Market Insights & Analysis: The Global EV Battery Market (2024-30):
MarkNtel Advisors has published a research report on the Global EV Battery Market for the forecast years, 2024-30. This research is a dependable reference for assessing historical and future data, developmental trends, and prevailing industry catalysts. Recognizing the growing demand for market research across various sectors, a comprehensive study has been formulated addressing diverse topics. Through qualitative and quantitative data, this report effectively covers key alterations, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges.
Global EV Battery Market Overview:
According to the latest report from MarkNtel Advisors, 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. This comprehensive analysis contains key insights into market trends, size, projections, growth catalysts, challenges, and competitor assessments.
The report offers an in-depth evaluation of the Global EV Battery Market, presenting the latest developments and providing an overview of the current market scenario. With markets gradually recovering from the impact of the pandemic, there is a notable stabilization or even an increase in disposable income in developing nations, driving the market’s momentum.
Global EV Battery Market Opportunity:
Emergence of Battery-as-a-Service Model – The Battery-as-a-service model is emerging as a concrete approach and solution to the high cost of electric vehicles worldwide. The model allows the consumers to subscribe or lease the electric vehicle battery separately from the vehicle itself, thereby reducing the overall cost of electric vehicles and increasing overall affordability. Moreover, the concerns about battery degradation and high replacement costs are also alleviated by the BaaS model, as the service providers handle all these maintenance and upgrade costs. Various automobile manufacturers, start-ups, battery providers, etc., have been providing this model under their offerings to reduce the cost burden on consumers prompting electric vehicle adoption globally.
These models would be more economically viable for the consumers. As a result, they would continue to adopt the BaaS services. Along with it, this service model addresses the concerns about battery longevity, health, performance, degradation, replacements, etc., which would help to gain consumer trust and confidence. This, in turn, would create significant market opportunities in the Global Electric Vehicle Battery Market and surge market growth in forecast years.
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Global EV Battery Market Segmentation Analysis:
This thorough analysis of the Global EV Battery Market facilitates the identification of significant market factors. The report delves into key market segments and the regional analysis outlined within this research, which will significantly aid industry players in refining their consumer targeting, strategic positioning, and overall business expansion efforts. The Market exhibits a high degree of fragmentation, categorizing into distinct segments as follows:
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)
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)
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
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Analysis of Global EV Battery Market Share:
The competitive landscape of the Global EV Battery Market is dissected through a thorough competitor analysis. This includes detailed insights into each company’s profile, financial performance, market share, potential, Research and Development (R&D) investments, recent market initiatives, reach, strengths and weaknesses, as well as product/service launches and dominance. The information outlined above offers a comprehensive overview of the prominent market players, including,
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.
Frequently Asked Questions (FAQs)
- What key forces are steering the dynamics of the Global EV Battery Market?
- What potential opportunities and obstacles can be identified on the horizon?
- How might regulatory changes impact the Global EV Battery industry’s trajectory?
- What are the anticipated technological advancements shaping the future of the Global EV Battery Market?
- Who are the key players profiled in the Global EV Battery Market research report?
- What is the estimated valuations in USD, and CAGR for the forecast years?
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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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