Market Overview

The Global EV Battery Market was valued at USD 54,121.4 million in 2023 and is expected to reach USD 250,335.4 million by 2031 while growing at a CAGR of 21.1% during the forecast period (2024-2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global EV battery market growth. An Electric Vehicle (EV) Battery, a rechargeable energy storage system, is a critical component powering electric vehicles. Its development and improvement significantly contribute to advancing and increasing the adoption of electric vehicles.

Increasing environmental concerns and emission reduction targets, coupled with ongoing advancements in battery technology, drive the growth of the EV battery market. However, obstacles like the high initial cost of electric vehicles and supply chain issues, including raw material availability, may hinder market expansion.

Furthermore, the global EV battery industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Battery Type Analysis

The Global EV Battery Market is segmented among Lead-acid Battery, Lithium-ion Battery, and Other Battery Types, based on Battery Type. In 2023, Lithium-ion Battery accounted for the majority of the market share*.

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Vehicle Type Analysis

The Global EV Battery Market is segmented among Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), and Hybrid Electric Vehicle (HEV), based on Vehicle Type. In 2023, Battery Electric Vehicle (BEV) accounted for the majority of the market share*.

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global EV Battery Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while Europe is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are Panasonic Corporation, LG Energy Solution Ltd, Contemporary Amperex Technology Co. Ltd, Samsung SDI Co. Ltd, BYD Co. Ltd, Narada Power Source Co. Ltd, East Penn Manufacturing Company, GS Yuasa Corporation, Clarios, and Hitachi Ltd.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global EV Battery Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global EV Battery Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global EV Battery Market Segmentation, By Battery Type   

• Global EV Battery Market Share Analysis, By Battery Type   

• Global EV Battery Market Growth Analysis, By Battery Type   

• Global EV Battery Market Trends, By Battery Type   

o Lead-acid Battery

o Lithium-ion Battery

o Other Battery Types

6. Global EV Battery Market Segmentation, By Vehicle Type

• Global EV Battery Market Share Analysis, By Vehicle Type  

• Global EV Battery Market Growth Analysis, By Vehicle Type

• Global EV Battery Market Trends, By Vehicle Type

o Battery Electric Vehicle (BEV)

o Plug-in Hybrid Electric Vehicle (PHEV)

o Hybrid Electric Vehicle (HEV)

7. Global EV Battery Market Segmentation, By Region

• Global EV Battery Market Share Analysis, By Region

• Global EV Battery Market Growth Analysis, By Region

• Global EV Battery Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

8. Competitive Landscape

• Panasonic Corporation*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• LG Energy Solution Ltd

• Contemporary Amperex Technology Co. Ltd

• Samsung SDI Co. Ltd

• BYD Co. Ltd

• Narada Power Source Co. Ltd

• East Penn Manufacturing Company

• GS Yuasa Corporation

• Clarios

• Hitachi Ltd

 *Similar analysis will be provided for each company listed above.