EV Battery Market Growth, Share, Trends Analysis under Segmentation, Business Challenges and Forecast 2030: Markntel Advisors

Exploring the EV Battery Market: Insights, Key Drivers, and Major Players

Introduction to the EV Battery Market

A rechargeable battery that is utilized to power several electric vehicles is termed an electric vehicle (EV) battery. It converts chemical energy contained within its active materials directly into electric energy, utilizing an electrochemical oxidation-reduction (redox) reaction.

EV Battery Key market insights include:

Market Size and Growth: The Global EV Battery Market size was valued at USD 132.5 billion in 2023 & is projected to reach USD 495.6 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 14.4% during the forecast period, i.e., 2024-30.

Regional Analysis: North America, South America, Europe, Asia-Pacific, Middle East & Africa.

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What is driving the growth of the global EV Battery Market market?

Rising Government Initiatives Promoting EV Adoption Among Consumers –

The surging government policies & plans towards adopting alternative fuel vehicles worldwide are emerging as a significant driving factor in the EV battery industry. Conventional vehicles running on fossil fuels have been a pivotal source of GHG emissions. Moreover, the global CO2 emissions due to transportation activities grew by more than 250Mt CO2 to nearly 8Gt CO2 in 2022 making the transport sector a major contributor to overall emissions. Hence, official authorities across the globe have been trying to reduce the emission rates by providing subsidies, incentives, and tax reductions on electric automobiles. Countries like Thailand, India, Germany, the US, etc., have offered subsidies and financial incentives such as value-added tax (VAT) and exemptions from car registration taxes for higher EV Adoption.

Market Segmentation

The EV Battery Market can be segmented based on several criteria, including:

By Battery Type

-Lithium-Ion- Market Size & Forecast 2019-2030F, (Thousand Units)

-Lead-Acid- Market Size & Forecast 2019-2030F, (Thousand Units)

-Nickel-Metal Hydride- Market Size & Forecast 2019-2030F, (Thousand Units)

-Others (Sodium Ion, Solid-State)- Market Size & Forecast 2019-2030F, (Thousand Units)

By Battery Capacity

-<50 KWh- Market Size & Forecast 2019-2030F, (Thousand Units)

-50-110 KWh- Market Size & Forecast 2019-2030F, (Thousand Units)

-111-200 KWh- Market Size & Forecast 2019-2030F, (Thousand Units)

-201-300 KWh- Market Size & Forecast 2019-2030F, (Thousand Units)

->300 KWh- Market Size & Forecast 2019-2030F, (Thousand Units)

By Battery Form

-Prismatic- Market Size & Forecast 2019-2030F, (Thousand Units)

-Pouch- Market Size & Forecast 2019-2030F, (Thousand Units)

-Cylindrical - Market Size & Forecast 2019-2030F, (Thousand Units)

By Propulsion Type

-Battery Electric Vehicle (BEV)- Market Size & Forecast 2019-2030F, (Thousand Units)

-Plug-In Hybrid Electric Vehicle (PHEV)- Market Size & Forecast 2019-2030F, (Thousand Units)

-Fuel-Cell Electric Vehicle- Market Size & Forecast 2019-2030F, (Thousand Units)

-Hybrid Vehicle- Market Size & Forecast 2019-2030F, (Thousand Units)

By Vehicle Type

-Two-wheeler- Market Size & Forecast 2019-2030F, USD Million

-Passenger Cars- Market Size & Forecast 2019-2030F, USD Million

-Commercial Vehicles- Market Size & Forecast 2019-2030F, USD Million

-Vans/Light Trucks- Market Size & Forecast 2019-2030F, USD Million

-Medium & Heavy Trucks- Market Size & Forecast 2019-2030F, USD Million

-Buses- Market Size & Forecast 2019-2030F, USD Million

-Off-Highway Vehicles- Market Size & Forecast 2019-2030F, USD Million

By Method

-Wire Bonding- Market Size & Forecast 2019-2030F, (Thousand Units)

-Laser Bonding- Market Size & Forecast 2019-2030F, (Thousand Units)

-Ultrasonic Bonding

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Key Players in the EV Battery Market

The EV Battery Market is highly competitive, with several key players dominating the landscape. These companies are investing heavily in research and development to stay ahead of the competition and meet the evolving needs of their customers. Some of the prominent players in the EV Battery Market include:

• Contemporary Amperex Technology Co.
• Limited
• LG Energy Solutions
• BYD Company Limited
• Panasonic Corporation
• Toshiba Corporation
• Mitsubishi Corporation
• Enersys
• Others

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Questions Addressed in this Study

1.What factors are driving the EV Battery Market growth?

2.How is the EV Battery Market expected to grow over the next five years?

3.What are the key insights into the current trends in the EV Battery Market?

4.What is the current size of the EV Battery Market, and how is it projected to change in the future?

6.What is the future outlook for the EV Battery Market in terms of technological advancements and market expansion?

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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.

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