Meticulous Research®—a leading global market research company, has published a research report titled, "Electric Vehicle Battery Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitors, Solid-state Battery), Battery Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Battery Form, Application, End User, and Geography - Global Forecast to 2031."

According to this latest publication from Meticulous Research®, the Electric Vehicle Battery Market is projected to reach $415.9 billion by 2031, at a CAGR of 33.1% from 2023 to 2031. The growth of the electric vehicle battery market is driven by supportive government policies and regulations, decreasing battery prices, and increasing investment by leading automotive OEMs. However, the potential shortfall in lithium mining capabilities and the low energy density of lithium-ion batteries restrain the growth of this market.

Furthermore, increasing adoption of electric mobility in emerging economies, growing investments in developing lithium-ion battery capacity, and growing deployment of battery-as-a-service are expected to offer significant growth opportunities for players operating in the electric vehicle battery market. However, potential safety issues in EV batteries may hinder the growth of this market.

The electric vehicle battery market is segmented based on type (lithium-ion battery, sealed lead acid battery, nickel-metal hydride battery, ultracapacitors, solid-state battery, and other battery types), battery capacity (less than 50kWh, 51kWh to 100kWh, 101kWh to 300kWh, and more than 300kWh), bonding type (wire bonding and laser bonding), battery form (prismatic, pouch, and cylindrical), application {electric cars (battery electric vehicles, plug-in hybrid electric vehicles, and pure hybrid electric vehicles), light commercial vehicles, heavy commercial vehicles (electric buses and electric trucks), E-scooters & motorcycles, and E-bikes}, end user (electric vehicle OEMs and battery swapping stations), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Market Segmentation:

1. Type:

• Lithium-ion Battery
• Sealed Lead Acid Battery
• Nickel-metal Hydride Battery
• Ultracapacitors
• Solid-state Battery

 

1. Battery Capacity:

• Less than 50kWh
• 51kWh to 100kWh
• 101kWh to 300kWh
• More than 300kWh

 

1. Bonding Type:

• Wire Bonding
• Laser Bonding

 

1. Battery Form:

• Prismatic
• Pouch
• Cylindrical

 

1. Application:

• Electric Cars

• Battery Electric Vehicles
• Plug-in Hybrid Electric Vehicles
• Pure Hybrid Electric Vehicles

• Light Commercial Vehicles
• Heavy Commercial Vehicles

• Electric Buses
• Electric Trucks

• E-scooters & Motorcycles
• E-bikes

 

1. End User:

• Electric Vehicle OEMs
• Battery Swapping Stations

 

1. Geography:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

 

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Key Findings:

The lithium-ion battery segment is expected to account for the largest share of the global electric vehicle battery market in 2024 due to its higher energy density, compactness, durability, and lightweight.

The 51kWh to 100kWh segment is expected to account for the largest share of the global electric vehicle battery market in 2024, driven by increasing initiatives by leading automotive OEMs to launch long-range and more powerful electric cars.

The wire bonding segment is expected to account for the largest share of the global electric vehicle battery market in 2024 due to its high reliability, low production cost, and better thermal relief properties.

The prismatic segment is expected to account for the largest share of the global electric vehicle battery market in 2024 due to its better space utilization and high-power quality.

The electric cars segment is expected to account for the largest share of the global electric vehicle battery market in 2024 due to growing concerns regarding the negative environmental effects of vehicular emissions and supportive government initiatives to decarbonize transportation.

The electric vehicle OEMs segment is expected to account for the larger share of the global electric vehicle battery market in 2024 due to increasing consumer adoption of EVs for personal use and increasing investment by automotive OEMs in EV battery manufacturing capacities.

Asia-Pacific is expected to account for the largest share of the global electric vehicle battery market in 2024 due to the penetration of electric vehicles at a higher rate compared to other regions.

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Key Players:

SK Innovations Co. Ltd. (South Korea), LG Chem, Ltd (South Korea), Farasis Energy (GanZhou) Co., Ltd. (China), SVOLT Energy Technology Co., Ltd. (China), BYD Company Limited (China), Samsung SDI Co., Ltd. (South Korea), GS Yuasa International Ltd. (Japan), Vehicle Energy Japan Inc. (Japan), Northvolt AB (Sweden), Panasonic Corporation (Japan), Contemporary Amperex Technology Co. Limited (CATL) (China), A123 Systems, LLC (China), Exide Industries Ltd. (India), Primearth EV Energy Co., Ltd. (Japan), E-One Moli Energy Corp. (Taiwan), StoreDot Ltd. (Israel), NOHMs Technologies, Inc. (U.S.), Lithium Werks B.V. (Netherlands), Faradion Limited (U.K.), QuantumScape Corporation (U.S.)

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Key Questions Answered in the Report:

• What are the high-growth market segments in terms of type, battery capacity, bonding type, battery form, application, and end user?
• What is the historical market size for the global electric vehicle battery market?
• What are the market forecasts and estimates for 2024–2031?
• What are the major drivers, restraints, opportunities, challenges, and trends in the global electric vehicle battery market?
• Who are the major players in the global electric vehicle battery market, and what are their market shares?
• What is the competitive landscape like?
• What are the recent developments in the global electric vehicle battery market?
• What are the different strategies adopted by major market players?
• What are the trends and high-growth countries?
• Who are the local emerging players in the global electric vehicle battery market, and how do they compete with other players?

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