Global Electric Vehicle Battery Market Size Analysis, 2018-2028

REPORT ID: BKR933Domain: Automotive TransportPublished Date: December 2018
Pages: 282Format: PDF

Global Electric Vehicle Battery Market Size Analysis

The global Electric Vehicle Battery market size is estimated to be valued at USD 19.2 billion in 2018 and will register a CAGR of 11.4% to create collective absolute revenue opportunity of USD 61 billion during the forecast period.

The automotive industry’s quest to offer sustainable and zero emission vehicles has largely boosted the overall sales of electric vehicles (EV) and is rapidly replacing conventional vehicles on road. It is expected that these vehicles will cover over half of total vehicles on road. As such, all other allied sectors and electric vehicle battery market is set to witness impressive growth during the forecast period. Electric vehicle battery businesses hold immense potential to engaged players Companies are focusing on product development as a key part of their strategy to strengthen their market presence.

Global Electric Vehicle Battery Market Drivers and Challenges

Global electric vehicle battery market will be fueled by various factors ranging from macroeconomic to demand and supply side drivers. Government initiatives towards clean energy has led to good platform for all business verticals. For instance, government of China announced offers various subsidies to woo electric car sales. Recently, the government increased electric car subsidy from USD 6,930 to USD 7,875 for electric vehicles with over 249 miles of range. The changes will help car makers to offer long range electric vehicles. This will significantly boost electric vehicles battery market. Another such initiative is taken by government of India, wherein, the government is planning to roll out 100% electric cars on road by 2030.

Design configuration and product development will also play a key role in overall sales of electric vehicle battery market. Increase in power capacity of batteries is the key focus of players. This in turn is expected to reduce the overall weight and increase the working efficiency.

Though the electric vehicle battery market is growing at an impressive rate, companies need to focus on distribution channel and awareness issues to tap the most of the addressable market. Currently, installed capacity is almost six times higher compared to actual sales.

Global Electric Vehicle Battery Market Analysis, By Battery Type

On the basis of battery, global electric vehicle battery market size is segmented into lithium ion battery, lead acid battery and nickel metal hydride. Among these, lithium ion battery is expected dominate the market throughout the forecast period. It is expected to be valued USD 49.5 billion by 2028 – 3.6X increase in revenue compared to that in 2017. Various companies are trying to enter in value chain to enhance their revenue. For instance, in 2018, BMW announced its plan to secure 10-year supply of lithium and cobalt for Electric vehicle batteries. In this way, company wants to be a major raw material supplier.

Lithium-ion EV batteries is becoming a preferred choice for full-battery electric vehicles (PHEVs and BEVs) and plug-in vehicles. As such, the segment will register fastest CAGR over the forecast period. Its other benefits include decreasing cost and increasing power density. There has been steep decline in Li-batteries in last eight years. Average price of these batteries in 2017 was USD 270/kWh – which is 72% lower compared to that in 2011. The prices are expected to further fall below USD 90/kWh by 2028. Fierce competition between industry players, technological advancement, led to decline in overall prices.

Industry players are setting up their production bases near to automobile manufacturing location. This will help in reducing the operational and logistic cost. U.S., China, Japan, France and South Korea are major producer of lithium ion batteries.

Global Electric Vehicle Battery Market Analysis, By Capacity

On the basis of capacity, global electric vehicle market outlook is segmented into 05-20 kWh, 24-40 kWh and above 41 kWh. By 2028, 21-40 and above 40 kWh will be valued over USD 46 billion. Development of long range miles EV will create favorable market opportunity for these segments. The trend is likely to be stronger in China and developed regions.

Global Electric Vehicle Battery Market Size and Forecast: Regional Analysis

Globally, Asia Pacific electric vehicle battery market value surpassed North America sales in 2017 – becoming the leading destination for EV batteries industry players. Much of the growth in Asia Pacific region comes from China.

China electric vehicle battery market size accounted for largest share in Asia Pacific. However, India is also emerging as lucrative destination for industry players. China is aiming to have 5 million electric cars by 2020. As of now, Panasonic is one of the leading supplier of EV batteries in Asia Pacific and global region. Growth in company sales is also attributed to its business relations with Tesla. However, in last few years, china based players are catching up with global players and thus emerged in top 5 leading suppliers worldwide. Build Your Dreams (BYD) and Contemporary Amperex Technology (CATL) are two leading suppliers in China and worldwide. These companies has increased their installed capacity production in last three years. In 2017, CATL announced its plan to raise US$ 2bn from an IPO to help fund its business expansion plans in electric vehicle battery market.

North America is another lucrative region for industry players. North America electric vehicle battery market revenue is estimated to be valued over USD 6 Billion in 2018. As of 2017, over 50 companies are involved in EV manufacturing and research process. Michigan and California are the key production and R&D region in North America. Various leader are planning to increase their business presence in the region. For instance, EV supplier Panasonic, in partnership with Tesla, is building Gigafactory in Nevada, U.S.

Global Electric Vehicle Battery Market Size and Forecast: Competition Landscape

Some of the key Electric Vehicle Battery market industry players are Panasonic, BYD, Johnson Controls International PLC, GS Yuasa, Hitachi Group, LG Chem, CATL, SAMSUNG SDI CO. LTD., Quallion, SK Innovation, BMW, Daimler AG, Nano One, Boston-Power, Inc.

Companies are focusing on strengthening their presence by enhancing their production channel along with patenting their innovative technology and products. For instance, in February 2018, Nano One received Japanese Patent directed towards lithium ion battery. In 2017, South Korea Based SK Innovation announced its plans to invest nearly US$ 777 million into EV battery production plant in Hungary. Several such developments is expected to be seen in global electric vehicle battery market – leading to higher competitiveness and increased ROI.

Industry Segmentation

By Battery Type:

  • Lithium Ion Battery
  • Lead Acid Battery
  • Nickel Metal Hydride

By Vehicle:

  • Light Weight Vehicle
    • BEV
    • PHEV
    • HEV
  • Heavy Duty Vehicle
    • BEV
    • PHEV
    • HEV

By Battery Capacity:

  • 05-20 kWh
  • 21-48 kWh
  • >48 kWh

What Will You Discover in the Report?

  • An in-depth analysis of the Electric Vehicle Battery market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
  • How the Electric Vehicle Battery market sales is expected to grow throughout the forecast period.
  • How geopolitical policies and technological changes will affect the Electric Vehicle Battery market in near future
  • Where the stakeholders should invest to generate higher profit margins
  • How consumers (end-users) will reflect to the Electric Vehicle Battery industry during the forecast period
  • Who are the Electric Vehicle Battery industry leaders and what are the key initiatives taken by them for long term growth

Who will benefit from the Report?

  • Electric Vehicle Battery Industry Suppliers
  • Electric Vehicle Battery Industry Manufacturers
  • Consultants and Analysts
  • Researchers
  • Industry Specialists

Analyst access with Bekryl Market Analysts

Purchasing of Electric Vehicle Battery market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions.

Electric Vehicle Battery Market Size – Research Scope

  1. Report Structure
  2. Research Methodology
    • Market Engineering Factors Weightage
    • Market Share Methodology
  3. Executive Summary
    • Key Findings
    • Market Engineering Factors
    • Industry Expert Perspectives
  4. Market Definitions
  5. The Global EV Battery Market Value
    • Overall Market Forecast
    • Electric Vehicle Battery Growth Outlook, By Segments
    • Electric Vehicle Battery Growth Scenario, by Region
  6. The EV Battery Industry Ecosystem
    • Parent Market Overview
    • Industry Value Chain and Distribution Analysis
    • Growth Factor Analysis
    • Key Industry Players By Region
  7. The Electric Vehicle Battery Industry Dynamics
    • Drivers
    • Challenges
    • Opportunities
    • Mega Trends
    • Geographical Trends
    • Industry Experts Views
    • Merger Acquisition
    • Regulatory Compliances, By Selected Countries
    • Key Industry Developments
  8. The EV Battery Market Pricing Analysis
    • Electric Vehicle Battery Product Pricing Forecast
    • Pricing Analysis By Region
    • Pricing Trends
  9. Global Electric Vehicle Battery Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Industry Predictive Analysis
    • Electric Vehicle Battery Industry Segment Comparative Ranking Analysis
    • Key Companies Involved and Initiatives
    • Global Industry Opportunity Proposition Analysis
    • Market Share Analysis, (%)
    • Global Electric Vehicle Battery Market Size and Forecast, (2017-2027)
      • Market Value Forecast (US$ Million)
      • Growth Analysis (Y-o-Y) and Forecast
  1. Global Electric Vehicle Battery Market Size and Forecast, By Segments
    • By Battery Type
      • Lithium Ion Battery
      • Lead Acid Battery
      • Nickel Metal Hydride
    • By Vehicle
      • Light Weight Vehicle
        • BEV
        • PHEV
        • HEV
      • Heavy Duty Vehicle
        • BEV
        • PHEV
        • HEV
      • By Battery Capacity
        • 05-20 kWh
        • 21-48 kWh
        • >48 kWh
  1. North America Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis
    • North America Electric Vehicle Battery Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • North America Electric Vehicle Battery Market, By Segments (As mentioned in section 10 of TOC)
    • S. Electric Vehicle Battery Market Size and Forecast, By Segments
    • Canada Electric Vehicle Battery Market Size and Forecast, By Segments
  2. Latin America Electric Vehicle Battery Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Latin America (South America) Electric Vehicle Battery Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • Latin America Electric Vehicle Battery Market, By Segments (As mentioned in section 10 of EV Market TOC)
    • Brazil Electric Vehicle Battery Market Size and Forecast, By Segments
    • Argentina Electric Vehicle Battery Market
    • Mexico Electric Vehicle Battery Market
    • Rest of Latin America

(Electric Vehicle Battery industry analysis covered across Latin America countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Western Europe Electric Vehicle Battery Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Western Europe Electric Vehicle Battery Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Western Europe Electric Vehicle Battery Market (EV Battery Market), By Segments (As mentioned in section 10 of TOC)
    • Germany Electric Vehicle Battery Market Size and Forecast, By Segments
    • UK
    • France
    • Spain
    • Italy
    • NORDIC
    • Switzerland
    • Rest of Western Europe

(Electric Vehicle Battery industry analysis covered across Western Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Central and Eastern Europe (CEE) Electric Vehicle Battery Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Central and Eastern Europe Electric Vehicle Battery Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Central and Eastern Europe Electric Vehicle Battery Market, By Segments (As mentioned in section 10 of Electric Vehicle Battery Market TOC)
    • Russia Electric Vehicle Battery Market Size and Forecast, By Segments
    • Poland
    • Ukraine
    • Rest of CEE

(Electric Vehicle Battery industry analysis is covered across Central and Eastern Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Asia Pacific Electric Vehicle Battery Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Asia Pacific Countries
    • Asia Pacific Electric Vehicle Battery Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Asia Pacific Electric Vehicle Battery Market, By Segments (As mentioned in section 10 of TOC)
    • Japan Electric Vehicle Battery Market Size and Forecast, By Segments
    • China
    • India
    • South Korea
    • Australia
    • ASEAN
    • Rest of Asia Pacific

(Electric Vehicle Battery industry analysis is covered across Asia Pacific countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Middle East Electric Vehicle Battery Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Middle East Countries
    • Middle East Electric Vehicle Battery Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Middle East Electric Vehicle Battery Market, By Segments (As mentioned in section 10 of TOC)
    • GCC Electric Vehicle Battery Market Size and Forecast, By Segments
    • Israel
    • Rest of Middle East

(Electric Vehicle Battery industry analysis is covered across Middle East countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Africa Electric Vehicle Battery Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Africa Countries
    • Market Share Analysis, (%)
    • Africa Electric Vehicle Battery Industry Size and Forecast, (2017-2027)
    • Africa Electric Vehicle Battery Industry Share (%)
    • Africa Electric Vehicle Battery Industry Growth Forecast (%)
    • South Africa Electric Vehicle Battery Market Size and Forecast, By Segments
    • Algeria
    • Nigeria

(Electric Vehicle Battery industry analysis is covered across Africa countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Electric Vehicle Battery Market Competitive Landscape
    • Competition Dashboard
    • Funding and Investment
    • Company Market Positioning
    • Marketing Mix Strategies
    • Product Level Strategies
    • Go-to-Market Strategies
    • SWOT Analysis
    • Key Developments, By Companies
    • Company Profiles*
      • Panasonic
      • BYD
      • Johnson Controls International PLC
      • GS Yuasa
      • Hitachi Group
      • LG Chem
      • CATL
      • SAMSUNG SDI CO. LTD.
      • Quallion
      • SK Innovation
      • BMW
      • Daimler AG
      • Nano One
      • Boston-Power, Inc.
  1. Analyst Opinion
  2. Summary and Conclusion
  3. For more Information, Bekryl can help

*(SWOT, Key Developments, and Strategies are based on individual companies)

To access the detailed Electric Vehicle Battery industry TOC and sample research pages, download sample.

Electric Vehicle Battery Market Research Methodology

Bekryl Market Analysts has earned reputation within the market research and consulting industry for its ability to not only collect and reprint data but also its ability to build upon its extensive models and databases to provide meaningful forecasting and strategic planning services to clients.

Our research analyst and industry experts thoroughly investigates the industry by extensively interviewing the industry leaders and analyzing information from various secondary sources. The information collected is analyzed with the help of analytical tools to offer real time forecast solutions.

Electric Vehicle Battery Market Growth Forecasting Methodology

In order to prepare historical data and analyze Electric Vehicle Battery market forecast, Bekryl prepare data for product supply and actual demand from end-use consumers. Through this, we get to know actual demand for Electric Vehicle Battery market globally. The data collection is done through secondary and primary market research and then a constructive model is developed.

  • Secondary market research involves data collection through various paid publications and government agencies. Various journals and pre-encrypt transcripts is decoded to get the real time data solutions
  • The data collected through secondary research is then validated with the industry experts to minimize the anomaly and reflect key stakeholders opinion in the report.

With the model constructed, the cluttered data collected through different sources is structured with the help of proprietary analytical tools – making us understand the variation happened in the current year compared to historical years. To forecast Electric Vehicle Battery industry revenue, Bekryl Market Analysts takes in consideration the demand growth of the segments. Demand for the product is dependent on end-user spending which is a function of many factors: amongst them macroeconomic strength, price variation and other base factors.

The forecast methodology requires extensive data analysis across countries. Among all the factors, GVA and GDP output is considered as the first set of approximation. Bekryl Market Analysts has developed a demand driven model based on GDP across targeted countries.  Under this, co-relation is analyzed between product and GDP – resulting in a constant GDP-Product coefficient. Higher the coefficient- greater will be the growth rate. For instance, GDP-Product segment coefficient matrix of 3 denotes Electric Vehicle Battery industry growth is nearly 3.5X to 5.5X higher than the relative GDP.

Besides GDP-Product Coefficient, Bekryl establishes following relation variation for higher predictive analysis.

  • Base Factors Growth Analysis
  • Price Variation Analysis
  • Potential Consumer Mapping

Electric Vehicle Battery Industry Players: Competition Landscape Methodology

Bekryl maps key market players across regions. Financial ratios is taken in consideration along with regional presence and their value chain to understand the company market strength. Thereafter, investment proposition for each company is proposed which gives coefficient matrix value for the company. Industry experts is also reflected in company landscape.

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