Global EV Battery Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global EV Battery Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Battery Type (Lead-acid Battery, Lithium-ion Battery, and Other Battery Types), Vehicle Type (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), and Hybrid Electric Vehicle (HEV)), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
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.