Global Electric Vehicle (EV) Battery Market 2023-2027

Description

List of Tables

Technavio has been monitoring the electric vehicle (EV) battery market and is forecast to grow by USD 53626.86 mn during 2022-2027, accelerating at a CAGR of 19.57% during the forecast period. Our report on the electric vehicle (EV) battery market provides a holistic analysis, market size, and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for EVs and their expanded applications, the shift of the automotive industry toward EVs, and advances in EV batteries and associated technologies.

Technavio's electric vehicle (EV) battery market is segmented as below:

By Type

Lithium-ion battery
Lead-acid battery
Others

By Vehicle Type

Battery electric vehicle
Plug-in hybrid electric vehicle
Hybrid electric vehicle

By Geography

APAC
Europe
North America
South America
Middle East and Africa

This study identifies the increasing use of software and sensors for intelligent BMS as one of the prime reasons driving the electric vehicle (EV) battery market growth during the next few years. Also, EV charging with V2G technology and revision in safety standards of lithium-ion batteries will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the electric vehicle (EV) battery market covers the following areas:

Electric vehicle (EV) battery market sizing
Electric vehicle (EV) battery market forecast
Electric vehicle (EV) battery market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric vehicle (EV) battery market vendors that include 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.. Also, the electric vehicle (EV) battery market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR43129

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market by Geography
Exhibit 05: Executive Summary - Chart on Market Segmentation by Type
Exhibit 06: Executive Summary - Chart on Market Segmentation by Vehicle Type
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global electric vehicle (EV) battery market 2017 - 2021
Exhibit 18: Historic Market Size - Data Table on Global electric vehicle (EV) battery market 2017 - 2021 ($ million)
4.2 By Type Segment Analysis 2017 - 2021
Exhibit 19: Historic Market Size - By Type Segment 2017 - 2021 ($ million)
4.3 By Vehicle Type Segment Analysis 2017 - 2021
Exhibit 20: Historic Market Size - By Vehicle Type Segment 2017 - 2021 ($ million)
4.4 Geography Segment Analysis 2017 - 2021
Exhibit 21: Historic Market Size - Geography Segment 2017 - 2021 ($ million)
4.5 Country Segment Analysis 2017 - 2021
Exhibit 22: Historic Market Size - Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2022 and 2027
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2022 and 2027
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2022 and 2027
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2022 and 2027
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2022 and 2027
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

6.1 Market segments
Exhibit 30: Chart on Type - Market share 2022-2027 (%)
Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
6.2 Comparison by Type
Exhibit 32: Chart on Comparison by Type
Exhibit 33: Data Table on Comparison by Type
6.3 Lithium-ion battery - Market size and forecast 2022-2027
Exhibit 34: Chart on Lithium-ion battery - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Lithium-ion battery - Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Lithium-ion battery - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Lithium-ion battery - Year-over-year growth 2022-2027 (%)
6.4 Lead-acid battery - Market size and forecast 2022-2027
Exhibit 38: Chart on Lead-acid battery - Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on Lead-acid battery - Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on Lead-acid battery - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Lead-acid battery - Year-over-year growth 2022-2027 (%)
6.5 Others - Market size and forecast 2022-2027
Exhibit 42: Chart on Others - Market size and forecast 2022-2027 ($ million)
Exhibit 43: Data Table on Others - Market size and forecast 2022-2027 ($ million)
Exhibit 44: Chart on Others - Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on Others - Year-over-year growth 2022-2027 (%)
6.6 Market opportunity by Type
Exhibit 46: Market opportunity by Type ($ million)
Exhibit 47: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by Vehicle Type

7.1 Market segments
Exhibit 48: Chart on Vehicle Type - Market share 2022-2027 (%)
Exhibit 49: Data Table on Vehicle Type - Market share 2022-2027 (%)
7.2 Comparison by Vehicle Type
Exhibit 50: Chart on Comparison by Vehicle Type
Exhibit 51: Data Table on Comparison by Vehicle Type
7.3 Battery electric vehicle - Market size and forecast 2022-2027
Exhibit 52: Chart on Battery electric vehicle - Market size and forecast 2022-2027 ($ million)
Exhibit 53: Data Table on Battery electric vehicle - Market size and forecast 2022-2027 ($ million)
Exhibit 54: Chart on Battery electric vehicle - Year-over-year growth 2022-2027 (%)
Exhibit 55: Data Table on Battery electric vehicle - Year-over-year growth 2022-2027 (%)
7.4 Plug-in hybrid electric vehicle - Market size and forecast 2022-2027
Exhibit 56: Chart on Plug-in hybrid electric vehicle - Market size and forecast 2022-2027 ($ million)
Exhibit 57: Data Table on Plug-in hybrid electric vehicle - Market size and forecast 2022-2027 ($ million)
Exhibit 58: Chart on Plug-in hybrid electric vehicle - Year-over-year growth 2022-2027 (%)
Exhibit 59: Data Table on Plug-in hybrid electric vehicle - Year-over-year growth 2022-2027 (%)
7.5 Hybrid electric vehicle - Market size and forecast 2022-2027
Exhibit 60: Chart on Hybrid electric vehicle - Market size and forecast 2022-2027 ($ million)
Exhibit 61: Data Table on Hybrid electric vehicle - Market size and forecast 2022-2027 ($ million)
Exhibit 62: Chart on Hybrid electric vehicle - Year-over-year growth 2022-2027 (%)
Exhibit 63: Data Table on Hybrid electric vehicle - Year-over-year growth 2022-2027 (%)
7.6 Market opportunity by Vehicle Type
Exhibit 64: Market opportunity by Vehicle Type ($ million)
Exhibit 65: Data Table on Market opportunity by Vehicle Type ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 67: Chart on Market share by geography 2022-2027 (%)
Exhibit 68: Data Table on Market share by geography 2022-2027 (%)
9.2 Geographic comparison
Exhibit 69: Chart on Geographic comparison
Exhibit 70: Data Table on Geographic comparison
9.3 APAC - Market size and forecast 2022-2027
Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)
9.4 Europe - Market size and forecast 2022-2027
Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)
9.5 North America - Market size and forecast 2022-2027
Exhibit 79: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 80: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 81: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 82: Data Table on North America - Year-over-year growth 2022-2027 (%)
9.6 South America - Market size and forecast 2022-2027
Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)
9.7 Middle East and Africa - Market size and forecast 2022-2027
Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
9.8 China - Market size and forecast 2022-2027
Exhibit 91: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 92: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)
9.9 US - Market size and forecast 2022-2027
Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)
9.10 Norway - Market size and forecast 2022-2027
Exhibit 99: Chart on Norway - Market size and forecast 2022-2027 ($ million)
Exhibit 100: Data Table on Norway - Market size and forecast 2022-2027 ($ million)
Exhibit 101: Chart on Norway - Year-over-year growth 2022-2027 (%)
Exhibit 102: Data Table on Norway - Year-over-year growth 2022-2027 (%)
9.11 Germany - Market size and forecast 2022-2027
Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)
9.12 Japan - Market size and forecast 2022-2027
Exhibit 107: Chart on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 108: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 109: Chart on Japan - Year-over-year growth 2022-2027 (%)
Exhibit 110: Data Table on Japan - Year-over-year growth 2022-2027 (%)
9.13 Market opportunity by geography
Exhibit 111: Market opportunity by geography ($ million)
Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 113: Impact of drivers and challenges in 2022 and 2027
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 115: Overview on factors of disruption
11.4 Industry risks
Exhibit 116: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 117: Vendors covered
12.2 Market positioning of vendors
Exhibit 118: Matrix on vendor position and classification
12.3 A123 Systems LLC
Exhibit 119: A123 Systems LLC - Overview
Exhibit 120: A123 Systems LLC - Product / Service
Exhibit 121: A123 Systems LLC - Key offerings
12.4 Ballard Power Systems Inc.
Exhibit 122: Ballard Power Systems Inc. - Overview
Exhibit 123: Ballard Power Systems Inc. - Product / Service
Exhibit 124: Ballard Power Systems Inc. - Key news
Exhibit 125: Ballard Power Systems Inc. - Key offerings
12.5 BYD Co. Ltd.
Exhibit 126: BYD Co. Ltd. - Overview
Exhibit 127: BYD Co. Ltd. - Business segments
Exhibit 128: BYD Co. Ltd. - Key news
Exhibit 129: BYD Co. Ltd. - Key offerings
Exhibit 130: BYD Co. Ltd. - Segment focus
12.6 Clarios
Exhibit 131: Clarios - Overview
Exhibit 132: Clarios - Product / Service
Exhibit 133: Clarios - Key news
Exhibit 134: Clarios - Key offerings
12.7 Crown Battery Manufacturing Co.
Exhibit 135: Crown Battery Manufacturing Co. - Overview
Exhibit 136: Crown Battery Manufacturing Co. - Product / Service
Exhibit 137: Crown Battery Manufacturing Co. - Key offerings
12.8 Cummins Inc.
Exhibit 138: Cummins Inc. - Overview
Exhibit 139: Cummins Inc. - Business segments
Exhibit 140: Cummins Inc. - Key offerings
Exhibit 141: Cummins Inc. - Segment focus
12.9 EnerSys
Exhibit 142: EnerSys - Overview
Exhibit 143: EnerSys - Business segments
Exhibit 144: EnerSys - Key news
Exhibit 145: EnerSys - Key offerings
Exhibit 146: EnerSys - Segment focus
12.10 Enertech International Inc.
Exhibit 147: Enertech International Inc. - Overview
Exhibit 148: Enertech International Inc. - Product / Service
Exhibit 149: Enertech International Inc. - Key offerings
12.11 Exide Industries Ltd.
Exhibit 150: Exide Industries Ltd. - Overview
Exhibit 151: Exide Industries Ltd. - Product / Service
Exhibit 152: Exide Industries Ltd. - Key offerings
12.12 GS Yuasa Corp.
Exhibit 153: GS Yuasa Corp. - Overview
Exhibit 154: GS Yuasa Corp. - Business segments
Exhibit 155: GS Yuasa Corp. - Key news
Exhibit 156: GS Yuasa Corp. - Key offerings
Exhibit 157: GS Yuasa Corp. - Segment focus
12.13 LG Chem Ltd.
Exhibit 158: LG Chem Ltd. - Overview
Exhibit 159: LG Chem Ltd. - Business segments
Exhibit 160: LG Chem Ltd. - Key news
Exhibit 161: LG Chem Ltd. - Key offerings
Exhibit 162: LG Chem Ltd. - Segment focus
12.14 OptimumNano Energy Co. Ltd.
Exhibit 163: OptimumNano Energy Co. Ltd. - Overview
Exhibit 164: OptimumNano Energy Co. Ltd. - Product / Service
Exhibit 165: OptimumNano Energy Co. Ltd. - Key offerings
12.15 Panasonic Holdings Corp.
Exhibit 166: Panasonic Holdings Corp. - Overview
Exhibit 167: Panasonic Holdings Corp. - Business segments
Exhibit 168: Panasonic Holdings Corp. - Key news
Exhibit 169: Panasonic Holdings Corp. - Key offerings
Exhibit 170: Panasonic Holdings Corp. - Segment focus
12.16 Samsung SDI Co. Ltd.
Exhibit 171: Samsung SDI Co. Ltd. - Overview
Exhibit 172: Samsung SDI Co. Ltd. - Business segments
Exhibit 173: Samsung SDI Co. Ltd. - Key news
Exhibit 174: Samsung SDI Co. Ltd. - Key offerings
Exhibit 175: Samsung SDI Co. Ltd. - Segment focus
12.17 Zhejiang Narada Power Source Co. Ltd.
Exhibit 176: Zhejiang Narada Power Source Co. Ltd. - Overview
Exhibit 177: Zhejiang Narada Power Source Co. Ltd. - Business segments
Exhibit 178: Zhejiang Narada Power Source Co. Ltd. - Key offerings
Exhibit 179: Zhejiang Narada Power Source Co. Ltd. - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 180: Inclusions checklist
Exhibit 181: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 182: Currency conversion rates for US$
13.4 Research methodology
Exhibit 183: Research methodology
Exhibit 184: Validation techniques employed for market sizing
Exhibit 185: Information sources
13.5 List of abbreviations
Exhibit 186: List of abbreviations