Strategic Insights into the Global Electric Vehicle (EV) Battery Market Growth
NEW YORK, NY, December 05, 2023 /24-7PressRelease/ -- The electric vehicle (EV) battery market is expected to grow by USD 53.62 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 19.57% during the forecast period, according to Technavio. The market is segmented by type (lithium-ion battery, lead-acid battery, and others), vehicle type (battery electric vehicle, plug-in hybrid electric vehicle, and hybrid electric vehicle), and geography (APAC, Europe, North America, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the electric vehicle (EV) battery market including A123 Systems LLC, Ballard Power Systems Inc., BYD Co. Ltd., Clarios, Crown Battery Manufacturing Co., Cummins Inc., East Penn Manufacturing Co. Inc., EnerSys, Enertech International Inc., Envision Group, Exide Industries Ltd., GS Yuasa Corp., Hitachi Ltd., LG Chem Ltd., OptimumNano Energy Co. Ltd., Panasonic Holdings Corp., Samsung SDI Co. Ltd., SK Innovation Co. Ltd., Solid Power Inc., Tianneng Battery, and Zhejiang Narada Power Source Co. Ltd.
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Electric Vehicle (EV) Battery Market 2023-2027: Company Analysis
Samsungsdi - The company offers electric vehicle batteries such as lithium-ion PHEV, EV, and HEV.
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Electric Vehicle (EV) Battery Market 2023-2027: Segmentation
• The electric vehicle battery market share growth by the lithium-ion battery segment will be significant during the forecast period. Increasing demand for lithium-ion batteries from the electric vehicle sector and falling prices of battery technology are contributing to this growth. Compared to other battery technologies, lithium-ion batteries have higher current density, longer current holding periods, and longer shelf life.
• vehicle type (battery electric vehicle, plug-in hybrid electric vehicle, and hybrid electric vehicle)
• APAC is estimated to contribute 48% to the growth of the global market during the forecast period. The shift from fossil fuels to electric vehicles has been actively promoted by governments in countries such as China, Japan, India, and South Korea on the basis of targets, reforms, and incentives. R&D activities are focused on enhancing EV technology in the APAC market.
• Europe, North America, South America, and Middle East and Africa
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a Free PDF Sample Report
Electric Vehicle (EV) Battery Market 2023-2027: Key Highlights
• Historic Market Size 2017-2021
• CAGR of the market during 2023-2027
• Detailed information on factors that will assist electric vehicle (EV) battery market growth during the next five years
• Estimation of the electric vehicle (EV) battery market size and its contribution to the parent market
• Forecasts on upcoming trends and changes in consumer behavior
• The growth of the electric vehicle (EV) battery market
• Analysis of the competitive landscape and detailed information on companies
• Comprehensive details of factors that will impede the growth of electric vehicle (EV) battery market companies
The Lithium-ion Battery (LIB) Recycling Solution Market size is forecast to grow by USD 12.02 billion at a CAGR of 19.85% between 2023 and 2028.
The aqueous batteries market size is forecast to grow by USD 577.56 million at a CAGR of 25.01% between 2023 and 2028.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Vehicle Type
Market Segmentation by Geography
Drivers, Challenges, & Trends
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