Global EV Battery Market Size Study & Forecast by Battery Type (Lithium-Ion, Lead-Acid), Propulsion Type (BEV, PHEV), and Vehicle Type (Two-Wheeler, Passenger Cars, Buses) and Regional Forecasts 2025-2035

Description

The Global EV Battery Market is valued at approximately USD 61.31 billion in 2024 and is projected to expand at a CAGR of 22.20% over the forecast period from 2025 to 2035. EV batteries serve as the pivotal energy source for electric vehicles, storing and supplying power to drive propulsion systems efficiently. Lithium-ion and lead-acid batteries are predominantly employed in EVs, catering to diverse vehicle types such as two-wheelers, passenger cars, and buses. The surge in electric vehicle adoption, coupled with stringent government emission regulations and ongoing technological advancements in battery energy density, charging efficiency, and lifecycle management, are the primary drivers propelling the market's remarkable expansion. Furthermore, increasing consumer awareness regarding sustainable mobility solutions and the expansion of EV charging infrastructure globally continue to underpin the market growth.

The accelerating shift toward electrification of transport fleets has triggered an unprecedented demand for EV batteries across regions. Battery technologies, particularly lithium-ion, are witnessing heightened adoption due to their superior energy storage capabilities, longevity, and adaptability across vehicle categories. According to the International Energy Agency (IEA), the global electric vehicle stock surpassed 16.5 million units in 2022 and is expected to surge exponentially in the coming years. Technological breakthroughs, such as fast-charging systems, solid-state battery development, and modular battery packs, are creating lucrative opportunities for stakeholders in the EV battery ecosystem. Nonetheless, the gradual emergence of alternative propulsion solutions, including hydrogen fuel cells, and the volatility in raw material costs pose potential challenges to the market's trajectory over 2025-2035.

The detailed segments and sub-segments included in the report are:

By Battery Type:

Lithium-Ion Battery
Lead-Acid Battery

By Propulsion Type:

Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)

By Vehicle Type:

Two-Wheeler
Passenger Cars
Buses

By Region:

North America

U.S.
Canada

Europe

UK
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific

China
India
Japan
Australia
South Korea
Rest of APAC

Latin America

Brazil
Mexico

Middle East & Africa

UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

Segment Insights

Among vehicle types, passenger cars are projected to command the largest market share, reflecting the rapid electrification of the automotive sector in both developed and emerging economies. This dominance is fueled by consumer demand for sustainable, low-emission mobility solutions and government incentives favoring electric vehicle adoption. Two-wheelers and buses are also witnessing growth, especially in urban and public transport segments, driven by cost efficiency, fuel savings, and environmental regulations. While passenger cars lead in overall share, the two-wheeler segment is poised to register the fastest growth in densely populated regions due to compact size, affordability, and ease of deployment.

When segmented by battery type, lithium-ion batteries are the predominant revenue generators owing to their high energy density, longer lifecycle, and ability to support fast-charging technologies. Meanwhile, lead-acid batteries continue to find niche applications in two-wheelers and commercial fleets where cost-effectiveness is paramount. The contrasting dynamics suggest a nuanced market landscape: lithium-ion dominates in terms of performance and revenue, whereas lead-acid batteries retain a foothold due to economic advantages in specific applications.

North America accounted for the largest market share in 2025, driven by the early adoption of electric vehicles, robust charging infrastructure, and extensive R&D in battery technologies. Europe follows closely, spurred by aggressive policy frameworks promoting electrification and sustainability. The Asia Pacific region is expected to be the fastest-growing market during the forecast period, propelled by increasing urbanization, rising energy demand, supportive government initiatives, and massive investments in EV manufacturing and battery production, particularly in countries such as China and India. Latin America and the Middle East & Africa are also witnessing gradual adoption, primarily due to growing environmental consciousness and public-private collaborations to expand EV infrastructure.

Major market players included in this report are:

Panasonic Corporation
LG Energy Solution
CATL (Contemporary Amperex Technology Co., Ltd.)
Tesla, Inc.
BYD Company Ltd.
Samsung SDI Co., Ltd.
Johnson Controls International plc
SK Innovation Co., Ltd.
Hitachi Chemical Company, Ltd.
A123 Systems LLC
Toshiba Corporation
EVE Energy Co., Ltd.
VARTA AG
Northvolt AB
Envision AESC

Global EV Battery Market Report Scope:

Historical Data - 2023, 2024
Base Year for Estimation - 2024
Forecast period - 2025-2035
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players.

Key Takeaways:

Market Estimates & Forecast for 10 years from 2025 to 2035.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of the geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of the competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global EV Battery Market Report Scope & Methodology

1.1. Research Objective
1.2. Research Methodology
- 1.2.1. Forecast Model
- 1.2.2. Desk Research
- 1.2.3. Top Down and Bottom-Up Approach
1.3. Research Attributes
1.4. Scope of the Study
- 1.4.1. Market Definition
- 1.4.2. Market Segmentation
1.5. Research Assumption
- 1.5.1. Inclusion & Exclusion
- 1.5.2. Limitations
- 1.5.3. Years Considered for the Study

Chapter 2. Executive Summary

2.1. CEO/CXO Standpoint
2.2. Strategic Insights
2.3. ESG Analysis
2.4. key Findings

Chapter 3. Global EV Battery Market Forces Analysis

3.1. Market Forces Shaping The Global EV Battery Market (2024-2035)
3.2. Drivers
- 3.2.1. surge in electric vehicle adoption
- 3.2.2. stringent government emission regulations
3.3. Restraints
- 3.3.1. volatility in raw material costs
3.4. Opportunities
- 3.4.1. ongoing technological advancements in battery energy

Chapter 4. Global EV Battery Industry Analysis

4.1. Porter's 5 Forces Model
- 4.1.1. Bargaining Power of Buyer
- 4.1.2. Bargaining Power of Supplier
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Forecast Model (2024-2035)
4.3. PESTEL Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top Investment Opportunities
4.5. Top Winning Strategies (2025)
4.6. Market Share Analysis (2024-2025)
4.7. Global Pricing Analysis And Trends 2025
4.8. Analyst Recommendation & Conclusion

Chapter 5. Global EV Battery Market Size & Forecasts by Battery Type 2025-2035

5.1. Market Overview
5.2. Global EV Battery Market Performance - Potential Analysis (2025)
5.3. Lithium-Ion Battery
- 5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.3.2. Market size analysis, by region, 2025-2035
5.4. Lead-Acid Battery
- 5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.4.2. Market size analysis, by region, 2025-2035

Chapter 6. Global EV Battery Market Size & Forecasts by Propulsion Type 2025-2035

6.1. Market Overview
6.2. Global EV Battery Market Performance - Potential Analysis (2025)
6.3. Battery Electric Vehicle (BEV)
- 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.3.2. Market size analysis, by region, 2025-2035
6.4. Plug-in Hybrid Electric Vehicle (PHEV)
- 6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.4.2. Market size analysis, by region, 2025-2035

Chapter 7. Global EV Battery Market Size & Forecasts by Vehicle Type 2025-2035

7.1. Market Overview
7.2. Global EV Battery Market Performance - Potential Analysis (2025)
7.3. Two-Wheeler
- 7.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.3.2. Market size analysis, by region, 2025-2035
7.4. Passenger Cars
- 7.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.4.2. Market size analysis, by region, 2025-2035
7.5. Buses
- 7.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 7.5.2. Market size analysis, by region, 2025-2035

Chapter 8. Global EV Battery Market Size & Forecasts by Region 2025-2035

8.1. Growth EV Battery Market, Regional Market Snapshot
8.2. Top Leading & Emerging Countries
8.3. North America EV Battery Market
- 8.3.1. U.S. EV Battery Market
  - 8.3.1.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.3.1.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.3.1.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.3.2. Canada EV Battery Market
  - 8.3.2.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.3.2.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.3.2.3. Vehicle type breakdown size & forecasts, 2025-2035
8.4. Europe EV Battery Market
- 8.4.1. UK EV Battery Market
  - 8.4.1.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.4.1.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.4.1.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.4.2. Germany EV Battery Market
  - 8.4.2.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.4.2.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.4.2.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.4.3. France EV Battery Market
  - 8.4.3.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.4.3.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.4.3.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.4.4. Spain EV Battery Market
  - 8.4.4.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.4.4.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.4.4.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.4.5. Italy EV Battery Market
  - 8.4.5.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.4.5.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.4.5.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.4.6. Rest of Europe EV Battery Market
  - 8.4.6.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.4.6.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.4.6.3. Vehicle type breakdown size & forecasts, 2025-2035
8.5. Asia Pacific EV Battery Market
- 8.5.1. China EV Battery Market
  - 8.5.1.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.5.1.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.5.1.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.5.2. India EV Battery Market
  - 8.5.2.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.5.2.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.5.2.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.5.3. Japan EV Battery Market
  - 8.5.3.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.5.3.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.5.3.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.5.4. Australia EV Battery Market
  - 8.5.4.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.5.4.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.5.4.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.5.5. South Korea EV Battery Market
  - 8.5.5.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.5.5.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.5.5.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.5.6. Rest of APAC EV Battery Market
  - 8.5.6.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.5.6.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.5.6.3. Vehicle type breakdown size & forecasts, 2025-2035
8.6. Latin America EV Battery Market
- 8.6.1. Brazil EV Battery Market
  - 8.6.1.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.6.1.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.6.1.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.6.2. Mexico EV Battery Market
  - 8.6.2.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.6.2.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.6.2.3. Vehicle type breakdown size & forecasts, 2025-2035
8.7. Middle East and Africa EV Battery Market
- 8.7.1. UAE EV Battery Market
  - 8.7.1.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.7.1.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.7.1.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.7.2. Saudi Arabia (KSA) EV Battery Market
  - 8.7.2.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.7.2.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.7.2.3. Vehicle type breakdown size & forecasts, 2025-2035
- 8.7.3. South Africa EV Battery Market
  - 8.7.3.1. Battery Type breakdown size & forecasts, 2025-2035
  - 8.7.3.2. Propulsion type breakdown size & forecasts, 2025-2035
  - 8.7.3.3. Vehicle type breakdown size & forecasts, 2025-2035

Chapter 9. Competitive Intelligence

9.1. Top Market Strategies
9.2. Panasonic Corporation
- 9.2.1. Company Overview
- 9.2.2. Key Executives
- 9.2.3. Company Snapshot
- 9.2.4. Financial Performance (Subject to Data Availability)
- 9.2.5. Product/Services Port
- 9.2.6. Recent Development
- 9.2.7. Market Strategies
- 9.2.8. SWOT Analysis
9.3. LG Energy Solution
9.4. CATL (Contemporary Amperex Technology Co., Ltd.)
9.5. Tesla, Inc.
9.6. BYD Company Ltd.
9.7. Samsung SDI Co., Ltd.
9.8. Johnson Controls International plc
9.9. SK Innovation Co., Ltd.
9.10. Hitachi Chemical Company, Ltd.
9.11. A123 Systems LLC
9.12. Toshiba Corporation
9.13. EVE Energy Co., Ltd.
9.14. VARTA AG
9.15. Northvolt AB
9.16. Envision AESC