EV Battery Market by Battery Capacity (<50, 50-110, 111-200, 201-300 and >300), Battery Form (Wire, Laser), Propulsion (BEV, PHEV, PHEV, FCEV), Battery Type, Material Type, Li-ion Battery Component, Method, Vehicle Type & Region - Global Forecast to 2025

Description

Description

The global EV battery market is projected to grow at a CAGR of 25.3% from USD 27.3 billion in 2021 to USD 67.2 billion by 2025. Increasing demand of electric vehicles, improvement in battery technology, supporting government policies and regulations, and launch of new plug-in EV models are factors responsible to drive the EV battery market.

 

Today, with the increasing concerns raised over the environmental impact of conventional vehicles, governments around the world are encouraging the adoption of vehicles using alternative sources of fuel. EVs are zero-emission vehicles and are gaining preference for clean public transport across countries. Several national governments offer financial incentives, such as tax exemptions and rebates, subsidies, reduced parking/toll fees for EVs, and free charging, to encourage the adoption of EVs. Thus, globally the requirement of EV battery is gaining fast pace.

 

COVID-19 Impact On EV battery market:

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, and small Tier II & Tier III manufacturers faced liquidity issues.

 

However, the industry witnessed a slow recovery from the second half of 2020, with global deliveries of BEVs and PHEVs increasing 43% year-on-year, though the global light vehicle market witnessed a decline in growth by 14%. According to EV-Volumes, the global EV market share increased from 2.5% in 2019 to 4.2% in 2020. Almost 1.4 million plug-in EVs were sold in Europe in 2020, 137% more than in 2019. Key factors for the growth in Europe were new models; incentive boosts by green recovery funds; the 95g CO2 emission mandate; and the intense promotion of plug-in EVs. In China, NEV sales recovered in the second half of 2020, with a growth rate of more than 80% year-on-year from July to December. EV sales in the US increased by 4%, despite the Tesla Model-Y launch. A decline in EVs sales was witnessed in countries like Japan, Canada, and Australia.

 

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.

 

EV battery makers suffered from a significant reduction in revenue in Q1 of 2020 due to the COVID-19 pandemic, though sales and net profit improved by Q3 of 2020. Sales of Samsung SDI in the li-ion battery segment fell by 18.8% compared to the previous quarter (Q4-2019), with the company’s net profit decreasing by 33.1%. The impact of COVID-19 on Panasonic was significant due to a reduction in demand and investment in China. Panasonic’s overall sales for FY 2019-20 (Ending March 31, 2020) decreased by 6%, while it’s operating profit (non-adjusted) declined by 29%. Although the pandemic impacted the revenues of major players, the sale of electric vehicles increased in many countries, leading to overall growth in the EV battery market in 2020. Additionally, upcoming supply contracts and new product developments are expected to lead to a steady recovery post 2020, further supporting the growth of the EV battery market.

Market Dynamics:

Driver: Launch of new plug-in models by major EV manufacturers

The electric vehicle market is witnessing exponential growth across geographies. Thus, 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.

 

Some of the other factors influencing automobile manufacturers to enter the EV market include:

 

  • a functioning supply chain and dealers’ network capable of handling volumes larger than the current EV market
  • existing major players in conventional vehicles having sufficient experience in other aspects of vehicles, like aesthetics and comfort, that might otherwise be overlooked

Major automakers/OEMs entering the EV market are partnering with major EV battery companies to take advantage of the rapidly growing market.

 

Restraint: 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. According to the National Fire Protection Association (NFPA) of the US, most EV fires in the country from 2013-2017 resulted from battery power systems. The association also stated that major reasons for the EV battery fire were heavy temperature fluctuations, heavy rain, and overcharging.

 

Opportunity: Introduction of the battery-as-a-service model (BaaS)

Companies are coming up with business models like battery swapping and battery-as-a-service (BaaS) that allow users to change/swap EV batteries once discharged. This saves users the time spent on recharging the batteries, thereby improving customer satisfaction and addressing one of the main reasons consumers refrain from opting for EVs.

 

Several Chinese EV battery manufacturers, such as NIO, follow the BaaS model that de-couples the battery from the EV. The BaaS model enables EV owners to rent battery services monthly instead of buying a battery with the EV. The model has two major advantages: consumers can save money on battery cost, and they do not have to worry about battery depreciation. Such models benefit both, consumers and manufacturers, as manufacturers can accurately predict the market size and potential by tying up with companies providing battery-as-a-service models.

 

Challenge: Reduction in subsidies in major markets

Purchase subsidies were reduced in key markets, such as China and France. For example, the Chinese Ministry of Finance announced plans to cut down on subsidies associated with electric cars by about half in 2019, 20% in 2021, and 30% by 2022. However, vehicles for public transport and those costing below USD 42,000 would continue to receive subsidies, with the new ruling only hitting luxury car brands. Since the Chinese Ministry of Finance only provides subsidies for cars with a high battery capacity, EV battery manufacturers have to either provide car manufacturers with high-capacity batteries or reduce battery prices to ensure the overall cost of a vehicle falls under the subsidized range. Though this is done to boost local manufacturing, EV battery manufacturers may struggle as they would need to improve battery capacity to receive more subsidies while keeping the price of the battery low.

 

The passenger cars 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.

 

Panasonic, one of the major suppliers of batteries to OEMs like Tesla and Toyota, has deployed more lithium batteries in 2019 than all of its competitors globally. CATL quadrupled its lithium batteries deployment year-over-year to 4,800 tons in 2019. In 2020, CATL also successfully tested its liquid cooling battery energy storage system (BESS) based on lithium iron phosphate (LFP) and cleared all the safety tests.

 

The lithium-ion segment in battery type will be leading the EV battery market during the forecast period

Lithium-ion batteries are the most common battery type used in modern electric vehicles. These batteries have higher energy density compared to lead-acid or nickel-metal hydride batteries. Their compact size makes them preferable in the automotive industry. For example, Nissan's lithium-ion battery technology allows a higher 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.

 

The European EV battery market is projected to be the fastest by 2025

Europe is estimated to account for a share of 31.0% of the global EV battery market, by volume, in 2021 and is projected to grow at a CAGR of 35.3% 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. For example, Brexit deal creates an opportunity for Nissan to expand the business operations at its Sunderland plant. In return, the Japanese OEMs is even investing in the UK and other European countries. Nissan is interested to build additional battery production capacity in Sunderland. In September 2020, Mercedes-Benz, a subsidiary of Daimler AG, introduced its new all-electric eCitaro G, optionally equipped with innovative solid-state batteries. In December 2019, Volvo Trucks, a subsidiary of AB Volvo, developed heavy-duty electric concept trucks for construction operations and regional distribution.

 

France is expected to be the fastest-growing market for EV batteries in the region. The initiatives undertaken by the French government to promote electric commercial vehicles and electrification of public transport fleets are driving the country’s EV battery market. The government in Germany is also focusing on increasing the use of electric vehicles.

 

Major battery manufactures have been expanding their networks in the European region that has allowed significant growth of EVs and batteries. For instance, in 2017, Samsung SDI has invested about USD 1.3 billion to expand its factory in Hungary. This allowed Samsung to start production in 2018 on the Hungary plant, which produced batteries for 50,000 EVs

 

Key Market Players

CATL (China), Panasonic (Japan), LG Chem (South Korea), BYD (China), and Samsung SDI (South Korea) are the major companies operating in the global EV battery market. The key strategies adopted by these companies to sustain their market position are new product developments,merges & acquistions, supply contracts, partnerships, expanisons, collaborations, acquisitions, and contracts & agreements.

 

Report Metric

Details

Market size available for years

2018–2025

Base year considered

2020

Forecast period

2021-2025

Forecast units

Value (USD Million) and Volume (Units)

Segments covered

Battery Type, Li-Ion Battery Component, Propulsion, Vehicle Type, Method, Battery Capacity, Material Type, Battery Form, And Region

Geographies covered

Asia Pacific, Europe, and North America

Companies Covered

CATL (China), Panasonic (Japan), LG Chem (South Korea), BYD (China), and Samsung SDI (South Korea)

 A total of 25 major company profiles covered and provided

 

This research report categorizes the EV battery market based on battery type, li-ion battery component, propulsion, vehicle type, method, battery capacity, material type, battery form, and region.

 

Based on the battery type:

  • Lead-acid
  • Lithium-ion
  • Nickel-metal Hydride
  • Solid-state

 

Based on the Li-ion battery component:

  • Positive Electrode
  • Negative Electrode
  • Electrolyte
  • Separator

Based on the propulsion:

  • BEV
  • HEV
  • PHEV
  • FCEV

 

Based on the vehicle type:

  • Passenger Cars
  • Vans/Light Trucks
  • Medium & Heavy Trucks
  • Buses
  • Off-highway Vehicles

 

Based on the method:

  • Wire Bonding
  • Laser Bonding

 

Based on the battery capacity:

  • <50 kWh
  • 50-110 kWh
  • 111-200 kWh
  • 201-300 kWh
  • >300 kWh

Based on the battery form:

  • Prismatic
  • Cyindrical
  • Pouch

Based on the material type:

  • Lithium
  • Cobalt
  • Manganese
  • Natural Graphite

 

Based on the region:

Asia Pacific

  • China
  • India
  • Japan
  • South Korea
  • Thailand

North America

  • US
  • Canada
  • Mexico

 

Europe

  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Sweden
  • Denmark
  • Norway

Covered Key Topics

Growth Opportunities Market Growth Drivers
Leading Market Players Company Market Share
Market Size and Growth Rate Market Trend and Technological

TOC

TABLE OF CONTENTS

 

1 INTRODUCTION

    1.1 OBJECTIVES OF THE STUDY

    1.2 MARKET DEFINITION

           1.2.1 INCLUSIONS & EXCLUSIONS

                 TABLE 1 INCLUSIONS & EXCLUSIONS FOR EV BATTERY MARKET

    1.3 MARKET SCOPE

        FIGURE 1 MARKET SEGMENTATION: EV BATTERY MARKET

           1.3.1 YEARS CONSIDERED FOR THE STUDY

    1.4 STAKEHOLDERS

 

2 RESEARCH METHODOLOGY

    2.1 RESEARCH DATA

        FIGURE 2 RESEARCH DESIGN

        FIGURE 3 RESEARCH METHODOLOGY MODEL

           2.1.1 SECONDARY DATA

                    2.1.1.1 List of key secondary sources

                    2.1.1.2 Key data from secondary sources

           2.1.2 PRIMARY DATA

                 FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, & REGION

                    2.1.2.1 List of primary participants

    2.2 MARKET ESTIMATION METHODOLOGY

        FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING

    2.3 MARKET SIZE ESTIMATION

           2.3.1 BOTTOM-UP APPROACH

                 FIGURE 6 GLOBAL EV BATTERY MARKET SIZE: BOTTOM-UP APPROACH

           2.3.2 TOP-DOWN APPROACH

                 FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY FOR EV BATTERY MARKET: TOP-DOWN APPROACH

                 FIGURE 8 EV BATTERY MARKET: RESEARCH DESIGN & METHODOLOGY

                 FIGURE 9 EV BATTERY MARKET: RESEARCH METHODOLOGY ILLUSTRATION OF SAMSUNG SDI REVENUE ESTIMATION

           2.3.3 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDE

    2.4 DATA TRIANGULATION

        FIGURE 10 DATA TRIANGULATION

    2.5 FACTOR ANALYSIS

    2.6 RESEARCH ASSUMPTIONS

    2.7 RESEARCH LIMITATIONS

 

3 EXECUTIVE SUMMARY

  FIGURE 11 EV BATTERY MARKET: MARKET DYNAMICS

  FIGURE 12 EV BATTERY MARKET, BY REGION, 2021–2025

  FIGURE 13 PASSENGER CARS SEGMENT ESTIMATED TO LEAD EV BATTERY MARKET FROM 2021 TO 2025

    3.1 COVID-19 IMPACT ON EV BATTERY MARKET, 2018–2025

 

4 PREMIUM INSIGHTS

    4.1 ATTRACTIVE OPPORTUNITIES IN THE EV BATTERY MARKET

        FIGURE 14 INCREASING ADOPTION OF ELECTRIC VEHICLES AND GROWING GOVERNMENT INCENTIVES WILL DRIVE THE MARKET IN THE NEXT 5 YEARS

    4.2 EV BATTERY MARKET, BY REGION

        FIGURE 15 ASIA PACIFIC IS ESTIMATED TO ACCOUNT FOR THE LARGEST SHARE OF THE EV BATTERY MARKET IN 2021

    4.3 ASIA PACIFIC EV BATTERY MARKET, BY COUNTRY & VEHICLE TYPE

        FIGURE 16 CHINA ESTIMATED TO BE THE LARGEST EV BATTERY MARKET IN ASIA PACIFIC IN 2021

    4.4 EV BATTERY MARKET, BY VEHICLE TYPE

        FIGURE 17 PASSENGER CARS SEGMENT EXPECTED TO BE THE LARGEST SEGMENT FROM 2021 TO 2025

    4.5 EV BATTERY MARKET, BY PROPULSION

        FIGURE 18 FCEV SEGMENT PROJECTED TO GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD (BY VOLUME)

    4.6 EV BATTERY MARKET, BY BATTERY FORM

        FIGURE 19 PRISMATIC SEGMENT EXPECTED TO BE THE LARGEST SEGMENT FROM 2021 TO 2025

    4.7 EV BATTERY MARKET, BY METHOD

        FIGURE 20 LASER BONDING SEGMENT IS PROJECTED TO GROW AT A HIGHER CAGR DURING THE FORECAST PERIOD (BY VOLUME)

    4.8 EV BATTERY MARKET, BY MATERIAL

        FIGURE 21 LITHIUM IS ESTIMATED TO BE THE LARGEST SEGMENT IN 2021

    4.9 EV BATTERY MARKET, BY LI-ION BATTERY COMPONENT

        FIGURE 22 ELECTROLYTE IS ESTIMATED TO BE THE LARGEST SEGMENT IN 2021 (BY VALUE)

    4.10 EV BATTERY MARKET, BY BATTERY CAPACITY

         FIGURE 23 50-110 KWH IS ESTIMATED TO BE THE LARGEST SEGMENT IN 2021

    4.11 EV BATTERY MARKET, BY BATTERY TYPE

         FIGURE 24 LITHIUM-ION BATTERY TYPE IS ESTIMATED TO BE THE LARGEST SEGMENT IN 2021

 

5 MARKET OVERVIEW

    5.1 INTRODUCTION

    5.2 MARKET DYNAMICS

        FIGURE 25 EV BATTERY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES

           5.2.1 DRIVERS

                    5.2.1.1 Increasing demand for electric vehicles

                            TABLE 2 GOVERNMENT INCENTIVES, BY COUNTRY

                    5.2.1.2 Improvement in battery technology

                            TABLE 3 EV BATTERY IMPROVEMENTS/INNOVATION

                            FIGURE 26 DAWN OF EUROPEAN GIGAFACTORIES: ANNOUNCED LITHIUM ION BATTERY CELL PRODUCTION SITES

                    5.2.1.3 Government policies & regulations

                            TABLE 4 GOVERNMENT REGULATIONS

                    5.2.1.4 Launch of new plug-in models by major EV manufacturers

                            TABLE 5 PARTNERSHIPS BY OEMS

           5.2.2 RESTRAINTS

                    5.2.2.1 Procurement concerns related to raw materials

                    5.2.2.2 Concerns over battery safety

           5.2.3 OPPORTUNITIES

                    5.2.3.1 Rising electric micromobility

                            FIGURE 27 GLOBAL EV SALES, 2017-2019

                    5.2.3.2 Introduction of the battery-as-a-service model (BaaS)

           5.2.4 CHALLENGES

                    5.2.4.1 Reduction in subsidies in major markets

                            TABLE 6 SUBSIDIES OFFERED FOR ELECTRIC VEHICLES IN CHINA

                    5.2.4.2 Charging-related issues

           5.2.5 IMPACT OF MARKET DYNAMICS

                  TABLE 7 IMPACT OF MARKET DYNAMICS

    5.3 EV BATTERY MARKET, MARKET SCENARIOS (2021–2025)

        FIGURE 28 EV BATTERY MARKET: FUTURE TRENDS & SCENARIOS, 2020–2025

           5.3.1 MOST LIKELY SCENARIO

                  TABLE 8 EV BATTERY MARKET: MOST LIKELY SCENARIO, BY REGION, 2018–2025 (USD MILLION)

           5.3.2 OPTIMISTIC SCENARIO

                  TABLE 9 EV BATTERY MARKET: OPTIMISTIC SCENARIO, BY REGION, 2020–2025 (USD MILLION)

           5.3.3 PESSIMISTIC SCENARIO

                  TABLE 10 EV BATTERY MARKET: PESSIMISTIC SCENARIO, BY REGION, 2020–2025 (USD MILLION)

    5.4 PORTER’S FIVE FORCES ANALYSIS

        FIGURE 29 PORTER’S FIVE FORCES: EV BATTERY MARKET

        TABLE 11 EV BATTERY MARKET: PORTER’S FIVE FORCES ANALYSIS

           5.4.1 THREAT OF NEW ENTRANTS

                    5.4.1.1 Major automobile giants entering the EV market

                    5.4.1.2 Emergence of new companies

                    5.4.1.3 Incentives by governments throughout the world for EV battery manufacturing

                    5.4.1.4 Strict safety regulations

           5.4.2 THREAT OF SUBSTITUTES

                    5.4.2.1 Types of automobile batteries

                    5.4.2.2 Threat of substitution of lithium-ion battery

                    5.4.2.3 Development of new types of batteries

                    5.4.2.4 Development of alternative clean-fuel vehicles

           5.4.3 BARGAINING POWER OF BUYERS

                    5.4.3.1 Declining prices of EV batteries

                    5.4.3.2 Increased demand for EV batteries

                    5.4.3.3 Major buyers of EV batteries

                    5.4.3.4 Increasing demand for micro-mobility

                    5.4.3.5 Demand for EVs for public transportation

           5.4.4 BARGAINING POWER OF SUPPLIERS

                    5.4.4.1 Change in demand of major raw materials

                    5.4.4.2 Prices of major raw materials

                    5.4.4.3 Emphasis on eliminating the requirement of certain raw materials

                    5.4.4.4 Limited sources and non-uniform distribution of raw materials

           5.4.5 INTENSITY OF COMPETITIVE RIVALRY

                    5.4.5.1 Currently limited number of major players

                    5.4.5.2 Exceptional growth of certain companies

                    5.4.5.3 Heavy R&D in battery technology

                    5.4.5.4 Requirement of technical know-how

                    5.4.5.5 Entry of large automakers in EV market

    5.5 PRICING ANALYSIS

        FIGURE 30 PRICE OF EV BATTERY PER KWH

        FIGURE 31 COST PER KWH OF MAJOR RAW MATERIALS USED IN EV BATTERIES

        FIGURE 32 COST BREAKDOWN OF CELL BY MATERIALS/COMPONENTS

        FIGURE 33 TOTAL COST OF LITHIUM-ION BATTERY CELL

    5.6 SUPPLY CHAIN ANALYSIS

        FIGURE 34 EV BATTERY MARKET: SUPPLY CHAIN ANALYSIS

        FIGURE 35 LITHIUM-ION BATTERY MARKET: SUPPLY CHAIN ANALYSIS

        FIGURE 36 EV BATTERY MARKET: VALUE CHAIN ANALYSIS

    5.7 ECOSYSTEM

        TABLE 12 EV BATTERY MARKET: ECOSYSTEM

        TABLE 13 TOP EV WITH BATTERY SPECIFICATION

    5.8 TECHNOLOGY ANALYSIS

           5.8.1 INTRODUCTION

           5.8.2 IMPROVEMENT IN BATTERY COMPOSITION

           5.8.3 IMPROVEMENT IN BATTERY CHARGING RATE

                 FIGURE 37 CHARGING TIME FOR CARS, BY MODEL (IN HOURS)

           5.8.4 BATTERY DESIGN AND LOCATION IN EV

           5.8.5 BATTERY RELATED SERVICES

           5.8.6 BATTERY OPTIMIZATION

    5.9 PATENT ANALYSIS

        TABLE 14 IMPORTANT PATENT REGISTRATIONS RELATED TO EV BATTERY MARKET

    5.10 CASE STUDY

           5.10.1 TESLA CLAIMS TO REDUCE BATTERY COSTS BY INNOVATION

           5.10.2 INDIAN OIL CORPORATION LIMITED (IOCL) LAUNCHES BATTERY SWAPPING SERVICE

           5.10.3 CATL DEVELOPING NO NICKEL, NO COBALT EV BATTERY

           5.10.4 PANASONIC ANNOUNCES DEVELOPMENT OF SOLID-STATE BATTERY

    5.11 TRADE/SALES DATA

           5.11.1 CHINA

                  TABLE 15 ELECTRIC VEHICLE SALES (BEV AND PHEV) IN CHINA (UNITS)

           5.11.2 JAPAN

                  TABLE 16 ELECTRIC VEHICLE SALES (BEV AND PHEV) IN JAPAN (UNITS)

           5.11.3 SOUTH KOREA

                  TABLE 17 ELECTRIC VEHICLE SALES (BEV AND PHEV) IN SOUTH KOREA (UNITS)

           5.11.4 INDIA

                  TABLE 18 ELECTRIC VEHICLE SALES (BEV AND PHEV) IN INDIA (UNITS)

           5.11.5 US

                  TABLE 19 ELECTRIC VEHICLE SALES (BEV AND PHEV) IN US (UNITS)

           5.11.6 GERMANY

                  TABLE 20 ELECTRIC VEHICLE SALES (BEV AND PHEV) IN GERMANY (UNITS)

           5.11.7 UK

                  TABLE 21 ELECTRIC VEHICLE SALES (BEV AND PHEV) IN UK (UNITS)

           5.11.8 NORWAY

                  TABLE 22 ELECTRIC VEHICLE SALES (BEV AND PHEV) IN NORWAY (UNITS)

    5.12 REGULATORY OVERVIEW

         TABLE 23 REGULATIONS/VOLUNTARY PROCEDURES FOR EV BATTERY PERFORMANCE

         TABLE 24 REGULATIONS/VOLUNTARY PROCEDURES FOR EV BATTERY DURABILITY

         TABLE 25 REGULATIONS/VOLUNTARY PROCEDURES FOR EV BATTERY SAFETY

         TABLE 26 REGULATIONS/VOLUNTARY PROCEDURES FOR EV BATTERY RECYCLING

    5.13 EV BATTERY MARKET: COVID-19 IMPACT

           5.13.1 IMPACT ON RAW MATERIAL SUPPLY

           5.13.2 IMPACT ON BATTERY PRODUCTION

           5.13.3 IMPACT DUE TO SLOWDOWN OF EV DEMAND

 

6 EV BATTERY MARKET, BY BATTERY TYPE

    6.1 INTRODUCTION

        FIGURE 38 EV BATTERY MARKET, BY BATTERY TYPE, 2021 VS. 2025 (UNITS)

        TABLE 27 EV BATTERY MARKET, BY BATTERY TYPE, 2018–2025 (UNITS)

    6.2 OPERATIONAL DATA

        TABLE 28 ELECTRIC COMMERCIAL VEHICLE DATA, BY COMPANY, MODEL & BATTERY TYPE

        FIGURE 39 US: PLUG-IN SALES, BY MODEL

           6.2.1 RESEARCH METHODOLOGY

           6.2.2 ASSUMPTIONS

           6.2.3 KEY PRIMARY INSIGHTS

                 FIGURE 40 KEY PRIMARY INSIGHTS

    6.3 LITHIUM-ION

           6.3.1 HIGH ENERGY DENSITY AND LONG-LIFE CYCLE DRIVE THIS SEGMENT

                 FIGURE 41 COMPARATIVE EVALUATION OF ELECTRIC VEHICLES USING LITHIUM-ION BATTERY

                 TABLE 29 LITHIUM-ION BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

    6.4 LEAD-ACID

           6.4.1 DEVELOPMENT OF ADVANCED LEAD-ACID BATTERY WILL DRIVE THE MARKET IN FUTURE

    6.5 NICKEL-METAL HYDRIDE

           6.5.1 LONG LIFE CYCLE AND HIGH TOLERANCE OF NICKEL METAL HYDRIDE BATTERIES WILL DRIVE THEIR DEMAND

    6.6 SOLID-STATE

           6.6.1 HIGH ENERGY STORAGE CAPABILITY OF SOLID-STATE BATTERIES FUEL THEIR DRIVE DEMAND

                 TABLE 30 US TRANSIT AGENCIES USING BATTERY-POWERED ELECTRIC BUSES

                 TABLE 31 SOLID-STATE MARKET, BY REGION, 2018–2025 (UNITS)

    6.7 OTHERS

        TABLE 32 OTHERS: EV BATTERIES MARKET, BY REGION, 2018–2025 (UNITS)

 

7 EV BATTERY MARKET, BY LI-ION BATTERY COMPONENT (Page No. - 97)

    7.1 INTRODUCTION

        FIGURE 42 EV BATTERY MARKET, BY LI-ION BATTERY COMPONENT, 2021 VS. 2025

        TABLE 33 EV BATTERY MARKET, BY LI-ION BATTERY COMPONENT, 2018–2025 (USD MILLION)

    7.2 OPERATIONAL DATA

        TABLE 34 ELECTROLYTE SOLVENTS, BY TEMPERATURE & FLASHPOINT

        TABLE 35 MOST COMMONLY USED LITHIUM-ION BATTERIES AND THEIR SPECIFICATIONS

        FIGURE 43 LITHIUM-ION BATTERY WORKING PRINCIPLE

           7.2.1 RESEARCH METHODOLOGY

           7.2.2 ASSUMPTIONS

           7.2.3 KEY PRIMARY INSIGHTS

                 FIGURE 44 KEY PRIMARY INSIGHTS

    7.3 NEGATIVE ELECTRODE

           7.3.1 HIGH PRESENCE OF NEGATIVE ELECTRODE COMPANIES WILL DRIVE THE MARKET IN ASIA PACIFIC

                 TABLE 36 NEGATIVE ELECTRODE IN EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

    7.4 POSITIVE ELECTRODE

           7.4.1 DEMAND FOR HIGH PERFORMANCE AND LONG-LIFE CYCLE CELLS WILL DRIVE THE MARKET

                 TABLE 37 POSITIVE ELECTRODE IN EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

    7.5 ELECTROLYTE

           7.5.1 SAFETY AND HIGH PERFORMANCE OF BATTERIES DRIVE THE MARKET FOR ELECTROLYTE

                 TABLE 38 ELECTROLYTE IN EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

    7.6 SEPARATOR

           7.6.1 NEED FOR SEPARATORS IN BATTERIES TO ATTAIN TEMPERATURE STABILITY WILL DRIVE THE MARKET

                 TABLE 39 SEPARATOR IN EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

 

8 EV BATTERY MARKET, BY PROPULSION (Page No. - 105)

    8.1 INTRODUCTION

        FIGURE 45 EV BATTERY MARKET, BY PROPULSION, 2021 VS. 2025

        TABLE 40 EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

    8.2 OPERATIONAL DATA

        TABLE 41 REGION-WISE EV SALES DATA, 2016-2019, (THOUSAND UNITS)

        TABLE 42 ELECTRIC COMMERCIAL VEHICLE DATA, BY COMPANY, MODEL & PROPULSION TYPE

           8.2.1 RESEARCH METHODOLOGY

           8.2.2 ASSUMPTIONS

           8.2.3 KEY PRIMARY INSIGHTS

                 FIGURE 46 KEY PRIMARY INSIGHTS

    8.3 BATTERY ELECTRIC VEHICLES (BEVS)

        TABLE 43 BEV: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

    8.4 HYBRID ELECTRIC VEHICLES (HEVS)

        TABLE 44 HEV: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

    8.5 PLUG-HYBRID ELECTRIC VEHICLES (PHEVS)

        TABLE 45 PHEV: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

    8.6 FUEL CELL ELECTRIC VEHICLES (FCEVS)

        TABLE 46 FCEV: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

 

9 EV BATTERY MARKET, BY VEHICLE TYPE

    9.1 INTRODUCTION

        FIGURE 47 EV BATTERY MARKET, BY VEHICLE TYPE, 2021 VS. 2025

        TABLE 47 EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

        TABLE 48 EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

    9.2 OPERATIONAL DATA

        TABLE 49 ELECTRIC VEHICLES, BY MODEL, VEHICLE TYPE & PROPULSION

           9.2.1 RESEARCH METHODOLOGY

           9.2.2 ASSUMPTIONS

           9.2.3 KEY PRIMARY INSIGHTS

                 FIGURE 48 KEY PRIMARY INSIGHTS

    9.3 PASSENGER CARS

           9.3.1 GROWING EMISSION NORMS FO PASSENGER CARS WILL BOOST THE DEMAND FOR EV BATTERIES

                 TABLE 50 EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2018–2025 (UNITS)

                 TABLE 51 EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2018–2025 (USD MILLION)

                 TABLE 52 EV BATTERY MARKET IN PASSENGER CARS, BY BATTERY CAPACITY, 2018–2025 (UNITS)

                 TABLE 53 <50 KWH: EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2018–2025 (UNITS)

                 TABLE 54 50-110 KWH: EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2018–2025 (UNITS)

                 TABLE 55 111-200 KWH: EV BATTERY MARKET IN PASSENGER CARS, BY REGION, 2018–2025 (UNITS)

    9.4 VANS/LIGHT TRUCKS

           9.4.1 INCREASING DEMAND FROM LOGISTICS SECTOR EXPECTED TO DRIVE THIS SEGMENT

                 TABLE 56 EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2025 (UNITS)

                 TABLE 57 EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2025 (USD MILLION)

                 TABLE 58 EV BATTERY MARKET IN VANS/LIGHT TRUCKS: BY BATTERY CAPACITY, 2018–2025 (UNITS)

                 TABLE 59 <50 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2025 (UNITS)

                 TABLE 60 50-110 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2025 (UNITS)

                 TABLE 61 111-200 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2025 (UNITS)

                 TABLE 62 201-300 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2025 (UNITS)

                 TABLE 63 >300 KWH: EV BATTERY MARKET IN VANS/LIGHT TRUCKS, BY REGION, 2018–2025 (UNITS)

    9.5 MEDIUM & HEAVY TRUCKS

           9.5.1 ADOPTION OF ELECTRIC MEDIUM AND HEAVY TRUCKS FOR SHORT AND LONG RANGES TO BOOST MARKET

                 TABLE 64 EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2018–2025 (UNITS)

                 TABLE 65 EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2018–2025 (USD MILLION)

                 TABLE 66 EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY BATTERY CAPACITY, 2018–2025 (UNITS)

                 TABLE 67 50-110 KWH: EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2018–2025 (UNITS)

                 TABLE 68 111-200 KWH: EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2018–2025 (UNITS)

                 TABLE 69 201-300 KWH: EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2018–2025 (UNITS)

                 TABLE 70 >300 KWH: EV BATTERY MARKET IN MEDIUM & HEAVY TRUCKS, BY REGION, 2018–2025 (UNITS)

    9.6 BUSES

           9.6.1 HIGH DEMAND FROM MAJOR OEMS IN ASIA PACIFIC WILL DRIVE THE MARKET SIGNIFICANTLY

                 TABLE 71 US TRANSIT AGENCIES PURCHASING BATTERY-POWERED ELECTRIC BUSES

                 TABLE 72 EV BATTERY MARKET IN BUSES, BY REGION, 2018–2025 (UNITS)

                 TABLE 73 EV BATTERY MARKET IN BUSES, BY REGION, 2018–2025 (USD MILLION)

                 TABLE 74 EV BATTERY MARKET IN BUSES, BY BATTERY CAPACITY, 2018–2025 (UNITS)

                 TABLE 75 111-200 KWH: EV BATTERY MARKET IN BUSES, BY REGION, 2018–2025 (UNITS)

                 TABLE 76 201-300 KWH: EV BATTERY MARKET IN BUSES, BY REGION, 2018–2025 (UNITS)

                 TABLE 77 >300 KWH: EV BATTERY MARKET IN BUSES, BY REGION, 2018–2025 (UNITS)

    9.7 OFF-HIGHWAY VEHICLES

           9.7.1 DEMAND OF HIGH POWER HEAVY-DUTY ELECTRIC TRUCKS IN AGRICULTURE AND CONSTRUCTION INDUSTRIES DRIVE THE MARKET

                 TABLE 78 EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2025 (UNITS)

                 TABLE 79 EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2025 (USD MILLION)

                 TABLE 80 EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY BATTERY CAPACITY, 2018–2025 (UNITS)

                 TABLE 81 <50 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2025 (UNITS)

                 TABLE 82 50-110 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2025 (UNITS)

                 TABLE 83 111-200 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2025 (UNITS)

                 TABLE 84 201-300 KWH: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

                 TABLE 85 >300 KWH: EV BATTERY MARKET IN OFF-HIGHWAY VEHICLES, BY REGION, 2018–2025 (UNITS)

 

10 EV BATTERY MARKET, BY BATTERY CAPACITY

     10.1 INTRODUCTION

          FIGURE 49 EV BATTERY MARKET, BY BATTERY CAPACITY, 2021 VS. 2025

          TABLE 86 EV BATTERY MARKET, BY BATTERY CAPACITY, 2018–2025 (UNITS)

          TABLE 87 EV BATTERY MARKET, BY BATTERY CAPACITY, 2018–2025 (USD MILLION)

     10.2 OPERATIONAL DATA

          TABLE 88 ELECTRIC COMMERCIAL VEHICLE DATA, BY MODEL & BATTERY CAPACITY

          FIGURE 50 TESLA’S NEW TABLESS BATTERY CELL '4680'

             10.2.1 RESEARCH METHODOLOGY

             10.2.2 ASSUMPTIONS

             10.2.3 KEY PRIMARY INSIGHTS

                    FIGURE 51 KEY PRIMARY INSIGHTS

     10.3 <50 KWH

             10.3.1 COST FACTOR WILL DRIVE THE MARKET FOR BATTERY WITH <50 KWH CAPACITY

                    TABLE 89 <50 KWH: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

                    TABLE 90 <50 KWH: EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

                    TABLE 91 <50 KWH: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

     10.4 50-110 KWH

             10.4.1 INCREASED DEMAND FOR ELECTRIC VANS/LIGHT TRUCKS WILL FUEL THE MARKET FOR BATTERIES WITH CAPACITY RANGING FROM 50-110 KWH

                    TABLE 92 50-110 KWH: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

                    TABLE 93 50-110 KWH: EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

                    TABLE 94 50-110 KWH: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

     10.5 111-200 KWH

             10.5.1 DEMAND FOR ELECTRIC COMMERCIAL TRUCKS & BUSES EXPECTED TO DRIVE THIS SEGMENT

                    TABLE 95 111-200 KWH: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

                    TABLE 96 111-200 KWH: EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

                    TABLE 97 111-200 KWH: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

     10.6 201-300 KWH

             10.6.1 BUSES AND TRUCKS WITH 201-300 KWH BATTERY CAPACITY DOMINATE CHINESE PUBLIC TRANSPORT FLEET

                    TABLE 98 201-300 KWH: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

                    TABLE 99 201-300 KWH: EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

                    TABLE 100 201-300 KWH: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

     10.7 >300 KWH

             10.7.1 INCREASED DEMAND FOR HEAVY COMMERCIAL AND OFF-HIGHWAY VEHICLES DRIVE THE MARKET FOR BATTERIES WITH >300 CAPACITY

                    TABLE 101 >300 KWH: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

                    TABLE 102 >300 KWH: EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

                    TABLE 103 >300 KWH: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

 

11 EV BATTERY MARKET, BY MATERIAL TYPE

     11.1 INTRODUCTION

          FIGURE 52 EV BATTERY MARKET, BY MATERIAL TYPE, 2021 VS. 2025

          TABLE 104 EV BATTERY MARKET, BY MATERIAL TYPE, 2018–2025 (USD MILLION)

     11.2 OPERATIONAL DATA

          TABLE 105 TYPES OF LITHIUM-ION BATTERY CHEMISTRIES

          FIGURE 53 ELECTRIC VEHICLE PACTS – JOINT VENTURES BETWEEN AUTOMAKERS AND LI-ION BATTERY MAKERS

             11.2.1 RESEARCH METHODOLOGY

             11.2.2 ASSUMPTIONS

             11.2.3 KEY PRIMARY INSIGHTS

                    FIGURE 54 KEY PRIMARY INSIGHTS

     11.3 COBALT

             11.3.1 RESISTANCE TOWARDS HIGH TEMPERATURE WILL DRIVE THE DEMAND FOR COBALT

                    FIGURE 55 COBALT DEPLOYMENT IN ELECTRIC VEHICLES, BY REGION

                    TABLE 106 COBALT IN EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

     11.4 LITHIUM

             11.4.1 HIGHER ENERGY DENSITY OF LITHIUM IS EXPECTED TO FUEL ITS DEMAND

                    FIGURE 56 LITHIUM DEPLOYMENT IN EVS, BY REGION

                    TABLE 107 LITHIUM IN EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

     11.5 NATURAL GRAPHITE

             11.5.1 DEMAND FOR NATURAL GRAPHITE IN HEVS AND PHEVS IS EXPECTED TO BOOST ITS MARKET

                    FIGURE 57 NATURAL GRAPHITE RESERVES

                    TABLE 108 NATURAL GRAPHITE IN EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

     11.6 MANGANESE

             11.6.1 ADVANCEMENT IN BATTERY TECHNOLOGY WILL DRIVE THE MARKET

                    FIGURE 58 MANGANESE RESERVES

                    TABLE 109 MANGANESE IN EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

 

12 EV BATTERY MARKET, BY METHOD

     12.1 INTRODUCTION

          FIGURE 59 EV BATTERY MARKET, BY METHOD, 2021 VS. 2025

          TABLE 110 EV BATTERY MARKET, BY METHOD, 2018–2025 (UNITS)

     12.2 OPERATIONAL DATA

          TABLE 111 DIFFERENT BATTERY ASSEMBLY METHODS

             12.2.1 ASSUMPTIONS

             12.2.2 RESEARCH METHODOLOGY

             12.2.3 KEY PRIMARY INSIGHTS

                    FIGURE 60 KEY PRIMARY INSIGHTS

     12.3 WIRE BONDING

          TABLE 112 WIRE BONDING: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

     12.4 LASER BONDING

          TABLE 113 LASER BONDING: EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

 

13 EV BATTERY MARKET, BY BATTERY FORM

     13.1 INTRODUCTION

          FIGURE 61 EV BATTERY MARKET, BY BATTERY FORM, 2021 VS. 2025

          TABLE 114 EV BATTERY MARKET, BY BATTERY FORM, 2018–2025 (UNITS)

     13.2 OPERATIONAL DATA

          TABLE 115 EV BATTERY CELL CHARACTERISTICS

          FIGURE 62 BATTERY FORMS

             13.2.1 ASSUMPTIONS

             13.2.2 RESEARCH METHODOLOGY

             13.2.3 KEY PRIMARY INSIGHTS

                    FIGURE 63 KEY PRIMARY INSIGHTS

     13.3 PRISMATIC

          TABLE 116 PRISMATIC EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

     13.4 POUCH

          TABLE 117 POUCH EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

     13.5 CYLINDRICAL

          FIGURE 64 CROSS SECTION OF A LITHIUM-ION CYLINDRICAL CELL

          TABLE 118 CYLINDRICAL EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

 

14 EV BATTERY MARKET, BY REGION

     14.1 INTRODUCTION

          FIGURE 65 EV BATTERY MARKET, BY REGION, 2021 VS. 2025

          TABLE 119 EV BATTERY MARKET, BY REGION, 2018–2025 (UNITS)

          TABLE 120 EV BATTERY MARKET, BY REGION, 2018–2025 (USD MILLION)

     14.2 ASIA PACIFIC

          FIGURE 66 ASIA PACIFIC: EV BATTERY MARKET SNAPSHOT

          TABLE 121 ASIA PACIFIC: EV BATTERY MARKET, BY COUNTRY, 2018–2025 (UNITS)

          TABLE 122 ASIA PACIFIC: EV BATTERY MARKET, BY COUNTRY, 2018–2025 (USD MILLION)

             14.2.1 CHINA

                        14.2.1.1 Presence of global leaders drive the market in China

                                 TABLE 123 CHINA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

                                 TABLE 124 CHINA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

                                 TABLE 125 CHINA: EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

             14.2.2 JAPAN

                        14.2.2.1 Electrification of commercial vehicles expected to drive the market

                                 TABLE 126 JAPAN: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

                                 TABLE 127 JAPAN: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

                                 TABLE 128 JAPAN: EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

             14.2.3 INDIA

                        14.2.3.1 Government subsidies to electric commercial vehicles will drive the market

                                 TABLE 129 INDIA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

                                 TABLE 130 INDIA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

                                 TABLE 131 INDIA: EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

             14.2.4 SOUTH KOREA

                        14.2.4.1 Increasing focus on electrifying public transport will boost the market

                                 TABLE 132 SOUTH KOREA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

                                 TABLE 133 SOUTH KOREA: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

                                 TABLE 134 SOUTH KOREA: EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

             14.2.5 THAILAND

                    TABLE 135 THAILAND: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

                    TABLE 136 THAILAND: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

                    TABLE 137 THAILAND: EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

     14.3 EUROPE

          FIGURE 67 EUROPE: EV BATTERY MARKET SNAPSHOT

          TABLE 138 EUROPE: EV BATTERY MARKET, BY COUNTRY, 2018–2025 (UNITS)

          TABLE 139 EUROPE: EV BATTERY MARKET, BY COUNTRY, 2018–2025 (USD MILLION)

          FIGURE 68 NEW, EXISTING AND EXPANSION PLANS FOR BATTERY PLANTS IN EUROPE

             14.3.1 FRANCE

                        14.3.1.1 Rise in e-logistics transport to drive the market

                                 TABLE 140 FRANCE: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

                                 TABLE 141 FRANCE: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

                                 TABLE 142 FRANCE: EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

             14.3.2 GERMANY

                        14.3.2.1 Presence of leading companies expected to drive the market

                                 TABLE 143 GERMANY: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

                                 TABLE 144 GERMANY: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

                                 TABLE 145 GERMANY: EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

             14.3.3 SPAIN

                        14.3.3.1 Growing commercial vehicle production projected to drive the market

                                 TABLE 146 SPAIN: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

                                 TABLE 147 SPAIN: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

                                 TABLE 148 SPAIN: EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

             14.3.4 ITALY

                        14.3.4.1 Growing advancement in EVs to drive the market

                                 TABLE 149 ITALY: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

                                 TABLE 150 ITALY: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

                                 TABLE 151 ITALY: EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

             14.3.5 UK

                        14.3.5.1 Increased demand for electric public fleets expected to drive the market

                                 TABLE 152 UK: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

                                 TABLE 153 UK: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

                                 TABLE 154 UK: EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

             14.3.6 DENMARK

                        14.3.6.1 Favorable regulations will drive the market

                                 TABLE 155 DENMARK: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (UNITS)

                                 TABLE 156 DENMARK: EV BATTERY MARKET, BY VEHICLE TYPE, 2018–2025 (USD MILLION)

                                 TABLE 157 DENMARK: EV BATTERY MARKET, BY PROPULSION, 2018–2025 (UNITS)

             14.3.7 NORWAY

                        14.3.7.1 Replacement of conventional vehicles with advanced EVs is expected to drive the market

                           

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