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Battery Market for Electric Car: Introduction

  • Rising popularity of electric vehicles due to growing environmental awareness is boosting the demand for batteries for electric cars
  • All electric cars (EVs) have an electric motor instead of an internal combustion engine, which propels the vehicle. This motor is driven by a large traction battery pack. Moreover, in an electric drive vehicle, the auxiliary batteries are provided to power the vehicle accessories such as AC, computer controls, and audio systems.

Key Drivers of Battery Market for Electric Car

  • The new generation of consumers of vehicles is highly aware of the ill-effects of emissions from conventional I.C engine vehicles and also the soaring prices of fossil fuels. These factors have transformed the customer demands and preference for transportation, leading to the emergence of cleaner and economical electric vehicles. Moreover, stringent emission norms have forced numerous automakers to electrify their vehicle models at certain levels so that the fuel consumption and tail pipe emissions reduce significantly. This has led automakers to launch newer BEV and PHEV models. Thus, rising awareness about transport emissions has boosted the global battery market for electric car.
  • Governments of various countries are increasingly promoting the adoption of electric vehicles by providing monetary or non-monetary benefits to customers, making vehicle emission norms more stringent, and devising promotional policies. Countries such as the U.S., Germany, U.K, France, India, China, and many others have announced subsidies for electric cars. These monetary benefits, in terms of subsidies and tax relaxations, are driving the sale of electric vehicles and consequently, propelling the battery market for electric cars across globe.

Challenges in Battery Market for Electric Car

  • Underdeveloped charging infrastructure for electric cars is restraining the adoption of electric vehicles. Additionally, the electric vehicle battery technology has not attained maturity and hence, there are problems such as overheating, limited power storage, and weight issues. These factors are hampering the battery market for electric cars.

Impact of COVID-19 pandemic on Battery Market for Electric Car

  • The COVID-19 pandemic disrupted automotive supply chains, thus creating a shortage of raw materials and components. Several nations across the globe are presently facing the second wave of this pandemic, which is further hampering the automotive industry and the overall global economy. This disruption has negatively impacted the global battery market for electric car.

Asia Pacific to Hold Significant Share of Battery Market for Electric Car

  • Governments in Asia Pacific have strengthened their regulations related to emissions and are promoting electric cars. Governments are also investing in the development of guidelines and infrastructure for testing of electric vehicles. China is a rapidly emerging market for electric vehicles, overtaking the U.S. and major countries in Europe. The Government of China is developing a long-term plan to abandon vehicles powered by fossil fuels. These factors are driving the share held by Asia Pacific in the global battery market for electric car.

Key Players Operating in Battery Market for Electric Car

The global battery market for electric car is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the battery market for electric car are:

  • A123 Systems LLC
  • BYD Co., Ltd.
  • Chaowel Power Holdings Limited
  • Crown Battery
  • East Penn Manufacturing Company
  • EnerSys
  • Exide Industries Limited
  • Fengfan Co., Ltd.
  • Furukawa Electric Co. Ltd.
  • GS Yuasa Corporation
  • Haldex Incorporated
  • Hitachi, Ltd.
  • International Plc
  • Leoch International Tech
  • LG Chem. Manufacturing Company
  • MITSUBISHI HEAVY INDUSTRIES, LTD.
  • Panasonic Corporation
  • Saft
  • SAMSUNG SDI CO., LTD.
  • ZF Friedrichshafen AG

Global Battery Market for Electric Car: Research Scope

Global Battery Market for Electric Car, by Application

  • Traction Battery
  • Auxiliary Battery

Global Battery Market for Electric Car, by Chemical Composition

  • Lithium Ion (Li-ion)
  • Nickel–Metal Hydride (Ni-MH)
  • Nickel–Cadmium (Ni-Cd)
  • Small Sealed Lead Acid (SSLA)

Global Battery Market for Electric Car, by Battery Capacity

  • 12V
  • 14V
  • 24V
  • 48V & above

Global Battery Market for Electric Car, by Car Type

  • Hatchback
  • Sedan
  • Utility Vehicles

Global Battery Market for Electric Car, by Propulsion

  • Battery Electric Car
  • Plug-in Hybrid Electric Car
  • Hybrid Electric Car

Global Battery Market for Electric Car, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Nordic Region
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Electric Car Battery Market

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