The global electric vehicle battery manufacturing market was valued at about $26.96 billion in 2018. Asia Pacific is the largest region in the electric vehicle batteries manufacturing market.
The electric vehicle (EV) batteries manufacturing market consists of sales of electric vehicle batteries. These batteries are used to power commercial electrical vehicles, passenger electrical vehicles, electric bikes, and scooters.
The global electric vehicle battery manufacturing market is expected to grow to $55.4 billion at a rate of about 19.7% through 2022. Increasing demand for electric vehicles is driving the market for electric vehicle batteries that are used for propulsion. Electric vehicles use one or more electric motors which are powered by electric batteries. These batteries can be recharged and their use does not emit harmful gases.
However, the rising prices of lithium used in electric vehicle batteries due to limited supplies is acting as a restraint on the electric vehicle batteries market.
Electric vehicle battery manufacturers are increasingly investing in the integration of IoT and artificial intelligence with electric vehicle batteries in order to accelerate the energy transition from fossil fuels. The internet of things (IoT) is a system of connected devices that can transfer data over a network without human interaction. IoT enabled batteries can help in cost savings through accurate monitoring and forecasting of energy consumption.
Major players in the market are Panasonic Corporation, BYD Company Ltd., Automotive Energy Supply Corporation, LG Chem Ltd, and GS Yuasa International Ltd.
BYD Co Ltd is a Chinese manufacturer of automobiles, battery-powered bicycles, buses, forklifts, solar panels, rechargeable batteries, trucks, etc. with its corporate headquarters in Shenzhen. It has two major subsidiaries, BYD Automobile and BYD Electronic.
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Few Points From List Of Tables Includes
Table 1: Global Historic Market Growth, 2014-2018, $ Billion
- Table 2: Global Forecast Market Growth, 2014-2022F, 2025F, 2030F, $ Billion
- Table 3: Global Electric Vehicle Battery Manufacturing Market, Segmentation By Vehicle Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
- Table 4: Global Electric Vehicle Battery Manufacturing Market, Segmentation By Battery Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
- Table 5: Global Electric Vehicle Battery Manufacturing Market, Segmentation By Vehicle Technology, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
- Table 6: Global Electric Vehicle Battery Manufacturing Market, Segmentation By End Users, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
- Table 7: Global Electric Vehicle Battery Manufacturing Market, Split By Region, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
- Table 8: Global Electric Vehicle Battery Manufacturing Market, Split By Country, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
- Table 9: Asia-Pacific, Electric Vehicle Battery Manufacturing Market, Segmentation By Vehicle Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
- Table 10: Asia-Pacific, Electric Vehicle Battery Manufacturing Market, Segmentation By Battery Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
- Table 11: China, Electric Vehicle Battery Manufacturing Market, Segmentation By Vehicle Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
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