USD 50.12 billion
Europe EV Battery Market Size, Share, Growth Analysis, By Battery Type(Lithium-Ion, Lead-Acid, Sodium-Ion, others), By Vehicle Type(Passenger Vehicles, Commercial Vehicles), By Propulsion(Battery Electric Vehicle, Plug-In Hybrid Electric Vehicle), By Li-ion battery type(positive electrode, negative electrode, electrolyte, and separators), By method(wire bonding and laser bonding), By battery capacity(<50kWh, 50-110kWh, 111-200kWh, 201-300kWh), By material type(lithium, cobalt, manganese, and natural graphite), By battery form(prismatic, cylindrical, and pouch), By Region - Industry Forecast 2025-2032
Report ID:
SQMIR25A2286 |
Region:
Regional |
Published Date: February, 2024
Pages:
231
|Tables:
226
|Figures:
81
Europe EV Battery Market Insights
Europe EV Battery Market size was valued at USD 59.6 Billion in 2023 and is poised to grow from USD 70.86 Billion in 2024 to USD 268.18 Billion by 2032, growing at a CAGR of 18.9% during the forecast period (2025-2032).
Continuously rising emphasis of global automobile manufacturers such as General Motors, Ford Motors, and Nissan Motor Co. Ltd., on the rolling out of electric vehicles around the globe is key factor expected to drive growth of the Europe EV battery market during the forecast period. Moreover, increasing government policies on the installation of charging stations through direct investment or public-private partnership, especially in urban areas is also likely to boost the demand for EV batteries at a high rate over the coming years.
For instance, the European Union announced to support its battery sector by establishing a European battery alliance for the manufacturing, charging infrastructure, and electric-vehicle intake. And, in January 2021, European commission announced that they will spend USD 3.5 billion for subsidizing Tesla, BMW, and other companies for higher production of batteries in European region.
Furthermore, a continuous roll-out of various integrated charging stations and establishment of green power-generation capability would likely to influence market growth extensively in the coming years. Additionally, availability of advanced technologies and increasing number of innovations for ensuring powerful propulsion are highly encouraging automakers for pursuing these technologies in their electric vehicles, which is projected to have positive impact on the Europe EV battery market.
Europe EV Battery Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Lithium-Ion
Fastest Growth
Lithium-Ion
Growth Rate
18.9% CAGR
Europe EV Battery Market, 2021-2028 ($ Bn)
Country Share for Europe Region- 2021 (%)
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Europe EV Battery Market Segmental Analysis
Europe EV battery market is segmented on the basis of battery type, vehicle type, propulsion, Li-ion battery, method, battery capacity, material type, and battery form. By battery type, the Europe EV Battery Market is segmented into lithium-ion, lead-acid, sodium-ion, and others. By vehicle type, the Europe EV Battery Market is categorized into passenger vehicles and commercial vehicles. By propulsion, the Europe EV Battery Market is bifurcated into battery electric vehicle and plug-in hybrid electric vehicle. By Li-ion battery type, the Europe EV Battery Market is segmented into positive electrode, negative electrode, electrolyte, and separators. By method, the Europe EV Battery Market is segmented into wire bonding and laser bonding. By battery capacity, the Europe EV Battery Market is segmented into <50kWh, 50-110kWh, 111-200kWh, 201-300kWh, and >300kWh. By material type, the Europe EV Battery Market is segmented into lithium, cobalt, manganese, and natural graphite. By battery form, the market is segmented into prismatic, cylindrical, and pouch.
Europe EV Battery Market Analysis by Battery Type
By battery type, the lithium-ion segment accounted for the largest market share in 2021 and is set to retain its position over the forecast period owing to high usage of these batteries in various applications requiring lighter weights and better energy density. Lithium-ion batteries offers a higher energy density per weight and are widely utilizing in several automotive applications such as electric and hybrid automobiles.
Furthermore, lead-acid batteries segment projected to grow significantly throughout the forecast period due to growing acceptance of these batteries as an alternative for lithium-ion batteries. Lead-acid batteries are most economical types, which are highly preferred for large power applications where weight is not constraint.
Europe EV Battery Market Analysis by Vehicle Type
By vehicle type, the passenger vehicles held the largest market share in 2021 due to the growing number of government initiatives to promote adoption of electric passenger vehicles as a part of their efforts to reduce air pollution levels. In addition, increasing introduction to improved and highly developed electric passenger vehicles by several large companies to encourage the adoption of these vehicles to consumers are likely to propel the growth and influencing the market over the coming years. The government agencies are highly implementing quota systems and stringent fuel economy regulations, mainly in developing countries, are expected to drive the adoption of these type of vehicles in the region.
Europe EV Battery Market By Battery Type, 2021 (%)
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Europe EV Battery Market Regional Insights
Germany accounted for the largest market revenue share in Europe EV batteries market in 2021 and is projected to continue its dominance throughout the forecast period. This is simply attributed to the numerous gigafactories, which are planned to be installed during the forecast period. In addition, high adoption of e-mobility in the country coupled with the growing internet users are also propelling the market growth significantly.
Furthermore, France is projected to be the second fastest growing nation in European EV batteries market throughout the forecast period. An extensive rise in the automotive industry and increasing investments by various OEMs for the enhancement and development of EV batteries are likely to boost the market growth at a strong growth rate.
Europe EV Battery Market By Geography, 2021-2028
- Largest
- Fastest
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Europe EV Battery Market Dynamics
Europe EV Battery Market Drivers
- Growing Technological Advancements in Europe to Fuel Market Growth
Decreasing various types of battery prices owing to the rise in production capacities and higher technological advancements in the European region is key factor projected to drive growth of the market over the forecast period. The price of lithium-ion batteries has decreased by around 89% from USD 1100/KWH in 2010 to USD 137/KWH in 2020, and the prices for these batteries were 13% lower than 2019. Additionally, several players in the market are highly increasing their focus on reducing dependence for EV batteries on Asian countries, which is further anticipated to fuel growth of the market during the forecast period.
Europe EV Battery Market Restraint
- Limited Supply of Raw Materials to Hamper Market Growth
Lack of charging infrastructure and scarce supply of various materials essential to store and utilize capacity like graphite, nickel, manganese, and cobalt are likely to be the major factors hampering the growth and expansion of the market over the forecast period. Moreover, high installation cost of charging infrastructure is also restraining the market growth in the coming years.
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Europe EV Battery Market Competitive Landscape
The Europe EV battery market is moderately concentrated with the presence of large pool players operating in the region. Major players of the market are focusing on the implementation on various business developing strategies including new technology developments, innovations, collaborations, and partnerships for the expansion of their market reach and strengthen their market position ahead of its competitors.
Europe EV Battery Market Top Player’s Company Profiles
- Tesla
- LG Chem
- Samsung SDI
- CATL
- Northvolt
- Varta
- BYD Company
- Automotive Energy Supply Corporation (AESC)
- SK Innovation
- GS Yuasa
- Leclanché SA
- SAFT Groupe SA
- EnerSys
- BMZ GmbH
- Sonnen GmbH
- Narada Power Source Co., Ltd.
- Farasis Energy
- Microvast Inc.
- Skeleton Technologies
- Hydrogenious Technologies GmbH
Europe EV Battery Market Recent Developments
- In October 2022, BMW announced the addition of an EV battery assembly line and new cell varnishing lines to its Leipzig plant.
- In July 2021, Volkswagen announced its plans to manufacture batteries for the electric vehicles in Germany with Guoxuan. This step is taken to industrializing production of battery cell in the European region and to cater the growing demand for EV batteries from consumers.
Europe EV Battery Key Market Trends
- Growing advancement of battery chemistry for the improvement of EV performance coupled with the rising adoption of new batteries chemistries for electric vehicles are major factors propelling the growth and demand for the market. In addition, rising popularity of lithium-nickel-manganese-cobalt-aluminum oxide composition is expected to start over in the next three years. Due to various benefits including higher density and longer life cycle as compared to other materials. Therefore, the development of advanced and innovated battery chemistry is a major trend influencing the market growth.
Europe EV Battery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the Europe EV battery market is witnessing a strong growth during the forecast period owing to growing number of stringent emissions regulations and falling price of lithium-ion batteries. In addition, increased research & development activities and large-scale industrial manufacturing plants for lithium-ion battery cells are likely to foster the growth of the market rapidly over the coming years. However, increasing environmental impacts by extracting lithium and toxic waste from disposal of used batteries are some factors anticipated to hamper the growth and expansion of the European EV battery market over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 50.12 billion |
| Market size value in 2031 | USD 225.55 billion |
| Growth Rate | 18.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Europe EV Battery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Europe EV Battery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Europe EV Battery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Europe EV Battery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Europe EV Battery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Europe EV Battery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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