Electric Vehicle Battery Pack Market Scope
The number of electric vehicles (EVs) has steadily increased over the last several decades. The lithium-ion (Li-ion) battery, which provides the essential energy storage, lies at the heart of these modern vehicles. With greater drive range per recharge, EVs are becoming more popular. High energy density, power density, cycle life, safety, and cheap cost are all desirable characteristics of electric vehicle batteries. New cell chemistries are being developed in order to make batteries smaller, lighter, and capable of storing enough energy for EVs to compete with traditional vehicles. Lithium-ion batteries are the most common EV batteries on the market right now. Lithium-ion refers to a large group of cell chemistries defined by the cathode material and the transfer of lithium ions between electrodes during charge/discharge events. and .
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Contemporary Amperex Technology Co., Limited. (China), Samsung SDI Co (South Korea), Panasonic Corporation (Japan), BYD Company Ltd. (China), Primearth EV Energy Co., Ltd. (Japan), Lithium Energy Japan Corporation (Japan), Vehicle Energy Japan Co. Ltd. (Japan), Toshiba Corporation (Japan), Mitsubishi Corporation (Japan) and ENVISION AESC Group Ltd. (Japan) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that Japanese Manufacturers will contribute to the maximum growth of Global Electric Vehicle Battery Pack market throughout the predicted period.
Contemporary Amperex Technology Co., Limited. (China), Samsung SDI Co (South Korea), Panasonic Corporation (Japan), BYD Company Ltd. (China), Primearth EV Energy Co., Ltd. (Japan), Lithium Energy Japan Corporation (Japan), Vehicle Energy Japan Co. Ltd. (Japan), Toshiba Corporation (Japan), Mitsubishi Corporation (Japan) and ENVISION AESC Group Ltd. (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are LG Chem Ltd. (South Korea), GS Yuasa Corporation (Japan), A123 Systems, LLC (United States), Exide Industries Limited (India) and SK Innovation Co (South Korea).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Electric Vehicle Battery Pack market by Type and Region with country level break-up.
On the basis of geography, the market of Electric Vehicle Battery Pack has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October 2023, Electric-vehicle maker VinFast has acquire battery maker VinES Auto in ES from its founder Pham Nhat Vuong as it seeks to ramp up its integration in the production value chain and competitive advantage. The acquisition of VinES will help VinFast control our battery technology and supply chain.
On 15th August, 2020 – Contemporary Amperex Technology Co., Limited. (CATL) Announced Development of New EV Battery With No Nickel, Cobalt. CATL is a Leading Supplier to EV Giant Tesla, Toyota Motors, Honda Motors and Volkswagen AG. The New Batteries Are Designed to Cut Manufacturing Costs Due to Scarcity of Nikel, and Cobalt. and On 9th April, 2021 - BYD Introduced Four Bevs Fitted with The Blade Battery. With up to 110 kW Direct Current, The New Tang EV Should Be Able to Charge From 30 to 80 Percent In 30 Minutes. The 30 Minutes Aren't Directly Comparable to Other Manufacturers' Standards, As It Is Only Charging At 50% Capacity.
Influencing Trend:
High Investment in Battery Technology
Market Growth Drivers:
Surge in Demand for Electric Vehicles Globally and Increasing Application Across Different Industry Verticals
Challenges:
Raw Material Price Fluctuation
Restraints:
High Initial Investment and Technological Limitations
Opportunities:
Increasing Electronics Infrastructure Across Emerging Regions
Key Target Audience
Electric Vehicle Battery Pack Manufactures, New Entrants and Investors, Electric Vehicle Battery Pack Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others