Electric Vehicle Battery Market would Reach $116.34 billion | EXHIBIT A CAGR OF20.31% (2022-2027)

August 30 18:20 2022
Electric Vehicle Battery Market would Reach $116.34 billion | EXHIBIT A CAGR OF20.31% (2022-2027)
Market Research Reports, Business Consulting Services & Analytics
An electric-vehicle battery (EVB) is also known as a traction battery that is used to power the electric motors of an electric vehicle. These batteries are usually rechargeable batteries, and are typically lithium ion battery & nickel metal hydride battery based.

An electric-vehicle battery (EVB) is also known as a traction battery that is used to power the electric motors of an electric vehicle. These batteries are usually rechargeable batteries, and are typically lithium ion battery & nickel metal hydride battery based. These batteries are specifically designed for a high ampere-hour or kilowatt-hour with a wide range of capacities. Increasing government policies and investment for the deployment of the public charging infrastructure coupled with the increasing efficiency of the electric vehicle battery management system is expected to create significant growth for the demand of electric vehicle batteries during the forecast period.  

Competitive Landscape:

The top 5 players in the Electric Vehicle Battery industry are –

1. CATL 

2. Panasonic Corporation 

3. Mitsubishi Electric Corporation



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Segmental Analysis:

1. Electric Vehicle Battery Market Report is segmented into Lithium-Ion Batteries, Nickel-Metal Hydride Batteries, Lead-Acid Batteries, Ultracapacitors and Others. 

2. Electric cars are analysed to hold the highest share of 64.21% during the forecast period 2022-2027 owing to the increasing production of electric cars over electric scooter. For instance, according to International Energy Agency (IEA), electric car sales share showed an exponential growth by elevating from 4.3% in 2020 to 25% in 2025 and is forecasted to reach 60.9% by 2030.

3. International Energy Agency (IEA), global electric car stock in China is highest in 2020 accounting for 3.5 million BEV and 1 million PHEV. This huge availability of electric car tend to drive the Electric vehicle battery market growth during the forecast period. 


Report Coverage

Report Attributes


By Battery Type

Lithium-Ion Batteries, Nickel-Metal Hydride Batteries, Lead-Acid Batteries, Ultracapacitors and Others. 

By Application

Electric cars (Passenger Cars and Commercial Cars and Others), Electric scooters and Others. 

By Electric Vehicle Type

Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV) and Fuel cell Electric vehicle.  

By Geography

North America(U.S., Canada and Mexico); Europe(U.K., Germany, Italy, France, Spain, Russia, Rest of Europe); APAC (China, Japan, South Korea, India, Australia, Rest of APAC); South America (Brazil, Argentina, Rest of Americas); Row (Middle East & Africa). 


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Market Drivers and Challenges:

1. Increasing environmental concerns to limit the production of conventional vehicles which has adversely affected global environment structure has propelled the demand of electric vehicle batteries. 

2. With the increasing technological advancement and environmental friendly offerings of electric vehicles is set to drive the global automotive sector during the forecast period. 

3. here is no doubt that the popularity of electric vehicles has grown exponentially in last few years owing to the environmental concerns, but with the limited availability of charging infrastructure across various parts of a country tend to limit the market growth of electric vehicle batteries during the forecast period.

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Similar Reports: 

A. Electric Vehicle Market


B. Automotive Battery Market 


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