Electric Vehicle Battery Market: By Battery Type, By Propulsion Type, By Vehicle Type and Region Forecast 2019-2030
Electric Vehicle Battery Market size was valued at US$ 25 billion in the year 2023 and is anticipated to grow at US$ 86 by 2030 and witness a CAGR of 17.5% from 2024 to 20230. The market has been divided into lead-acid, lithium-ion, nickel-metal hydride, sodium-ion, and other battery types. In 2018, the lithium-ion sector had the biggest market share. Lithium-ion batteries are employed in situations where lightweight and great energy density are required. Because of their high energy density per weight, these batteries are frequently employed in automotive applications, including electric and hybrid vehicles. The availability of adequate EV charging infrastructure is critical for the adoption of e-mobility and speaks well for lithium-ion battery sales growth. Lead-acid batteries are one of the most cost-effective battery types for higher-power applications where weight is not an issue.
Furthermore, considering the high expenses of mining and processing lithium, as well as the limited supply of lithium, lead-acid batteries may be a better option than lithium-ion batteries. Lead-acid batteries can also be recycled and repurposed by being melted. Battery makers are focusing on the development and commercialization of sodium-ion batteries in order to find a replacement for lithium-ion batteries. The costs of materials for sodium-ion batteries are often lower than those for lithium-ion batteries. As a result, as part of their attempts to cut total costs while enhancing vehicle range and energy density, vendors are focused on sodium-ion batteries.
The market has been divided into two categories based on propulsion: battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) (PHEV). In 2020, the BEV segment led the market, and it is expected to continue to do so over the forecast period. The PHEV segment, on the other hand, is expected to grow at the fastest rate from 2021 to 2027. Due to fuel economy restrictions, the BEV market is projected to acquire a lot of traction in emerging economies.
Study Period
2024-2030Base Year
2023CAGR
17.5%Largest Market
Asia PacificFastest Growing Market
Europe
Electric vehicle batteries undergo different tests before bringing into the market for use. Electric vehicle batteries contain different inflammable material like plastics, lithium and manganese. There are several crucial factors play an important role to boost the electric vehicle battery market growth such as growing demand for electric vehicles, launching of new plug-in EV models, supporting government policies and improvement in battery technology. Governments are encouraging for the adoption of vehicles making use of substitute sources of fuel. Electric vehicles are zero-emission vehicles and are obtaining preference due to their clean public transport around countries. Electric vehicle battery is a secondary battery used as a secondary power medium in automobiles. It makes use of chemical energy that is stored in secondary battery packs for power and therefore cannot need any combustion engine for propulsion.
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market CAGR |
17.5% |
By Battery Type |
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By Vehicle Type |
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By Propulsion Type |
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By Region |
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Electric vehicle battery market size was valued at US$ 25 billion in 2023 and is set to reach US$ 86 billion by 2030, at a CAGR of 17.5% from 2024-2030
Toyota, Tata Motors, Mercedes-Benz, Hyundai
North America is the fastest-growing region in the market
1. Executive Summary |
2. Global Point Of Care Ultrasound Systems Market Introduction |
2.1.Global Point Of Care Ultrasound Systems Market - Taxonomy |
2.2.Global Point Of Care Ultrasound Systems Market - Definitions |
2.2.1.Battery Type |
2.2.2.Vehicle Type |
2.2.3.Propulsion Type |
2.2.4.Region |
3. Global Point Of Care Ultrasound Systems Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Product Landscape |
3.6. New Product Launches |
3.7. Impact of COVID 19 on Market |
4. Global Point Of Care Ultrasound Systems Market Analysis, 2019 - 2023 and Forecast 2019 - 2023 |
4.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5.Global Point Of Care Ultrasound Systems Market By Battery Type, 2019 - 2023 and Forecast 2019 - 2023 (Sales Value USD Million) |
5.1. Nickel Metal Hydride Battery |
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Lead Acid Battery |
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Lithium ion Battery |
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
6.Global Point Of Care Ultrasound Systems Market By Vehicle Type, 2019 - 2023 and Forecast 2019 - 2023 (Sales Value USD Million) |
6.1. Passenger Car |
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Commercial Vehicle |
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
6.3. Two-Wheeler |
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
7.Global Point Of Care Ultrasound Systems Market By Propulsion Type, 2019 - 2023 and Forecast 2019 - 2023 (Sales Value USD Million) |
7.1. Hybrid Electric Vehicle |
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Battery Electric Vehicle |
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Plug-in Hybrid Electric Vehicle |
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
8.Global Point Of Care Ultrasound Systems Market By Region, 2019 - 2023 and Forecast 2019 - 2023 (Sales Value USD Million) |
8.1. North America |
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Europe |
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
8.3. Asia Pacific (APAC) |
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.3.3. Market Opportunity Analysis |
8.4. Middle East and Africa (MEA) |
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.4.3. Market Opportunity Analysis |
8.5. Latin America |
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2019 - 2023, (Sales Value USD Million) |
8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.5.3. Market Opportunity Analysis |
9.North America Point Of Care Ultrasound Systems Market ,2019 - 2023 and Forecast 2019 - 2023 (Sales Value USD Million) |
9.1. Battery Type Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.1.1.Nickel Metal Hydride Battery |
9.1.2.Lead Acid Battery |
9.1.3.Lithium ion Battery |
9.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.2.1.Passenger Car |
9.2.2.Commercial Vehicle |
9.2.3.Two-Wheeler |
9.3. Propulsion Type Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.3.1.Hybrid Electric Vehicle |
9.3.2.Battery Electric Vehicle |
9.3.3.Plug-in Hybrid Electric Vehicle |
9.4. Country Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
9.4.1.United States of America (USA) |
9.4.2.Canada |
10.Europe Point Of Care Ultrasound Systems Market ,2019 - 2023 and Forecast 2019 - 2023 (Sales Value USD Million) |
10.1. Battery Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.1.1.Nickel Metal Hydride Battery |
10.1.2.Lead Acid Battery |
10.1.3.Lithium ion Battery |
10.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.2.1.Passenger Car |
10.2.2.Commercial Vehicle |
10.2.3.Two-Wheeler |
10.3. Propulsion Type Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.3.1.Hybrid Electric Vehicle |
10.3.2.Battery Electric Vehicle |
10.3.3.Plug-in Hybrid Electric Vehicle |
10.4. Country Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
10.4.1.Germany |
10.4.2.France |
10.4.3.Italy |
10.4.4.United Kingdom (UK) |
10.4.5.Spain |
10.4.6.Rest of EU |
11.Asia Pacific (APAC) Point Of Care Ultrasound Systems Market ,2019 - 2023 and Forecast 2019 - 2023 (Sales Value USD Million) |
11.1. Battery Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.1.1.Nickel Metal Hydride Battery |
11.1.2.Lead Acid Battery |
11.1.3.Lithium ion Battery |
11.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.2.1.Passenger Car |
11.2.2.Commercial Vehicle |
11.2.3.Two-Wheeler |
11.3. Propulsion Type Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.3.1.Hybrid Electric Vehicle |
11.3.2.Battery Electric Vehicle |
11.3.3.Plug-in Hybrid Electric Vehicle |
11.4. Country Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
11.4.1.China |
11.4.2.India |
11.4.3.Australia and New Zealand (ANZ) |
11.4.4.Japan |
11.4.5.Rest of APAC |
12.Middle East and Africa (MEA) Point Of Care Ultrasound Systems Market ,2019 - 2023 and Forecast 2019 - 2023 (Sales Value USD Million) |
12.1. Battery Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.1.1.Nickel Metal Hydride Battery |
12.1.2.Lead Acid Battery |
12.1.3.Lithium ion Battery |
12.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.2.1.Passenger Car |
12.2.2.Commercial Vehicle |
12.2.3.Two-Wheeler |
12.3. Propulsion Type Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.3.1.Hybrid Electric Vehicle |
12.3.2.Battery Electric Vehicle |
12.3.3.Plug-in Hybrid Electric Vehicle |
12.4. Country Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
12.4.1.GCC Countries |
12.4.2.South Africa |
12.4.3.Rest of MEA |
13.Latin America Point Of Care Ultrasound Systems Market ,2019 - 2023 and Forecast 2019 - 2023 (Sales Value USD Million) |
13.1. Battery Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.1.1.Nickel Metal Hydride Battery |
13.1.2.Lead Acid Battery |
13.1.3.Lithium ion Battery |
13.2. Vehicle Type Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.2.1.Passenger Car |
13.2.2.Commercial Vehicle |
13.2.3.Two-Wheeler |
13.3. Propulsion Type Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.3.1.Hybrid Electric Vehicle |
13.3.2.Battery Electric Vehicle |
13.3.3.Plug-in Hybrid Electric Vehicle |
13.4. Country Analysis 2019 - 2023 and Forecast 2019 - 2023 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
13.4.1.Brazil |
13.4.2.Mexico |
13.4.3.Rest of LA |
14. Competition Landscape |
14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
14.2.1.Toyota |
14.2.2.Tata Motors |
14.2.3.Mercedes-Benz |
14.2.4.Hyundai |
15. Research Methodology |
16. Appendix and Abbreviations |
Key Market Players