Home / Technology & Media / Electric Vehicle Battery Market By Vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle), By Battery Type (Lead Acid Battery, Nickel Metal Hydride Battery, Lithium-Ion Battery), By Sales Channel (Original Equipment Manufacturers (OEMs), Aftermarket), By Application (Passenger Car, Commercial Vehicle) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

Electric Vehicle Battery Market By Vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle), By Battery Type (Lead Acid Battery, Nickel Metal Hydride Battery, Lithium-Ion Battery), By Sales Channel (Original Equipment Manufacturers (OEMs), Aftermarket), By Application (Passenger Car, Commercial Vehicle) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

Published: Nov 2018 | Report Code: 59421-11-18

Government Support through Taxes & Incentives and Regulations on Emissions Influencing the Electric Vehicle Battery Market Growth Positively

The electric vehicle battery market was valued at US$ 2.24 Bn in 2017 and expected to grow at a CAGR of 20.2% during the forecast period from 2017 to 2026. The electric car revolution has become a hot investing theme in recent years as many believe it will transform the future of transport. Currently, push factors such as government support through taxes and incentives coupled with regulations on emissions are driving the market for electric vehicles. The aforementioned factors further make electric vehicles cheaper than cars with internal combustion engines (ICE) owing to which carmakers are investing heavily on R&D activities. Improving market conditions including technological, economic and political factors are expected to create favorable growth opportunities for the electric vehicle market to flourish, a factor influencing the electric vehicle market growth positively. Moreover, in the coming years, car manufacturers are expected to significantly expand their electric vehicle product range. This growth can be understood from the fact that in 2017, the number of new BEV and PHEV models launched globally doubled and again expected to further double in 2018. Therefore, these factors in combination expected to contribute to the electric vehicle battery market growth in the coming years.

However, barriers to large scale adoption of electric vehicles exist in the form of limited vehicle range, battery degradation & cost and lack of charging infrastructure. For instance, it takes an average time of four minutes to refuel an ICE car as compared to that of a BEV, which takes around 7 hours and 20 minutes to recharge.

Market Synopsis

Electric Vehicle Battery Market

Low Maintenance Cost, High Charge Retention Capacity and High Energy Density to Make Lithium-Ion Battery a Popular Choice in Coming Years

The adoption of lithium-ion battery in electric cars expected to be high during the forecast period. Initially, Nickel Metal Hydride (NiMH) batteries were mainly used to power hybrid vehicles, however, over the years, lithium-ion battery have emerged as the primary solutions for automakers to power plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). The factors supporting the increasing adoption of lithium-ion battery in electric cars include, low maintenance cost, high charge retention capacity and high energy density. These factors expected to positively influence the adoption of lithium-ion battery in BEVs and PHEVs in the coming years. However, certain drawbacks exist for lithium-ion battery in the form of it being an expensive battery technology and major safety concerns pertaining to overcharging and overheating.

Electric Vehicle Battery Market

R&D Activities to Remain on the Center Stage for Electric Vehicle Battery Manufacturers

Research and development activities is one of the most common strategies adopted by the manufacturers of electric vehicle battery. These manufacturers are focusing on battery performance improvements and cost reductions in order to improve the appeal of electric vehicles. Moreover, in order to achieve the aforementioned factors, the manufacturers are making continuous efforts to increase the production scale and battery sizes. Furthermore, with the transition to technologies beyond lithium-ion, further improvements are expected to be witnessed in the area of electric vehicle battery.

Electric Vehicle Battery Market

Asia Pacific to register the fastest Growth during the Forecast Period

Asia Pacific was the largest regional market for electric vehicle battery worldwide in 2017. China stood as the largest market for electric cars in 2017 globally. The adoption of electric cars in the country has been growing at a very rapid rate. In 2017, China witnessed a growth of 72% in the sales of electric cars owing to which various electric car manufacturers are eyeing the region as potential market for revenue generation. For instance, Tesla recently announced its plan to invest US$ 5 Bn in in a factory in Shanghai. This will enable the company to have better access to the domestic market and at the same time ease the effects of punitive tariffs for its Chinese customers. With this move, the company expected to produce 500,000 cars annually in China. One of the most prominent factor aiding the electric vehicle battery market growth in Asia Pacific can be attributed to rising concerns related to energy security and incentives on use of battery powered vehicles. Europe expected to be another important market for electric vehicle battery in the coming years. The popularity of electric vehicle in the region can be understood from the fact that, in 2017, the market share of electric cars in Norway, Iceland and Sweden accounted for 39%, 12% and 6% respectively.

Electric Vehicle Battery Market

Historical & Forecast Period

2016 – Historical Year

2017 – Base Year

2018-2026 – Forecast Period

This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments are calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The report elucidates the detailed outline of global electric vehicle battery market by categorizing the market in terms of vehicle type, battery type, sales channel, application and geography.

Vehicle Type (2016–2026; US$ Bn)

  • Battery Electric Vehicle
  • Hybrid Electric Vehicle
  • Plug-in Hybrid Electric Vehicle

Battery Type (2016–2026; US$ Bn)

  • Lead Acid Battery
  • Nickel Metal Hydride Battery
  • Lithium-ion Battery

Sales Channel (2016–2026; US$ Bn)

  • Original Equipment Manufacturers (OEMs)
  • Aftermarket

Application (2016–2026; US$ Bn)

  • Passenger Car
  • Commercial Vehicle
  • Two Wheeler

Geography Segment (2016–2026; US$ Bn)

  • North America
    • United States
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of APAC
  • Rest of the World (RoW)
    • Middle East & Africa (MEA)
    • Latin America

Electric Vehicle Battery Market

Key players profiled in the report include AESC, Panasonic, Mitsubishi, BYD, LG Chem, Wanxiang, Samsung, Tianneng, Beijing Pride Power and Boston-Power, Inc. among others.

Key questions answered in this report

  • What was the global electric vehicle battery market size in 2017 and forecast for 2026?
  • What are the current trends in the electric vehicle battery market?
  • What are the various valuable opportunities for the players in the market?
  • Which is the largest regional market for electric vehicle battery?
  • Which region expected to be the fastest growing and why?
  • What are the future prospects for the electric vehicle battery market?
  • What are the major drivers and restraints influencing the market growth?
  • What are the new innovations by the leading players?
  • What are the key strategies adopted by the leading players in market?

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Electric Vehicle Battery
2.2 Global Electric Vehicle Battery, By Vehicle Type, 2017
2.3 Global Electric Vehicle Battery, By Battery Type, 2017
2.4 Global Electric Vehicle Battery, By Sales Channel, 2017
2.5 Global Electric Vehicle Battery, By Application, 2017
2.6 Global Electric Vehicle Battery, By Geography, 2017

Chapter 3 Market Dynamics
3.1 Market Overview
3.1.1 Global Electric Vehicle Battery Value, 2016 – 2026, (US$ Bn)
3.2 Market Drivers
3.3 Market Restraints
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends and Future Outlook
3.5 Attractive Investment Proposition, By Geography
3.6 Competitive Analysis
3.6.1 Market Positioning of Key Vendors
3.6.2 Key Strategies Adopted by the Leading Players

Chapter 4 Global Electric Vehicle Battery Analysis, By Vehicle Type, 2016 – 2026
4.1 Market Analysis
4.2 Battery Electric Vehicle
4.3 Hybrid Electric Vehicle
4.4 Plug-in Hybrid Electric Vehicle

Chapter 5 Global Electric Vehicle Battery Analysis, By Battery Type, 2016 – 2026
5.1 Market Analysis
5.2 Lead Acid Battery
5.3 Nickel Metal Hydride Battery
5.4 Lithium-ion Battery

Chapter 6 Global Electric Vehicle Battery Analysis, By Sales Channel, 2016 – 2026
6.1 Market Analysis
6.2 Original Equipment Manufacturers (OEMs)
6.3 Aftermarket

Chapter 7 Global Electric Vehicle Battery Analysis, By Application, 2016 – 2026
7.1 Market Analysis
7.2 Passenger Car
7.3 Commercial Vehicle

Chapter 8 North America Electric Vehicle Battery Analysis, 2016 – 2026
8.1 Overview
8.2 North America Electric Vehicle Battery Analysis, By Vehicle Type, 2016 – 2026
8.2.1 Market Analysis
8.3 North America Electric Vehicle Battery Analysis, By Battery Type, 2016 – 2026
8.3.1 Market Analysis
8.4 North America Electric Vehicle Battery Analysis, By Sales Channel, 2016 – 2026
8.4.1 Market Analysis
8.5 North America Electric Vehicle Battery Analysis, By Application, 2016 – 2026
8.5.1 Market Analysis
8.6 North America Electric Vehicle Battery Analysis, By Country, 2016 – 2026
8.6.1 U.S.
8.6.2 Canada

Chapter 9 Europe Electric Vehicle Battery Analysis, 2016 – 2026
9.1 Overview
9.2 Europe Electric Vehicle Battery Analysis, By Vehicle Type, 2016 – 2026
9.2.1 Market Analysis
9.3 Europe Electric Vehicle Battery Analysis, By Battery Type, 2016 – 2026
9.3.1 Market Analysis
9.4 Europe Electric Vehicle Battery Analysis, By Sales Channel, 2016 – 2026
9.4.1 Market Analysis
9.5 Europe Electric Vehicle Battery Analysis, By Application, 2016 – 2026
9.5.1 Market Analysis
9.6 Europe Electric Vehicle Battery Analysis, By Country, 2016 – 2026
9.6.1 U.K.
9.6.2 Germany
9.6.3 France
9.6.4 Rest of Europe

Chapter 10 Asia Pacific Electric Vehicle Battery Analysis, 2016 – 2026
10.1 Overview
10.2 Asia Pacific Electric Vehicle Battery Analysis, By Vehicle Type, 2016 – 2026
10.2.1 Market Analysis
10.3 Asia Pacific Electric Vehicle Battery Analysis, By Battery Type, 2016 – 2026
10.3.1 Market Analysis
10.4 Asia Pacific Electric Vehicle Battery Analysis, By Sales Channel, 2016 – 2026
10.4.1 Market Analysis
10.5 Asia Pacific Electric Vehicle Battery Analysis, By Application, 2016 – 2026
10.5.1 Market Analysis
10.6 Asia Pacific Electric Vehicle Battery Analysis, By Country, 2016 – 2026
10.6.1 China
10.6.2 Japan
10.6.3 India
10.6.4 Rest of Asia Pacific

Chapter 11 Rest of the World (RoW) Electric Vehicle Battery Analysis, 2016 – 2026
11.1 Overview
11.2 Rest of the World (RoW) Electric Vehicle Battery Analysis, By Vehicle Type, 2016 – 2026
11.2.1 Market Analysis
11.3 Rest of the World (RoW) Electric Vehicle Battery Analysis, By Battery Type, 2016 – 2026
11.3.1 Market Analysis
11.4 Rest of the World (RoW) Electric Vehicle Battery Analysis, By Sales Channel, 2016 – 2026
11.4.1 Market Analysis
11.5 Rest of the World (RoW) Electric Vehicle Battery Analysis, By Application, 2016 – 2026
11.5.1 Market Analysis
11.6 Rest of the World (RoW) Electric Vehicle Battery Analysis, By Country, 2016 – 2026
11.6.1 Middle East & Africa
11.6.2 Latin America

Chapter 12 Company Profiles
12.1 AESC
12.2 Panasonic
12.3 Mitsubishi
12.4 BYD
12.5 LG Chem
12.6 Wanxiang
12.7 Samsung
12.8 Tianneng
12.9 Beijing Pride Power
12.10 Boston-Power, Inc.

FIG. 1 Global Electric Vehicle Battery : Market Segmentation
FIG. 2 Global Electric Vehicle Battery: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global Electric Vehicle Battery, By Vehicle Type, 2017 (US$ Bn)
FIG. 5 Global Electric Vehicle Battery, By Battery Type, 2017 (US$ Bn)
FIG. 6 Global Electric Vehicle Battery, By Sales Channel, 2017 (US$ Bn)
FIG. 7 Global Electric Vehicle Battery, By Application, 2017 (US$ Bn)
FIG. 8 Global Electric Vehicle Battery, By Geography, 2017 (US$ Bn)
FIG. 9 Global Electric Vehicle Battery Value, 2016 – 2026, (US$ Bn)
FIG. 10 Attractive Investment Proposition, by Geography
FIG. 11 Market Positioning of Key Electric Vehicle Battery Players, 2017
FIG. 12 Global Electric Vehicle Battery Value Contribution, By Vehicle Type, 2017 & 2026 (%)
FIG. 13 Global Electric Vehicle Battery Value for Battery Electric Vehicle, 2016 – 2026, (US$ Bn)
FIG. 14 Global Electric Vehicle Battery Value for Hybrid Electric Vehicle, 2016 – 2026, (US$ Bn)
FIG. 15 Global Electric Vehicle Battery Value for Plug-in Hybrid Electric Vehicle, 2016 – 2026, (US$ Bn)
FIG. 16 Global Electric Vehicle Battery Value Contribution, By Battery Type, 2017 & 2026 (%)
FIG. 17 Global Electric Vehicle Battery Value for Lead Acid Battery, 2016 – 2026, (US$ Bn)
FIG. 18 Global Electric Vehicle Battery Value for Nickel Metal Hydride Battery, 2016 – 2026, (US$ Bn)
FIG. 19 Global Electric Vehicle Battery Value for Plug-in Hybrid Electric Vehicle, 2016 – 2026, (US$ Bn)
FIG. 20 Global Electric Vehicle Battery Value Contribution, By Sales Channel, 2017 & 2026 (%)
FIG. 21 Global Electric Vehicle Battery Value from OEMs, 2016 – 2026, (US$ Bn)
FIG. 22 Global Aftermarket Electric Vehicle Battery Value, 2016 – 2026, (US$ Bn)
FIG. 23 Global Electric Vehicle Battery Value Contribution, By Application, 2017 & 2026 (%)
FIG. 24 Global Electric Vehicle Battery Value from Passenger Car, 2016 – 2026, (US$ Bn)
FIG. 25 Global Electric Vehicle Battery Value from Commercial Vehicle, 2016 – 2026, (US$ Bn)
FIG. 26 North America Electric Vehicle Battery Value, 2016 – 2026, (US$ Bn)
FIG. 27 Europe Electric Vehicle Battery Value, 2016 – 2026, (US$ Bn)
FIG. 28 Asia Pacific Electric Vehicle Battery Value, 2016 – 2026, (US$ Bn)
FIG. 29 RoW Electric Vehicle Battery Value, 2016 – 2026, (US$ Bn)

TABLE 1 Market Snapshot: Global Electric Vehicle Battery
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 North America Electric Vehicle Battery Value, By Vehicle Type, 2016 – 2026 (US$ Bn)
TABLE 5 North America Electric Vehicle Battery Value, By Battery Type, 2016 – 2026 (US$ Bn)
TABLE 6 North America Electric Vehicle Battery Value, By Sales Channel, 2016 – 2026 (US$ Bn)
TABLE 7 North America Electric Vehicle Battery Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 8 North America Electric Vehicle Battery Value, By Country, 2016 – 2026 (US$ Bn)
TABLE 9 Europe Electric Vehicle Battery Value, By Vehicle Type, 2016 – 2026 (US$ Bn)
TABLE 10 Europe Electric Vehicle Battery Value, By Battery Type, 2016 – 2026 (US$ Bn)
TABLE 11 Europe Electric Vehicle Battery Value, By Sales Channel, 2016 – 2026 (US$ Bn)
TABLE 12 Europe Electric Vehicle Battery Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 13 Europe Electric Vehicle Battery Value, By Country, 2016 – 2026 (US$ Bn)
TABLE 14 Asia Pacific Electric Vehicle Battery Value, By Vehicle Type, 2016 – 2026 (US$ Bn)
TABLE 15 Asia Pacific Electric Vehicle Battery Value, By Battery Type, 2016 – 2026 (US$ Bn)
TABLE 16 Asia Pacific Electric Vehicle Battery Value, By Sales Channel, 2016 – 2026 (US$ Bn)
TABLE 17 Asia Pacific Electric Vehicle Battery Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 18 Asia Pacific Electric Vehicle Battery Value, By Country, 2016 – 2026 (US$ Bn)
TABLE 19 Rest of the World (Row) Electric Vehicle Battery Value, By Vehicle Type, 2016 – 2026 (US$ Bn)
TABLE 20 Rest of the World (Row) Electric Vehicle Battery Value, By Battery Type, 2016 – 2026 (US$ Bn)
TABLE 21 Rest of the World (Row) Electric Vehicle Battery Value, By Sales Channel, 2016 – 2026 (US$ Bn)
TABLE 22 Rest of the World (Row) Electric Vehicle Battery Value, By Application, 2016 – 2026 (US$ Bn)
TABLE 23 Rest of the World (Row) Electric Vehicle Battery Value, By Country, 2016 – 2026 (US$ Bn)
TABLE 24 Inalfa Roof Systems: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 25 AESC: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 26 Panasonic: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 27 Mitsubishi: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 28 BYD: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 29 LG Chem: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 30 Wanxiang: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 31 Samsung: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 32 Tianneng: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 33 Beijing Pride Power: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)
TABLE 34 Boston-Power, Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Recent Developments)

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