Electric Vehicle Battery

Electric Vehicle Battery Market to be Worth $415.9 Billion by 2031

Global Electric Vehicle Battery Market - 20232031 Meticulous Research , a leading global market research company, has released a new study 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 report, the Electric Vehicle Battery Market is expected to grow to $415.9 billion by 2031, with a CAGR of 33.1% from 2023 to 2031. This growth is driven by favorable government policies, falling battery prices, and increased investments by major automotive manufacturers. However, the market may face challenges such as limited lithium mining capacity and the lower energy density of lithium-ion batteries. The report highlights the increasing adoption of electric vehicles in emerging markets, rising investments in lithium-ion battery production, and the growth of battery-as-a-service models as significant opportunities for market players. Nonetheless, safety concerns related to EV batteries could hinder market growth. The Electric Vehicle Battery Market is segmented by type, battery capacity, bonding type, battery form, application, end user, and geography, with detailed analysis provided at regional and country levels. The lithium-ion battery segment is expected to dominate the market, driven by its high energy density, compact design, and durability. This segment is also projected to grow at the highest rate during the forecast period. Key industry developments highlighted in the report include BMW Group's partnership with Rimac Technology to develop high-voltage EV batteries and Hyundai Motor's collaboration with Exide Energy to enhance battery production capabilities in India. These collaborations reflect the Page 1 of 3 Meticulous Research| sales@meticulousresearch.com

Global Electric Vehicle Battery Market - 20232031 strategic efforts of automotive OEMs to secure their battery supply chains and achieve technological leadership in the EV battery market. The 51kWh to 100kWh battery capacity segment is anticipated to lead the market, driven by the launch of long-range electric vehicles and increased adoption in developing regions. The laser bonding segment is expected to witness the highest growth, owing to its precision and minimal heat generation during the welding process. The prismatic battery form is predicted to hold the largest market share, while the pouch battery segment is expected to grow the fastest, driven by its higher energy density and safety features. The electric cars segment, particularly those using lithium-ion batteries, is expected to dominate the market, with light commercial vehicles projected to experience the highest growth rate. Asia-Pacific is expected to lead the market, supported by the rapid adoption of electric vehicles and government incentives. Europe, however, is anticipated to record the highest growth rate, driven by investments in battery manufacturing and the European Battery Alliance's efforts to boost regional production. Key Players: The key players operating in the global electric vehicle Battery market are 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.), and QuantumScape Corporation (U.S.). Download Sample Report Here @ https://www.meticulousresearch.com/download- sample-report/cp_id=5210 Key Questions Answered in the Report: What are the high-growth market segments in terms of the 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? Page 2 of 3 Meticulous Research| sales@meticulousresearch.com

Global Electric Vehicle Battery Market - 20232031 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? Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 3 of 3 Meticulous Research| sales@meticulousresearch.com