocating assembly to tariff-exempt countries, increasing inventory buffers, and redesigning products to reduce dependency on restricted materials.

The P-type battery market research report is one of a series of new reports that provides P-type battery market statistics, including P-type battery industry global market size, regional shares, competitors with a P-type battery market share, detailed P-type battery market segments, market trends and opportunities, and any further data you may need to thrive in the P-type battery industry. This P-type battery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

P-type batteries are a type of lithium-ion cell used for energy storage. They feature a prismatic hard-case design that ensures efficient packaging and structural stability, maximizing energy density within a battery pack, enhancing vehicle range, and improving safety. P-type batteries offer a cost-effective and reliable power source for electric vehicles and support the transition to sustainable transportation.

The main types of P-type batteries are passivated emitter and rear cell (PERC) batteries and back surface field batteries. A PERC battery is a lithium iron phosphate (LiFePO₄) cell design that improves energy density and efficiency by incorporating a passivation layer on the emitter and rear side, reducing electron recombination and enhancing overall performance. These batteries are available in form factors such as cylindrical cells, prismatic cells, pouch cells, and square cells, with capacities classified as low (up to 1,000 mAh), medium (1,000-10,000 mAh), and high (over 10,000 mAh). They are applied in consumer electronics, automotive, energy storage systems, and industrial applications, serving end users in residential, commercial, industrial, and government and defense sectors.

The countries covered in the P-type battery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The P-type battery market consists of sales of products such as prismatic LFP cells, short blade batteries, leading energy storage systems, and related battery pack solutions used primarily in electric vehicles and energy storage systems. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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