EV Battery Market Expected to Reach USD 495.6 Billion by 2030, Growing at a CAGR of 14.4%

This comprehensive Global EV Battery Market report by “MarkNtel Advisors: Leading Market research Company” offers valuable insights into the current and future market landscape, providing clarity on potential challenges and strategies for optimal brand positioning. It features detailed market segmentation, in-depth analysis of key market players, emerging trends in consumer behavior and supply chain dynamics, and opportunities in new geographical markets. With the insights from this report, you can manage your marketing strategies for goods and services more effectively.

According to recent market analysis report, the Global EV Battery Market size was valued at USD 132.5 billion in 2023 & is projected to reach USD 495.6 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 14.4% during the forecast period, i.e., 2024-30.

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Electric Vehicle (EV) Battery Market Trend

Increasing Adoption of Solid-State Battery Technology – The solid-state batteries use solid electrolytes instead of liquid or gel which helps in preventing leakage issues & fire hazards and offers safety to the consumers. These batteries offer high energy density on a single charge, providing more dependability & greater vehicle range in electric vehicles. Moreover, the charging speed of solid-state batteries is half the time of other lithium-ion batteries, which results in less time consumption for charging, further gaining consumer interest. Additionally, these batteries have longer life spans and better stability than other electric vehicle batteries. As a result, the need for solid-state batteries in electric vehicles is increasing and major EV manufacturers are introducing vehicles integrated with solid-state batteries. For instance:

In 2024, Nissan announced to launch of solid-state battery-powered EVs by early 2029 under its Ambition 2030 strategy.

Thus, the proliferation in solid-state battery adoption by EV manufacturers is emerging as a significant market trend in the Global Electric Vehicle Battery Market, which is expected to upsurge overall market growth.

Market Segment Highlights:

By Battery Type

Lithium-Ion- Market Size & Forecast 2019-2030F, (Thousand Units)
Lead-Acid- Market Size & Forecast 2019-2030F, (Thousand Units)
Nickel-Metal Hydride- Market Size & Forecast 2019-2030F, (Thousand Units)
Others (Sodium Ion, Solid-State)- Market Size & Forecast 2019-2030F, (Thousand Units)

Lithium-Ion holds a significant share of the Global EV Battery Market due to its cost-effectiveness and better reliability. These batteries have been incorporated in vehicles for many years as they are pioneers in the EV battery industry, making these battery types a popular choice for EV manufacturers. Moreover, lithium-ion batteries have been commercialized across the globe and are widely available, further increasing their adoption in manufacturing EV vehicles.

By Battery Capacity

<50 KWh- Market Size & Forecast 2019-2030F, (Thousand Units)
50-110 KWh- Market Size & Forecast 2019-2030F, (Thousand Units)
111-200 KWh- Market Size & Forecast 2019-2030F, (Thousand Units)
201-300 KWh- Market Size & Forecast 2019-2030F, (Thousand Units)
>300 KWh- Market Size & Forecast 2019-2030F, (Thousand Units)

By Battery Form

Prismatic- Market Size & Forecast 2019-2030F, (Thousand Units)
Pouch- Market Size & Forecast 2019-2030F, (Thousand Units)
Cylindrical - Market Size & Forecast 2019-2030F, (Thousand Units)

By Propulsion Type

Battery Electric Vehicle (BEV)- Market Size & Forecast 2019-2030F, (Thousand Units)
Plug-In Hybrid Electric Vehicle (PHEV)- Market Size & Forecast 2019-2030F, (Thousand Units)
Fuel-Cell Electric Vehicle- Market Size & Forecast 2019-2030F, (Thousand Units)
Hybrid Vehicle- Market Size & Forecast 2019-2030F, (Thousand Units)

By Vehicle Type

Two-wheeler- Market Size & Forecast 2019-2030F, USD Million
Passenger Cars- Market Size & Forecast 2019-2030F, USD Million
Commercial Vehicles- Market Size & Forecast 2019-2030F, USD Million
- Vans/Light Trucks- Market Size & Forecast 2019-2030F, USD Million
- Medium & Heavy Trucks- Market Size & Forecast 2019-2030F, USD Million
- Buses- Market Size & Forecast 2019-2030F, USD Million
- Off-Highway Vehicles- Market Size & Forecast 2019-2030F, USD Million

By Method

Wire Bonding- Market Size & Forecast 2019-2030F, (Thousand Units)
Laser Bonding- Market Size & Forecast 2019-2030F, (Thousand Units)
Ultrasonic Bonding - Market Size & Forecast 2019-2030F, (Thousand Units)

EV Battery Market Regional Outlook:

North America
South America
Europe
The Middle East & Africa
Asia-Pacific.

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EV Battery Market Competition Analysis:

Some of the top EV Battery companies operating in the market are Contemporary Amperex Technology Co., Limited, LG Energy Solutions, BYD Company Limited, Panasonic Corporation, Toshiba Corporation, Mitsubishi Corporation, Enersys, SK Inc., CALB, Gotion Inc, Sunwoda Electronic Co. Ltd, Farasis Energy, Vehicle Energy Japan, Inc, Exide Industries, Primearth EV Energy Co., Ltd, Others.

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