Worldwide EV Battery Vehicle Industry to 2027 - Players Include CATL, Panasonic and LG Chem Among Others
DUBLIN, Feb. 17, 2022 /PRNewswire/ -- The "Global EV Battery Vehicle Market" report has been added to ResearchAndMarkets.com's offering.
An electric-vehicle battery (EVB, also known as a traction battery) is a battery used to power the electric motors of a battery electric vehicles (BEV) or hybrid electric vehicle (HEV). These batteries are usually rechargeable (secondary) batteries and are typically lithium-ion batteries. These batteries are specifically designed for a high ampere-hour (or kilowatt-hour) capacity.
Drivers:
Launch of New Plug-In Models
The electric vehicle market is witnessing exponential growth across geographies. Major automobile manufacturers are entering the EV market due to the growing demand for EVs. Several major automakers such as Toyota, Tata Motors, Mercedes-Benz, and Hyundai are working on EV models to expand their position in the automotive industry. With major automakers taking an interest in the EV space, developments in electric vehicles are expected to increase in the near future.
Restraints:
Concerns Over Battery Safety
Most EV batteries are considered safe as they undergo various tests before being put into use. However, there have been incidents - such as the recall of 68,000 Chevy EV Bolts after five fire incidents related to batteries - that have raised doubts on the safety of these batteries. EV batteries consist of various inflammable materials such as lithium, manganese, and plastics. Lithium is also highly reactive when exposed to water. Thus, there are concerns over the performance and safety of these batteries in hot or waterlogged environments.
Impact of COVID-19
Although, the overall production and sales of new vehicles came to a halt across the globe due to the outbreak of COVID-19, however the impact on electric vehicles was positive. The number of EVs sold in 2020 was more than the total EVs sold in 2019. However, component manufacturing was affected negatively. Due to the pandemic, many countries imposed a complete lockdown of more than two months, which, in turn, impacted the production of electric vehicles and battery components. Manufacturing units around the world were shut down, and electric vehicle sales took a significant hit initially. However, the majority of the automakers resumed vehicle production with limited production and necessary measures.
Segmentation By Battery Type
The Battery Type segment is bifurcated into Lithium Ion, Lead-Acid, Nickel-Metal Hydride, Solid State and Others. The Lithium Ion will be the leading EV battery Market During the forecast period. These batteries have higher energy density compared to lead-acid or nickel-metal hydride batteries and are the one commonly used Their compact size makes them preferable in the automotive industry. For example, Nissan's lithium-ion battery technology allows a greater density of lithium ions to be stored, increasing travel distance. Alternatives such as advanced batteries and supercapacitors cannot easily replace lithium-ion batteries due to their performance, cost, weight, and size.
Segmentation by LI-ION Battery Component Type:
The LI-ION Battery Component type is segmented into Negative Electrode, Positive Electrode, Electrolyte, and Separator.
Segmentation by Propulsion
The Propulsion segment is bifurcated into Battery Electric Vehicles, Hybrid Electric Vehicles, Plug- Hybrid Electric vehicles, Fuel Cell Electric Vehicles.
Segmentation by Vehicle Type
The Vehicle Type segment is bifurcated into Passenger Car, Vans/Light Trucks, Medium & Heavy Trucks, Buses, Off Heavy Vehicles. The passenger car segment is expected to be the largest vehicle type market. The passenger cars segment is expected to lead the EV battery market in Asia Pacific due to the high adoption rate of EVs in China. The region alone considered using 61% of all cobalt used globally in EV batteries in 2019, a rise of almost 50% in 2018 (Source: USGS National Minerals Information Center). This growth can be attributed to the shift of Chinese cell suppliers from lithium to cobalt bearing NCM cathodes.
Segmentation by Battery Capacity
The Battery Capacity segment is further divided into < 50Kwh, 50-110 KWH, 111-200 KWH, 201-300KWH, 7>300 KWH. Based on capacity, the 50kWh to 100kWh segment is expected to account for the largest share of the EV batteries market. The large share of this segment is mainly attributed to increasing initiatives by leading automotive OEMs to launch long-range and more powerful electric cars, increasing adoption of electric cars in developing economies, and targets set by governments across the world to phase out internal combustion engine vehicles by 2027.
Segmentation by Material Type
The Material type is segmented into Cobalt, Lithium, Natural Graphite, Manganese. Lithium and cobalt are witnessed to lead the market in the given forecast period.
Segmentation by Method Type
The Method Type is segmented into Wire Bonding and Laser Bonding. The large share of this segment is mainly attributed to the high reliability of wire bonding technology, low production cost, better thermal relief properties, lesser scrap production, and easy replaceability of faulty wire bonds. Wire bonding can handle extreme temperature ranges, shock, and vibrations over increasingly longer lifetimes. Wire bonding is increasingly used for applications such as battery cell-to-cell connections, battery cell-to-busbar connections, and battery management system (BMS) interconnects.
Segmentation by Battery form
The Battery form type is segmented into Prismatic, Pouch, Cylindrical. The prismatic segment is expected to account for the largest share of the EV batteries market in 2020. The major share of this segment is attributed to factors such as a very thin profile providing better space utilization, allows flexibility in battery design, and high-power quality.
Segmentation by Region
By Region the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Europe is estimated to account for a share of 31.0% of the global EV battery market, by volume, in 2020 and is projected to grow at a CAGR of 34.8 % during the forecast period. The growth of the EV battery market in the region is largely dependent on government incentives and funds as electric vehicles are currently very expensive.
Countries such as Germany, France, Spain, UK, Italy, Norway, Sweden, and Denmark are considered under Europe for market analysis. The presence of OEMs such as VDL Groep (Netherlands) and AB Volvo (Sweden) offers opportunities for the growth of the EV battery market in the region. The increasingly stringent regulations related to environmental issues are propelling market players to test and develop advanced vehicles, which will further boost the market for advanced battery technologies.
Competitive Landscape:
The major players in the market are CATL (China), Panasonic (Japan), LG Chem (South Korea), BYD (China), and Samsung SDI (South Korea).
Key Topics Covered:
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Electric Vehicle Battery Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Electric Vehicle Battery Market, By Battery type
5.1 Y-o-Y Growth Comparison, By Battery Type
5.2 Electric Vehicle Battery Market Share Analysis, By Battery Type
5.3 Electric Vehicle Battery Market Size and Forecast, By Battery Type
5.3.1 Lithium-ION
5.3.2 Lead-Acid
5.3.3 Nickel Metal Hydride
5.3.4 Solid State
5.3.5 Others
6 Electric Vehicle Battery Market, By LI-ION Battery Component
6.1 Y-o-Y Growth Comparison, By LI-ION Battery Component
6.2 Electric Vehicle Battery Market Share Analysis, By LI-ION Battery Component
6.3 Electric Vehicle Battery Market Size and Forecast, By LI-ION Battery Component
6.3.1 Negative Electrode
6.3.2 Positive Electrode
6.3.3 Electrolyte
6.3.4 Separator
7 Electric Vehicle Battery Market, By Propulsion
7.1 Y-o-Y Growth Comparison, By Propulsion
7.2 Electric Vehicle Battery Market Share Analysis, By Propulsion
7.3 Electric Vehicle Battery Market Size and Forecast, By Propulsion
7.3.1 Battery Electric Vehicles
7.3.2 Hybrid Electric Vehicles
7.3.3 Plug Hybrid Electric Vehicles
7.3.4 Fuel Cell Electric Vehicles
8 Electric Vehicle Battery Market, By Vehicle Type
8.1 Y-o-Y Growth Comparison, By Vehicle Type
8.2 Electric Vehicle Battery Market Share Analysis, By Vehicle Type
8.3 Electric Vehicle Battery Market Size and Forecast, By Vehicle Type
8.3.1 Passenger Cars
8.3.2 Vans/Light Trucks
8.3.3 Medium & Heavy Trucks
8.3.4 Buses
8.3.5 Off Highway Vehicles
9 Electric Vehicle Battery Market, By Battery Capacity
9.1 Y-o-Y Growth Comparison, By Battery Capacity
9.2 Electric Vehicle Battery Market Share Analysis, By Battery Capacity
9.3 Electric Vehicle Battery Market Size and Forecast, By Battery Capacity
9.3.1 < 50 KWH
9.3.2 50-110 KWH
9.3.3 111-200 KWH
9.3.4 201-300 KWH
9.3.5 7>300
10 Electric Vehicle Battery Market, By Material Type
10.1 Y-o-Y Growth Comparison, By Material Type
10.2 Electric Vehicle Battery Market Share Analysis, By Material Type
10.3 Electric Vehicle Battery Market Size and Forecast, By Material Type
10.3.1 Cobalt
10.3.2 Lithium
10.3.3 Natural Graphite
10.3.4 Manganese
11 Electric Vehicle Battery Market, By Method
11.1 Y-o-Y Growth Comparison, By Method
11.2 Electric Vehicle Battery Market Share Analysis, By Method
11.3 Electric Vehicle Battery Market Size and Forecast, By Method
11.3.1 Wire Bonding
11.3.2 Laser Bonding
12 Electric Vehicle Battery Market, By Battery Form
12.1 Y-o-Y Growth Comparison, By Battery Form
12.2 Electric Vehicle Battery Market Share Analysis, By Battery Form
12.3 Electric Vehicle Battery Market Size and Forecast, By Battery Form
12.3.1 Prismatic
12.3.2 Pouch
12.3.3 Cylindrical
13 Electric Vehicle Battery Market, By Region
14 North America Electric Vehicle Battery Market Analysis and Forecast (2021-2027)
15 Europe Electric Vehicle Battery Market Analysis and Forecast (2021-2027)
16 Asia Pacific Electric Vehicle Battery Market Analysis and Forecast (2021-2027)
17 Latin America Electric Vehicle Battery Market Analysis and Forecast (2021-2027)
18 Middle East Electric Vehicle Battery Market Analysis and Forecast (2021-2027)
19 Competitive Analysis
19.1 Competition Dashboard
19.2 Market share Analysis of Top Vendors
19.3 Key Development Strategies
20. Company Profiles
20.1 CATL (China)
20.1.1 Overview
20.1.2 Offerings
20.1.3 Key Financials
20.1.4 Business Segment & Geographic Overview
20.1.5 Key Market Developments
20.1.6 Key Strategies
20.2 Panasonic (Japan)
20.2.1 Overview
20.2.2 Offerings
20.2.3 Key Financials
20.2.4 Business Segment & Geographic Overview
20.2.5 Key Market Developments
20.2.6 Key Strategies
20.3 LG Chem (South Korea)
20.3.1 Overview
20.3.2 Offerings
20.3.3 Key Financials
20.3.4 Business Segment & Geographic Overview
20.3.5 Key Market Developments
20.3.6 Key Strategies
20.4 BYD (CHINA)
20.4.1 Overview
20.4.2 Offerings
20.4.3 Key Financials
20.4.4 Business Segment & Geographic Overview
20.4.5 Key Market Developments
20.4.6 Key Strategies
20.5 Samsung SDI (South Korea)
20.5.1 Overview
20.5.2 Offerings
20.5.3 Key Financials
20.5.4 Business Segment & Geographic Overview
20.5.5 Key Market Developments
20.5.6 Key Strategies
For more information about this report visit https://www.researchandmarkets.com/r/fesmsj
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article