Market Leader - High Voltage Battery Market
The global high voltage battery market is projected to grow from USD 8.9 billion in 2018 to USD 89.1 billion by 2025, at a CAGR of 38.95% during the forecast period. The market growth is primarily driven by factors such as the increasing demand for higher acceleration and significant investments by governments toward smart transportation.
The key strategy adopted by the major players in the high voltage battery market from 2014 to 2018 is new product developments. Battery manufacturers and tier-I suppliers are focusing on the development of technology, infrastructure, and components compatible with high voltage electric vehicles. For instance, in May 2017, Continental developed an innovative charging technology called “AllCharge” that uses the electric powertrain of an EV (Electric Vehicle) as a universal charger supporting all types of cable-based charging stations. AllCharge can always use the maximum output rate-up to 800V and 350 kW—at all types of stations, single-phase, and three-phase AC or high-speed DC. The supply contracts/collaborations/partnerships/joint ventures strategy is ranked 2nd amongst all the strategies adopted by companies in the high voltage battery market. OEMs joined hands with battery manufacturers, in the field of high voltage battery, to gain a competitive advantage. For instance, in July 2018, BYD announced a strategic cooperation agreement with Changan Automobile to manufacture batteries for electric vehicles jointly.
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The high voltage battery market is dominated by a few global players and comprises several regional players. Panasonic (Japan) is identified as the leading player in the high voltage battery market. The company is one of the established players and a globally renowned supplier of high voltage battery to electric vehicles. The company follows the strategy of new product developments to gain a competitive edge in the high voltage battery market. In September 2018, Panasonic developed the technology to visualize the movement of the lithium-ions in the next-generation batteries during the charging and discharging processes. Additionally, Panasonic is working with Tesla for the manufacturing of Model 3 batteries.
CATL (China) is also one of the leading players in the high voltage battery market. The company deals with major OEMs, such as PSA (France), BMW (Germany), Yutong Bus (China) , and Zhongtong Bus (China), across the globe. In addition, the company aims to have a global lithium-ion production capacity of 50 GWh by 2020. It has adopted the strategy of partnerships/collaborations/joint ventures/agreements/supply contracts to increase its presence in the high voltage battery market. In July 2018, CATL began cooperation with Ford-partner and EV manufacturer, Jiangling Motors. The duo is planning to do research and development on different vehicle models for their cooperation.
Related Reports:
High Voltage Battery Market By Capacity (75-150, 151-225, 226-300, >300kWh), Type (NCA, NMC, LFP, Others), Range (100-250, 251-400, 401-550, >550 Miles), Voltage (400-600, >600V), Vehicle Type (Truck, Bus, Passenger Car) and Region-Global Forecast to 2025
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