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EV Battery Market by Battery Capacity, Battery Form, Li-ion Battery Component – Global Forecast to 2025

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EV Battery Market by Battery Capacity, Battery Form, Li-ion Battery Component – Global Forecast to 2025

August 11
19:35 2022
EV Battery Market by Battery Capacity, Battery Form, Li-ion Battery Component - Global Forecast to 2025
Attractive Opporturnities in EV Battery Market
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 – Global Forecast to 2025

The report “EV Battery Market by Battery Capacity (<50, 50-110, 111-200, 201-300 and >300), Battery Form (Wire, Laser), Propulsion (BEV, PHEV, PHEV, FCEV), Battery Type, Material Type, Li-ion Battery Component, Method, Vehicle Type & Region – Global Forecast to 2025″ 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.

 Browse 178 market data Tables and 87 Figures spread through 262 Pages and in-depth TOC on “EV Battery Market”

The growth of the EV battery market can be attributed to the increasing demand of electric vehicles, improvement in battery technology, supporting government policies and regulations, and launch of new plug-in EV models.

Market Dynamics:

Driver: Launch of new plug-in models by major EV manufacturers

The electric vehicle market is witnessing exponential growth across geographies. Thus, major automobile manufacturers are entering the EV market due to the growing demand for EVs. Several major automakers such as Toyota, Tata Motors, Mercedes-Benz, and Hyundai are working on EV models to expand their position in the automotive industry. With major automakers taking an interest in the EV space, developments in electric vehicles are expected to increase in the near future.

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Opportunity: Introduction of the battery-as-a-service model (BaaS)

Companies are coming up with business models like battery swapping and battery-as-a-service (BaaS) that allow users to change/swap EV batteries once discharged. This saves users the time spent on recharging the batteries, thereby improving customer satisfaction and addressing one of the main reasons consumers refrain from opting for EVs.

Several Chinese EV battery manufacturers, such as NIO, follow the BaaS model that de-couples the battery from the EV. The BaaS model enables EV owners to rent battery services monthly instead of buying a battery with the EV. The model has two major advantages: consumers can save money on battery cost, and they do not have to worry about battery depreciation. Such models benefit both, consumers and manufacturers, as manufacturers can accurately predict the market size and potential by tying up with companies providing battery-as-a-service models.

Asia pacific is expected to be the largest EV battery market in the forecast

Countries such as China, Japan, India, South Korea, and Thailand are considered under Asia Pacific for market analysis. China is the largest contributor to the global market, accounting for a share of more than 95%. Chinese companies such as Panasonic, LG, Chem, Samsung, CATL, and BYD are dominating both the Chinese and global EV battery market. Chinese EV manufacturers, who have access to cheaper parts and components, are providing electric vehicles at lower prices.

Europe is expected to be the fastest-growing market during the forecast

Countries such as Germany, France, Spain, UK, Italy, Norway, Sweden, and Denmark are considered under Europe for market analysis. The presence of OEMs such as VDL Groep (Netherlands) and AB Volvo (Sweden) offers opportunities for the growth of the EV battery market in the region. The increasingly stringent regulations related to environmental issues are propelling market players to test and develop advanced vehicles, which will further boost the market for advanced battery technologies. For example, Brexit deal creates an opportunity for Nissan to expand the business operations at its Sunderland plant. In return, the Japanese OEMs is even investing in the UK and other European countries. Nissan is interested to build additional battery production capacity in Sunderland. In September 2020, Mercedes-Benz, a subsidiary of Daimler AG, introduced its new all-electric eCitaro G, optionally equipped with innovative solid-state batteries. In December 2019, Volvo Trucks, a subsidiary of AB Volvo, developed heavy-duty electric concept trucks for construction operations and regional distribution.

The laser bonding segment is expected to be the largest EV method in the forecast

The laser bonding method is expected to lead the EV battery market during the forecast period. This method is mostly preferred due to its non-contact process that enables welding of dissimilar materials with high precision. Laser bonding is considered a reliable technology to connect battery cells and achieve fast production of battery pack conductive joints.

Key Market Players:

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).

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