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Electric Vehicle Battery Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMAU21496

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Published on

October 2021

Total pages

286

Table of Content

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About the Report

About the Report

Governments around the world are implementing policies to promote electric vehicles to reduce oil consumption, climate-related emissions, and local air pollution and to stake out an industrial leadership position in the new advanced technology.

After a decade of rapid growth, in 2020 the global electric car stock hit the 10 million mark, a 43% increase over 2019. Battery electric vehicles (BEVs) accounted for two-thirds of new electric car registrations and two-thirds of the stock in 2020. China, with 4.5 million electric cars, has the largest fleet, though in 2020 Europe had the largest annual increase to reach 3.2 million.

Numerous factors contributed to increased electric car registrations in 2020. Notably, electric cars are gradually becoming more competitive in some countries on a total cost of ownership basis.

Several governments provided or extended fiscal incentives that buffered electric car purchases from the downturn in car markets.

Worldwide about 370 electric car models were available in 2020, a 40% increase from 2019. China has the widest offering, reflecting its less consolidated automotive sector and that it is the world's largest EV market. But in 2020 the biggest increase in number of models was in Europe where it more than doubled.

Batteries hold a significant share in electric vehicle market. For instance, battery accounts for around 30% of total electric vehicle cost. The number of schemes and incentives are provided by government to electric vehicle manufacturers which would increase the demand of electric vehicle batteries.

However, some of the restraints in the market include concerns over EV battery safety, lack of charging infrastructure, and most importantly extraction of raw material has adverse environmental effects these are some factors impeding the growth of this market all over the world.

For a better understanding of the market adoption of electric vehicle battery, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of APAC), and Rest of World. Asia Pacific constitutes the largest market for the industry in 2020 owing to the fact that China already accounts for 45% of EVs on road of the world which is 2.3 million.

Some of the major players operating in the market include Panasonic Corporation, Mitsubishi Electric Corporation, LG Chem Ltd., Samsung SDI Co., Ltd., Exide Industries Ltd., BYD Company Limited, Wanxiang Group Corporation, Contemporary Amperex Technology Co. Limited, Tianneng Power International Limited, EnerSys. Several M&A's along with partnerships have been undertaken by these players to boost their presence in different regions.

Electric Vehicle Battery Market is projected to expand significantly with a CAGR of 20% from 2021-2027F. Electric Vehicle Battery Market is expected to witness a boost on account of the increasing demand for EV's due to the friendly government policies.

Products


Companies

Panasonic Corporation, Mitsubishi Electric Corporation, LG Chem Ltd., Samsung SDI Co., Ltd., Exide Industries Ltd., BYD Company Limited, Wanxiang Group Corporation, Contemporary Amperex Technology Co. Limited, Tianneng Power International Limited, EnerSys

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Limitation

1.3. Stake Holders

1.4. Currency Used in Report

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Process of the Electric Vehicle Battery Market

2.2. Research Methodology of the Electric Vehicle Battery Market

2.3. Forecasting Method

2.4. Respondent Profile

2.5. Main Objective of the Electric Vehicle Battery Market Study

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL ELECTRIC VEHICLE BATTERY MARKET AMID COVID-19

6 GLOBAL ELECTRIC VEHICLE BATTERY MARKET REVENUE (USD BN), 2019-2027F

7 MARKET INSIGHTS BY PORPULSION TYPE

7.1. Battery Electric Vehicles (BEV)

7.1.1. Passenger Vehicles

7.1.2. Commercial Vehicles

7.2. Plug-in Hybrid Electric Vehicles (PHEV)

7.2.1. Passenger Vehicles

7.2.2. Commercial Vehicles

8 MARKET INSIGHTS BY BATTERY TYPE

8.1. Lead acid

8.2. Lithium-ion

8.3. Nickel-metal Hybrid

8.4. Solid State

9 MARKET INSIGHTS BY BATTERY CAPACITY

9.1.

9.2. >50-110kWh

9.3. >110-200kWh

9.4. >200-300kWh

9.5. >300kWh

10 MARKET INSIGHTS BY REGION

10.1. North America Electric Vehicle Battery Market

10.1.1. United States

10.1.2. Canada

10.1.3. Rest of North America

10.2. Europe Electric Vehicle Battery Market

10.2.1. Germany

10.2.2. United Kingdom

10.2.3. France

10.2.4. Spain

10.2.4. Rest of Europe

10.3. Asia-Pacific Electric Vehicle Battery Market

10.3.1. China

10.3.2. Japan

10.3.3. India

10.3.4. South Korea

10.3.5. Rest of Asia-Pacific

10.4. Rest of World Electric Vehicle Battery Market

11 ELECTRIC VEHICLE BATTERY MARKET DYNAMICS

11.1. Market Drivers

11.2. Market Challenges

11.3. Impact Analysis

12 ELECTRIC VEHICLE BATTERY MARKET OPPORTUNITIES

13 ELECTRIC VEHICLE BATTERY MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1. Demand Side Analysis

15.2. Supply Side Analysis

15.2.1. Top Product Launches

15.2.2. Top Business Partnerships

15.2.3. Top Business Expansions, Investments and Divestitures

15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1. Porter's Five Forces Analysis

17.1.1. Bargaining power of Supplier

17.1.2. Bargaining power of Buyer

17.1.3. Industry Rivalry

17.1.4. Availability of Substitute

17.1.5. Threat of new Entrants

17.2. Competitive Landscape

17.2.1. Company Shares, By Revenue

18 COMPANY PROFILED

18.1. Panasonic Corporation

18.2. Mitsubishi Electric Corporation

18.3. LG Chem Ltd.

18.4. Samsung SDI Co., Ltd.

18.5. Exide Industries Ltd.

18.6. BYD Company Limited

18.7. Wanxiang Group Corporation

18.8. Contemporary Amperex Technology Co. Limited

18.9. Tianneng Power International Limited

18.10. EnerSys

19 DISCLAIMER

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