EV Battery Market

EV Battery Market by Battery Capacity (<50, 50-110, 111-200, 201-300 and >300), Method (Wire, Laser), Propulsion (BEV, PHEV, HEV, FCEV), Battery Type, Material Type, Li-ion Battery Component, Battery Form, Vehicle Type & Region - Global Forecast to 2027

Report Code: AT 7840 Sep, 2022, by marketsandmarkets.com

[342 Pages Report] The global EV battery market is projected to grow at a CAGR of 19.0% from USD 56.4 billion in 2022 to USD 134.6 billion by 2027. The market for EV batteries is being driven by factors such as rising demand for electric vehicles, advancements in battery technology, favourable government policies and regulations, and the introduction of new plug-in EV models.

Governments all over the world are promoting the adoption of vehicles utilising alternative fuels as a result of the rising concerns regarding the environmental impact of conventional automobiles. EVS are zero-emission cars that are becoming more and more popular for eco-friendly public transportation worldwide. To promote the use of EVs, several national governments provide financial incentives such tax exemptions and refunds, subsidies, decreased parking/toll rates for EVs, and free charging. As a result, the demand for EV batteries is increasing quickly across the board.

EV Battery Market

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Market Dynamics:

Driver: Increasing demand for electric vehicles

Governments all across the world are promoting the use of vehicles that run on alternative fuels as environmental worries about conventional automobiles continue to rise. EVs are zero-emission vehicles that are becoming more and more popular for eco-friendly public transportation worldwide. To promote the use of EVS, several national governments provide financial incentives such tax exemptions and refunds, subsidies, decreased parking/toll rates for EVs, and free charging.

Leading EV markets like China, the US, and Germany are spending heavily in EV charging infrastructure in addition to R&D for quicker and more effective charging techniques. Automakers are anticipated to make large expenditures to meet the growing demand for EVs and to shape the industry. For the development of EVs, companies like Tesla, Volkswagen, Ford, Nissan, BMW, and General Motors have large R&D budgets.

OEMs provide a wide selection of electric vehicles, ranging from compact hatchbacks like the Leaf to luxurious sedans like the Tesla Model 3. Due to the large number of consumers drawn by the variety of product options, the market for electric vehicles has grown. For instance, GM announced plans to invest USD 35 billion in October 2021, with the goal of developing and selling more than one million EVs and other technologies by 2025. By 2035, the corporation wants to be all electric. Ford said in November 2021 that it would boost its annual EV production capacity to 600,000 by 2023. By 2030, it intends to provide 40% electric vehicles. Volkswagen also disclosed intentions to invest USD 86.3 billion to advance its EV aspirations by 2030. Other businesses have also made substantial advancements and plans for the anticipated EV demand in the next 5–10 years, including Tesla, Nissan, and BMW. 

Restraint: Concerns over battery safety  Procurement concerns related to raw materials

  • Cobalt extraction facilities are concentrated in Congo and China. Together, both countries extract around 70–80% of the total cobalt mined. This increases the risk of supply disruption of cobalt in case of any uncertainty in these countries.
  • Cobalt currently presents the greatest procurement risks of all the battery raw materials. This is due to the expected dynamic growth in demand and the resulting potential supply bottlenecks.
  • In lithium-ion batteries, graphite is utilised as the anode material. Of all the battery raw materials, it has the biggest volumetric proportion and contributes significantly to the cost of making cells. China has dominated practically the whole supply chain for many years and produces 70% of the flake graphite, which needs to be treated before being used in batteries, and approximately 50% of the synthetic graphite utilised in those batteries. Exploration has gotten more and more active in recent years, especially in Africa. New extraction locations in Tanzania, Madagascar, and Mozambique could ease the strain on the heavily consolidated global market.
  • Currently, just a few firms and Australia, Chile, and Argentina are allowed to harvest lithium, and only four companies control over 60% of the world's supply. However, the recent lithium boom has shown that the lithium industry is undergoing significant upheaval. Large-scale projects are being planned and carried out in other nations, like Canada, Mexico, and Bolivia, in addition to the expansion of current facilities.
  • The market for nickel is heavily reliant on the supply of primary nickel from Southeast Asia, particularly from Indonesia, which is the nation that produces the vast majority of nickel. In order to ensure that a significant portion of the value chain stayed within Indonesia, Indonesia placed a prohibition on the export of nickel ore in 2020.

Opportunity: Introduction of the battery-as-a-service model (BaaS)

Companies are coming up with business models like battery swapping and battery-as-a-service (BaaS) that allow users to change/swap EV batteries once discharged. This saves users the time spent on recharging the batteries, thereby improving customer satisfaction and addressing one of the main reasons consumers refrain from opting for EVs.

battery swapping at EV charging stations has grown as it eliminates the time for charging batteries for EV users. While the market is still developing for EV cars outside China, it has shown its potential due to high demand in China. While Level 3 EV charging can charge an EV in around 30 mins to one hour and ultra-fast charging can also provide charging in 15-30 minutes, their long-term use damages the EV batteries. Thus, battery swapping came up as an alternative for fast charging stations and its demand has grown over the past few years. NIO, for instance, installed over 300 battery swapping stations by July 2021 and plans to install around 4,000 more by 2025 in China. Its swapping stations have already been in use around 2.9 million times by July 2021 in the global market, with around 1,000 battery swapping stations planned outside China. Shell signed an agreement with NIO in November 2021 to jointly develop such battery swapping EV charging stations. This has created a new opportunity for the battery as a service in EV charging.

Challenge: High cost of electric vehicles compared to ICE

The high manufacturing cost of EVs has been a major concern in their widespread adoption. The expected decline in battery prices and reduced R&D costs are likely to decrease the overall cost of purchasing electric hatchbacks, crossovers, or SUVs to reach the levels of ICE vehicles, leading to the rising demand for EVs. The cost of EVs is significantly high compared to that of ICE vehicles due to the high price of rechargeable lithium-ion batteries required for these vehicles. The cathode price affects the price of the batteries to a great extent because raw materials such as cobalt, nickel, lithium, and magnesium are expensive. The cost of EV production is also significantly high compared to ICE vehicles due to the expensive process involved in developing these vehicles. The cost of developing higher range EVs is significantly higher due to the requirement of higher specification batteries, advanced technology used for production, and highly expensive components used in the vehicles.

The passenger cars segment is expected to be the largest vehicle type market

By vehicle type, the passenger cars segment is expected to dominate the EV battery market during the forecast period. The adoption of electric passenger cars in different cities is expected to accelerate at a fast rate.

The country's abundance of major EV producers like BYD, Byton, BAIC, and Geely, who produce EV passenger cars in significant quantities, can also be credited with the fast growth of the passenger car market. Due to the introduction of emission standards by numerous governments throughout the world, the passenger car category is anticipated to dominate the EV battery market over the forecast period. The prospect for growth for batteries grows since the production of electric passenger cars continues to be the highest among all other EV kinds.

The 50-110 kWh segment in battery capacity will be leading the EV battery market during the forecast period

The 50-110 KWh segment of the market is estimated to be the largest. Most of the batteries used in electric vehicles operate at a range from 50-110 kilowatt-hours (kWh). Generally, the battery capacity usage depends on the development of the EV fleet as well as the required battery capacity per vehicle, which is generally above 50 kWh and 12 kWh for BEVs and PHEVs, respectively. A major advantage of the 50-110 kWh battery is the fast charging at a low price and high energy efficiency. As a result, major players of the EV market have deployed 50-110 kWh of battery capacity to stay in the competition. For example, Tesla Model S, Tesla Model X, Tesla Model 3, and Chevrolet’s Bolt EV have their battery capacity range between 50-110 kWh.

EV Battery Market Size, and Share

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Key Market Players

The global EV battery market is dominated by major players CATL (China), Panasonic Holdings Corporation (Japan), LG Chem (South Korea), BYD (China), and Samsung SDI (South Korea). The key strategies adopted by these companies to sustain their market position are new product developments,mergers & acquisitions, supply contracts, partnerships, expansions, collaborations, acquisitions, and contracts & agreements.

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Scope of the Report

Report Metric

Details

Market size available for years

2022–2027

Base year considered

2021

Forecast period

2022-2027

Forecast units

Value (USD Million/Billion) and Volume (Units)

Segments covered

Battery Type, Li-Ion Battery Component, Propulsion, Vehicle Type, Method, Battery Capacity, Material Type, Battery Form, And Region

Geographies covered

Asia Pacific, Europe, and North America

Companies Covered

CATL (China), Panasonic Holdings Corporation (Japan), LG Chem (South Korea), BYD (China), and Samsung SDI (South Korea)
 A total of 23 major company profiles covered and provided

This research report categorizes the EV battery market based on battery type, li-ion battery component, propulsion, vehicle type, method, battery capacity, material type, battery form, and region.

Based on the Battery Type:

  • Lead-acid
  • Lithium-ion
  • Nickel-metal Hydride
  • Sodium-ion
  • Solid-state

Based on the Li-ion battery component:

    • Positive Electrode
    • Negative Electrode
    • Electrolyte
    • Separator

Based on the propulsion:

  • BEV
  • HEV
  • PHEV
  • FCEV

Based on the vehicle type:

  • Passenger Cars
  • Vans/Light Trucks
  • Medium & Heavy Trucks
  • Buses
  • Off-highway Vehicles

Based on the method:

  • Wire Bonding
  • Laser Bonding

Based on the battery capacity:

  • <50 kWh
  • 50-110 kWh
  • 111-200 kWh
  • 201-300 kWh
  • >300 kWh

Based on the battery form:

  • Prismatic
  • Cylindrical
  • Pouch

Based on the material type:

  • Lithium
  • Cobalt
  • Manganese
  • Natural Graphite

Based on the region:

  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Thailand
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • United Kingdom
    • Sweden
    • Denmark
    • Norway

Recent Developments

  • In July 2022 Samsung SDI began the construction of its second battery production facility in Seremban, Malaysia. This plant will start producing PRiMX 21700 cylindrical batteries in 2024. The company will invest USD 1.4 billion in stages till 2025. The batteries produced at the plant will be primarily used for electric vehicles (EV), micro mobility, and various other applications.
  • In June 2022 Heilongjiang Transport Development Co., Ltd. (Heilongjiang Transport) announced a partnership with Contemporary Amperex Technology Co., Ltd. (CATL). Both the players are conducting surveys in several sectors for cooperation, involving battery charging and swapping for heavy trucks, battery swapping for online ride-hailing cabs, battery charging and swapping for cruising cabs, and photovoltaic power.
  • In May 2022 CATL partnered with European leading electric bus manufacturer Solaris to promote electrification of city transportation in Europe. CATL will be supplying lithium iron phosphate (LFP) batteries equipped with novel Cell to Pack (CTP) technology to Solaris to power its bus models.
  • In December 2021 CATL and Fisker Inc. has signed an agreement. Under the agreement, CATL will provide two battery solutions for the Fisker Ocean SUV from 2023 to 2025 with an initial battery capacity of over 5GWh annually. The battery packs provided by CATL will include large NMC (nickel manganese cobalt) battery packs and small LFP (lithium-ion phosphate) battery packs.
  • In August 2020, CATL announced to develop a new EV battery with no nickel or cobalt in it. The company focuses to save a major portion of the cost with this development as cobalt is one of the most expensive components in an EV battery.  
  • In November 2020, Samsung SDI announced that it will be commercializing a li-ion battery product that would replace liquid electrolyte in a battery cell with a solid electrolyte, which improves battery performance.
  • In March 2020, BYD announced the launch of a blade battery system, which consists of thin individual batteries. The thickness of a single battery is around 1.35 cm and occupies 50% less space than earlier products.
  • In July 2020, Panasonic Holdings Corporation announced the development of a technique to visualize lithium-ion dynamics in all-solid-state batteries on a nanometer scale in real-time, in collaboration with Japan Fine Ceramics Center (JFCC) and Institute of Materials and Systems for Sustainability, Nagoya University. The technique, which makes use of scanning transmission electron microscopy (STEM) and machine learning, was applied to both bulk-type and thin-film-type all-solid-state lithium-ion batteries.
  • In December 2019, Samsung SDI acquired an additional 15% stake in Samsung SDI-ARN (Xi'an) Power Battery Co., Ltd (SAPB) making it the majority stakeholder in the company with 65% of ownership. SAPB was initially found in 2014 by Samsung SDI Anqing Ring New Group and Xi’an Gaoke Group.
  • In July 2020, LG Chem declared that it would reuse and recycle its used batteries proactively. LG Chem would research and develop technologies to predict the remaining life by collecting the batteries supplied to customers.
  • In October 2020, CATL and RCS Global Group announced a partnership that would identify CATL’s cobalt, lithium, and graphite suppliers. The partnership would expand to cover aluminum, copper manganese, and nickel suppliers in the future. RCS Global would assess the suppliers for conformance with environmental and human rights requirements and work with CATL and the suppliers to develop a responsible supply chain.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 26)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION
           1.2.1 EV BATTERY MARKET DEFINITION, BY BATTERY TYPE
           1.2.2 EV BATTERY MARKET DEFINITION, BY LI-ION BATTERY COMPONENT
           1.2.3 EV BATTERY MARKET DEFINITION, BY PROPULSION
           1.2.4 EV BATTERY MARKET DEFINITION, BY VEHICLE TYPE
           1.2.5 EV BATTERY MARKET DEFINITION, BY MATERIAL TYPE
           1.2.6 EV BATTERY MARKET DEFINITION, BY METHOD
           1.2.7 EV BATTERY MARKET DEFINITION, BY BATTERY FORM
    1.3 INCLUSIONS & EXCLUSIONS
           TABLE 1 INCLUSIONS & EXCLUSIONS FOR EV BATTERY MARKET
    1.4 MARKET SCOPE
           FIGURE 1 MARKET SEGMENTATION: EV BATTERY MARKET
           1.4.1 YEARS CONSIDERED
    1.5 CURRENCY CONSIDERED
           TABLE 2 CURRENCY EXCHANGE RATES (PER USD)
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 35)
    2.1 RESEARCH DATA
           FIGURE 2 RESEARCH DESIGN
           FIGURE 3 RESEARCH METHODOLOGY MODEL
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 List of participating companies for primary research
                    2.1.2.3 Key industry insights
                               FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
                    2.1.2.4 List of primary participants
    2.2 MARKET ESTIMATION METHODOLOGY
           FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 6 GLOBAL EV BATTERY MARKET SIZE: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY FOR EV BATTERY MARKET: TOP-DOWN APPROACH
                    FIGURE 8 EV BATTERY MARKET: RESEARCH METHODOLOGY ILLUSTRATION OF SAMSUNG SDI REVENUE ESTIMATION
           2.3.3 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES
    2.4 DATA TRIANGULATION
           FIGURE 9 DATA TRIANGULATION
    2.5 FACTOR ANALYSIS
    2.6 RESEARCH ASSUMPTIONS
    2.7 RISK ASSESSMENT
    2.8 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 50)
    FIGURE 10 PASSENGER CARS SEGMENT ESTIMATED TO LEAD MARKET FROM 2022 TO 2027
    FIGURE 11 EV BATTERY MARKET, BY REGION, 2022–2027

4 PREMIUM INSIGHTS (Page No. - 52)
    4.1 OPPORTUNITIES FOR PLAYERS IN EV BATTERY MARKET
           FIGURE 12 INCREASING ADOPTION OF ELECTRIC VEHICLES AND GROWING GOVERNMENT INCENTIVES TO DRIVE MARKET
    4.2 EV BATTERY MARKET, BY VEHICLE TYPE
           FIGURE 13 PASSENGER CARS SEGMENT EXPECTED TO DOMINATE MARKET DURING FORECAST PERIOD
    4.3 EV BATTERY MARKET, BY PROPULSION
           FIGURE 14 FCEV SEGMENT PROJECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
    4.4 EV BATTERY MARKET, BY BATTERY FORM
           FIGURE 15 PRISMATIC SEGMENT EXPECTED TO LEAD MARKET FROM 2022 TO 2027
    4.5 EV BATTERY MARKET, BY MATERIAL
           FIGURE 16 LITHIUM SEGMENT ESTIMATED TO LEAD MARKET IN 2022
    4.6 EV BATTERY MARKET, BY LI-ION BATTERY COMPONENT
           FIGURE 17 ELECTROLYTE SEGMENT PROJECTED TO LEAD MARKET FROM 2022 TO 2027
    4.7 EV BATTERY MARKET, BY BATTERY CAPACITY
           FIGURE 18 50–110 KWH SEGMENT EXPECTED TO LEAD MARKET DURING FORECAST PERIOD
    4.8 EV BATTERY MARKET, BY BATTERY TYPE
           FIGURE 19 LITHIUM-ION BATTERY SEGMENT ESTIMATED TO BE LARGEST BATTERY TYPE SEGMENT IN 2022
    4.9 EV BATTERY MARKET, BY REGION
           FIGURE 20 ASIA PACIFIC ESTIMATED TO ACCOUNT FOR LARGEST MARKET SHARE IN 2022

5 MARKET OVERVIEW (Page No. - 57)
    5.1 INTRODUCTION
           TABLE 3 IMPACT OF MARKET DYNAMICS
    5.2 MARKET DYNAMICS
           FIGURE 21 EV BATTERY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing demand for electric vehicles
                               FIGURE 22 BEV, HEV, AND PHEV SALES DATA FOR MAJOR COUNTRIES, THOUSAND UNITS (2019–2021)
                    5.2.1.2 Improvements in battery technology
                               TABLE 4 EV BATTERY IMPROVEMENTS/INNOVATIONS
                               FIGURE 23 DAWN OF EUROPEAN GIGAFACTORIES: ANNOUNCED LITHIUM-ION BATTERY CELL PRODUCTION SITES
                    5.2.1.3 Faster charging speed to enable plug and charge use of EVs
                               FIGURE 24 TIME REQUIRED TO CHARGE ELECTRIC VEHICLES
                    5.2.1.4 Government policies and regulations
                               FIGURE 25 EV-RELATED POLICIES ACROSS MAJOR MARKETS
                               TABLE 5 GOVERNMENT INITIATIVES (2019–2022)
                    5.2.1.5 Launch of new plug-in models by major EV manufacturers
                               TABLE 6 LATEST EV MODELS BY OEMS
                               TABLE 7 PARTNERSHIPS AND SUPPLY CONTRACTS BY OEMS
           5.2.2 RESTRAINTS
                    5.2.2.1 Procurement concerns related to raw materials
                               FIGURE 26 COBALT RESERVES, BY COUNTRY
                               FIGURE 27 LITHIUM RESERVES, BY COUNTRY
                    5.2.2.2 Lack of charging infrastructure
                               FIGURE 28 RATIO OF PUBLIC CHARGERS PER EV STOCK, BY COUNTRY (2020)
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rising electric micromobility
                               TABLE 8 COUNTRY-WISE GOVERNMENT INCENTIVES AND SUBSIDIES
                    5.2.3.2 Introduction of battery-as-a-service (BaaS) models
                               FIGURE 29 BATTERY-AS-A-SERVICE IN EV CARS
           5.2.4 CHALLENGES
                    5.2.4.1 High initial investments and high cost of electricity
                               TABLE 9 GLOBAL AVERAGE ELECTRICITY COST, 2020–2021
                    5.2.4.2 Bottlenecks in battery charging
                               FIGURE 30 OVERVIEW OF FAST AND SLOW PUBLIC CHARGERS, BY COUNTRY (2015–2021)
                    5.2.4.3 Concerns over battery safety
                    5.2.4.4 High cost of electric vehicles compared to ICE
                               FIGURE 31 COST COMPARISON OF ELECTRIC VEHICLES AND ICE VEHICLES
    5.3 TRENDS AND DISRUPTIONS
           FIGURE 32 TRENDS AND DISRUPTIONS
    5.4 PATENT ANALYSIS
           TABLE 10 PATENT ANALYSIS: EV BATTERY MARKET (ACTIVE PATENTS)
           FIGURE 33 NUMBER OF ACTIVE PATENTS RELATED TO EV BATTERIES (2010–2022)
           FIGURE 34 PATENTS PUBLISHED BY MAJOR COMPANIES IN EV ECOSYSTEM (2012–2021)
    5.5 VALUE CHAIN ANALYSIS
           FIGURE 35 EV BATTERY MARKET: VALUE CHAIN ANALYSIS
           FIGURE 36 LITHIUM-ION BATTERY MARKET: VALUE CHAIN ANALYSIS
    5.6 TECHNOLOGY ANALYSIS
           5.6.1 INTRODUCTION
           5.6.2 IMPROVEMENT IN BATTERY COMPOSITION
           5.6.3 IMPROVEMENT IN BATTERY CHARGING RATE
                    FIGURE 37 CHARGING TIME FOR CARS, BY MODEL (IN HOURS)
           5.6.4 BATTERY DESIGN AND LOCATION IN EV
           5.6.5 BATTERY-RELATED SERVICES
           5.6.6 BATTERY OPTIMIZATION
           5.6.7 CELL-TO-PACK TECHNOLOGY
           5.6.8 AB BATTERY SYSTEM
           5.6.9 SODIUM-ION BATTERY
    5.7 AVERAGE SELLING PRICE FOR EV BATTERY RAW MATERIALS
           FIGURE 38 PRICE OF EV BATTERY PER KWH
           FIGURE 39 COST PER KWH OF MAJOR RAW MATERIALS USED IN EV BATTERIES (2021)
           FIGURE 40 COST BREAKDOWN OF CELL, BY MATERIALS/COMPONENTS (2021)
           FIGURE 41 TOTAL COST OF LITHIUM-ION BATTERY CELL (2021)
           FIGURE 42 LITHIUM-ION BATTERY PRICE TREND, 2013–2021 (USD/KWH)
    5.8 TRADE/SALES DATA
           TABLE 11 ELECTRIC VEHICLE MARKET: TRADE DATA FOR MOTOR VEHICLES IN 2021 (HS 8703)
    5.9 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 43 PORTER’S FIVE FORCES: EV BATTERY MARKET
           TABLE 12 EV BATTERY MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.9.1 THREAT OF NEW ENTRANTS
                    5.9.1.1 Major automobile giants entering EV market
                    5.9.1.2 Emergence of new companies
                    5.9.1.3 Incentives by governments for EV battery manufacturing
                    5.9.1.4 Strict safety regulations
           5.9.2 THREAT OF SUBSTITUTES
                    5.9.2.1 Types of automobile batteries
                    5.9.2.2 Threat of substitution of lithium-ion batteries
                    5.9.2.3 Development of new types of batteries
                    5.9.2.4 Development of alternative clean-fuel vehicles
           5.9.3 BARGAINING POWER OF BUYERS
                    5.9.3.1 Declining prices of EV batteries
                    5.9.3.2 Increased demand for EV batteries
                    5.9.3.3 Major buyers of EV batteries
                    5.9.3.4 Increasing demand for micromobility
                    5.9.3.5 Demand for EVs for public transportation
           5.9.4 BARGAINING POWER OF SUPPLIERS
                    5.9.4.1 Change in demand for major raw materials
                    5.9.4.2 Prices of major raw materials
                    5.9.4.3 Emphasis on eliminating requirement of certain raw materials
                    5.9.4.4 Limited sources and non-uniform distribution of raw materials
           5.9.5 INTENSITY OF COMPETITIVE RIVALRY
                    5.9.5.1 Currently limited number of major players
                    5.9.5.2 Exceptional growth of certain companies
                    5.9.5.3 Heavy R&D in battery technology
                    5.9.5.4 Requirement of technical know-how
                    5.9.5.5 Entry of large automakers into EV market
           5.9.6 KEY STAKEHOLDERS IN BUYING PROCESS
                    TABLE 13 INFLUENCE OF KEY STAKEHOLDERS IN BUYING EV BATTERIES
           5.9.7 BUYING CRITERIA
                    TABLE 14 KEY BUYING CRITERIA
    5.10 MACROECONOMIC INDICATORS
           5.10.1 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES
                    TABLE 15 GDP TRENDS AND FORECAST FOR MAJOR ECONOMIES, 2018–2026 (USD BILLION)
                    TABLE 16 REAL GDP GROWTH RATE (ANNUAL PERCENTAGE CHANGE AND FORECAST) FOR MAJOR ECONOMIES, 2022–2026
                    TABLE 17 GDP PER CAPITA TRENDS AND FORECASTS FOR MAJOR ECONOMIES, 2022–2026 (USD)
    5.11 EV BATTERY MARKET, MARKET SCENARIOS (2022–2027)
           5.11.1 MOST LIKELY SCENARIO
                    TABLE 18 EV BATTERY MARKET: MOST LIKELY SCENARIO, BY REGION, 2022–2027 (USD BILLION)
           5.11.2 OPTIMISTIC SCENARIO
                    TABLE 19 EV BATTERY MARKET: OPTIMISTIC SCENARIO, BY REGION, 2022–2027 (USD MILLION)
           5.11.3 PESSIMISTIC SCENARIO
                    TABLE 20 EV BATTERY MARKET: PESSIMISTIC SCENARIO, BY REGION, 2022–2027 (USD BILLION)
    5.12 EV MARKET ECOSYSTEM
                    FIGURE 44 EV MARKET: ECOSYSTEM ANALYSIS
           5.12.1 EV CHARGING PROVIDERS
           5.12.2 TIER I SUPPLIERS
           5.12.3 OEMS
           5.12.4 END USERS
                    TABLE 21 ELECTRIC VEHICLE MARKET: ROLE OF COMPANIES IN ECOSYSTEM
                    TABLE 22 TOP ELECTRIC VEHICLES WITH BATTERY SPECIFICATION
    5.13 CASE STUDY ANALYSIS
           5.13.1 TESLA CLAIMS TO REDUCE BATTERY COSTS THROUGH INNOVATION
           5.13.2 INDIAN OIL CORPORATION LIMITED (IOCL) LAUNCHES BATTERY SWAPPING SERVICE
           5.13.3 CATL DEVELOPING NO NICKEL, NO COBALT EV BATTERY
           5.13.4 PANASONIC ANNOUNCES DEVELOPMENT OF SOLID-STATE BATTERY
           5.13.5 MERCEDES BENZ TO MANUFACTURE BATTERY CELLS
           5.13.6 VOLKSWAGEN TO CONSIDER IN-HOUSE MANUFACTURING OF BATTERY CELLS
    5.14 REGULATORY OVERVIEW
                    TABLE 23 CHANGE IN REGULATORY ENVIRONMENT GLOBALLY
                    TABLE 24 REGULATIONS/VOLUNTARY PROCEDURES FOR EV BATTERY PERFORMANCE
                    TABLE 25 REGULATIONS/VOLUNTARY PROCEDURES FOR EV BATTERY DURABILITY
                    TABLE 26 REGULATIONS/VOLUNTARY PROCEDURES FOR EV BATTERY SAFETY
                    TABLE 27 REGULATIONS/VOLUNTARY PROCEDURES FOR EV BATTERY RECYCLING
    5.15 KEY CONFERENCES AND EVENTS IN 2022–2023
                    TABLE 28 EV BATTERY MARKET: DETAILED LIST OF CONFERENCES AND EVENTS
    5.16 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 29 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 30 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 31 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

6 EV BATTERY MARKET, BY BATTERY FORM (Page No. - 113)
    6.1 INTRODUCTION
           FIGURE 45 EV BATTERY MARKET, BY BATTERY FORM, 2022 VS. 2027
           TABLE 32 EV BATTERY MARKET, BY BATTERY FORM, 2018–2021 (THOUSAND UNITS)
           TABLE 33 EV BATTERY MARKET, BY BATTERY FORM, 2022–2027 (THOUSAND UNITS)
           6.1.1 CHARACTERISTICS
                    TABLE 34 EV BATTERY CELL CHARACTERISTICS
           6.1.2 ASSUMPTIONS
                    TABLE 35 ASSUMPTIONS, BY BATTERY FORM
                    FIGURE 46 BATTERY FORMS
           6.1.3 RESEARCH METHODOLOGY
    6.2 PRISMATIC
           6.2.1 ADOPTION OF EVS TO DRIVE SEGMENT
                    FIGURE 47 PRISMATIC CELL BATTERY PACK
                    TABLE 36 PRISMATIC EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 37 PRISMATIC EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
    6.3 POUCH
           6.3.1 OPTIMUM UTILIZATION FOR BATTERY SPACE TO DRIVE SEGMENT
                    TABLE 38 POUCH EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 39 POUCH EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
    6.4 CYLINDRICAL
           6.4.1 LOW-COST MANUFACTURING TO DRIVE FASTER ADOPTION OF CYLINDRICAL CELLS
                    FIGURE 48 CROSS-SECTION OF LITHIUM-ION CYLINDRICAL CELL
                    TABLE 40 CYLINDRICAL EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 41 CYLINDRICAL EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
    6.5 KEY PRIMARY INSIGHTS

7 EV BATTERY MARKET, BY METHOD (Page No. - 125)
    7.1 INTRODUCTION
           FIGURE 49 EV BATTERY MARKET, BY METHOD, 2022 VS. 2027
           FIGURE 50 APPLICATION OF INTERCONNECTION TECHNOLOGIES
           TABLE 42 EV BATTERY MARKET, BY METHOD, 2018–2021 (THOUSAND UNITS)
           TABLE 43 EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
           7.1.1 OPERATIONAL DATA
                    TABLE 44 DIFFERENT BATTERY ASSEMBLY METHODS
           7.1.2 ASSUMPTIONS
                    TABLE 45 ASSUMPTIONS, BY METHOD
           7.1.3 RESEARCH METHODOLOGY
    7.2 WIRE BONDING
           7.2.1 ADOPTION OF WIRE BONDING BY OEMS TO FURTHER BOOST SEGMENT
                    TABLE 46 WIRE BONDING: EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 47 WIRE BONDING: EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
    7.3 LASER BONDING
           7.3.1 HIGHER ACCURACY AND FASTER PROCESS RESULT IN HIGHER ADOPTION OF LASER BONDING
                    TABLE 48 LASER BONDING: EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 49 LASER BONDING: EV BATTERY MARKET, BY REGION, 2022–2027(THOUSAND UNITS)
    7.4 KEY PRIMARY INSIGHTS

8 EV BATTERY MARKET, BY BATTERY TYPE (Page No. - 133)
    8.1 INTRODUCTION
           FIGURE 51 EV BATTERY MARKET, BY BATTERY TYPE, 2022 VS. 2027 (UNITS)
           TABLE 50 EV BATTERY MARKET, BY BATTERY TYPE, 2018–2021 (THOUSAND UNITS)
           TABLE 51 EV BATTERY MARKET, BY BATTERY TYPE, 2022–2027 (THOUSAND UNITS)
           8.1.1 OPERATIONAL DATA
                    TABLE 52 ELECTRIC VEHICLE MODELS, BY BATTERY TYPE
           8.1.2 RESEARCH METHODOLOGY
           8.1.3 ASSUMPTIONS
                    TABLE 53 ASSUMPTIONS, BY BATTERY TYPE
    8.2 LITHIUM-ION
           8.2.1 HIGH ENERGY DENSITY AND LONG LIFE CYCLE TO DRIVE SEGMENT
                    FIGURE 52 COMPARATIVE EVALUATION OF ELECTRIC VEHICLES USING LITHIUM-ION BATTERIES
                    TABLE 54 LITHIUM-ION BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                    TABLE 55 LITHIUM-ION BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
    8.3 LEAD-ACID
           8.3.1 DEVELOPMENT OF ADVANCED LEAD-ACID BATTERIES TO DRIVE MARKET
    8.4 NICKEL-METAL HYDRIDE
           8.4.1 LONG LIFE CYCLE AND HIGH TOLERANCE TO DRIVE DEMAND FOR NICKEL-METAL HYDRIDE BATTERIES
    8.5 SOLID-STATE
           8.5.1 HIGH ENERGY STORAGE CAPABILITY TO FUEL DEMAND FOR SOLID-STATE BATTERIES
                    TABLE 56 US TRANSIT AGENCIES USING BATTERY-POWERED ELECTRIC BUSES
                    TABLE 57 SOLID-STATE BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
    8.6 SODIUM-ION BATTERY
           8.6.1 ADOPTION OF SOLID-ION BATTERIES TO BOOST DEMAND
    8.7 OTHERS
           TABLE 58 OTHERS: EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
    8.8 KEY PRIMARY INSIGHTS

9 EV BATTERY MARKET, BY MATERIAL TYPE (Page No. - 143)
    9.1 INTRODUCTION
           FIGURE 53 EV BATTERY MARKET, BY MATERIAL TYPE, 2022 VS. 2027
           TABLE 59 EV BATTERY MARKET, BY MATERIAL TYPE, 2018–2021 (USD MILLION)
           TABLE 60 EV BATTERY MARKET, BY MATERIAL TYPE, 2022–2027 (USD MILLION)
           9.1.1 OPERATIONAL DATA
                    TABLE 61 TYPES OF LITHIUM-ION BATTERY CHEMISTRIES
                    FIGURE 54 ELECTRIC VEHICLE PACTS – JOINT VENTURES BETWEEN AUTOMAKERS AND LI-ION BATTERY MAKERS
           9.1.2 RESEARCH METHODOLOGY
           9.1.3 ASSUMPTIONS
                    TABLE 62 ASSUMPTIONS, BY MATERIAL TYPE
    9.2 COBALT
           9.2.1 RESISTANCE TOWARD HIGH TEMPERATURE TO DRIVE DEMAND FOR COBALT
                    TABLE 63 COBALT IN EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 64 COBALT IN EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.3 LITHIUM
           9.3.1 HIGHER ENERGY DENSITY TO FUEL DEMAND FOR LITHIUM
                    TABLE 65 LITHIUM IN EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 66 LITHIUM IN EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.4 NATURAL GRAPHITE
           9.4.1 EXPLORATION OF NEW EXTRACTION SITES EXPECTED TO BOOST MARKET
                    TABLE 67 NATURAL GRAPHITE IN EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 68 NATURAL GRAPHITE IN EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.5 MANGANESE
           9.5.1 ADVANCEMENTS IN BATTERY TECHNOLOGY TO DRIVE MARKET
                    TABLE 69 MANGANESE IN EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 70 MANGANESE IN EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.6 KEY PRIMARY INSIGHTS

10 EV BATTERY MARKET, BY PROPULSION (Page No. - 152)
     10.1 INTRODUCTION
               FIGURE 55 EV BATTERY MARKET, BY PROPULSION, 2022 VS. 2027
               TABLE 71 EV BATTERY MARKET, BY PROPULSION, 2018–2021 (THOUSAND UNITS)
               TABLE 72 EV BATTERY MARKET, BY PROPULSION, 2022–2027 (THOUSAND UNITS)
             10.1.1 OPERATIONAL DATA
                       TABLE 73 POPULAR EVS WORLDWIDE
                       TABLE 74 ELECTRIC COMMERCIAL VEHICLE DATA, BY COMPANY, MODEL, AND PROPULSION
             10.1.2 RESEARCH METHODOLOGY
             10.1.3 ASSUMPTIONS
                       TABLE 75 ASSUMPTIONS, BY PROPULSION
     10.2 BATTERY ELECTRIC VEHICLE (BEV)
             10.2.1 HIGHER BEV SALES LIKELY TO DRIVE MARKET
                       TABLE 76 BEV: EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 77 BEV: EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
     10.3 HYBRID ELECTRIC VEHICLE (HEV)
             10.3.1 RISING ADOPTION OF HEVS TO FURTHER BOOST EV BATTERY MARKET
                       TABLE 78 HEV: EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 79 HEV: EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
     10.4 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)
             10.4.1 DEMAND FOR PHEVS TO SUPPORT EV BATTERY MARKET GROWTH
                       TABLE 80 PHEV: EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 81 PHEV: EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
     10.5 FUEL CELL ELECTRIC VEHICLE (FCEV)
             10.5.1 EXPECTED INCREASE IN DEMAND FOR FCEV TO DRIVE SEGMENT
                       TABLE 82 FCEV: EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 83 FCEV: EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
     10.6 KEY PRIMARY INSIGHTS

11 EV BATTERY MARKET, BY VEHICLE TYPE (Page No. - 162)
     11.1 INTRODUCTION
               FIGURE 56 EV BATTERY MARKET, BY VEHICLE TYPE, 2022 VS. 2027
               TABLE 84 EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
               TABLE 85 EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
               TABLE 86 EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
               TABLE 87 EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             11.1.1 OPERATIONAL DATA
                       TABLE 88 ELECTRIC VEHICLES, BY MODEL, VEHICLE TYPE, & PROPULSION
             11.1.2 RESEARCH METHODOLOGY
             11.1.3 ASSUMPTIONS
                       TABLE 89 ASSUMPTIONS, BY VEHICLE TYPE
     11.2 PASSENGER CARS
             11.2.1 GROWING EMISSION NORMS FOR PASSENGER CARS TO BOOST DEMAND FOR EV BATTERIES
                       TABLE 90 EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 91 EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 92 EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 93 EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2022–2027 (USD MILLION)
                       TABLE 94 EV BATTERY MARKET IN PASSENGER CARS, BY BATTERY CAPACITY, 2018–2021 (THOUSAND UNITS)
                       TABLE 95 EV BATTERY MARKET IN PASSENGER CARS, BY BATTERY CAPACITY, 2022–2027 (THOUSAND UNITS)
                       TABLE 96 <50 KWH: EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 97 <50 KWH: EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 98 50–110 KWH: EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 99 50–110 KWH: EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 100 111–200 KWH: EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 101 111–200 KWH: EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2022–2027 (THOUSAND UNITS)
     11.3 VANS/LIGHT TRUCKS
             11.3.1 INCREASING DEMAND FROM LOGISTICS SECTOR TO DRIVE SEGMENT
                       TABLE 102 ELECTRIC VAN MODELS
                       TABLE 103 EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 104 EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 105 EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 106 EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2022–2027 (USD MILLION)
                       TABLE 107 EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY BATTERY CAPACITY, 2018–2021 (THOUSAND UNITS)
                       TABLE 108 EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY BATTERY CAPACITY, 2022–2027 (THOUSAND UNITS)
                       TABLE 109 <50 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 110 <50 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 111 50–110 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 112 50–110 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 113 111–200 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 114 111–200 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 115 201–300 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 116 201–300 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2022–2027 (THOUSAND UNITS)
     11.4 MEDIUM & HEAVY TRUCKS
             11.4.1 ADOPTION OF ELECTRIC MEDIUM AND HEAVY TRUCKS FOR SHORT AND LONG RANGES TO BOOST MARKET
                       TABLE 117 EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 118 EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 119 EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 120 EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2022–2027 (USD MILLION)
                       TABLE 121 EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY BATTERY CAPACITY, 2018–2021 (THOUSAND UNITS)
                       TABLE 122 EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY BATTERY CAPACITY, 2022–2027 (THOUSAND UNITS)
                       TABLE 123 50–110 KWH: EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 124 50–110 KWH: EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 125 111–200 KWH: EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 126 111–200 KWH: EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 127 201–300 KWH: EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 128 201–300 KWH: EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2022–2027 (THOUSAND UNITS)
     11.5 BUSES
             11.5.1 HIGH DEMAND FROM MAJOR OEMS IN ASIA PACIFIC TO DRIVE MARKET SIGNIFICANTLY
                       TABLE 129 ELECTRIC BUS DATA BASED ON PROPULSION
                       TABLE 130 EV BATTERY MARKET IN BUSES, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 131 EV BATTERY MARKET IN BUSES, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 132 EV BATTERY MARKET IN BUSES, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 133 EV BATTERY MARKET IN BUSES, BY REGION, 2022–2027 (USD MILLION)
                       TABLE 134 EV BATTERY MARKET IN BUSES, BY BATTERY CAPACITY, 2018–2021 (THOUSAND UNITS)
                       TABLE 135 EV BATTERY MARKET IN BUSES, BY BATTERY CAPACITY, 2022–2027 (THOUSAND UNITS)
                       TABLE 136 111–200 KWH: EV BATTERY MARKET IN BUSES, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 137 111–200 KWH: EV BATTERY MARKET IN BUSES, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 138 201–300 KWH: EV BATTERY MARKET IN BUSES, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 139 201–300 KWH: EV BATTERY MARKET IN BUSES, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 140 >300 KWH: EV BATTERY MARKET IN BUSES, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 141 >300 KWH: EV BATTERY MARKET IN BUSES, BY REGION, 2022–2027 (THOUSAND UNITS)
     11.6 OFF-HIGHWAY VEHICLES
             11.6.1 DEMAND FOR HIGH-POWER HEAVY-DUTY ELECTRIC TRUCKS IN AGRICULTURE AND CONSTRUCTION INDUSTRIES TO DRIVE MARKET
                       TABLE 142 MAJOR OFF-HIGHWAY VEHICLE MODELS
                       TABLE 143 EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 144 EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 145 EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 146 EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2022–2027 (USD MILLION)
                       TABLE 147 EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY BATTERY CAPACITY, 2018–2021 (THOUSAND UNITS)
                       TABLE 148 EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY BATTERY CAPACITY, 2022–2027 (THOUSAND UNITS)
                       TABLE 149 <50 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 150 <50 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 151 50–110 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 152 50–110 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 153 111–200 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 154 111–200 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 155 201–300 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 156 201–300 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 157 >300 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 158 >300 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2022–2027 (THOUSAND UNITS)
     11.7 KEY PRIMARY INSIGHTS

12 EV BATTERY MARKET, BY BATTERY CAPACITY (Page No. - 191)
     12.1 INTRODUCTION
               FIGURE 57 EV BATTERY MARKET, BY BATTERY CAPACITY, 2022 VS. 2027
               TABLE 159 EV BATTERY MARKET, BY BATTERY CAPACITY, 2018–2021 (THOUSAND UNITS)
               TABLE 160 EV BATTERY MARKET, BY BATTERY CAPACITY, 2022–2027 (THOUSAND UNITS)
               TABLE 161 EV BATTERY MARKET, BY BATTERY CAPACITY, 2018–2021 (USD MILLION)
               TABLE 162 EV BATTERY MARKET, BY BATTERY CAPACITY, 2022–2027 (USD MILLION)
             12.1.1 OPERATIONAL DATA
                       TABLE 163 ELECTRIC VEHICLE DATA, BY MODEL & BATTERY CAPACITY
                       FIGURE 58 TESLA’S NEW TABLESS BATTERY CELL '4680'
             12.1.2 RESEARCH METHODOLOGY
             12.1.3 ASSUMPTIONS
                       TABLE 164 ASSUMPTIONS, BY BATTERY CAPACITY
     12.2 <50 KWH
             12.2.1 COST FACTOR TO DRIVE MARKET FOR BATTERY WITH <50 KWH CAPACITY
                       TABLE 165 <50 KWH: EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 166 <50 KWH: EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 167 <50 KWH: EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 168 <50 KWH: EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.3 50–110 KWH
             12.3.1 INCREASED DEMAND FOR ELECTRIC VANS/LIGHT TRUCKS TO FUEL MARKET FOR BATTERIES WITH 50–110 KWH CAPACITY
                       TABLE 169 50–110 KWH: EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 170 50–110 KWH: EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 171 50–110 KWH: EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 172 50–110 KWH: EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.4 111–200 KWH
             12.4.1 DEMAND FOR ELECTRIC COMMERCIAL TRUCKS & BUSES EXPECTED TO DRIVE SEGMENT
                       TABLE 173 111–200 KWH: EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 174 111–200 KWH: EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 175 111–200 KWH: EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 176 111–200 KWH: EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.5 201–300 KWH
             12.5.1 BUSES AND TRUCKS WITH 201–300 KWH BATTERY CAPACITY DOMINATE CHINESE PUBLIC TRANSPORT FLEET
                       TABLE 177 201–300 KWH: EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 178 201–300 KWH: EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 179 201–300 KWH: EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 180 201–300 KWH: EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.6 >300 KWH
             12.6.1 INCREASED DEMAND FOR HEAVY COMMERCIAL AND OFF-HIGHWAY VEHICLES TO DRIVE MARKET FOR BATTERIES WITH >300 CAPACITY
                       TABLE 181 >300 KWH: EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
                       TABLE 182 >300 KWH: EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
                       TABLE 183 >300 KWH: EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 184 >300 KWH: EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.7 KEY PRIMARY INSIGHTS

13 EV BATTERY MARKET, BY LI-ION BATTERY COMPONENT (Page No. - 205)
     13.1 INTRODUCTION
               FIGURE 59 EV BATTERY MARKET, BY LI-ION BATTERY COMPONENT, 2022 VS. 2027
               TABLE 185 EV BATTERY MARKET, BY LI-ION BATTERY COMPONENT, 2018–2021 (USD MILLION)
               TABLE 186 EV BATTERY MARKET, BY LI-ION BATTERY COMPONENT, 2022–2027 (USD MILLION)
               TABLE 187 ELECTROLYTE SOLVENTS, BY TEMPERATURE & FLASHPOINT
               TABLE 188 MOST COMMONLY USED LITHIUM-ION BATTERIES AND THEIR SPECIFICATIONS
               TABLE 189 LIST OF VEHICLE MODELS AND CATHODE MATERIAL SUPPLIERS
               TABLE 190 LIST OF VEHICLE MODELS AND ANODE MATERIAL SUPPLIERS
               FIGURE 60 LITHIUM-ION BATTERY WORKING PRINCIPLE
             13.1.1 RESEARCH METHODOLOGY
             13.1.2 ASSUMPTIONS
                       TABLE 191 ASSUMPTIONS, BY LI-ION BATTERY COMPONENT
     13.2 NEGATIVE ELECTRODE
             13.2.1 HIGH PRESENCE OF NEGATIVE ELECTRODE COMPANIES DRIVES MARKET IN ASIA PACIFIC
                       TABLE 192 NEGATIVE ELECTRODE EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 193 NEGATIVE ELECTRODE EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
     13.3 POSITIVE ELECTRODE
             13.3.1 DEMAND FOR HIGH-PERFORMANCE AND LONG LIFE CYCLE CELLS TO DRIVE MARKET
                       TABLE 194 POSITIVE ELECTRODE EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 195 POSITIVE ELECTRODE EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
     13.4 ELECTROLYTE
             13.4.1 SAFETY AND HIGH PERFORMANCE OF BATTERIES TO DRIVE MARKET FOR ELECTROLYTES
                       TABLE 196 ELECTROLYTE EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 197 ELECTROLYTE EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
     13.5 SEPARATOR
             13.5.1 NEED FOR SEPARATORS IN BATTERIES TO ATTAIN TEMPERATURE STABILITY TO DRIVE MARKET
                       TABLE 198 SEPARATOR EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 199 SEPARATOR EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
     13.6 KEY PRIMARY INSIGHTS

14 EV BATTERY MARKET, BY REGION (Page No. - 216)
     14.1 INTRODUCTION
               TABLE 200 EV BATTERY MARKET, BY REGION, 2018–2021 (THOUSAND UNITS)
               TABLE 201 EV BATTERY MARKET, BY REGION, 2022–2027 (THOUSAND UNITS)
               TABLE 202 EV BATTERY MARKET, BY REGION, 2018–2021 (USD MILLION)
               TABLE 203 EV BATTERY MARKET, BY REGION, 2022–2027 (USD MILLION)
     14.2 ASIA PACIFIC
               FIGURE 61 ASIA PACIFIC: EV BATTERY MARKET SNAPSHOT
               TABLE 204 ASIA PACIFIC: EV BATTERY MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
               TABLE 205 ASIA PACIFIC: EV BATTERY MARKET, BY COUNTRY, 2022–2027(THOUSAND UNITS)
               TABLE 206 ASIA PACIFIC: EV BATTERY MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 207 ASIA PACIFIC: EV BATTERY MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             14.2.1 CHINA
                       14.2.1.1 Presence of global leaders and rising EV demand drive market
                                   TABLE 208 EV MOBILITY LANDSCAPE IN CHINA
                                   TABLE 209 CHINA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 210 CHINA: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 211 CHINA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 212 CHINA: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             14.2.2 JAPAN
                       14.2.2.1 Electrification of commercial vehicles expected to drive market
                                   TABLE 213 JAPAN: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 214 JAPAN: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 215 JAPAN: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 216 JAPAN: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             14.2.3 INDIA
                       14.2.3.1 Government subsidies and incentives to drive market
                                   TABLE 217 INDIA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 218 INDIA: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 219 INDIA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 220 INDIA: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             14.2.4 SOUTH KOREA
                       14.2.4.1 Increasing focus on electrifying public transport to boost market
                                   TABLE 221 SOUTH KOREA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 222 SOUTH KOREA: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 223 SOUTH KOREA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 224 SOUTH KOREA: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             14.2.5 THAILAND
                       TABLE 225 THAILAND: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                       TABLE 226 THAILAND: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                       TABLE 227 THAILAND: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                       TABLE 228 THAILAND: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
     14.3 EUROPE
               TABLE 229 EUROPE: MAJOR EV MODELS
               FIGURE 62 EUROPE: EV BATTERY MARKET SNAPSHOT
               TABLE 230 EUROPE: EV BATTERY MARKET, BY COUNTRY, 2018–2021 (THOUSAND UNITS)
               TABLE 231 EUROPE: EV BATTERY MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
               TABLE 232 EUROPE: EV BATTERY MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 233 EUROPE: EV BATTERY MARKET, BY COUNTRY, 2022–2027(USD MILLION)
               FIGURE 63 EXPANSION PLANS FOR BATTERY PLANTS IN EUROPE
             14.3.1 FRANCE
                       14.3.1.1 Rise in e-logistics transport to drive market
                                   TABLE 234 FRANCE: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 235 FRANCE: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 236 FRANCE: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 237 FRANCE: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             14.3.2 GERMANY
                       14.3.2.1 Presence of leading companies and higher demand for BEVs expected to drive market
                                   TABLE 238 GERMANY: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 239 GERMANY: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 240 GERMANY: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 241 GERMANY: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             14.3.3 SPAIN
                       14.3.3.1 Growing commercial vehicle production projected to drive market
                                   TABLE 242 SPAIN: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 243 SPAIN: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 244 SPAIN: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 245 SPAIN: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             14.3.4 ITALY
                       14.3.4.1 Technological advancement in EVs to drive market
                                   TABLE 246 ITALY: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 247 ITALY: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 248 ITALY: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 249 ITALY: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             14.3.5 UK
                       14.3.5.1 Increased demand for electric public fleets to drive market
                                   TABLE 250 UK: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 251 UK: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 252 UK: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 253 UK: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
                                   TABLE 254 UK: EV BATTERY MARKET, BY PROPULSION, 2018–2021 (THOUSAND UNITS)
                                   TABLE 255 UK: EV BATTERY MARKET, BY PROPULSION, 2022–2027 (THOUSAND UNITS)
             14.3.6 DENMARK
                       14.3.6.1 Favorable EV regulations to drive market
                                   TABLE 256 DENMARK: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 257 DENMARK: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 258 DENMARK: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 259 DENMARK: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             14.3.7 NORWAY
                       14.3.7.1 Replacement of conventional vehicles with advanced EVs to drive market
                                   TABLE 260 NORWAY: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 261 NORWAY: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 262 NORWAY: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 263 NORWAY: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             14.3.8 SWEDEN
                       14.3.8.1 Presence of OEMs to boost demand for EV batteries
                                   TABLE 264 SWEDEN: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 265 SWEDEN: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 266 SWEDEN: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 267 SWEDEN: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
     14.4 NORTH AMERICA
               FIGURE 64 NORTH AMERICA EV BATTERY INITIATIVES TILL 2022
               TABLE 268 NORTH AMERICA: EV BATTERY MARKET, BY COUNTRY, 2018–2021(THOUSAND UNITS)
               TABLE 269 NORTH AMERICA: EV BATTERY MARKET, BY COUNTRY, 2022–2027 (THOUSAND UNITS)
               TABLE 270 NORTH AMERICA: EV BATTERY MARKET, BY COUNTRY, 2018–2021(USD MILLION)
               TABLE 271 NORTH AMERICA: EV BATTERY MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             14.4.1 US
                       14.4.1.1 Growing demand for electric trucks to drive market
                                   TABLE 272 US: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 273 US: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 274 US: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 275 US: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)
             14.4.2 CANADA
                       14.4.2.1 Government support to promote EVs to drive market
                                   TABLE 276 CANADA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (THOUSAND UNITS)
                                   TABLE 277 CANADA: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (THOUSAND UNITS)
                                   TABLE 278 CANADA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2021 (USD MILLION)
                                   TABLE 279 CANADA: EV BATTERY MARKET, BY VEHICLE TYPE, 2022–2027 (USD MILLION)

15 COMPETITIVE LANDSCAPE (Page No. - 258)
     15.1 OVERVIEW
     15.2 MARKET SHARE ANALYSIS FOR EV BATTERY MARKET, 2021
               TABLE 280 MARKET SHARE ANALYSIS, 2021
               FIGURE 65 MARKET SHARE ANALYSIS, 2021
             15.2.1 CATL
             15.2.2 LG CHEM
             15.2.3 PANASONIC HOLDINGS CORPORATION
             15.2.4 BYD
             15.2.5 SAMSUNG SDI
     15.3 KEY PLAYER STRATEGIES
               TABLE 281 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN EV BATTERY MARKET
     15.4 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS, 2021
               FIGURE 66 TOP PUBLIC/LISTED PLAYERS DOMINATING EV BATTERY MARKET DURING LAST FIVE YEARS
     15.5 COMPETITIVE SCENARIO
             15.5.1 NEW PRODUCT LAUNCHES
                       TABLE 282 NEW PRODUCT LAUNCHES, 2018–2022
             15.5.2 DEALS
                       TABLE 283 DEALS, 2018–2022
                       TABLE 284 OTHERS, 2018–2022
     15.6 COMPANY EVALUATION QUADRANT
             15.6.1 STARS
             15.6.2 EMERGING LEADERS
             15.6.3 PERVASIVE COMPANIES
             15.6.4 PARTICIPANTS
                       FIGURE 67 EV BATTERY MARKET: COMPANY EVALUATION QUADRANT, 2021
                       TABLE 285 EV BATTERY MARKET: COMPANY FOOTPRINT, 2021
                       TABLE 286 EV BATTERY MARKET: PRODUCT FOOTPRINT, 2021
                       TABLE 287 EV BATTERY MARKET: REGIONAL FOOTPRINT, 2021
     15.7 SME EVALUATION QUADRANT
             15.7.1 PROGRESSIVE COMPANIES
             15.7.2 RESPONSIVE COMPANIES
             15.7.3 DYNAMIC COMPANIES
             15.7.4 STARTING BLOCKS
                       FIGURE 68 EV BATTERY MARKET: SME EVALUATION QUADRANT, 2021
                       TABLE 288 EV BATTERY MARKET: DETAILED LIST OF KEY SMES
                       TABLE 289 EV BATTERY MARKET: COMPETITIVE BENCHMARKING OF KEY SMES

16 COMPANY PROFILES (Page No. - 275)
(Business overview, Products offered, Recent developments & MnM View)*
     16.1 KEY PLAYERS
             16.1.1 CATL
                       TABLE 290 CATL: BUSINESS OVERVIEW
                       FIGURE 69 CATL: COMPANY SNAPSHOT
                       TABLE 291 CATL: SUPPLY AGREEMENTS
                       TABLE 292 CATL: PRODUCTS OFFERED
                       TABLE 293 CATL: NEW PRODUCT DEVELOPMENTS
                       TABLE 294 CATL: DEALS
                       TABLE 295 CATL: OTHERS
             16.1.2 SAMSUNG SDI
                       TABLE 296 SAMSUNG SDI: BUSINESS OVERVIEW
                       TABLE 297 SAMSUNG SDI: SUPPLY AGREEMENTS
                       FIGURE 70 SAMSUNG SDI: COMPANY SNAPSHOT
                       TABLE 298 SAMSUNG SDI: PRODUCTS OFFERED
                       TABLE 299 SAMSUNG SDI: NEW PRODUCT DEVELOPMENTS
                       TABLE 300 SAMSUNG SDI: DEALS
                       TABLE 301 SAMSUNG SDI: OTHERS
             16.1.3 PANASONIC HOLDINGS CORPORATION
                       TABLE 302 PANASONIC HOLDINGS CORPORATION: BUSINESS OVERVIEW
                       TABLE 303 PANASONIC HOLDINGS CORPORATION: SUPPLY AGREEMENTS
                       FIGURE 71 PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT
                       TABLE 304 PANASONIC HOLDINGS CORPORATION: PRODUCTS OFFERED
                       TABLE 305 PANASONIC HOLDINGS CORPORATION: NEW PRODUCT DEVELOPMENTS
                       TABLE 306 PANASONIC HOLDINGS CORPORATION: DEALS
                       TABLE 307 PANASONIC HOLDINGS CORPORATION: OTHERS
             16.1.4 LG CHEM
                       TABLE 308 LG CHEM: BUSINESS OVERVIEW
                       TABLE 309 LG CHEM: R&D OVERVIEW
                       TABLE 310 LG CHEM.: SUPPLY AGREEMENTS
                       FIGURE 72 LG CHEM: COMPANY SNAPSHOT
                       TABLE 311 LG CHEM: PRODUCTS OFFERED
                       TABLE 312 LG CHEM: NEW PRODUCT DEVELOPMENTS
                       TABLE 313 LG CHEM: DEALS
                       TABLE 314 LG CHEM: OTHERS
             16.1.5 BYD COMPANY LIMITED
                       TABLE 315 BYD COMPANY LIMITED: BUSINESS OVERVIEW
                       FIGURE 73 BYD COMPANY LIMITED: COMPANY SNAPSHOT
                       TABLE 316 BYD: NEW PRODUCT DEVELOPMENTS
                       TABLE 317 BYD: DEALS
                       TABLE 318 BYD: OTHERS
             16.1.6 SK INNOVATION CO. LTD.
                       TABLE 319 SK INNOVATION CO. LTD.: BUSINESS OVERVIEW
                       TABLE 320 SK INNOVATION CO. LTD.: SUPPLY AGREEMENTS
                       FIGURE 74 SK INNOVATION CO. LTD.: GLOBAL BATTERY PRODUCTION
                       FIGURE 75 SK INNOVATION CO. LTD.: COMPANY SNAPSHOT
                       TABLE 321 SK INNOVATION CO. LTD.: PRODUCTS OFFERED
                       TABLE 322 SK INNOVATION CO. LTD.: NEW PRODUCT DEVELOPMENTS
                       TABLE 323 SK INNOVATION CO. LTD.: DEALS
                       TABLE 324 SK INNOVATION CO. LTD.: OTHERS
             16.1.7 VEHICLE ENERGY JAPAN CO. LTD.
                       TABLE 325 VEHICLE ENERGY JAPAN CO. LTD.: BUSINESS OVERVIEW
                       TABLE 326 VEHICLE ENERGY JAPAN CO. LTD.: SUPPLY AGREEMENTS
                       TABLE 327 VEHICLE ENERGY JAPAN CO. LTD.: PRODUCTS OFFERED
                       TABLE 328 VEHICLE ENERGY JAPAN CO. LTD.: DEALS
                       TABLE 329 VEHICLE ENERGY JAPAN CO. LTD.: OTHERS
             16.1.8 TOSHIBA CORPORATION
                       TABLE 330 TOSHIBA CORPORATION: BUSINESS OVERVIEW
                       TABLE 331 TOSHIBA CORPORATION: SUPPLY AGREEMENTS
                       TABLE 332 TOSHIBA CORPORATION: PRODUCTS OFFERED
                       TABLE 333 TOSHIBA CORPORATION: NEW PRODUCT DEVELOPMENTS
                       TABLE 334 TOSHIBA CORPORATION: DEALS
                       TABLE 335 TOSHIBA CORPORATION: OTHERS
             16.1.9 MITSUBISHI CORPORATION
                       TABLE 336 MITSUBISHI CORPORATION: BUSINESS OVERVIEW
                       TABLE 337 MITSUBISHI CORPORATION: PRODUCTS OFFERED
                       TABLE 338 MITSUBISHI CORPORATION: NEW PRODUCT DEVELOPMENTS
                       TABLE 339 MITSUBISHI CORPORATION: DEALS
                       TABLE 340 MITSUBISHI CORPORATION: OTHERS
             16.1.10 ENERSYS
                       TABLE 341 ENERSYS: BUSINESS OVERVIEW
                       TABLE 342 ENERSYS: PRODUCTS OFFERED
                       TABLE 343 ENERSYS: NEW PRODUCT DEVELOPMENTS
            TABLE 344 ENERSYS: DEALS
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
     16.2 OTHER PLAYERS
             16.2.1 EXIDE INDUSTRIES LIMITED
                       TABLE 345 EXIDE INDUSTRIES LIMITED: BUSINESS OVERVIEW
             16.2.2 PRIMEARTH EV ENERGY CO., LTD.
                       TABLE 346 PRIMEARTH EV ENERGY CO., LTD.: BUSINESS OVERVIEW
             16.2.3 E-ONE MOLI ENERGY CORP.
                       TABLE 347 E-ONE MOLI ENERGY CORP: BUSINESS OVERVIEW
             16.2.4 TARGRAY TECHNOLOGY INTERNATIONAL INC.
                       TABLE 348 TARGRAY TECHNOLOGY INTERNATIONAL INC.: BUSINESS OVERVIEW
             16.2.5 ALTAIR NANOTECHNOLOGIES INC.
                       TABLE 349 ALTAIR NANOTECHNOLOGIES INC.: BUSINESS OVERVIEW
             16.2.6 CLARIOS
                       TABLE 350 CLARIOS: BUSINESS OVERVIEW
             16.2.7 NORTHVOLT AB
                       TABLE 351 NORTHVOLT AB: BUSINESS OVERVIEW
             16.2.8 LECLANCHΙ SA
                       TABLE 352 LECLANCHΙ SA: BUSINESS OVERVIEW
             16.2.9 APTIV PLC
                       TABLE 353 APTIV PLC: BUSINESS OVERVIEW
             16.2.10 ENVISION AESC
                        TABLE 354 ENVISION AESC: BUSINESS OVERVIEW
             16.2.11 A123 SYSTEMS (SUBSIDIARY OF WANXIANG GROUP)
                        TABLE 355 A123 SYSTEMS: BUSINESS OVERVIEW
             16.2.12 GS YUASA
                        TABLE 356 GS YUASA CORPORATION: BUSINESS OVERVIEW
             16.2.13 GOTION HIGH TECH CO LTD.
                        TABLE 357 GOTION HIGH TECH CO LTD.: BUSINESS OVERVIEW
             16.2.14 AUTOMOTIVE ENERGY SUPPLY CORPORATION
                        TABLE 358 AUTOMOTIVE ENERGY SUPPLY CORPORATION: BUSINESS OVERVIEW
             16.2.15 RUIPU LANJUN ENERGY CO., LTD.
                        TABLE 359 RUIPU LANJUN ENERGY CO., LTD.: BUSINESS OVERVIEW

17 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 333)
     17.1 IMPROVEMENTS IN EV BATTERY TECHNOLOGY TO PROVIDE IMPETUS TO EV BATTERY MARKET
     17.2 SKEWED SUPPLY OF CRITICAL COMPONENTS POSES A CHALLENGE
     17.3 CONCLUSION

18 APPENDIX (Page No. - 335)
     18.1 KEY INSIGHTS OF INDUSTRY EXPERTS
     18.2 DISCUSSION GUIDE
     18.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     18.4 CUSTOMIZATION OPTIONS
     18.5 RELATED REPORTS
     18.6 AUTHOR DETAILS

Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research  

Secondary sources referred to for this research study include publications from government sources [such as country level automotive associations and organizations, Organisation for Economic Co-operation and Development (OECD), World Bank, CDC, and Eurostat]; corporate and regulatory filings (such as annual reports, SEC filings, investor presentations, and financial statements); business magazines and research journals; press releases; free and paid automotive databases The International Energy Agency, EV-volumes, Alternative Fuels Data Center (AFDC), the European Alternative Fuels Observatory (EAFO), and other associations/organizations. Secondary data was collected and analyzed to arrive at the overall size of the global market, which was validated by primary research.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the global EV battery market scenarios through secondary research. Several primary interviews were conducted with market experts from both the demand (country-level government associations, and trade associations, institutes, R&D centers, OEMs/vehicle manufacturers) and supply (EV battery manufacturers, EV component manufacturers, and raw material suppliers) side across three major regions, namely, North America, Europe, and Asia Pacific. 23% of the experts involved in primary interviews were from the demand side, and 77% were from the supply side of the industry. Primary data was collected through questionnaires, emails, and telephonic interviews. Several primary interviews were conducted from various departments within organizations, such as sales, operations, administration, and so on, to provide a holistic viewpoint in the report.

After interacting with industry participants, some brief sessions were conducted with experienced independent consultants to reinforce the findings from the primaries. This, along with the in-house subject matter experts’ opinions, has led to the findings delineated in the rest of this report.

EV Battery Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up and top-down approaches were used to estimate and validate the size of the global EV battery market. In these approaches, the electric vehicle sales statistics for each vehicle type (passenger cars, vans/light trucks, medium & heavy trucks, buses, and off-highway vehicles) at a country level were considered.

In the bottom-up approach, the number of electric vehicle sales of each vehicle type at the country level was considered. The number of batteries per vehicle was identified through model mapping and secondary research. The sale of electric vehicles at the country level was then multiplied with the number of batteries in each vehicle type to determine the market size of the EV battery market in terms of volume. An average battery capacity was identified for each vehicle type through secondary and primary research. The country-level market size, in terms of volume, by vehicle type, was then multiplied with the country-level average battery price per kWh (ABP) of each vehicle type and average battery capacity to determine the market size in terms of value for each vehicle type. The summation of the country-level market size for each vehicle type, by volume and value, would give the regional level market size. The summation of the regional markets provides the global EV battery market size. The market size for vehicle type was derived from the global market.

The top-down approach was used to estimate and validate the size of the EV battery market, by battery type, battery form, method, material type, and li-ion battery component. To derive the market size by type, the global market size in terms of volume and value was divided into lead-acid, nickel-metal hydride, solid-state, and li-ion using the penetration and percentage split respectively. The global market was further segmented at the regional level. A similar approach was used to derive the market size of battery type, battery form, method, material type, and li-ion battery component segments in terms of volume and value.

Data Triangulation

After arriving at the overall market size of the global market through the abovementioned methodology, this market was split into several segments and subsegments. The data triangulation and market breakdown procedure were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact market value data for the key segments and subsegments. The extrapolated market data was triangulated by studying various macro indicators and regional trends from both the demand- and supply-side participants.

Report Objectives

  • To define, describe, and project the EV battery market, by volume (units) and value (USD million)
  • To define, describe, and forecast the market based on battery type, li-ion battery component, propulsion, vehicle type, method, battery capacity, material type, battery form, and region.
  • To provide detailed information regarding major factors, such as drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To analyze and forecast market size, in terms of volume, based on battery type (lead-acid, lithium-ion, nickel-metal hydride, solid-state, and others)
  • To analyze and forecast the market size, in terms of value, based on lithium-ion battery component (positive electrode, negative electrode, electrolyte, and separator)
  • To analyze and forecast the market size, in terms of volume, based on propulsion {battery electric vehicles (BEV), hybrid electric vehicles (HEV), plug-hybrid electric vehicles (PHEV), and fuel cell electric vehicles (FCEV)}
  • To analyze and forecast the market size, in terms of volume and value, based on vehicle type (passenger cars, vans/light trucks, medium & heavy trucks, buses, and off-highway vehicles)
  • To analyze and forecast the market size, by volume and value, based on battery capacity (<50 kWh, 50-110 kWh, 111-200 kWh, 201-300 kWh, and >300 kWh)
  • To analyze and forecast the market size, in terms of value, based on material type (cobalt, lithium, natural graphite, and manganese)
  • To analyze and forecast the market size, in terms of volume, based on battery form (prismatic, pouch, and cylindrical)
  • To analyze and forecast the market size, in terms of volume, based on method (wire bonding and laser bonding)
  • To forecast the size of various segments of the EV battery market based on three regions—North America, Europe, and Asia Pacific, along with major countries in each region
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To track and analyze competitive developments, such as new product developments, deals, and others in the EV battery market

Available Customizations

Along with the market data, MarketsandMarkets offers customizations in line with the company’s specific needs.

  • EV Battery Market, by vehicle type at country-level (for countries covered in the report)
  • EV Battery Market, by battery type at country-level (for countries covered in the report)
  • Company Information
    • Profiling of Additional Market Players (Up to 5)
EV Battery Market Size,  Share & Growth Report
Report Code
AT 7840
Published ON
Sep, 2022
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