Market by Vehicle Type, Battery Type, End-user, and Geography | Forecast 2021-2028
After a detailed analysis, Triton Market Research’s report has concluded that the global electric vehicle battery market is expected to witness an upward trend at a CAGR of 17.66% during the forecasting years 2021 to 2028. In 2020, the market accounted for $24.64 billion and is anticipated to reach $94.35 billion by 2028.
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Electric Vehicle batteries encompass traction
batteries that power various electric vehicles, including battery, hybrid, and
plug-in hybrid electric vehicles. With
the increased demand for EVs, the electric vehicle battery market is expected
to gain significant traction. Moreover, several companies are building
gigafactories to streamline the EV manufacturing process and gain economies.
The electric vehicle battery market report from
Triton gives a detailed analysis of key insights, Porter’s five forces
analysis, market attractiveness matrix, vendor scorecard, industry components,
technology analysis, raw material analysis, key market strategies, and impact
of COVID-19 on the market.
The
studied market is driven by growth in the electric vehicles sector,
governmental incentives and promotion, battery technology developments, and
public charging infrastructure growth. In 2020, the market for electric
vehicles grew by 39%. Further, governments are promoting the electric vehicle
industry to reduce environmental degradation. Besides, with IPCC’s
(Intergovernmental Panel on Climate Change) latest assessment report (AR6)
warnings, the electric vehicles industry is likely to grow in the near future.
Additionally, top automotive OEMs are investing in the EV industry and laying
out strategies to shift towards electric vehicle manufacturing. Moreover, the
high growth of public charging infrastructure is another factor influencing the
demand for electric vehicles, driving the electric vehicle battery market.
Furthermore,
the emergence of shared e-mobility and technological improvements in
vehicle-to-grid technologies generate new market opportunities. Presently,
electric vehicle sharing services are witnessing rapid expansion globally,
owing to increased vehicle ownership costs and stringent government norms on
vehicular emission. Moreover, due to the rise in run-time and improved
utilization of operational hours for shared e-mobility drivers, demand for
electric vehicle battery swapping is increasing, providing lucrative
opportunities for the reviewed market’s growth.
Conversely, issues in raw material procurement, high charging time for batteries, and safety concerns are major restraints impacting the market. The key raw materials such as Lithium, Cobalt, Nickel are rare, creating supply chain constraints. Moreover, the development of mining sites takes around 10-15 years. Hence, the supply chain constraint will continue to hamper the market’s growth till the new sites start production.
Major geographies covered in the electric
vehicle battery market are:
•          North America: United States and Canada
•          Europe:
United Kingdom, Germany, France, Norway, Netherlands, Sweden, Austria, and Rest
of Europe
•          Asia-Pacific:
China, Japan, India, South Korea, Singapore, Australia & New Zealand, and
Rest of Asia-Pacific
•          Latin America: Brazil, Mexico, and Rest of Latin America
•          Middle East and Africa: United Arab Emirates, Turkey, Saudi Arabia, South Africa, and
Rest of Middle East & Africa
The electric vehicle battery market, in this
report, is segmented as:
•         Â
Vehicle Type is sub-segmented into:
          Â
o       Battery Electric Vehicle
          Â
o       Hybrid Electric Vehicle
          Â
o       Plug-in Hybrid Electric
Vehicle
•          Battery
Type is sub-segmented into:
         Â
o         Lead Acid
         Â
o         Nickel Metal Hydride
         Â
o         Lithium-ion
•          End-user
is sub-segmented into:
         Â
o         Commercial Vehicle
         Â
o         Passenger Car
         Â
o         Other End-users
The renowned companies thriving in the electric
vehicle battery market consist of LG Ensol, SK Innovation, CATL, Lithium Energy
Japan, Panasonic, BYD, Samsung SDI, GS Yuasa, Prime Planet Energy Solutions,
CALB, A123 Systems, Vehicle Energy Japan Co Ltd, Envision AESC, Toshiba
Corporation, and Northvolt AB.   Â
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VIEW REPORT1. GLOBAL
ELECTRIC VEHICLE BATTERY MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. KEY
INSIGHTS
2.1.1. INCREASED
INVESTMENTS IN THE ELECTRIC VEHICLE MARKET
2.1.2. NEED
FOR SUBSIDIES IN BATTERY RECYCLING
2.2. IMPACT
OF COVID-19 ON ELECTRIC VEHICLE BATTERY MARKET
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF SUPPLIERS
2.3.4. BARGAINING
POWER OF BUYERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
ATTRACTIVENESS MATRIX
2.5. INDUSTRY
COMPONENTS
2.5.1. RAW
MATERIAL MINING
2.5.2. BATTERY
CELL
2.5.3. BATTERY
MODULE
2.5.4. BATTERY
PACK
2.5.5. END-USER
2.5.6. END OF
LIFE PROCESSES
2.6. VENDOR
SCORECARD
2.7. TECHNOLOGY
ANALYSIS
2.7.1. LI-ION
BATTERY BASED ON VARIATION IN CATHODE MATERIAL
2.7.1.1. NCM
(LITHIUM-COBALT-MANGANESE-OXIDE)
2.7.1.2. NCA
(LITHIUM NICKEL COBALT ALUMINUM OXIDE)
2.7.1.3. LFP
(LITHIUM IRON PHOSPHATE)
2.7.2. SOLID
STATE BATTERIES
2.8. RAW
MATERIAL ANALYSIS
2.8.1. KEY
RAW MATERIALS
2.8.2. COUNTRIES
HAVING HIGH DEPOSITS OF KEY RAW MATERIALS
2.8.2.1. LITHIUM
2.8.2.2. MANGANESE
2.8.2.3. NICKEL
2.8.2.4. COBALT
2.8.2.5. GRAPHITE
2.9. KEY
MARKET STRATEGIES
2.9.1. CONTRACTS
& PARTNERSHIPS
2.9.2. BUSINESS
EXPANSIONS & DIVESTITURES
2.9.3. ACQUISITIONS
& MERGERS
2.9.4. NEW
PRODUCT LAUNCHES
2.10. INDUSTRY
PLAYER POSITIONING
2.11. MARKET
DRIVERS
2.11.1. GROWING
ELECTRIC VEHICLES SEGMENT
2.11.2. GOVERNMENTAL
INCENTIVES AND PROMOTION
2.11.3. DEVELOPMENTS
IN BATTERY TECHNOLOGY
2.11.4. GROWTH
IN PUBLIC CHARGING INFRASTRUCTURE
2.12. MARKET
CHALLENGES
2.12.1. ISSUES
IN RAW MATERIAL PROCUREMENT
2.12.2. HIGH
CHARGING TIME FOR BATTERIES
2.12.3. SAFETY
CONCERNS
2.13. MARKET
OPPORTUNITIES
2.13.1. EMERGENCE
OF SHARED E-MOBILITY HELPING BATTERY SWAPPING SEGMENT
2.13.2. IMPROVEMENTS
IN VEHICLE-TO-GRID (V2G) TECHNOLOGIES
3. GLOBAL
ELECTRIC VEHICLE BATTERY MARKET - BY VEHICLE TYPE
3.1. BATTERY
ELECTRIC VEHICLE
3.2. HYBRID
ELECTRIC VEHICLE
3.3. PLUG-IN
HYBRID ELECTRIC VEHICLE
4. GLOBAL
ELECTRIC VEHICLE BATTERY MARKET - BY BATTERY TYPE
4.1. LEAD
ACID
4.2. NICKEL-METAL
HYDRIDE
4.3. LITHIUM-ION
5. GLOBAL
ELECTRIC VEHICLE BATTERY MARKET - BY END-USER
5.1. COMMERCIAL
VEHICLE
5.2. PASSENGER
CAR
5.3. OTHER
END-USERS
6. GLOBAL
ELECTRIC VEHICLE BATTERY MARKET - REGIONAL OUTLOOK
6.1. NORTH
AMERICA
6.1.1. MARKET
BY VEHICLE TYPE
6.1.2. MARKET
BY BATTERY TYPE
6.1.3. MARKET
BY END-USER
6.1.4. COUNTRY
ANALYSIS
6.1.4.1. UNITED
STATES
6.1.4.2. CANADA
6.2. EUROPE
6.2.1. MARKET
BY VEHICLE TYPE
6.2.2. MARKET
BY BATTERY TYPE
6.2.3. MARKET
BY END-USER
6.2.4. COUNTRY
ANALYSIS
6.2.4.1. UNITED
KINGDOM
6.2.4.2. GERMANY
6.2.4.3. FRANCE
6.2.4.4. NORWAY
6.2.4.5. NETHERLANDS
6.2.4.6. SWEDEN
6.2.4.7. AUSTRIA
6.2.4.8. REST
OF EUROPE
6.3. ASIA-PACIFIC
6.3.1. MARKET
BY VEHICLE TYPE
6.3.2. MARKET
BY BATTERY TYPE
6.3.3. MARKET
BY END-USER
6.3.4. COUNTRY
ANALYSIS
6.3.4.1. CHINA
6.3.4.2. JAPAN
6.3.4.3. INDIA
6.3.4.4. SOUTH
KOREA
6.3.4.5. SINGAPORE
6.3.4.6. AUSTRALIA
& NEW ZEALAND
6.3.4.7. REST
OF ASIA-PACIFIC
6.4. LATIN
AMERICA
6.4.1. MARKET
BY VEHICLE TYPE
6.4.2. MARKET
BY BATTERY TYPE
6.4.3. MARKET
BY END-USER
6.4.4. COUNTRY
ANALYSIS
6.4.4.1. BRAZIL
6.4.4.2. MEXICO
6.4.4.3. REST
OF LATIN AMERICA
6.5. MIDDLE
EAST AND AFRICA
6.5.1. MARKET
BY VEHICLE TYPE
6.5.2. MARKET
BY BATTERY TYPE
6.5.3. MARKET
BY END-USER
6.5.4. COUNTRY
ANALYSIS
6.5.4.1. UNITED
ARAB EMIRATES
6.5.4.2. TURKEY
6.5.4.3. SAUDI
ARABIA
6.5.4.4. SOUTH
AFRICA
6.5.4.5. REST
OF MIDDLE EAST & AFRICA
7. COMPETITIVE
LANDSCAPE
7.1. MARKET
SHARE ANALYSIS
7.2. COMPANY
PROFILES
7.2.1. CATL
7.2.2. LG
ENSOL
7.2.3. PANASONIC
7.2.4. SAMSUNG
SDI
7.2.5. SK
INNOVATION
7.2.6. BYD
7.2.7. CALB
7.2.8. VEHICLE
ENERGY JAPAN CO LTD
7.2.9. TOSHIBA
CORPORATION
7.2.10. LITHIUM
ENERGY JAPAN
7.2.11. ENVISION
AESC
7.2.12. A123
SYSTEMS
7.2.13. GS
YUASA
7.2.14. NORTHVOLT
AB
7.2.15. PRIME
PLANET ENERGY SOLUTIONS
8. METHODOLOGY
& SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL ELECTRIC
VEHICLE BATTERY MARKET, REGIONAL OUTLOOK, 2021-2028 (IN $ MILLION)
TABLE 2: MARKET ATTRACTIVENESS
MATRIX
TABLE 3: VENDOR SCORECARD
TABLE 4: MAJOR ELECTRIC
VEHICLE KEY RAW MATERIALS PRODUCERS
TABLE 5: LIST OF CONTRACTS
& PARTNERSHIPS
TABLE 6: LIST OF BUSINESS
EXPANSIONS & DIVESTITURES
TABLE 7: LIST OF ACQUISITIONS
& MERGERS
TABLE 8: LIST OF NEW PRODUCT
LAUNCHES
TABLE 9: GLOBAL ELECTRIC
VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2021-2028 (IN $ MILLION)
TABLE 10: GLOBAL ELECTRIC
VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2021-2028 (IN $ MILLION)
TABLE 11: GLOBAL ELECTRIC
VEHICLE BATTERY MARKET, BY END-USER, 2021-2028 (IN $ MILLION)
TABLE 12: GLOBAL ELECTRIC
VEHICLE BATTERY MARKET, BY REGIONAL OUTLOOK, 2021-2028 (IN $ MILLION)
TABLE 13: NORTH AMERICA
ELECTRIC VEHICLE BATTERY MARKET, COUNTRY OUTLOOK, 2021-2028 (IN $ MILLION)
TABLE 14: NORTH AMERICA
ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2021-2028 (IN $ MILLION)
TABLE 15: NORTH AMERICA
ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2021-2028 (IN $ MILLION)
TABLE 16: NORTH AMERICA
ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, 2021-2028 (IN $ MILLION)
TABLE 17: EUROPE ELECTRIC
VEHICLE BATTERY MARKET, COUNTRY OUTLOOK, 2021-2028 (IN $ MILLION)
TABLE 18: EUROPE ELECTRIC
VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2021-2028 (IN $ MILLION)
TABLE 19: EUROPE ELECTRIC
VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2021-2028 (IN $ MILLION)
TABLE 20: EUROPE ELECTRIC
VEHICLE BATTERY MARKET, BY END-USER, 2021-2028 (IN $ MILLION)
TABLE 21: ASIA-PACIFIC
ELECTRIC VEHICLE BATTERY MARKET, COUNTRY OUTLOOK, 2021-2028 (IN $ MILLION)
TABLE 22: ASIA-PACIFIC
ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2021-2028 (IN $ MILLION)
TABLE 23: ASIA-PACIFIC
ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2021-2028 (IN $ MILLION)
TABLE 24: ASIA-PACIFIC
ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, 2021-2028 (IN $ MILLION)
TABLE 25: LATIN AMERICA
ELECTRIC VEHICLE BATTERY MARKET, COUNTRY OUTLOOK, 2021-2028 (IN $ MILLION)
TABLE 26: LATIN AMERICA
ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2021-2028 (IN $ MILLION)
TABLE 27: LATIN AMERICA
ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2021-2028 (IN $ MILLION)
TABLE 28: LATIN AMERICA
ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, 2021-2028 (IN $ MILLION)
TABLE 29: MIDDLE EAST AND
AFRICA ELECTRIC VEHICLE BATTERY MARKET, COUNTRY OUTLOOK, 2021-2028 (IN $
MILLION)
TABLE 30: MIDDLE EAST AND
AFRICA ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2021-2028 (IN $
MILLION)
TABLE 31: MIDDLE EAST AND
AFRICA ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2021-2028 (IN $
MILLION)
TABLE 32: MIDDLE EAST AND
AFRICA ELECTRIC VEHICLE BATTERY MARKET, BY END USER, 2021-2028 (IN $ MILLION)
FIGURE
1: PORTER’S FIVE FORCES ANALYSIS
FIGURE
2: INDUSTRY COMPONENTS
FIGURE
3: SNAPSHOT OF A TYPICAL NCM BATTERY
FIGURE
4: SNAPSHOT OF A TYPICAL NCA BATTERY
FIGURE
5: SNAPSHOT OF A TYPICAL LFP BATTERY
FIGURE
6: INDUSTRY PLAYER POSITIONING IN 2020 (IN %)
FIGURE
7: ELECTRIC VEHICLE SALES, IN UNITS, 2010-2020
FIGURE
8: LITHIUM-ION BATTERY PRICE PER KWH (2010-2020)
FIGURE
9: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY VEHICLE TYPE, 2020 & 2028 (IN
%)
FIGURE
10: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY ELECTRIC VEHICLE,
2021-2028 (IN $ MILLION)
FIGURE
11: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY HYBRID ELECTRIC VEHICLE,
2021-2028 (IN $ MILLION)
FIGURE
12: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY PLUG-IN HYBRID ELECTRIC VEHICLE,
2021-2028 (IN $ MILLION)
FIGURE
13: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY BATTERY TYPE, 2020 & 2028
(IN %)
FIGURE
14: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY LEAD ACID, 2021-2028 (IN $
MILLION)
FIGURE
15: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY NICKEL-METAL HYDRIDE, 2021-2028
(IN $ MILLION)
FIGURE
16: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY LITHIUM-ION, 2021-2028 (IN $
MILLION)
FIGURE
17: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY END-USER, 2020 & 2028 (IN %)
FIGURE
18: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY COMMERCIAL VEHICLE, 2021-2028
(IN $ MILLION)
FIGURE
19: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY PASSENGER CAR, 2021-2028 (IN $
MILLION)
FIGURE
20: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, BY OTHER END-USERS, 2021-2028 (IN $
MILLION)
FIGURE
21: GLOBAL ELECTRIC VEHICLE BATTERY MARKET, REGIONAL OUTLOOK, 2020 & 2028
(IN %)
FIGURE
22: UNITED STATES ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
23: CANADA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
24: UNITED KINGDOM ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
25: GERMANY ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
26: FRANCE ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
27: NORWAY ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
28: NETHERLANDS ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
29: SWEDEN ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
30: AUSTRIA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
31: REST OF EUROPE ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
32: CHINA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
33: JAPAN ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
34: INDIA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
35: SOUTH KOREA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
36: SINGAPORE ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
37: AUSTRALIA & NEW ZEALAND ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $
MILLION)
FIGURE
38: REST OF ASIA-PACIFIC ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $
MILLION)
FIGURE
39: BRAZIL ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
40: MEXICO ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
41: REST OF LATIN AMERICA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $
MILLION)
FIGURE
42: UNITED ARAB EMIRATES ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $
MILLION)
FIGURE
43: TURKEY ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
44: SAUDI ARABIA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
45: SOUTH AFRICA ELECTRIC VEHICLE BATTERY MARKET 2021-2028 (IN $ MILLION)
FIGURE
46: REST OF MIDDLE EAST & AFRICA ELECTRIC VEHICLE BATTERY MARKET 2021-2028
(IN $ MILLION)
FIGURE
47: MARKET SHARE ANALYSIS, 2020 (IN %)