Electric Vehicle Battery Market by Battery Type (Lithium-ion, Lead Acid, Nickel Metal Hydride, Others), by Vehicle Type (Battery Electric Vehicles, Plug-In Hybrid Electric Vehicles, Hybrid Electric Vehicles), by By Geography (North America), by Europe (U.K., France, Germany, Rest of the Europe), by Asia Pacific (China, India, Rest of APAC) Forecast 2024-2032
The Electric Vehicle Battery Market size was valued at USD 37.91 USD Billion in 2023 and is projected to reach USD 162.48 USD Billion by 2032, exhibiting a CAGR of 23.11 % during the forecast period. An Electric Vehicle or EV battery is a rechargeable energy storage system which provides the electric energy required by an electric vehicle. It stands as a central point of EVs since it is responsible for the transformation of chemical energy stored into electrical energy to power the vehicle. There are mainly two types: There are two main types of batteries in the context of this report; Lithium-ion (Li-ion) and solid-state batteries. Li-ion batteries are the most commonly used because of their high energy/power density, low mean weight, and competitive cost. Even more promising technologies at an earlier stage of commercialization are presented by solid-state batteries. They are fast charging enabled, long-lasting batteries, and environmentally friendly compared to the traditional use of internal combustion machines. It can be used in many industries such as automotive, aerospace and energy storing industries. They help minimize greenhouse gas emissions, prevent air pollution, and demand for fossil-based energy hence aiding in sustainability and conservation.
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The market report includes:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 23.11% from 2018-2032 |
Segmentation |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 23.11% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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