Global Electrical Vehicle Battery Market Analysis Report 2023-2028: Cost Reductions for EV Batteries & Surging Demand for Clean Energy Propels Adoption

DUBLIN, Sept. 15, 2023 /PRNewswire/ — The “Global Electrical Vehicle Battery Market” report has been added to’s offering.

This report provides an analysis of the global market for electric vehicle batteries. Using 2022 as the base year, the report provides estimated market data for 2023 through 2028. This report also offers insights on drivers and opportunities for the market, which were gathered through primary and secondary research. 

Due to their high energy density by weight, lithium-ion and lithium-polymer batteries are the most prevalent battery types in modern electric vehicles. Nickel-cadmium, nickel-metal hydride, lead-acid (and, less frequently, zinc-air and sodium nickel chloride) batteries are also used in electric vehicles. The quantity of energy stored in batteries is expressed in ampere-hours or coulombs, with the overall amount of energy frequently expressed in kilowatt-hours.

Consumer electronics, laptop computers, mobile phones, and power tools have driven innovations in lithium-ion battery equipment. These performance and energy density advancements have benefited the BEV and HEV markets. Unlike previous battery chemistries, particularly that of nickel-cadmium, the chemistry of lithium-ion batteries enables them to be discharged and recharged regularly and at any level of charge.

As the market for electric vehicles increases, the supply of second-life batteries increases. Forecasts from university studies and trade reports approximate a range of 112-275 GWh per year of second-life batteries becoming accessible by 2030 globally. After 8 to 12 years in a vehicle, the lithium batteries utilized in EVs are expected to hold more than two-thirds of their operational energy storage. Changing their condition, used EV batteries can serve an additional 5-8 years of service in a secondary application.

The capability of a battery to preserve and quickly discharge electricity degrades with use. Constant consumption of the maximum storage capacity of the battery, rapid charge and discharge cycles, and exposure to high temperatures are all likely to reduce battery performance.

Given the light-duty cycles suffered by EV batteries, some modules with minimal degradation and absent defects or damage could likely be refurbished and reused immediately as a substitute for the exact model vehicle. Leading car manufacturers, including Nissan and Tesla, have suggested rebuilding or refurbishing battery packs for buying or warranty replacement of original battery packs in EVs. The economics of second-life battery storage also depends on the cost of the repurposed system competing with new battery storage. To be used as stationary storage, used batteries must undergo numerous processes that are presently costly and time intensive.

The COVID-19 outbreak and the RussiaUkraine war have disrupted global supply chains, particularly in the automotive industry. Soon, delays in EV delivery to clients may stifle sales growth in some countries. However, in the long run, government and business efforts to electrify transportation are laying a solid foundation for future EV sales growth.

The report’s scope includes a detailed study of global and regional markets for battery type, propulsion, vehicle type, method, battery capacity, battery form, and material type. The qualitative and quantitative data of all segments are provided in the report. The report examines each segment, determines its current market size, and estimates its future market size with compound annual growth rates (CAGR).

The report also provides detailed profiles of the significant electric vehicle battery players and their strategies to enhance their market presence. The report also includes a competitive landscape chapter that discusses the market ecosystem of the top electric vehicle battery provider in 2022.

Report Includes

  • Estimation of market size and analyses of global market trends, with data from 2022, estimates for 2023 and 2024, and projections of compound annual growth rates (CAGRs) through 2028
  • Highlights of the market potential and characterization of electrical vehicle battery market by battery type, propulsion, vehicle type, method, battery capacity, battery form, material type and region
  • Insights into government initiatives, laws, and incentives to encourage electric vehicle usage and information on significant improvements in battery chemistry, materials, and manufacturing techniques
  • Description of gigafactories, the companies who run them and discussion on how they help in improving battery production capacity resulting in low cost and easy availability of EV batteries
  • Coverage of emerging technologies and developments of the industry
  • Evaluation of key industry acquisitions and strategic alliances and market share analysis of the leading suppliers of the industry
  • Profiles of the key companies of the industry, including BYD Co. Ltd., LG Chem, Mitsubishi Corp., Panasonic Holdings Corp. and Toshiba Corp.

Key Topics Covered:

Chapter 1 Introduction

Chapter 2 Summary and Highlights

Chapter 3 Market Overview

  • Introduction
  • Evolution of Electric Vehicle Batteries
  • Value Chain Analysis
  • Raw and Processed Materials
  • Cell Component Manufacturing
  • Cell Manufacturing
  • Battery Pack Manufacturing
  • Electric Vehicles Manufacturing
  • Recycling
  • Porter’s Five Forces Model
  • Supplier Power
  • Buyer Power
  • Threat of New Entrants
  • Threat of Substitute
  • Competitive Rivalry
  • Impact of Covid-19 and Ukraine-Russia War on the Global Market
  • Covid-19 Impact
  • Impact of the Russia-Ukraine War

Chapter 4 Market Dynamics

  • Overview
  • Key Market Drivers
  • Increase in Demand for Electric Vehicles (Hevs, Phevs, Pure Evs, and Fcevs)
  • Cost Reductions for Ev Batteries
  • Growing Demand for Clean Energy
  • Reduction of Carbon Emissions
  • Market Restraints
  • High Capital Cost for Electric Vehicles Compared to Conventional Ice Vehicles
  • Inadequate Electric Vehicle Charging Infrastructure
  • Key Challenges in the Market for Electric Vehicle Batteries
  • Battery Capacity is Limited
  • Inadequate Uniformity of Electric Vehicle Charging Infrastructure
  • Market Opportunities
  • Government Efforts Relating to Electric Vehicles
  • Government Agencies Are Promoting the Establishment of Electric Charging Stations
  • To Feed the Market, Researchers Are Developing Wireless Ev Charging Technologies for On-The-Go Charging
  • Short-Term and Long-Term Impact of Market Dynamics

Chapter 5 Market Breakdown by Type of Battery

  • Overview
  • Lithium-Ion Batteries and Advanced Batteries
  • Lithium Battery Chemistry
  • Construction of Lithium-Ion Batteries
  • Advance Battery
  • Solid-State Batteries
  • Sodium-Ion Battery
  • Nickel-Metal Hydride Batteries
  • Lead-Acid Batteries

Chapter 6 Market Breakdown by Type of Propulsion

  • Overview
  • Battery Electric Vehicle (Bev)
  • Market Drivers for Battery Electric Vehicles
  • Key Components of Battery Electric Vehicle (Bev)
  • Hybrid Electric Vehicle (Hev)
  • Market Drivers for Hybrid Electric Vehicles
  • Operation of Hybrid Electric Vehicles
  • Key Components of a Hybrid Electric Vehicle (Hev)
  • Plug-In Hybrid Electric Vehicle (Phev)
  • Operation of Plug-In Hybrid Electric Vehicles
  • Market Drivers for Plug-In Hybrid Electric Vehicle
  • Key Components of a Plug-In Hybrid Electric Car (Phev)
  • Fuel Cell Electric Vehicle (Fcev)
  • Key Components of a Fuel Cell Electric Vehicle (Fcev)

Chapter 7 Market Breakdown by Type of Vehicle

  • Overview
  • Passenger Cars
  • Passenger Vehicle Market Summary
  • Vans
  • Bus
  • Electric Bus Market Summary
  • Truck
  • Other Types of Vehicles
  • Two-Wheeler
  • Off-Highway Vehicle

Chapter 8 Market Breakdown by Bonding Method

  • Overview
  • Wire Bonding
  • Laser Bonding

Chapter 9 Market Breakdown by Battery Capacity

  • Overview
  • <50 Kwh
  • 50-100 Kwh
  • 100-200 Kwh
  • 200-300 Kwh
  • >300 Kwh

Chapter 10 Market Breakdown by Battery Form

  • Overview
  • Prismatic
  • Cylindrical
  • Pouch

Chapter 11 Market Breakdown by Type of Material

  • Overview
  • Lithium
  • Cobalt
  • Nickel
  • Other Types of Materials
  • Manganese
  • Natural Graphite

Chapter 12 Market Breakdown by Region

  • Overview
  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • Norway
  • U.K.
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
  • Rest of the World
  • Middle East and Africa
  • South America

Chapter 13 Esg Development

  • Overview
  • Electric Vehicle Batteries and Esg Are Closely Related
  • Importance of Esg in the Electric Vehicle Battery Industry
  • Approach by Electric Vehicle Batteries to Achieve Esg Goals
  • Esg Penetration for Ev Battery Manufactures
  • Current Status of Esg in the Market for Electric Vehicle Batteries
  • Future of Esg With Electric Vehicle Battery Industry
  • Case Study: Examples of Successful Implementation of Esg
  • Concluding Remarks

Chapter 14 Emerging Technologies and Developments

  • Introduction
  • Current Market Trends
  • Increased Energy Density
  • Cost Reduction
  • Extended Battery Life
  • Fast-Charging Infrastructure
  • Sustainable and Recyclable Batteries
  • Emerging and Upcoming Trends in Electric Vehicle Batteries
  • Technological Background
  • Advancements in Electric Vehicle Batteries Technology
  • Longer Battery Lifespan
  • Recycling and Second-Life Applications
  • Integration of Battery and Vehicle Systems
  • Sustainable Battery Materials
  • Collaborations and Partnerships

Chapter 15 Patent Analysis

  • Overview
  • Key Patents

Chapter 16 M&A and Funding Outlook

  • M&A Analysis
  • Start-Up Funding in Electric Vehicle Batteries

Chapter 17 Competitive Landscape

  • Overview
  • Market Share Analysis
  • Market Strategy Analysis for Electric Vehicle Batteries
  • Agreements
  • Partnerships
  • Product Launches
  • Expansions
  • Investments
  • Key Market Developments
  • Agreement
  • Partnership
  • Product Launch
  • Expansion
  • Investment

Chapter 18 Company Profiles

  • Byd Co. Ltd.
  • Contemporary Amperex Technology Ltd. (Catl)
  • China Lithium Battery Technology Co. Ltd. (Calb)
  • Clariosno
  • Enersys
  • Envision Automotive Energy Supply Corp. (Aesc)
  • Lg Chem
  • Mitsubishi Corp.
  • Molicel
  • Panasonic Holdings Corp.
  • Samsung Sdi Co. Ltd.
  • Sk on Co. Ltd.
  • Toshiba Corp.
  • Vehicle Energy Japan Inc.
  • Primearth Ev Energy Co. Ltd.

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