Electric vehicle (EV) battery is essentially installed in battery electric vehicles (BEV), plug-in hybrid electric vehicles, and hybrid electric vehicles (HEV). Few common product variants include nickel-metal hydride battery, lithium-ion battery and lead-acid battery. Electric vehicle batteries provide various benefits in curbing carbon emissions, minimizing fuel dependency, minimizing maintenance costs, producing high energy per unit mass, etc. Rising concerns about the harmful impacts of climatic change with the emission of fuel vehicles along with the rising pollution level recorded in major regions have surged the demand for electric vehicles. The increase in petrol and diesel prices owing to the exhaustion of fossil fuel reserves has escalated the demand for advanced fuel-efficient technologies propelling the growth of the electric vehicle battery market during the forecast period. The continuous development of lithium-ion batteries has allowed battery manufacturers to manufacture a high-performance battery which meets the requirement for lightweight vehicles, thereby driving the growth of the Electric Vehicle Battery Market. With the significant increase in the demand for energy-efficient automobiles, manufacturers are governing their investments towards the development of high-density lithium-ion batteries, and solid-state battery technology to obtain extended battery range and quick recharging. The rising automotive production in developed and developing nations such as China, Germany, South Korea, Japan, Mexico, and Taiwan, projected to foster the growth of Electric Vehicle Battery Market. The rising government investments in developing infrastructure for electric vehicles in various countries would also supplement the market growth. Apart from this, the demand supply gap of certain vital raw materials and the changing raw material prices are some of the factors which may restrain the growth of the market.

Furthermore, the rising concerns associated to reducing oil and gas resources and degrading environmental conditions by the use of conventional fuel vehicles are having a positive impact on the demand for electric powered vehicles, also contributing to the electric vehicle battery market growth. In addition, the companies are coming up with business models such as battery swapping and battery-as-a-service (BaaS) which enable users to change or swap electric vehicle batteries once discharged which provides opportunity for the electric vehicle battery market growth. This saves users the consumed time on recharging the batteries, therefore enhancing customer satisfaction and addressing one of the key reasons consumers refrain from opting for electric vehicles. 

The global Electric Vehicles Battery Market is segregated on the basis of Propulsion Type as Battery Electric Vehicle, Hybrid Electric Vehicle and Plug-in Hybrid Electric Vehicle. Based on Battery Type the global Electric Vehicles Battery Market is segmented in Lead Acid Battery, Nickel Metal Hydride Battery and Lithium ion Battery. Based on Vehicle Type the global Electric Vehicles Battery Market is segmented in Passenger Car, Commercial Vehicle and Two-Wheeler.

The global Electric Vehicles Battery Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Electric Vehicles Battery Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

ATLASBX Co., Sony, Hitachi, NEC Corporation, Panasonic Corporation, TCL Corporation and others are among the major players in the global Electric Vehicles Battery Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In August 2020, CATL declared to develop a new electric vehicle battery without any nickel or cobalt in it. The company emphasizes on saving a major portion of the cost with this development since cobalt is one of the highly expensive components.
• In March 2020, BYD introduced a blade battery system, which includes thin individual batteries. The thickness of a single battery is around 1.35 cm and takes 50% less space than previous products.
• In December 2019, Samsung SDI acquired an extra 15% share in Samsung SDI-ARN (Xi'an) Power Battery Co., Ltd (SAPB) making it the majority shareholder in the company with 65% of ownership. SAPB was at first established in 2014 by Samsung SDI Anqing Ring New Group and Xi’an Gaoke Group.

The global Electric Vehicles Battery Market has been segmented as below:

Electric Vehicles Battery Market, By Propulsion Type

• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Plug-in Hybrid Electric Vehicle

Electric Vehicles Battery Market, By Battery Type

• Lead Acid Battery
• Nickel Metal Hydride Battery
• Lithium ion Battery

Electric Vehicles Battery Market, By Vehicle Type

• Passenger Car
• Commercial Vehicle
• Two-Wheeler

Electric Vehicles Battery Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

Electric Vehicles Battery Market, By Company

• ATLASBX Co.
• Sony
• Hitachi
• NEC Corporation
• Panasonic Corporation
• TCL Corporation
• Huanyu New Energy Technology
• Duracell
• NorthStar
• Crown Battery Manufacturing
• GS Yuasa Corp
• East Penn Manufacturing Co.
• C&D Technologies, Inc.
• B.B. Battery Co., Ltd.
• Narada Power Source Co., Ltd.
• CSB Battery Company Ltd.
• EnerSys, Inc.
• Coslight Technology International Group Co., Ltd.
• Zibo Torch Energy Co., Ltd.
• A123 Systems LLC
• Ballard Power Systems Inc.
• BYD Co. Ltd.
• Crown Battery Manufacturing Co.
• Cummins Inc.
•  East Penn Manufacturing Co. Inc.
  

The report covers the below scope:

• Global Electric Vehicles Battery Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global Electric Vehicles Battery Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global Electric Vehicles Battery Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global Electric Vehicles Battery Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Electric Vehicles Battery Market share. Major industry players with significant revenue share include ATLASBX Co., Sony, Hitachi, NEC Corporation, Panasonic Corporation, TCL Corporation, Huanyu New Energy Technology, Duracell and others.

Why to Buy this Report:

• Gain detailed insights on the Electric Vehicles Battery industry trends
• Find complete analysis on the market status
• Identify the Electric Vehicles Battery Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

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