LEV Battery Market: By LEV Type (E-Bike & E-Scooters, E-Three Wheelers, E-Rickshaws), By Battery Type (Li-ion Battery, Lead Acid Battery, Nickel Cadmium [NiCd], Nickel Metal Hydride Batteries), By Propulsion type (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV), By Application (Commercial Vehicle and Passenger Vehicle), and Geography     

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LEV Battery Market size was valued at USD 132.897.7 million in 2023 and is poised to grow at a CAGR of 14.9% during 2024-2030. Key factors influencing the growth of LEV are government policies, EV adoption rate, and battery technology and production. Asia Pacific is the dominant & fastest-growing region. Rapid electrification is one of the ongoing trends. Many governments offer incentives, subsidies, and tax breaks for purchasing EVs and manufacturing LEV batteries. This financial support accelerates market growth. Growing demand for electric vehicles (EVs) with stringent emission regulations and rising fuel costs are driving consumer preference towards EVs, which in turn increases demand for LEV (Light Electric Vehicle) batteries. Continuous research and development with technological advancements lead to more efficient, affordable, and longer-lasting LEV batteries, making EVs a more attractive option. Growing public awareness about climate change pushes consumers and governments towards sustainable transportation solutions, benefitting the LEV battery market. However, challenges hinder the market growth of high battery costs, currently, LEV batteries are a significant cost factor in EVs. This can be a barrier to entry for some consumers. Limited range and charging infrastructure, range anxiety (fear of running out of power) and lack of widespread charging infrastructure can deter potential EV buyers. The availability and price of critical battery materials like lithium and cobalt can impact production costs and market stability. Battery fires and safety issues can create negative perceptions and hinder market growth.

LEV Battery Market Recent Key Developments:
  • In May 2022, the joint venture of Stellantis N.V. and Samsung SDI announced the construction of an electric-vehicle lithium-ion battery manufacturing facility in Kokomo, Indiana, United States, and is going to invest over USD 2.5 billion in the manufacturing plant.

Lev Battery Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

14.9%

Largest Market

North America

Fastest Growing Market

Asia Pacific
Lev Battery Market Dynamics

Research & development of new battery technologies into solid-state batteries and other new technologies promises faster charging times, longer range, and improved safety, boosting the market. Investments in building a robust and convenient charging network will alleviate range anxiety and encourage EV adoption. The circular economy approach in the industry is moving towards a closed-loop system where used batteries are recycled and reused, minimizing environmental impact, and repurposing used LEV batteries for stationary energy storage or in less demanding applications to create new revenue streams. Focus on sustainability for the development of environmentally friendly battery production processes and recycling methods will enhance the market's appeal. Standardized battery formats will streamline production, reduce costs, and facilitate easier swapping and servicing. Manufacturers are striving to increase battery energy density to achieve longer range and smaller battery packs, and are integrating different stages of the battery supply chain to ensure raw material availability and control costs.

Lev Battery Market Segmentation

By LEV Type
  • E-Bike & E-Scooters
  • E-Three Wheelers
  • E-Rickshaws
By Battery Type
  • Li-ion Battery
  • Lead Acid Battery
  • Nickel Cadmium [NiCd]
  • Nickel Metal Hydride Batteries
By poprulasion
  • Battery Electric Vehicle (BEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)
  • Hybrid Electric Vehicle (HEV)
By Application
  • Commercial Vehicle
  • Passenger Vehicle
By Geography
  • North America
  • USA
  • Canada
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA

 

Frequently Asked Questions

The LEV battery market was valued at USD 132.897.7 million in 2023 and is projected to grow at a CAGR of 14.9%.

• Government Policies • Ev Adoption Rate • Battery Technology and Production

• High Battery Costs • Safety Concerns • Raw Material Availability and Price Fluctuations • Limited Range and Charging Infrastructure

Kingbo Power Technology Co, Vestel, Zhangzhou Aucopo Energy Technology Co., LTD, Sunbright Power Co., Ltd., Phylion, OptimumNano Energy Co., Ltd, SAMSUNG SDI CO., LTD., LG Chem, GenZe (Mahindra), and Okinawa

Asia-pacific is the dominant in the LEV battery market.

Key Features of the Reports

  • The Lev battery market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenarios.

 

1.Executive Summary
2.Global Lev Battery Market Introduction 
2.1.Global Lev Battery Market  - Taxonomy
2.2.Global Lev Battery Market  - Definitions
2.2.1. LEV Type
2.2.2.Battery Type
2.2.3.poprulasion
2.2.4.Application
2.2.5.Region
3.Global Lev Battery 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 Lev Battery Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Lev Battery Market  By  LEV Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. E-Bike & E-Scooters
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (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. E-Three Wheelers
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (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. E-Rickshaws
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (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 Lev Battery Market  By Battery Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Li-ion Battery
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (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. Lead Acid Battery
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (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. Nickel Cadmium [NiCd]
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (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 
6.4. Nickel Metal Hydride Batteries
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
7.Global Lev Battery Market  By poprulasion, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Battery Electric Vehicle (BEV)
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (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. Plug-in Hybrid Electric Vehicle (PHEV)
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (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. Hybrid Electric Vehicle (HEV)
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (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 Lev Battery Market  By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. Commercial Vehicle
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (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. Passenger Vehicle
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (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 
9.Global Lev Battery Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. Asia Pacific (APAC)
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Middle East and Africa (MEA)
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. Latin America
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10.North America Lev Battery Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1.  LEV Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.E-Bike & E-Scooters
10.1.2.E-Three Wheelers
10.1.3.E-Rickshaws
10.2.  Battery Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Li-ion Battery
10.2.2.Lead Acid Battery
10.2.3.Nickel Cadmium [NiCd]
10.2.4.Nickel Metal Hydride Batteries
10.3.  poprulasion Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Battery Electric Vehicle (BEV)
10.3.2.Plug-in Hybrid Electric Vehicle (PHEV)
10.3.3.Hybrid Electric Vehicle (HEV)
10.4.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Commercial Vehicle
10.4.2.Passenger Vehicle
10.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11.Europe Lev Battery Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1.  LEV Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.E-Bike & E-Scooters
11.1.2.E-Three Wheelers
11.1.3.E-Rickshaws
11.2.  Battery Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Li-ion Battery
11.2.2.Lead Acid Battery
11.2.3.Nickel Cadmium [NiCd]
11.2.4.Nickel Metal Hydride Batteries
11.3.  poprulasion Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Battery Electric Vehicle (BEV)
11.3.2.Plug-in Hybrid Electric Vehicle (PHEV)
11.3.3.Hybrid Electric Vehicle (HEV)
11.4.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.Commercial Vehicle
11.4.2.Passenger Vehicle
11.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
12.Asia Pacific (APAC) Lev Battery Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1.  LEV Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.E-Bike & E-Scooters
12.1.2.E-Three Wheelers
12.1.3.E-Rickshaws
12.2.  Battery Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Li-ion Battery
12.2.2.Lead Acid Battery
12.2.3.Nickel Cadmium [NiCd]
12.2.4.Nickel Metal Hydride Batteries
12.3.  poprulasion Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Battery Electric Vehicle (BEV)
12.3.2.Plug-in Hybrid Electric Vehicle (PHEV)
12.3.3.Hybrid Electric Vehicle (HEV)
12.4.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.Commercial Vehicle
12.4.2.Passenger Vehicle
12.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13.Middle East and Africa (MEA) Lev Battery Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1.  LEV Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.E-Bike & E-Scooters
13.1.2.E-Three Wheelers
13.1.3.E-Rickshaws
13.2.  Battery Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Li-ion Battery
13.2.2.Lead Acid Battery
13.2.3.Nickel Cadmium [NiCd]
13.2.4.Nickel Metal Hydride Batteries
13.3.  poprulasion Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Battery Electric Vehicle (BEV)
13.3.2.Plug-in Hybrid Electric Vehicle (PHEV)
13.3.3.Hybrid Electric Vehicle (HEV)
13.4.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Commercial Vehicle
13.4.2.Passenger Vehicle
13.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14.Latin America Lev Battery Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
14.1.  LEV Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.E-Bike & E-Scooters
14.1.2.E-Three Wheelers
14.1.3.E-Rickshaws
14.2.  Battery Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.Li-ion Battery
14.2.2.Lead Acid Battery
14.2.3.Nickel Cadmium [NiCd]
14.2.4.Nickel Metal Hydride Batteries
14.3.  poprulasion Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.Battery Electric Vehicle (BEV)
14.3.2.Plug-in Hybrid Electric Vehicle (PHEV)
14.3.3.Hybrid Electric Vehicle (HEV)
14.4.  Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.Commercial Vehicle
14.4.2.Passenger Vehicle
14.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.Kingbo Power Technology Co
15.2.2. Vestel
15.2.3.ZHANGZHOU AUCOPO ENERGY TECHNOLOGY CO.,LTD
15.2.4.Sunbright Power Co.,Ltd.
15.2.5.Phylion
15.2.6.OptimumNano Energy Co.,Ltd
15.2.7.SAMSUNG SDI CO.,LTD.
15.2.8.LG Chem
15.2.9.GenZe ( Mahindra)
15.2.10.Okinawa
16. Research Methodology 
17. Appendix and Abbreviations 
  • Kingbo Power Technology Co
  •  Vestel
  • ZHANGZHOU AUCOPO ENERGY TECHNOLOGY CO.,LTD
  • Sunbright Power Co.,Ltd.
  • Phylion
  • OptimumNano Energy Co.,Ltd
  • SAMSUNG SDI CO.,LTD.
  • LG Chem
  • GenZe ( Mahindra)
  • Okinawa

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