EV Battery Market Size Worth $225.55 Billion By 2030 | CAGR: 18.9%

The global EV battery market size is expected to reach USD 225.55 billion by 2030, according to a new study by Polaris Market Research. The report “EV Battery Market Share, Size, Trends, Industry Analysis Report, By Method (Wire Bonding, Laser Bonding); By Battery; By Propulsion; By Vehicle; By Battery Capacity; By Battery Form; By Material; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.

The growing demand for EV battery in the automotive sector is due to the depletion of fossil fuel, increasing fuel prices, and pollution regulation is expected to drive industry growth. Furthermore, collaborations of many battery manufacturers, energy suppliers, and e-mobility providers is anticipated to boost the sales of EV batteries.

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In addition, the growing demand for electric vehicles owing to increasing government initiatives to encourage consumers to adopt electric vehicles to reduce carbon emissions across developed and developing economies, is likely to positively impact the demand for the product over the coming years. Moreover, the government providing incentives on tax for purchasing BEVs and PHEVs is supporting the market growth.

The COVID-19 pandemic had a significant impact on the demand for the EV battery market, as, during the pandemic, the extraction of raw material for the production of EV batteries was hampered, which disrupted the supply chain. However, as industrial activities resumed in 2021, the demand for EV batteries rose on account of decreasing battery prices and increasing fuel prices, which positively impacted product demand.

EV Battery Market Report Highlights

• Growing demand for lithium-ion batteries is increasing owing to better performance, high energy efficiency, and ability to operate under high-temperature that is expected to drive product demand
• The passenger car accounted for the highest revenue share and is expected to continue its dominance owing to growing awareness of zero-emission vehicles and the shifting lifestyles of consumers from conventional to sustainable energy sources
• Pouch cell is expected to lead the market growth as it provides maximum packaging efficiency and is less expensive. In addition, a solid-state battery is only possible with pouch cells which drives the segment growth.
• Asia Pacific is expected to grow over the forecast period on account of several government programs to encourage the adoption of electric vehicles and growing tax incentives for buying EVs across developing nations in the region, such as India, Japan, and China

• Major players operating in the industry include Atlasbx Co. Ltd., Bb Battery Co., BYD Company Ltd., C&D Technologies, Inc., Contemporary Ampere Technology Co., Ltd, Crown Battery Manufacturing, Duracell, East Penn Manufacturing Company, Enersys, Inc., EV Battery Market, Exide Industries Limited, GS Yuasa Corp., Hitachi Chemical Co., Ltd, Huanyu New Energy Technology, LG Chem, and Narada Power Source Co.

Polaris Market Research has segmented the EV battery market report based on battery, propulsion, vehicle, method, battery capacity, material, region

EV Battery, Battery Outlook (Revenue - USD Billion, 2018 - 2030)

• Lead-Acid
• Lithium-Ion
  • Positive Electrode
  • Negative Electrode
  • Electrolyte
  • Separator
• Nickel-Metal Hydride
• Sodium-Ion
• Solid-State

EV Battery, Propulsion Outlook (Revenue - USD Billion, 2018 - 2030)

• BEV
• HEV
• PHEV
• FCEV

EV Battery, Vehicle Outlook (Revenue - USD Billion, 2018 - 2030)

• Passenger Cars
• Vans/Light Trucks
• Medium & Heavy Trucks
• Buses
• Off-Highway Vehicles

EV Battery, Method Outlook (Revenue - USD Billion, 2018 - 2030)

• Wire Bonding
• Laser Bonding

EV Battery, Battery Capacity Outlook (Revenue - USD Billion, 2018 - 2030)

• 5o kWh
• 50-11o kWh
• 11-200 kWh
• 201-300 kWh
• >300 kWh

EV Battery, Battery Form Outlook (Revenue - USD Billion, 2018 - 2030)

• Prismatic
• Cylindrical
• Pouch

EV Battery, Material Outlook (Revenue - USD Billion, 2018 - 2030)

• Lithium
• Cobalt
• Manganese
• Natural Graphite

EV battery, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa