PUBLISHER: The Business Research Company | PRODUCT CODE: 1730845
PUBLISHER: The Business Research Company | PRODUCT CODE: 1730845
Electric vehicle (EV) battery cell and pack materials refer to the various components and substances used in manufacturing battery cells and packs that power electric vehicles. These materials play a crucial role in ensuring the battery system's performance, energy efficiency, and safety, which are essential for the operation of electric vehicles.
The primary battery types of electric vehicle (EV) battery cell and pack materials include battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs). A battery electric vehicle (BEV) operates exclusively on electricity, utilizing a rechargeable battery pack to power an electric motor. The key cell materials used in these batteries include lithium-ion, lead-acid, nickel-metal hydride, ultracapacitors, and sodium-ion batteries. These materials are applied across various sectors, including electric vehicles, energy storage, consumer electronics, and industrial applications.
The electric vehicle (EV) battery cell and pack materials market research report is one of a series of new reports from The Business Research Company that provides electric vehicle (EV) battery cell and pack materials market statistics, including the electric vehicle (EV) battery cell and pack materials industry global market size, regional shares, competitors with the electric vehicle (EV) battery cell and pack materials market share, detailed electric vehicle (EV) battery cell and pack materials market segments, market trends, and opportunities, and any further data you may need to thrive in the electric vehicle (EV) battery cell and pack materials industry. These electric vehicle (EV) battery cell and pack materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The electric vehicle (EV) battery cell and pack materials market size has grown rapidly in recent years. It will grow from $16.75 billion in 2024 to $19.36 billion in 2025 at a compound annual growth rate (CAGR) of 15.6%. The growth during the historic period can be attributed to increasing electric vehicle sales, rising environmental concerns, growing consumer preference for longer battery lifespan, expanding automotive production, and the increased use of lightweight materials in automobiles.
The electric vehicle (EV) battery cell and pack materials market size is expected to see rapid growth in the next few years. It will grow to $34.10 billion in 2029 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period is expected to be driven by a stronger focus on developing more efficient and high-performance batteries, rising investments in lithium-ion battery capacity, increasing adoption of high-energy-density battery chemistries, expanding efforts in battery recycling, and greater investment in research and development. Key trends anticipated in this period include a shift toward sustainability and green energy, innovations in battery technology, strategic collaborations between battery manufacturers, advancements in fast-charging battery technologies, and ongoing technological progress.
The surge in global automobile production is expected to drive the growth of the electric vehicle (EV) battery cell and pack materials market. Automobile production refers to the process of designing, manufacturing, and assembling various motor vehicles, including passenger cars, commercial trucks, and other transport vehicles. This rise in automobile production is fueled by increasing consumer demand, rapid advancements in manufacturing technologies, and government policies that support the industry. As more people can afford vehicles, the growing consumer demand encourages manufacturers to ramp up production to meet the expanding market, thus boosting overall automobile production. The increase in EV production is spurring innovation in battery technologies, prompting manufacturers to invest in more efficient and effective battery materials to meet the higher energy needs of electric vehicles. For example, in 2023, the global automotive industry saw significant growth, with production rising to 93.55 million units from 85.02 million in 2022, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA). This surge in automobile production is directly driving the growth of the EV battery cell and pack materials market.
Key players in the EV battery cell and pack materials market are focusing on advancing technologies such as LFP (lithium iron phosphate) to improve battery safety, longevity, and cost-effectiveness. LFP technology is known for its high safety, long lifespan, thermal stability, and cost-efficiency, making it ideal for electric vehicles and energy storage applications. For example, in August 2023, Contemporary Amperex Technology Co. Limited (CATL), a China-based battery manufacturer, launched Shenxing, the world's first 4C superfast charging LFP battery. This battery enables electric vehicles to achieve a 400 km range with just a 10-minute charge and offers over 700 km on a full charge, addressing concerns around charging speed and making EVs more practical for daily use. Shenxing uses advanced LFP technology to enhance safety, efficiency, and battery lifespan, marking a significant advancement in fast-charging solutions for the electric vehicle sector.
In May 2022, EV Metals Group plc, an Australia-based mining and battery materials company, acquired Johnson Matthey's battery materials division for $63 million. This acquisition enables EV Metals to strengthen its position in the battery materials supply chain by gaining access to advanced battery technologies and essential raw materials, supporting the growing demand for EV batteries and energy storage solutions. Johnson Matthey plc, based in the UK, is involved in the electric vehicle battery sector, particularly focusing on battery materials and systems.
Major players in the electric vehicle (ev) battery cell and pack materials market are Ford Motor Company, BYD Company Limited, Panasonic Industry Co. Ltd., SK Innovation Co. Ltd., Contemporary Amperex Technology Co. Ltd., LG Chem Ltd., EVE Energy Co. Ltd., Gotion High-Tech Co. Ltd., Envision AESC Group Ltd., Samsung SDI Co. Ltd., Northvolt AB, QuantumScape Corporation, Farasis Energy (Ganzhou) Co. Ltd., Microvast Holdings Inc., ProLogium Technology Co. Ltd., Grepow Battery Co. Ltd., China Aviation Lithium Battery Co. Ltd., Solid Power Inc., StoreDot Ltd., Imperium3 (iM3) Consortium, Amperex Technology Limited (ATL), SVOLT Energy Technology Co. Ltd.
Asia-Pacific was the largest region in the electric vehicle (EV) battery cell and pack materials market in 2024. The regions covered in electric vehicle (EV) battery cell and pack materials report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the electric vehicle (EV) battery cell and pack materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electric vehicle (EV) battery cell and pack materials market consists of sales of cathode materials, anode materials, electrolytes, separators, casings, and battery management components. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electric Vehicle (EV) Battery Cell And Pack Materials Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electric vehicle (ev) battery cell and pack materials market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electric vehicle (ev) battery cell and pack materials ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric vehicle (ev) battery cell and pack materials market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.