EV Battery Industry Analysis：the global EV Battery market size is projected to reach USD 491.44 billion by 2029

Electric vehicles (EVs) use rechargeable batteries as their primary energy storage system. These batteries are a critical component of electric vehicles and play a significant role in determining the vehicle's performance, range, and overall efficiency.

Above data is based on report from QYResearch: Global EV Battery Market Report 2023-2029 (published in 2023). If you need the latest data, plaese contact QYResearch.

According to the new market research report “EV Battery - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global EV Battery market size is projected to reach USD 491.44 billion by 2029, at a CAGR of 22.3% during the forecast period.

• Global EV Battery MarketSize(US$ Million), 2018-2029

Source: QYResearch, "EV Battery - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

• Global EV Battery Top15 Players RankingandMarket Share (Ranking is based on the revenue of 2022, continually updated)

Source: QYResearch, "EV Battery - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

According to QYResearch Top Players Research Center, the global key manufacturers of EV Battery include CATL, LG Energy Solution, BYD, Panasonic, Samsung SDI, SK On, Guoxuan High-tech, CALB Group, EVE Energy, Sunwoda, etc.

In 2022, the global top five players had a share approximately 76.0% in terms of revenue.

• EV Battery,Global Market Size, Split by Product Segment

Source: QYResearch, "EV Battery - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

In terms of product type, currently NCx Battery is the largest segment, hold a share of 68.7%.

• EV Battery,Global Market Size, Split by ApplicationSegment

Source: QYResearch, "EV Battery - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

In terms of product application, currently BEV is the largest segment, hold a share of 71.4%.

• EV Battery,Global Market Size, Split by Region (Production)

Source: QYResearch, "EV Battery - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

Market Drivers:

Increasing demand for electric vehicles (EVs) driven by environmental concerns and government incentives.

Technological advancements leading to improved battery energy density, performance, and cost reduction.

Growing investment in EV infrastructure, including charging stations and battery recycling facilities.

Restraint:

High initial cost of electric vehicle batteries compared to traditional internal combustion engine vehicles.

Limited availability of raw materials, such as lithium and cobalt, for battery production.

Concerns about battery safety, longevity, and environmental impact, including end-of-life disposal.

Opportunity:

Expansion of the electric vehicle market with the introduction of new models and improved battery technologies.

Development of innovative battery chemistries, such as solid-state batteries, offering higher energy density and improved safety.

Government initiatives and regulations promoting the adoption of electric vehicles and supporting battery research and development.

About The Authors

Tongtong Niu - Lead Author

Email: niutongtong@qyresearch.com

About QYResearch

QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.

QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.

Contact Us:

If you have any queries regarding this report or if you would like further information, please contact us:

QY Research Inc.

Add: 17890 Castleton Street Suite 369 City of Industry CA 91748 United States

E-mail: global@qyresearch.com

Tel: 001-626-842-1666(US) 0086-133 1872 9947(CN)

EN: https://www.qyresearch.com

JP: https://www.qyresearch.co.jp