EV Battery Market

EV Battery Market by Battery Type (Lead-acid, Li-ion, Na-ion, NiMH, SSB), Propulsion (BEV, PHEV, ECEV, HEV), Battery Form, Vehicle Type, Material Type, Battery Capacity, Method, Li-ion Battery Component and Region - Global Forecast to 2033

Report Code: AT 7840 Jan, 2024, by marketsandmarkets.com

[423 Pages Report] The global EV battery market size was valued at USD 132.6 billion in 2023 and is expected to reach USD 508.8 billion by 2033, at a CAGR of 14.4%, during the forecast period 2023-2033. Increased awareness about environmental concerns and the desire for sustainable transportation options are driving consumer interest in electric vehicles. Longer battery life, faster charging times, and increased driving ranges are influencing consumer decisions. Additionally, Innovations in battery technology, such as advancements in lithium-ion batteries, solid-state batteries, and other emerging technologies, drive efficiency, range, and cost-effectiveness, making EVs more appealing to consumers. Prominent automakers are investing heavily in electric vehicle technology and are pledging to transition their fleets to electric. This commitment to EVs pushes battery development and market growth.

EV Battery Market

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EV Battery Market

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Market Dynamics:

Driver: Improvements in battery technology

There have been substantial improvements made by several companies in EV battery technology to make EVs a viable alternative to conventional vehicles. The table below covers significant improvements/innovations achieved by organizations in the EV battery market. Ongoing developments in the field of EV batteries are targeted toward improving the range of EVs, with most major manufacturers of EV batteries innovating in battery design and chemistry to extend the range of EVs to eliminate the requirement of regular charging. Cathode chemistry in the battery plays a critical role in battery performance. Presently, in the automotive sector, three broad categories of cathode chemistries are widely used: lithium nickel manganese cobalt oxide (NMC), lithium nickel cobalt aluminum oxide (NCA), and lithium iron phosphate (LFP). Out of these, NMC and NCA cathodes are in huge demand as they offer high energy density owing to the higher nickel content in the cathode. Besides, since 2020, given high battery metal prices, LFP has become more attractive as it contains no cobalt or nickel. LFP relies on lithium carbonate rather than hydroxide, which is used for nickel-rich chemistries. The cost advantages of LFP in a high commodity price market are a reason for the resurgence. Cell-to-pack (CTP) technology, which eliminates the need for modules to house cells in the battery pack, is increasingly adopted in many EV models. CTP also reduces the dead weight in the pack and improves the energy density of LFP batteries. The development of solid-state batteries is one of the most promising advancements in EV battery technology. These batteries use solid electrolytes rather than liquid or gel-based electrolytes, making them safer, more efficient, and longer lasting. Solid-state batteries also have a higher energy density than traditional batteries, which means they can store more energy in the same amount of space. Toyota and BMW are investing extensively in solid-state battery technology, and some companies, such as QuantumScape and Solid Power, are already making progress in this field.

Restraint: Development in hydrogen and ethanol vehicles

Hydrogen vehicles use fuel cells that generate electricity through a chemical reaction between hydrogen and oxygen, emitting only water and heat as by-products. They do not rely on traditional batteries like those in EVs. However, they might impact the EV battery market indirectly by competing for investment and infrastructural development in the clean transportation segment. If hydrogen vehicles gain widespread adoption, it might divert some investment away from EV batteries and charging infrastructure. Ethanol can be used in flex-fuel vehicles that also run on gasoline. These vehicles often use smaller batteries for starting and auxiliary functions, similar to hybrid cars. Therefore, their impact on the market for large battery packs will be minor. Similar to hydrogen vehicles, widespread adoption of ethanol-powered vehicles could slow the growth of the market by offering an alternative solution. However, the environmental impact of ethanol production varies and might not align with all sustainability goals, limiting its potential long-term impact.

Opportunity: Development in solid-state batteries

Solid-state batteries are a promising technology for electric vehicles as they have the ability to overcome various limitations of ordinary lithium-ion batteries. Many corporations and research organizations across the world are working on solid-state battery technologies. They are working to improve material design, manufacturing techniques, and scalability in order to make these batteries commercially viable. Furthermore, automakers, battery manufacturers, and technology firms are working together on research and development activities to speed the advancement and acceptance of solid-state batteries for EVs. A solid-state battery, which stores more energy with fewer components, can cut an electric car battery's already low carbon footprint by 24%. The study contrasts an NMC-811 solid-state battery, one of the most promising chemistries under development, with current lithium-ion technology. Solid state technology replaces liquid electrolytes with solid ceramic materials to transport electric current, making batteries lighter, faster to charge, and eventually cheaper. Solid-state batteries are expected to be used in EVs in the second half of the decade, according to battery manufacturers.

Challenge: High initial investments and high cost of electricity

EV battery manufacturing is capital-intensive and needs a high initial investment. Setting up a facility to produce batteries at scale, often referred to as "gigafactories," requires massive investments in land, buildings, specialized equipment, and technology. These facilities involve intricate processes and automation, necessitating high-precision machinery and advanced control systems. Apart from the initial investment, the cost of electricity is a challenge in some countries such as Italy, the UK, and Ireland where the cost of electricity is high and is constantly rising. This factor can impact the EV battery market negatively.

Market Ecosystem

EV Battery Market

Lithium-Ion battery holds the largest market during the forecast period.

In the EV battery market, lithium-ion batteries have the largest market share. Several decades have passed since the development and refinement of lithium-ion battery technology. It is a mature technology with considerable research that has resulted in excellent levels of reliability and safety, making it a popular choice for EV producers. Continuous research and development activities aim to improve lithium-ion battery technology. In the market, incremental advancements in energy density, charging speed, lifetime, and safety features have solidified its supremacy. Additionally, Their decreasing cost is a major factor driving their demand. In June 2023, Toyota announced that it aims to launch next-generation lithium-ion batteries in 2026, offering longer ranges and quicker charging. Vehicles such as the Hyundai IONIQ 6, Nissan Ariva, Genesis GV60, Cadlillac Lyriq Toyota Bz4x, and Chevrolet Silverado EV are popular EVs with lithium-ion batteries launched in 2023. lithium-ion battery is making EVs more affordable and practical for consumers. Also, the expansion of charging infrastructure supports the growth of EVs. As more charging stations become available, consumers are more inclined to switch to EVs, further driving the demand for lithium-ion batteries.

Laser Bonding is the most prominent method in the EV battery markets during the forecast period.

The laser bonding segment is expected to lead the EV battery market during the forecast period. The laser bonding method is mostly preferred due to its non-contact process that enables the welding of dissimilar materials with high precision. It is used to bond the metal components of battery enclosures together. This can create a strong and leak-proof seal that protects the battery cells from the environment. Its benefits, such as improved electric conductivity, enhanced welding quality, and the ability to weld dissimilar metals, make the laser bonding method suitable for EV batteries. The upcoming new Chevrolet Silverado EV is a fully electric pickup truck that is powered by a large battery pack. The battery pack is bonded together using laser welding, which helps to create a strong and reliable bond that is resistant to corrosion. Laser bonding involves a metal ribbon attached to the surface to be welded by irradiating with a laser. The laser causes the ribbon to partially melt, and the ribbon metal gets mixed with the surface metal, thus creating a welded joint/bond. The acceptable temperature in a lithium-ion battery is between 20 ºC and 60 ºC (68 ºF and 140 ºF). Any temperature exceeding that range could lead to degradation in performance and cause thermal runaway. In laser bonding, the heat generated is much lower, which is also an added advantage. As the demand for EVs continues to grow, the demand for laser bonding is also expected to increase. This is due to the many benefits that laser bonding offers, such as improved performance, reduced production time, and increased flexibility.

Asia Pacific is the largest market for EV batteries during the forecast period.

The Asia Pacific EV battery market is led by China, Japan, and South Korea. China is the largest EV battery producer and user globally, and it is dominating the EV market in the region. The government has taken steps, including subsidies for EV buyers, compulsory laws for manufacturers to produce EVs against a particular number of vehicles manufactured, support for installing EV charging points across major cities, and regulations against excessive polluting vehicles. Japan and South Korea have also been growing their markets. Their governments have supported the growth in demand for EVs by installing EV charging stations, setting emission norms, and setting deadlines for shifting to full or hybrid EVs from ICE vehicles. India has undertaken policies to increase EV demand in the market. The new vehicle scrappage policy allows old vehicles to be scrapped for adopting low-emission vehicles. Other upcoming policies are expected to help the country become the fastest-growing market for EVs in the region in the coming years, which will also drive the demand for EV batteries. Asia Pacific is home not only to top market players, such as LG Chem, Panasonic, Samsung, and CATL but also to many OEMs that are dominating the global EV market. Japan also plays a vital role in battery technology in the Asia Pacific. With advancements in technologies such as BEVs and PHEVs, the Japanese market is expected to grow. In August 2023, China's BYD Co Ltd and South Korea's KG Mobility Co Ltd were in talks to jointly build an EV battery plant in South Korea. These developments are expected to boost the market in the Asia Pacific region.

EV Battery Market Size, and Share

Key Market Players

The EV battery market is dominated by established players such as CATL (China), LG Energy Solution Ltd. (South Korea), BYD Company Ltd. (China), Panasonic Holdings Corporation (Japan), SK Innovation Co., Ltd. (South Korea) and others. These companies manufacture batteries and develop new technologies. These companies have set up R&D facilities and offer best-in-class products to their customers.

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Scope of the Report

Report Metric

Details

Market size available for years

2019–2033

Base year considered

2022

Forecast period

2023-2033

Forecast units

Volume (Thousand Units) and Value (USD Mn)

Segments Covered

Battery type, Propulsion, Battery Form, Vehicle type, material type, Battery Capacity, Method, Li-ion battery component and Region

Geographies covered

Asia Pacific, Europe, and North America

Companies Covered

CATL (China), LG Energy Solution Ltd. (South Korea), BYD Company Ltd. (China), Panasonic Holdings Corporation (Japan), and SK Innovation Co., Ltd. (South Korea)
A total of 28 major company profiles were covered and provided.

This research report categorizes the EV battery market based on Battery type, Propulsion, Battery Form, Vehicle type, material type, Battery Capacity, Method, Li-ion battery component and Region.

Based on Battery Type:
  • Lead-Acid
  • Lithium-Ion
  • Solid-State
  • Nickel-Metal Hydride
  • Sodium-Ion
  • Others
Based on Propulsion:
  • BEV
  • PHEV
  • FCEV
  • HEV
Based on Battery Form:
  • Prismatic
  • Pouch
  • Cylindrical
Based on Vehicle Type:
  • Passenger Cars
  • Vans/Light Trucks
  • Medium & Heavy Trucks
  • Buses
  • Off-Highway Vehicles
Based on Material Type:
  • Cobalt
  • Lithium
  • Natural Graphite
  • Manganese
  • Iron
  • Phosphate
  • Nickel
  • Others
Based on Battery Capacity:
  • <50 kWh
  • 50–110 kW
  • 111–200 kWh
  • 201–300 kWh
  • >300 kWh
Based on Li-Ion Battery Component:
  • Positive Electrode
  • Negative Electrode
  • Electrolyte
  • Separator
Based on the region:
  • Asia Pacific
    • China
    • India
    • Japan
    • Thailand
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • France
    • Germany
    • Spain
    • Italy
    • The UK
    • Sweden
    • Norway
    • Denmark

Recent Developments

  • In November 2023, BYD and KG Mobility signed a battery pack factory agreement to jointly develop next-generation hybrid systems.
  • In October 2023, Samsung SDI clinched a supply deal for electric vehicle batteries with Hyundai Motor Company for the first time. Samsung SDI said the company will supply prismatic batteries for Hyundai Motor’s electric vehicles, targeting the European market for seven years from 2026 through 2032.
  • In October 2023, LG Energy Solution and Toyota Motor North America, Inc. (Toyota) announced that they have signed a supply agreement for lithium-ion battery modules to be used in Toyota battery electric vehicles (BEVs) that will be assembled in the US. Under the contract, LG Energy Solution will supply automotive battery modules at an annual capacity of 20 GWh starting from 2025.
  • In July 2023, Gotion High-tech and BASF signed an MoU, aiming to combine their technological advantages to strengthen cooperation in the field of material science further and jointly promote the innovation and technological progress of power battery materials.
  • In June 2023, Vehicle Energy Japan Inc. announced that its lithium-ion battery module has been adopted in the Compact Crossover “JUKE” Hybrid, which has been launched in Europe by Nissan Motor Co., Ltd.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 31)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           TABLE 1 EV BATTERY MARKET DEFINITION, BY BATTERY TYPE
           TABLE 2 MARKET DEFINITION, BY LITHIUM-ION BATTERY COMPONENT
           TABLE 3 MARKET DEFINITION, BY PROPULSION
           TABLE 4 MARKET DEFINITION, BY VEHICLE TYPE
           TABLE 5 MARKET DEFINITION, BY MATERIAL TYPE
           TABLE 6 MARKET DEFINITION, BY METHOD
           TABLE 7 MARKET DEFINITION, BY BATTERY FORM
    1.3 INCLUSIONS AND EXCLUSIONS 
           TABLE 8 INCLUSIONS AND EXCLUSIONS FOR MARKET
    1.4 MARKET SCOPE 
           1.4.1 MARKET COVERED
                    FIGURE 1 MARKET SEGMENTATION
           1.4.2 REGIONS COVERED
    1.5 YEARS CONSIDERED 
    1.6 CURRENCY CONSIDERED 
           TABLE 9 CURRENCY EXCHANGE RATES (PER USD)
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
 
2 RESEARCH METHODOLOGY (Page No. - 42)
    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
                               TABLE 10 LIST OF PARTICIPATING COMPANIES FOR PRIMARY RESEARCH
                               FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
                    2.1.2.2 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 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
                    FIGURE 8 EV BATTERY MARKET ESTIMATION NOTES
    2.4 DATA TRIANGULATION 
           FIGURE 9 DATA TRIANGULATION
    2.5 ANALYSIS OF FACTORS IMPACTING EV MARKET 
           2.5.1 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES
    2.6 RECESSION IMPACT ANALYSIS 
    2.7 RESEARCH ASSUMPTIONS 
    2.8 RESEARCH LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 57)
    FIGURE 10 EV BATTERY MARKET OVERVIEW 
    FIGURE 11 MARKET, BY VEHICLE TYPE, 2023–2033 
    FIGURE 12 MARKET, BY REGION, 2023–2033 
 
4 PREMIUM INSIGHTS (Page No. - 61)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN EV BATTERY MARKET 
           FIGURE 13 GROWING ADOPTION OF EVS AND RISING GOVERNMENT INCENTIVES TO DRIVE MARKET
    4.2 MARKET, BY VEHICLE TYPE 
           FIGURE 14 PASSENGER CARS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.3 MARKET, BY PROPULSION 
           FIGURE 15 BEV SEGMENT HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
    4.4 MARKET, BY BATTERY FORM 
           FIGURE 16 PRISMATIC SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.5 MARKET, BY MATERIAL TYPE 
           FIGURE 17 NATURAL GRAPHITE SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
    4.6 MARKET, BY LITHIUM-ION BATTERY COMPONENT 
           FIGURE 18 NEGATIVE ELECTRODE SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.7 MARKET, BY BATTERY CAPACITY 
           FIGURE 19 50–110 KWH SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.8 MARKET, BY BATTERY TYPE 
           FIGURE 20 LITHIUM-ION TO BE LARGEST BATTERY TYPE SEGMENT DURING FORECAST PERIOD
    4.9 MARKET, BY METHOD 
           FIGURE 21 LASER BONDING SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    4.10 MARKET, BY REGION 
           FIGURE 22 ASIA PACIFIC TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 66)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 23 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing sales of EVs
                               FIGURE 24 ELECTRIC PASSENGER CAR SALES, 2019–2022
                    5.2.1.2 Improvements in battery technology
                               TABLE 11 INNOVATION IN BATTERY, BY KEY MANUFACTURER
                    5.2.1.3 Targets to reduce vehicle emissions
                               FIGURE 25 EV-RELATED POLICIES WORLDWIDE
                               TABLE 12 GOVERNMENT INITIATIVES FOR EV BATTERY DEVELOPMENT, 2020–2023
                    5.2.1.4 Launch of new plug-in models by major EV manufacturers
                               TABLE 13 LATEST EV MODELS BY OEMS, 2021-2023
                    5.2.1.5 Reducing prices of EV batteries
                               FIGURE 26 EV BATTERY PRICING ANALYSIS, 2019–2022
           5.2.2 RESTRAINTS
                    5.2.2.1 Procurement concerns related to raw materials
                               FIGURE 27 COUNTRY-WISE COBALT RESERVES, 2022
                               FIGURE 28 COUNTRY-WISE LITHIUM RESERVES, 2022
                    5.2.2.2 Low number of charging stations in emerging economies
                               TABLE 14 EV CHARGING POINTS IN EMERGING ECONOMIES, 2022
                    5.2.2.3 Development in hydrogen and ethanol vehicles
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Introduction of battery-as-a-service (BaaS) models
                               FIGURE 29 BATTERY-AS-A-SERVICE IN EVS
                    5.2.3.2 Development in solid-state batteries
                               FIGURE 30 SOLID-STATE BATTERIES’ CARBON FOOTPRINT, 2022
                    5.2.3.3 Increase in R&D efforts toward creating more advanced battery chemistries
           5.2.4 CHALLENGES
                    5.2.4.1 High initial investments and high cost of electricity
                               TABLE 15 GLOBAL AVERAGE ELECTRICITY COST, 2023
                    5.2.4.2 Low availability of lithium for use in EV batteries
                               FIGURE 31 LITHIUM-ION DEMAND AND SUPPLY, 2016–2030
                    5.2.4.3 Concerns over battery safety
                    5.2.4.4 High cost of EVs compared to ICE vehicles
                               FIGURE 32 COST COMPARISON OF EVS AND ICE VEHICLES
                               TABLE 16 IMPACT OF MARKET DYNAMICS
    5.3 AVERAGE SELLING PRICING ANALYSIS 
           5.3.1 AVERAGE SELLING PRICE, BY REGION
                    FIGURE 33 AVERAGE SELLING PRICE, BY REGION
           5.3.2 AVERAGE SELLING PRICE, BY RAW MATERIAL
                    FIGURE 34 COST PER KWH OF MAJOR RAW MATERIALS USED IN EV BATTERIES, 2022
                    FIGURE 35 COST BREAKDOWN OF CELL, BY MATERIAL, 2022
    5.4 ECOSYSTEM ANALYSIS 
           FIGURE 36 ECOSYSTEM ANALYSIS
           5.4.1 OEMS
           5.4.2 BATTERY PACK/CELL SUPPLIERS
           5.4.3 RAW MATERIAL SUPPLIERS
           5.4.4 ANODE MATERIAL SUPPLIERS
           5.4.5 CATHODE MATERIAL SUPPLIERS
                    TABLE 17 ROLE OF COMPANIES IN ECOSYSTEM
                    TABLE 18 TOP EVS WITH BATTERY SPECIFICATION
    5.5 VALUE CHAIN ANALYSIS 
           FIGURE 37 EV BATTERY MARKET: VALUE CHAIN ANALYSIS
           FIGURE 38 LITHIUM-ION BATTERY MARKET: VALUE CHAIN ANALYSIS
    5.6 CASE STUDY ANALYSIS 
           5.6.1 TECHNICAL ASSESSMENT OF REUSING RETIRED EV LITHIUM-ION BATTERIES IN THAILAND
           5.6.2 DEVELOPMENT OF BLADE BATTERY TO INCREASE ENERGY DENSITY
    5.7 PATENT ANALYSIS 
           TABLE 19 PATENT ANALYSIS (ACTIVE PATENTS), 2021–2023
           FIGURE 39 ACTIVE PATENTS RELATED TO EV BATTERIES, 2010–2022
    5.8 TECHNOLOGY ANALYSIS 
           5.8.1 INTRODUCTION
           5.8.2 IMPROVEMENTS IN BATTERY COMPOSITION
           5.8.3 ADVANCEMENTS IN BATTERY CHARGING RATE
                    FIGURE 40 CHARGING TIME FOR CARS, BY MODEL (IN HOURS)
           5.8.4 BATTERY-RELATED SERVICES
           5.8.5 BATTERY OPTIMIZATION
           5.8.6 LITHIUM-SULFUR BATTERIES
           5.8.7 SALTWATER BATTERY
           5.8.8 CELL-TO-PACK TECHNOLOGY
           5.8.9 CELL-TO-CHASSIS BATTERY TECHNOLOGY
           5.8.10 AB BATTERY SYSTEM
           5.8.11 RECYCLING AND SECOND-LIFE BATTERY
           5.8.12 SODIUM-ION BATTERY
    5.9 TARIFF AND REGULATORY LANDSCAPE 
           5.9.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 20 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 21 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 22 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 23 CHANGES 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
    5.10 TRADE DATA ANALYSIS 
           TABLE 28 TRADE DATA FOR MOTOR VEHICLES IN 2022 (HS 8703)
    5.11 LITHIUM MINING INVESTMENTS, 2022–2023 
                    TABLE 29 BATTERY MANUFACTURERS’ INVESTMENT IN LITHIUM MINING, 2022–2023
    5.12 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
                    FIGURE 41 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN EV BATTERY MARKET
    5.13 KEY CONFERENCES AND EVENTS, 2023–2024 
                    TABLE 30 LIST OF CONFERENCES AND EVENTS, 2023–2024
    5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    TABLE 31 INFLUENCE OF KEY STAKEHOLDERS ON BUYING EV BATTERIES
           5.14.2 BUYING CRITERIA
                    FIGURE 42 KEY BUYING CRITERIA
                    TABLE 32 KEY BUYING CRITERIA
 
6 EV BATTERY MARKET, BY BATTERY CAPACITY (Page No. - 111)
    6.1 INTRODUCTION 
           FIGURE 43 111-200 KWH SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 33 MARKET, BY BATTERY CAPACITY, 2019–2022 (THOUSAND UNITS)
           TABLE 34 MARKET, BY BATTERY CAPACITY, 2023–2027 (THOUSAND UNITS)
           TABLE 35 MARKET, BY BATTERY CAPACITY, 2028–2033 (THOUSAND UNITS)
           TABLE 36 MARKET, BY BATTERY CAPACITY, 2019–2022 (USD MILLION)
           TABLE 37 MARKET, BY BATTERY CAPACITY, 2023–2027 (USD MILLION)
           TABLE 38 MARKET, BY BATTERY CAPACITY, 2028–2033 (USD MILLION)
           6.1.1 OPERATIONAL DATA
                    TABLE 39 ELECTRIC VEHICLE DATA, BY MODEL AND BATTERY CAPACITY
    6.2 <50 KWH 
           6.2.1 LOWER OVERALL VEHICLE COSTS TO DRIVE MARKET
                    TABLE 40 <50 KWH: EV BATTERY MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 41 <50 KWH: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                    TABLE 42 <50 KWH: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
                    TABLE 43 <50 KWH: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 44 <50 KWH: MARKET, BY REGION, 2023–2027 (USD MILLION)
                    TABLE 45 <50 KWH: MARKET, BY REGION, 2028–2033 (USD MILLION)
    6.3 50–110 KWH 
           6.3.1 RISING DEMAND FOR ELECTRIC VANS/LIGHT TRUCKS TO DRIVE MARKET
                    TABLE 46 50–110 KWH: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 47 50–110 KWH: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                    TABLE 48 50–110 KWH: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
                    TABLE 49 50–110 KWH: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 50 50–110 KWH: MARKET, BY REGION, 2023–2027 (USD MILLION)
                    TABLE 51 50–110 KWH: MARKET, BY REGION, 2028–2033 (USD MILLION)
    6.4 111–200 KWH 
           6.4.1 INCREASING DEMAND FOR ELECTRIC COMMERCIAL VEHICLES TO DRIVE MARKET
                    TABLE 52 111–200 KWH: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 53 111–200 KWH: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                    TABLE 54 111–200 KWH: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
                    TABLE 55 111–200 KWH: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 56 111–200 KWH: MARKET, BY REGION, 2023–2027 (USD MILLION)
                    TABLE 57 111–200 KWH: MARKET, BY REGION, 2028–2033 (USD MILLION)
    6.5 201–300 KWH 
           6.5.1 FASTER ACCELERATION AND GREATER POWER OUTPUT TO DRIVE MARKET
                    TABLE 58 201–300 KWH: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 59 201–300 KWH: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                    TABLE 60 201–300 KWH: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
                    TABLE 61 201–300 KWH: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 62 201–300 KWH: MARKET, BY REGION, 2023–2027 (USD MILLION)
                    TABLE 63 201–300 KWH: MARKET, BY REGION, 2028–2033 (USD MILLION)
    6.6 >300 KWH 
           6.6.1 RISING DEMAND FOR ELECTRIC HEAVY COMMERCIAL VEHICLES TO DRIVE MARKET
                    TABLE 64 >300 KWH: EV BATTERY MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 65 >300 KWH: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                    TABLE 66 >300 KWH: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
                    TABLE 67 >300 KWH: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 68 >300 KWH: MARKET, BY REGION, 2023–2027 (USD MILLION)
                    TABLE 69 >300 KWH: MARKET, BY REGION, 2028–2033 (USD MILLION)
    6.7 KEY PRIMARY INSIGHTS 
 
7 EV BATTERY MARKET, BY BATTERY FORM (Page No. - 126)
    7.1 INTRODUCTION 
           FIGURE 44 PRISMATIC FORM TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
           TABLE 70 MARKET, BY BATTERY FORM, 2019–2022 (THOUSAND UNITS)
           TABLE 71 MARKET, BY BATTERY FORM, 2023–2027 (THOUSAND UNITS)
           TABLE 72 MARKET, BY BATTERY FORM, 2028–2033 (THOUSAND UNITS)
           TABLE 73 EV BATTERY CELL CHARACTERISTICS
           FIGURE 45 BATTERY FORMS, BY TYPE
    7.2 PRISMATIC 
           7.2.1 MORE COMPACT STRUCTURE THAN CYLINDRICAL CELL TO DRIVE MARKET
                    FIGURE 46 PRISMATIC CELL BATTERY PACK
                    TABLE 74 PRISMATIC: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 75 PRISMATIC: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                    TABLE 76 PRISMATIC: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
    7.3 POUCH 
           7.3.1 OPTIMUM CONSUMPTION FOR BATTERY SPACE TO DRIVE MARKET
                    TABLE 77 POUCH: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 78 POUCH: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                    TABLE 79 POUCH: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
    7.4 CYLINDRICAL 
           7.4.1 LOW-COST MANUFACTURING TO DRIVE MARKET
                    FIGURE 47 CROSS-SECTION OF LITHIUM-ION CYLINDRICAL CELL
                    TABLE 80 CYLINDRICAL: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 81 CYLINDRICAL: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                    TABLE 82 CYLINDRICAL: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
    7.5 KEY PRIMARY INSIGHTS 
 
8 EV BATTERY MARKET, BY BATTERY TYPE (Page No. - 138)
    8.1 INTRODUCTION 
           FIGURE 48 LITHIUM-ION BATTERY TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
           TABLE 83 MARKET, BY BATTERY TYPE, 2019–2022 (THOUSAND UNITS)
           TABLE 84 MARKET, BY BATTERY TYPE, 2023–2027 (THOUSAND UNITS)
           TABLE 85 MARKET, BY BATTERY TYPE, 2028–2033 (THOUSAND UNITS)
           8.1.1 OPERATIONAL DATA
                    TABLE 86 EV MODELS, BY BATTERY TYPE
    8.2 LITHIUM-ION 
           8.2.1 ADVANCEMENTS IN BATTERY TECHNOLOGY TO DRIVE MARKET
                    FIGURE 49 COMPARATIVE EVALUATION OF EVS USING LITHIUM-ION BATTERIES
                    TABLE 87 LITHIUM-ION: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 88 LITHIUM-ION: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                    TABLE 89 LITHIUM-ION: MARKET, BY REGION, 2028–2033 (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 HIGH TOLERANCE AND LONG LIFE CYCLE TO DRIVE MARKET
                    TABLE 90 NICKEL-METAL HYDRIDE: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                    TABLE 91 NICKEL-METAL HYDRIDE: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                    TABLE 92 NICKEL-METAL HYDRIDE: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
    8.5 SOLID-STATE 
           8.5.1 HIGH ENERGY STORAGE CAPABILITY WITH LONGER LIFESPAN TO DRIVE MARKET
                    TABLE 93 SOLID-STATE: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                    TABLE 94 SOLID-STATE: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
    8.6 SODIUM-ION 
           8.6.1 LOW-TEMPERATURE PERFORMANCE AND RAPID CHARGING TO DRIVE MARKET
    8.7 OTHER BATTERY TYPES 
           TABLE 95 OTHER BATTERY TYPES: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
           TABLE 96 OTHER BATTERY TYPES: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
           TABLE 97 OTHER BATTERY TYPES: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
    8.8 KEY PRIMARY INSIGHTS 
 
9 EV BATTERY MARKET, BY LITHIUM-ION BATTERY COMPONENT (Page No. - 150)
    9.1 INTRODUCTION 
           FIGURE 50 NEGATIVE ELECTRODE TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
           TABLE 98 MARKET, BY LITHIUM-ION BATTERY COMPONENT, 2019–2022 (USD MILLION)
           TABLE 99 MARKET, BY LITHIUM-ION BATTERY COMPONENT, 2023–2027 (USD MILLION)
           TABLE 100 MARKET, BY LITHIUM-ION BATTERY COMPONENT, 2028–2033 (USD MILLION)
           TABLE 101 ELECTROLYTE SOLVENTS, BY TEMPERATURE AND FLASHPOINT
           TABLE 102 MOST COMMONLY USED LITHIUM-ION BATTERIES AND THEIR SPECIFICATIONS
           TABLE 103 LIST OF VEHICLE MODELS AND CATHODE MATERIAL SUPPLIERS
           TABLE 104 LIST OF VEHICLE MODELS AND ANODE MATERIAL SUPPLIERS
           FIGURE 51 LITHIUM-ION BATTERY WORKING PRINCIPLE
    9.2 NEGATIVE ELECTRODE 
           9.2.1 INCREASE IN NUMBER OF NEGATIVE ELECTRODE COMPANIES IN ASIA PACIFIC TO DRIVE MARKET
                    TABLE 105 NEGATIVE ELECTRODE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 106 NEGATIVE ELECTRODE: MARKET, BY REGION, 2023–2027 (USD MILLION)
                    TABLE 107 NEGATIVE ELECTRODE: MARKET, BY REGION, 2028–2033 (USD MILLION)
    9.3 POSITIVE ELECTRODE 
           9.3.1 DEMAND FOR LONG LIFE CYCLE AND HIGH-PERFORMANCE CELLS TO DRIVE MARKET
                    TABLE 108 POSITIVE ELECTRODE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 109 POSITIVE ELECTRODE: MARKET, BY REGION, 2023–2027 (USD MILLION)
                    TABLE 110 POSITIVE ELECTRODE: MARKET, BY REGION, 2028–2033 (USD MILLION)
    9.4 ELECTROLYTE 
           9.4.1 RISING SAFETY CONCERN OF BATTERIES TO DRIVE MARKET
                    TABLE 111 ELECTROLYTE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 112 ELECTROLYTE: MARKET, BY REGION, 2023–2027 (USD MILLION)
                    TABLE 113 ELECTROLYTE: MARKET, BY REGION, 2028–2033 (USD MILLION)
    9.5 SEPARATOR 
           9.5.1 REQUIREMENT FOR SEPARATORS IN BATTERIES TO PROVIDE TEMPERATURE STABILITY TO DRIVE MARKET
                    TABLE 114 SEPARATOR: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 115 SEPARATOR: MARKET, BY REGION, 2023–2027 (USD MILLION)
                    TABLE 116 SEPARATOR: MARKET, BY REGION, 2028–2033 (USD MILLION)
    9.6 KEY PRIMARY INSIGHTS 
 
10 EV BATTERY MARKET, BY MATERIAL TYPE (Page No. - 162)
     10.1 INTRODUCTION 
               FIGURE 52 NATURAL GRAPHITE TO RECORD HIGHER CAGR DURING FORECAST PERIOD
               TABLE 117 MARKET, BY MATERIAL TYPE, 2019–2022 (USD MILLION)
               TABLE 118 MARKET, BY MATERIAL TYPE, 2023–2027 (USD MILLION)
               TABLE 119 MARKET, BY MATERIAL TYPE, 2028–2033 (USD MILLION)
             10.1.1 OPERATIONAL DATA
                       TABLE 120 TYPES OF LITHIUM-ION BATTERY CHEMISTRIES
     10.2 COBALT 
             10.2.1 HIGH ENERGY DENSITY AND POWER CAPABILITY TO DRIVE MARKET
                       TABLE 121 COBALT: MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 122 COBALT: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 123 COBALT: MARKET, BY REGION, 2028–2033 (USD MILLION)
     10.3 LITHIUM 
             10.3.1 WIDE OPERATING TEMPERATURE RANGE TO DRIVE MARKET
                       FIGURE 53 LITHIUM PRODUCTION, 2022
                       TABLE 124 LITHIUM: MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 125 LITHIUM: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 126 LITHIUM: MARKET, BY REGION, 2028–2033 (USD MILLION)
     10.4 NATURAL GRAPHITE 
             10.4.1 HIGH ELECTRICAL CONDUCTIVITY FEATURE TO DRIVE MARKET
                       TABLE 127 NATURAL GRAPHITE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 128 NATURAL GRAPHITE: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 129 NATURAL GRAPHITE: MARKET, BY REGION, 2028–2033 (USD MILLION)
     10.5 MANGANESE 
             10.5.1 DEVELOPMENT IN BATTERY TECHNOLOGY TO DRIVE MARKET
                       TABLE 130 MANGANESE: EV BATTERY MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 131 MANGANESE: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 132 MANGANESE: MARKET, BY REGION, 2028–2033 (USD MILLION)
     10.6 IRON 
             10.6.1 LOW-COST FACTOR TO DRIVE MARKET
                       TABLE 133 IRON: MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 134 IRON: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 135 IRON: MARKET, BY REGION, 2028–2033 (USD MILLION)
     10.7 PHOSPHATE 
             10.7.1 RISE IN BATTERY PRODUCTION TO DRIVE MARKET
                       TABLE 136 PHOSPHATE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 137 PHOSPHATE: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 138 PHOSPHATE: MARKET, BY REGION, 2028–2033 (USD MILLION)
     10.8 NICKEL 
             10.8.1 SHIFT TOWARD HIGH-NICKEL CATHODES TO DRIVE MARKET
                       TABLE 139 NICKEL: MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 140 NICKEL: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 141 NICKEL: MARKET, BY REGION, 2028–2033 (USD MILLION)
     10.9 OTHERS 
               TABLE 142 OTHER MATERIAL TYPES: MARKET, BY REGION, 2019–2022 (USD MILLION)
               TABLE 143 OTHER MATERIAL TYPES: MARKET, BY REGION, 2023–2027 (USD MILLION)
               TABLE 144 OTHER MATERIAL TYPES: MARKET, BY REGION, 2028–2033 (USD MILLION)
     10.1 KEY PRIMARY INSIGHTS 
 
11 EV BATTERY MARKET, BY METHOD (Page No. - 176)
     11.1 INTRODUCTION 
               FIGURE 54 LASER BONDING TO HOLD PROMINENT MARKET SHARE DURING FORECAST PERIOD
               FIGURE 55 APPLICATION OF INTERCONNECTION TECHNOLOGIES
               TABLE 145 MARKET, BY METHOD, 2019–2022 (THOUSAND UNITS)
               TABLE 146 MARKET, BY METHOD, 2023–2027 (THOUSAND UNITS)
               TABLE 147 MARKET, BY METHOD, 2028–2033 (THOUSAND UNITS)
     11.2 WIRE BONDING 
             11.2.1 LESS COMPLICATED AND TIME-CONSUMING THAN OTHER BONDING METHODS
                       TABLE 148 WIRE BONDING: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 149 WIRE BONDING: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 150 WIRE BONDING: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
     11.3 LASER BONDING 
             11.3.1 IMPROVED BOND STRENGTH AND RELIABILITY TO RESULT IN HIGHER ADOPTION OF LASER BONDING
                       TABLE 151 LASER BONDING: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 152 LASER BONDING: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 153 LASER BONDING: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
     11.4 ULTRASONIC METAL WELDING 
             11.4.1 USES HIGH-FREQUENCY SOUND WAVES TO CONNECT METAL PIECES
     11.5 KEY PRIMARY INSIGHTS 
 
12 EV BATTERY MARKET, BY PROPULSION (Page No. - 183)
     12.1 INTRODUCTION 
               FIGURE 56 EV, BY PROPULSION TYPE
               FIGURE 57 BEV SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
               TABLE 154 MARKET, BY PROPULSION, 2019–2022 (THOUSAND UNITS)
               TABLE 155 MARKET, BY PROPULSION, 2023–2027 (THOUSAND UNITS)
               TABLE 156 MARKET, BY PROPULSION, 2028–2033 (THOUSAND UNITS)
             12.1.1 OPERATIONAL DATA
                       TABLE 157 BESTSELLING EVS IN 2022
                       TABLE 158 ELECTRIC COMMERCIAL VEHICLE DATA, BY OEM, MODEL, AND PROPULSION
     12.2 BATTERY ELECTRIC VEHICLE (BEV) 
             12.2.1 GROWING EV CHARGING NETWORK TO DRIVE MARKET
                       TABLE 159 BEV: EV BATTERY MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 160 BEV: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 161 BEV: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
     12.3 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV) 
             12.3.1 TAX BENEFITS AND INCENTIVES BY GOVERNMENTS TO DRIVE MARKET
                       TABLE 162 PHEV: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 163 PHEV: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 164 PHEV: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
     12.4 FUEL CELL ELECTRIC VEHICLE (FCEV) 
             12.4.1 LONGER DRIVING RANGE AND BETTER ENVIRONMENTAL SUSTAINABILITY THAN BEVS TO DRIVE MARKET
                       TABLE 165 FCEV: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 166 FCEV: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 167 FCEV: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
     12.5 HYBRID ELECTRIC VEHICLE (HEV) 
             12.5.1 PRESENCE OF ELECTRIC POWERTRAIN IN HEVS TO DRIVE MARKET
     12.6 KEY PRIMARY INSIGHTS 
 
13 EV BATTERY MARKET, BY VEHICLE TYPE (Page No. - 193)
     13.1 INTRODUCTION 
               FIGURE 58 PASSENGER CAR SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
               TABLE 168 MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
               TABLE 169 MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
               TABLE 170 MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
               TABLE 171 MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
               TABLE 172 MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
               TABLE 173 MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             13.1.1 OPERATIONAL DATA
                       TABLE 174 EVS, BY MODEL, VEHICLE TYPE, AND PROPULSION
                       TABLE 175 POPULAR EVS WORLDWIDE, 2022–2023
                       TABLE 176 UPCOMING ELECTRIC CAR MODELS BY OEMS
                       TABLE 177 UPCOMING ELECTRIC COMMERCIAL VEHICLES BY OEMS
     13.2 PASSENGER CARS 
             13.2.1 FAVORABLE REGULATIONS AND SUBSIDIES WORLDWIDE TO DRIVE MARKET
                       TABLE 178 PASSENGER CARS: EV BATTERY MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 179 PASSENGER CARS: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 180 PASSENGER CARS: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 181 PASSENGER CARS: MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 182 PASSENGER CARS: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 183 PASSENGER CARS: MARKET, BY REGION, 2028–2033 (USD MILLION)
                       TABLE 184 PASSENGER CARS: MARKET, BY BATTERY CAPACITY, 2019–2022 (THOUSAND UNITS)
                       TABLE 185 PASSENGER CARS: MARKET, BY BATTERY CAPACITY, 2023–2027 (THOUSAND UNITS)
                       TABLE 186 PASSENGER CARS: MARKET, BY BATTERY CAPACITY, 2028–2033 (THOUSAND UNITS)
                       TABLE 187 <50 KWH: MARKET IN PASSENGER CARS, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 188 <50 KWH: MARKET IN PASSENGER CARS, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 189 <50 KWH: MARKET IN PASSENGER CARS, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 190 50–110 KWH: MARKET IN PASSENGER CARS, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 191 50–110 KWH: MARKET IN PASSENGER CARS, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 192 50–110 KWH: MARKET IN PASSENGER CARS, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 193 111–200 KWH: MARKET IN PASSENGER CARS, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 194 111–200 KWH: MARKET IN PASSENGER CARS, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 195 111–200 KWH: MARKET IN PASSENGER CARS, BY REGION, 2028–2033 (THOUSAND UNITS)
     13.3 VANS/LIGHT TRUCKS 
             13.3.1 GROWING E-COMMERCE INDUSTRY TO DRIVE MARKET
                       TABLE 196 VANS/LIGHT TRUCKS: EV BATTERY MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 197 VANS/LIGHT TRUCKS: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 198 VANS/LIGHT TRUCKS: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 199 VANS/LIGHT TRUCKS: MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 200 VANS/LIGHT TRUCKS: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 201 VANS/LIGHT TRUCKS: MARKET, BY REGION, 2028–2033 (USD MILLION)
                       TABLE 202 VANS/LIGHT TRUCKS: MARKET, BY BATTERY CAPACITY, 2019–2022 (THOUSAND UNITS)
                       TABLE 203 VANS/LIGHT TRUCKS: MARKET, BY BATTERY CAPACITY, 2023–2027 (THOUSAND UNITS)
                       TABLE 204 VANS/LIGHT TRUCKS: MARKET, BY BATTERY CAPACITY, 2028–2033 (THOUSAND UNITS)
                       TABLE 205 <50 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 206 <50 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 207 <50 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 208 50–110 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 209 50–110 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 210 50–110 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 211 111–200 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 212 111–200 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 213 111–200 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 214 201–300 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 215 201–300 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 216 201–300 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 217 >300 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 218 >300 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 219 >300 KWH: MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2028–2033 (THOUSAND UNITS)
     13.4 MEDIUM & HEAVY TRUCKS 
             13.4.1 INCREASING ADOPTION OF ELECTRIC MEDIUM AND HEAVY TRUCKS FOR SHORT AND LONG RANGES TO DRIVE MARKET
                       TABLE 220 MEDIUM & HEAVY TRUCKS: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 221 MEDIUM & HEAVY TRUCKS: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 222 MEDIUM & HEAVY TRUCKS: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 223 MEDIUM & HEAVY TRUCKS: MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 224 MEDIUM & HEAVY TRUCKS: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 225 MEDIUM & HEAVY TRUCKS: MARKET, BY REGION, 2028–2033 (USD MILLION)
                       TABLE 226 MEDIUM & HEAVY TRUCKS: MARKET, BY BATTERY CAPACITY, 2019–2022 (THOUSAND UNITS)
                       TABLE 227 MEDIUM & HEAVY TRUCKS: MARKET, BY BATTERY CAPACITY, 2023–2027 (THOUSAND UNITS)
                       TABLE 228 MEDIUM & HEAVY TRUCKS: MARKET, BY BATTERY CAPACITY, 2028–2033 (THOUSAND UNITS)
                       TABLE 229 111–200 KWH: MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 230 111–200 KWH: MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 231 111–200 KWH: MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 232 201–300 KWH: MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 233 201–300 KWH: MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 234 201–300 KWH: MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 235 >300 KWH: MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 236 >300 KWH: MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 237 >300 KWH: MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2028–2033 (THOUSAND UNITS)
     13.5 BUSES 
             13.5.1 RISING DEMAND FOR EMISSION-FREE PUBLIC TRANSPORT TO DRIVE MARKET
                       TABLE 238 ELECTRIC BUS DATA BASED ON PROPULSION
                       TABLE 239 BUSES: EV BATTERY MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 240 BUSES: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 241 BUSES: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 242 BUSES: MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 243 BUSES: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 244 BUSES: MARKET, BY REGION, 2028–2033 (USD MILLION)
                       TABLE 245 BUSES: MARKET, BY BATTERY CAPACITY, 2019–2022 (THOUSAND UNITS)
                       TABLE 246 BUSES: MARKET, BY BATTERY CAPACITY, 2023–2027 (THOUSAND UNITS)
                       TABLE 247 BUSES: MARKET, BY BATTERY CAPACITY, 2028–2033 (THOUSAND UNITS)
                       TABLE 248 111–200 KWH: MARKET IN BUSES, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 249 111–200 KWH: MARKET IN BUSES, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 250 111–200 KWH: MARKET IN BUSES, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 251 201–300 KWH: MARKET IN BUSES, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 252 201–300 KWH: MARKET IN BUSES, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 253 201–300 KWH: MARKET IN BUSES, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 254 >300 KWH: MARKET IN BUSES, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 255 >300 KWH: MARKET IN BUSES, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 256 >300 KWH: MARKET IN BUSES, BY REGION, 2028–2033 (THOUSAND UNITS)
     13.6 OFF-HIGHWAY VEHICLES 
             13.6.1 GROWING DEMAND FOR HIGH-POWER HEAVY-DUTY ELECTRIC TRUCKS FOR VARIOUS INDUSTRIAL APPLICATIONS TO DRIVE MARKET
                       TABLE 257 MAJOR OFF-HIGHWAY VEHICLE MODELS
                       TABLE 258 OFF-HIGHWAY VEHICLES: MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 259 OFF-HIGHWAY VEHICLES: MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 260 OFF-HIGHWAY VEHICLES: MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 261 OFF-HIGHWAY VEHICLES: MARKET, BY REGION, 2019–2022 (USD MILLION)
                       TABLE 262 OFF-HIGHWAY VEHICLES: MARKET, BY REGION, 2023–2027 (USD MILLION)
                       TABLE 263 OFF-HIGHWAY VEHICLES: MARKET, BY REGION, 2028–2033 (USD MILLION)
                       TABLE 264 OFF-HIGHWAY VEHICLES: MARKET, BY BATTERY CAPACITY, 2019–2022 (THOUSAND UNITS)
                       TABLE 265 OFF-HIGHWAY VEHICLES: MARKET, BY BATTERY CAPACITY, 2023–2027 (THOUSAND UNITS)
                       TABLE 266 OFF-HIGHWAY VEHICLES: MARKET, BY BATTERY CAPACITY, 2028–2033 (THOUSAND UNITS)
                       TABLE 267 <50 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 268 <50 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 269 <50 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 270 50–110 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 271 50–110 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 272 50–110 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 273 111–200 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 274 111–200 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 275 111–200 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 276 201–300 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 277 201–300 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 278 201–300 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2028–2033 (THOUSAND UNITS)
                       TABLE 279 >300 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2019–2022 (THOUSAND UNITS)
                       TABLE 280 >300 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2023–2027 (THOUSAND UNITS)
                       TABLE 281 >300 KWH: MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2028–2033 (THOUSAND UNITS)
     13.7 KEY PRIMARY INSIGHTS 
 
14 EV BATTERY MARKET, BY REGION (Page No. - 235)
     14.1 INTRODUCTION 
               FIGURE 59 INVESTMENT AND ELECTRIFICATION TARGET BY TOP OEMS
               FIGURE 60 PARTNERSHIP OF EV OEMS WITH BATTERY MANUFACTURERS
               FIGURE 61 ASIA PACIFIC TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
               TABLE 282 MARKET, BY REGION, 2019–2022 (THOUSAND UNITS)
               TABLE 283 MARKET, BY REGION, 2023–2027 (THOUSAND UNITS)
               TABLE 284 MARKET, BY REGION, 2028–2033 (THOUSAND UNITS)
               TABLE 285 MARKET, BY REGION, 2019–2022 (USD MILLION)
               TABLE 286 MARKET, BY REGION, 2023–2027 (USD MILLION)
               TABLE 287 MARKET, BY REGION, 2028–2033 (USD MILLION)
     14.2 ASIA PACIFIC 
             14.2.1 RECESSION IMPACT ANALYSIS
                       FIGURE 62 ASIA PACIFIC: EV BATTERY MARKET SNAPSHOT
                       TABLE 288 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2022 (THOUSAND UNITS)
                       TABLE 289 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2027 (THOUSAND UNITS)
                       TABLE 290 ASIA PACIFIC: MARKET, BY COUNTRY, 2028–2033 (THOUSAND UNITS)
                       TABLE 291 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                       TABLE 292 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2027 (USD MILLION)
                       TABLE 293 ASIA PACIFIC: MARKET, BY COUNTRY, 2028–2033 (USD MILLION)
             14.2.2 CHINA
                       14.2.2.1 Rising EV sales to drive market
                                   TABLE 294 EV MOBILITY LANDSCAPE IN CHINA
                                   TABLE 295 BESTSELLING EVS IN CHINA, 2022
                                   TABLE 296 CHINA: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 297 CHINA: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 298 CHINA: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 299 CHINA: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 300 CHINA: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 301 CHINA: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.2.3 JAPAN
                       14.2.3.1 Full exemption of PHEVs from automobile acquisition tax to drive market
                                   TABLE 302 JAPAN: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 303 JAPAN: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 304 JAPAN: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 305 JAPAN: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 306 JAPAN: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 307 JAPAN: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.2.4 INDIA
                       14.2.4.1 Plans for 30% EV sales by 2030 to drive market
                                   TABLE 308 INDIA: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 309 INDIA: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 310 INDIA: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 311 INDIA: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 312 INDIA: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 313 INDIA: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.2.5 SOUTH KOREA
                       14.2.5.1 Introduction of battery-powered electric buses to drive market
                                   TABLE 314 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 315 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 316 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 317 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 318 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 319 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.2.6 THAILAND
                       14.2.6.1 Government incentives and 2030 target to drive market
                                   TABLE 320 THAILAND: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 321 THAILAND: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 322 THAILAND: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 323 THAILAND: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 324 THAILAND: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 325 THAILAND: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
     14.3 EUROPE 
               FIGURE 63 EV SALES BY OEMS, BY PROPULSION, 2022
             14.3.1 RECESSION IMPACT ANALYSIS
                       FIGURE 64 EUROPE: EV BATTERY MARKET SNAPSHOT
                       TABLE 326 EUROPE: MARKET, BY COUNTRY, 2019–2022 (THOUSAND UNITS)
                       TABLE 327 EUROPE: MARKET, BY COUNTRY, 2023–2027 (THOUSAND UNITS)
                       TABLE 328 EUROPE: MARKET, BY COUNTRY, 2028–2033 (THOUSAND UNITS)
                       TABLE 329 EUROPE: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                       TABLE 330 EUROPE: MARKET, BY COUNTRY, 2023–2027 (USD MILLION)
                       TABLE 331 EUROPE: MARKET, BY COUNTRY, 2028–2033 (USD MILLION)
                       FIGURE 65 EXPANSION PLANS FOR BATTERY PLANTS IN EUROPE
             14.3.2 FRANCE
                       14.3.2.1 Increase in e-commerce transport to drive market
                                   TABLE 332 FRANCE: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 333 FRANCE: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 334 FRANCE: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 335 FRANCE: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 336 FRANCE: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 337 FRANCE: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.3.3 GERMANY
                       14.3.3.1 Government and OEM plans for rapid EV shift to drive market
                                   TABLE 338 GERMANY: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 339 GERMANY: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 340 GERMANY: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 341 GERMANY: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 342 GERMANY: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 343 GERMANY: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.3.4 SPAIN
                       14.3.4.1 Increasing investments in EV space to drive market
                                   TABLE 344 SPAIN: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 345 SPAIN: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 346 SPAIN: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 347 SPAIN: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 348 SPAIN: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 349 SPAIN: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.3.5 ITALY
                       14.3.5.1 Technological development in EV batteries to drive market
                                   TABLE 350 ITALY: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 351 ITALY: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 352 ITALY: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 353 ITALY: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 354 ITALY: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 355 ITALY: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.3.6 UK
                       14.3.6.1 Rise in investments in EV ecosystem to drive market
                                   TABLE 356 UK: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 357 UK: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 358 UK: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 359 UK: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 360 UK: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 361 UK: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.3.7 DENMARK
                       14.3.7.1 Favorable EV regulations to drive market
                                   TABLE 362 DENMARK: EV BATTERY MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 363 DENMARK: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 364 DENMARK: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 365 DENMARK: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 366 DENMARK: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 367 DENMARK: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.3.8 NORWAY
                       14.3.8.1 Replacement of ICE vehicles with advanced EVs to drive market
                                   TABLE 368 NORWAY: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 369 NORWAY: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 370 NORWAY: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 371 NORWAY: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 372 NORWAY: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 373 NORWAY: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.3.9 SWEDEN
                       14.3.9.1 Ongoing incentive and subsidy plans to drive market
                                   TABLE 374 SWEDEN: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 375 SWEDEN: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 376 SWEDEN: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 377 SWEDEN: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 378 SWEDEN: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 379 SWEDEN: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
     14.4 NORTH AMERICA 
             14.4.1 RECESSION IMPACT ANALYSIS
                       FIGURE 66 EV BATTERY INITIATIVES IN NORTH AMERICA TILL 2022
                       FIGURE 67 US TO HOLD DOMINANT MARKET SHARE IN NORTH AMERICA DURING FORECAST PERIOD
                       TABLE 380 NORTH AMERICA: EV BATTERY MARKET, BY COUNTRY, 2019–2022 (THOUSAND UNITS)
                       TABLE 381 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2027 (THOUSAND UNITS)
                       TABLE 382 NORTH AMERICA: MARKET, BY COUNTRY, 2028–2033 (THOUSAND UNITS)
                       TABLE 383 NORTH AMERICA: MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                       TABLE 384 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2027 (USD MILLION)
                       TABLE 385 NORTH AMERICA: MARKET, BY COUNTRY, 2028–2033 (USD MILLION)
             14.4.2 US
                       14.4.2.1 Increasing demand for electric trucks to drive market
                                   TABLE 386 US: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 387 US: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 388 US: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 389 US: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 390 US: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 391 US: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
             14.4.3 CANADA
                       14.4.3.1 Government support to promote EVs to drive market
                                   TABLE 392 CANADA: MARKET, BY VEHICLE TYPE, 2019–2022 (THOUSAND UNITS)
                                   TABLE 393 CANADA: MARKET, BY VEHICLE TYPE, 2023–2027 (THOUSAND UNITS)
                                   TABLE 394 CANADA: MARKET, BY VEHICLE TYPE, 2028–2033 (THOUSAND UNITS)
                                   TABLE 395 CANADA: MARKET, BY VEHICLE TYPE, 2019–2022 (USD MILLION)
                                   TABLE 396 CANADA: MARKET, BY VEHICLE TYPE, 2023–2027 (USD MILLION)
                                   TABLE 397 CANADA: MARKET, BY VEHICLE TYPE, 2028–2033 (USD MILLION)
 
15 COMPETITIVE LANDSCAPE (Page No. - 293)
     15.1 OVERVIEW 
     15.2 MARKET SHARE ANALYSIS, 2022 
               TABLE 398 DEGREE OF COMPETITION, 2022
               FIGURE 68 MARKET SHARE ANALYSIS, 2022
             15.2.1 CATL
             15.2.2 LG ENERGY SOLUTION LTD.
             15.2.3 BYD COMPANY LTD.
             15.2.4 PANASONIC HOLDINGS CORPORATION
             15.2.5 SK INNOVATION CO., LTD.
     15.3 KEY PLAYERS’ STRATEGIES 
               TABLE 399 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN EV BATTERY MARKET
     15.4 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS 
               FIGURE 69 TOP PUBLIC/LISTED PLAYERS DOMINATING MARKET DURING LAST 5 YEARS
     15.5 COMPANY EVALUATION MATRIX 
             15.5.1 STARS
             15.5.2 EMERGING LEADERS
             15.5.3 PERVASIVE PLAYERS
             15.5.4 PARTICIPANTS
             15.5.5 COMPANY FOOTPRINT
                       TABLE 400 MARKET: COMPANY FOOTPRINT, 2022
                       TABLE 401 MARKET: PRODUCT FOOTPRINT, 2022
                       TABLE 402 MARKET: REGIONAL FOOTPRINT, 2022
                       FIGURE 70 MARKET: COMPANY EVALUATION MATRIX, 2022
     15.6 START-UP/SME EVALUATION MATRIX 
             15.6.1 PROGRESSIVE COMPANIES
             15.6.2 RESPONSIVE COMPANIES
             15.6.3 DYNAMIC COMPANIES
             15.6.4 STARTING BLOCKS
             15.6.5 COMPETITIVE BENCHMARKING
                       TABLE 403 EV BATTERY MARKET: LIST OF KEY START-UPS/SMES
                       TABLE 404 MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
                       FIGURE 71 MARKET: START-UP/SME EVALUATION MATRIX, 2022
     15.7 COMPETITIVE SCENARIO 
             15.7.1 PRODUCT LAUNCHES
                       TABLE 405 PRODUCT LAUNCHES, 2021–2023
             15.7.2 DEALS
                       TABLE 406 DEALS, 2021–2023
                       TABLE 407 OTHERS, 2021–2023
 
16 COMPANY PROFILES (Page No. - 326)
(Business overview, Products offered, Recent developments & MnM View)*
     16.1 KEY PLAYERS 
             16.1.1 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED
                       TABLE 408 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: COMPANY OVERVIEW
                       FIGURE 72 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: COMPANY SNAPSHOT
                       FIGURE 73 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: PATENT ANALYSIS
                       TABLE 409 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: SUPPLY AGREEMENTS
                       TABLE 410 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: PRODUCTS OFFERED
                       TABLE 411 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 412 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: DEALS
                       TABLE 413 CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED: OTHERS
             16.1.2 LG ENERGY SOLUTION
                       TABLE 414 LG ENERGY SOLUTION: COMPANY OVERVIEW
                       FIGURE 74 LG ENERGY SOLUTION: COMPANY SNAPSHOT
                       TABLE 415 LG ENERGY SOLUTION: R&D OVERVIEW
                       TABLE 416 LG ENERGY SOLUTION: SUPPLY AGREEMENTS
                       FIGURE 75 LG ENERGY SOLUTION: EV SOLUTION
                       TABLE 417 LG ENERGY SOLUTION: PRODUCTS OFFERED
                       TABLE 418 LG ENERGY SOLUTION: DEALS
                       TABLE 419 LG ENERGY SOLUTION: OTHERS
             16.1.3 BYD COMPANY LIMITED
                       TABLE 420 BYD COMPANY LIMITED: COMPANY OVERVIEW
                       FIGURE 76 BYD COMPANY LIMITED: COMPANY SNAPSHOT
                       TABLE 421 BYD COMPANY LIMITED: PRODUCTS OFFERED
                       TABLE 422 BYD COMPANY LIMITED: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 423 BYD COMPANY LIMITED: DEALS
                       TABLE 424 BYD COMPANY LIMITED: OTHERS
             16.1.4 PANASONIC HOLDINGS CORPORATION
                       TABLE 425 PANASONIC HOLDINGS CORPORATION: COMPANY OVERVIEW
                       FIGURE 77 PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT
                       TABLE 426 PANASONIC HOLDINGS CORPORATION: SUPPLY AGREEMENTS
                       TABLE 427 PANASONIC HOLDINGS CORPORATION: PRODUCTS OFFERED
                       TABLE 428 PANASONIC HOLDINGS CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 429 PANASONIC HOLDINGS CORPORATION: DEALS
                       TABLE 430 PANASONIC HOLDINGS CORPORATION: OTHERS
             16.1.5 SK INNOVATION CO., LTD.
                       TABLE 431 SK INNOVATION CO., LTD.: COMPANY OVERVIEW
                       FIGURE 78 SK INNOVATION CO., LTD.: COMPANY SNAPSHOT
                       TABLE 432 SK INNOVATION CO., LTD.: SUPPLY AGREEMENTS
                       FIGURE 79 SK INNOVATION CO., LTD.: GLOBAL BATTERY PRODUCTION
                       TABLE 433 SK INNOVATION CO., LTD.: PRODUCTS OFFERED
                       TABLE 434 SK INNOVATION CO., LTD.: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 435 SK INNOVATION CO., LTD.: DEALS
                       TABLE 436 SK INNOVATION CO., LTD.: OTHERS
             16.1.6 SAMSUNG SDI CO., LTD.
                       TABLE 437 SAMSUNG SDI CO., LTD.: COMPANY OVERVIEW
                       FIGURE 80 SAMSUNG SDI CO., LTD.: COMPANY SNAPSHOT
                       TABLE 438 SAMSUNG SDI CO., LTD.: SUPPLY AGREEMENTS
                       FIGURE 81 SAMSUNG SDI CO., LTD.: GLOBAL FOOTPRINT
                       TABLE 439 SAMSUNG SDI CO., LTD.: PRODUCTS OFFERED
                       TABLE 440 SAMSUNG SDI CO., LTD.: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 441 SAMSUNG SDI CO., LTD.: DEALS
                       TABLE 442 SAMSUNG SDI CO., LTD.: OTHERS
             16.1.7 CALB
                       TABLE 443 CALB: COMPANY OVERVIEW
                       FIGURE 82 CALB: COMPANY SNAPSHOT
                       TABLE 444 CALB: PRODUCTS OFFERED
                       TABLE 445 CALB: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 446 CALB: DEALS
             16.1.8 GOTION HIGH-TECH CO., LTD.
                       TABLE 447 GOTION HIGH-TECH CO., LTD.: COMPANY OVERVIEW
                       FIGURE 83 GOTION HIGH-TECH CO., LTD.: COMPANY SNAPSHOT
                       TABLE 448 GOTION HIGH-TECH CO., LTD.: PRODUCTS OFFERED
                       TABLE 449 GOTION HIGH-TECH CO., LTD.: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 450 GOTION HIGH-TECH CO., LTD.: DEALS
                       TABLE 451 GOTION HIGH-TECH CO., LTD.: OTHERS
             16.1.9 SUNWODA ELECTRONIC CO., LTD.
                       TABLE 452 SUNWODA ELECTRONIC CO., LTD.: COMPANY OVERVIEW
                       FIGURE 84 SUNWODA ELECTRONIC CO., LTD.: COMPANY SNAPSHOT
                       TABLE 453 SUNWODA ELECTRONIC CO., LTD.: PRODUCTS OFFERED
                       TABLE 454 SUNWODA ELECTRONIC CO., LTD.: DEALS
                       TABLE 455 SUNWODA ELECTRONIC CO., LTD.: OTHERS
             16.1.10 FARASIS ENERGY (GANZHOU) CO., LTD.
                       TABLE 456 FARASIS ENERGY (GANZHOU) CO., LTD.: COMPANY OVERVIEW
                       FIGURE 85 FARASIS ENERGY (GANZHOU) CO., LTD.: COMPANY SNAPSHOT
                       TABLE 457 FARASIS ENERGY (GANZHOU) CO., LTD.: PRODUCTS OFFERED
                       TABLE 458 FARASIS ENERGY (GANZHOU) CO., LTD.: DEALS
                       TABLE 459 FARASIS ENERGY (GANZHOU) CO., LTD.: OTHERS
             16.1.11 VEHICLE ENERGY JAPAN INC.
                       TABLE 460 VEHICLE ENERGY JAPAN INC.: COMPANY OVERVIEW
                       TABLE 461 VEHICLE ENERGY JAPAN INC.: SUPPLY AGREEMENTS
                       TABLE 462 VEHICLE ENERGY JAPAN INC.: PRODUCTS OFFERED
                       TABLE 463 VEHICLE ENERGY JAPAN INC.: DEALS
                       TABLE 464 VEHICLE ENERGY JAPAN INC.: OTHERS
             16.1.12 TOSHIBA CORPORATION
                       TABLE 465 TOSHIBA CORPORATION: COMPANY OVERVIEW
                       FIGURE 86 TOSHIBA CORPORATION: COMPANY SNAPSHOT
                       TABLE 466 TOSHIBA CORPORATION: PRODUCTS OFFERED
                       TABLE 467 TOSHIBA CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 468 TOSHIBA CORPORATION: DEALS
                       TABLE 469 TOSHIBA CORPORATION: OTHERS
             16.1.13 MITSUBISHI CORPORATION
                       TABLE 470 MITSUBISHI CORPORATION: COMPANY OVERVIEW
                       FIGURE 87 MITSUBISHI CORPORATION: COMPANY SNAPSHOT
                       TABLE 471 MITSUBISHI CORPORATION: PRODUCTS OFFERED
                       TABLE 472 MITSUBISHI CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 473 MITSUBISHI CORPORATION: DEALS
                       TABLE 474 MITSUBISHI CORPORATION: OTHERS
             16.1.14 ENERSYS
                       TABLE 475 ENERSYS: COMPANY OVERVIEW
                       FIGURE 88 ENERSYS: COMPANY SNAPSHOT
                       TABLE 476 ENERSYS: PRODUCTS OFFERED
                       TABLE 477 ENERSYS: PRODUCT LAUNCHES/DEVELOPMENTS
                       TABLE 478 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 479 EXIDE INDUSTRIES LIMITED: COMPANY OVERVIEW
             16.2.2 PRIMEARTH EV ENERGY CO., LTD.
                       TABLE 480 PRIMEARTH EV ENERGY CO., LTD.: COMPANY OVERVIEW
             16.2.3 E-ONE MOLI ENERGY CORP.
                       TABLE 481 E-ONE MOLI ENERGY CORP: COMPANY OVERVIEW
             16.2.4 TARGRAY TECHNOLOGY INTERNATIONAL INC.
                       TABLE 482 TARGRAY TECHNOLOGY INTERNATIONAL INC.: COMPANY OVERVIEW
             16.2.5 ALTAIR NANOTECHNOLOGIES INC.
                       TABLE 483 ALTAIR NANOTECHNOLOGIES INC.: COMPANY OVERVIEW
             16.2.6 CLARIOS
                       TABLE 484 CLARIOS: COMPANY OVERVIEW
             16.2.7 NORTHVOLT AB
                       TABLE 485 NORTHVOLT AB: COMPANY OVERVIEW
             16.2.8 LECLANCHÉ SA
                       TABLE 486 LECLANCHÉ SA: COMPANY OVERVIEW
             16.2.9 APTIV PLC
                       TABLE 487 APTIV PLC: COMPANY OVERVIEW
             16.2.10 ENVISION ENERGY
                       TABLE 488 ENVISION ENERGY: COMPANY OVERVIEW
             16.2.11 A123 SYSTEMS
                       TABLE 489 A123 SYSTEMS: COMPANY OVERVIEW
             16.2.12 GS YUASA INTERNATIONAL LTD.
                       TABLE 490 GS YUASA INTERNATIONAL LTD.: COMPANY OVERVIEW
             16.2.13 AUTOMOTIVE ENERGY SUPPLY CORPORATION
                       TABLE 491 AUTOMOTIVE ENERGY SUPPLY CORPORATION: COMPANY OVERVIEW
             16.2.14 RUIPU LANJUN ENERGY CO., LTD.
                       TABLE 492 RUIPU LANJUN ENERGY CO., LTD.: COMPANY OVERVIEW
 
17 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 415)
     17.1 TECHNOLOGICAL DEVELOPMENTS IN EV BATTERY MARKET 
     17.2 EUROPE TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD 
     17.3 DEMAND FOR EFFICIENT AND LOW-COST BATTERY CHEMISTRY TO DRIVE MARKET 
     17.4 CONCLUSION 
 
18 APPENDIX (Page No. - 417)
     18.1 KEY INSIGHTS OF INDUSTRY EXPERTS 
     18.2 DISCUSSION GUIDE 
     18.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     18.4 CUSTOMIZATION OPTIONS 
             18.4.1 ADDITIONAL COMPANY PROFILE
             18.4.2 MARKET, BY PROPULSION TYPE AT THE COUNTRY LEVEL
             18.4.3 EV BATTERY MARKET, BY PROPULSION TYPE AT THE VEHICLE TYPE LEVEL
     18.5 RELATED REPORTS 
     18.6 AUTHOR DETAILS 

This research study involved the extensive use of secondary sources, such as company annual reports/presentations, industry association publications, automotive magazine articles, directories, technical handbooks, the World Economic Outlook, trade websites, technical articles, and databases, to identify and collect information on the EV battery market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players (EV battery and EV battery component manufacturers), and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess market prospects.

Secondary Research

In the secondary research process, various secondary sources were used to identify and collect information for this study. The secondary sources include annual reports, press releases, and investor presentations of companies; whitepapers, certified publications; articles from recognized authors, directories, and databases; and articles from recognized associations and government publishing sources. Secondary research has been used to obtain key information about the industry’s value chain, the overall pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from the market- and technology-oriented perspectives.

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, trade associations, institutes, R&D centers, and OEMs/vehicle manufacturers) and supply (EV battery manufacturers, EV component manufacturers, and raw material suppliers) sides 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 primary interviews. This, along with the in-house subject matter experts’ opinions, 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 approach was used to estimate and validate the total market size. This method was also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research
  • The industry’s supply chain and market size, in terms of volume, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

EV Battery Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

EV Battery Market Size, and Share

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Market Definition

According to the Batteries Directive 2006/66/EC, batteries are defined as any source of electrical energy generated by direct conversion of chemical energy and consisting of one or more primary battery cells (non-rechargeable) or one or more secondary battery cells (rechargeable). An EV battery is a rechargeable battery used to power BEVs), PHEVs, and HEVs. An EV battery usually comprises numerous small, individual cells arranged in series or parallel to achieve the desired voltage and capacity.

List of Key Stakeholders

  • Automotive OEMs
  • Battery-related Service Providers
  • End Users
  • EV Battery Casing Manufacturers
  • EV Component Manufacturers
  • EV Battery Manufacturing Organizations
  • EV Battery Cell Manufacturing Organizations
  • EV Battery Pack Manufacturing Organizations
  • EV Battery Raw Material Miners and Suppliers
  • EV Battery Raw Material Refinery Companies
  • EV Infrastructure Component Manufacturers
  • EV Infrastructure Developers
  • Government Bodies (who directly and indirectly provide incentives, aid, and orders to EV manufacturers)
  • Manufacturers of Electric Vehicles (EVs)
  • Regulatory Bodies
  • Traders and Distributors of Electric Vehicles
  • Traders, Distributors, and Suppliers of EV Battery Components

Report Objectives

  • To define, describe, and project the electric vehicle (EV) battery market in terms of volume (thousand units) and value (USD million)
  • To analyze and forecast the market based on battery type, lithium-ion battery component, propulsion, vehicle type, method, battery capacity, material type, battery form, and region
  • To analyze and forecast the market, in terms of value, based on lithium-ion battery component (positive electrode, negative electrode, electrolyte, and separator)
  • To analyze and forecast the market, in terms of volume, based on propulsion [battery electric vehicle (BEV), plug-hybrid electric vehicle (PHEV), and fuel cell electric vehicle (FCEV) and hybrid electric vehicle (HEV)].
  • To analyze and forecast the market 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 in terms of 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 in terms of value based on material type (cobalt, lithium, natural graphite, manganese, iron, phosphate, nickel, and others)
  • To analyze and forecast the market in terms of volume based on battery form (prismatic, pouch, and cylindrical)
  • To analyze and forecast market in terms of volume based on battery type (lead-acid, lithium-ion, solid-state, nickel-metal hydride, sodium-ion, and others)
  • To analyze and forecast the market in terms of volume based on method (wire bonding, laser bonding, and ultrasonic metal welding)
  • 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 provide detailed information regarding major factors, such as drivers, restraints, opportunities, and challenges influencing the growth of the market

Available Customizations

With the given market data, MarketsandMarkets offers customizations in accordance with company-specific needs.

  • Additional company profile
  • EV battery market, by propulsion type at the country level
  • EV battery market, by propulsion type at the vehicle type level
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
AT 7840
Published ON
Jan, 2024
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