Europe Electric Vehicle Battery Market Introduction and Overview
According to SPER Market Research, the Europe Electric Vehicle Battery Market is estimated to reach USD XX billion by 2033 with a CAGR of 7.5%.
The report includes an in-depth analysis of the Europe Electric Vehicle Battery Market, including market size and trends, product mix, distribution channels, and supplier analysis. An essential part of an electric vehicle (EV) is the battery, which powers the electric motor and allows the vehicle to move without the use of conventional internal combustion engines. Large lithium-ion batteries are used to store energy in electric vehicles, as opposed to conventional vehicles that run on gasoline or diesel. An anode, a cathode, and an electrolyte are found in each cell that makes up these batteries. As electrons flow through the electrolyte from the anode to the cathode during operation, electricity is produced and the vehicle is propelled forward. The effectiveness and volume of these batteries have a big impact on the electric vehicle's performance, appeal, and range.
- Nissan Motor Co. Ltd. declared in July 2021 that it would construct a battery factory close to its Sunderland, northeastern England, vehicle manufacturing facility. Envision AESC, a Chinese-owned business that currently supplies Nissan with batteries for its Sunderland assembly plant, plans to invest EUR 450 million in the new gigafactory in order to supply the site's electric vehicle production.
- The announcement was made in July 2021 by SK Innovation Co. of South Korea that the company would invest USD 792.7 million to construct its third electric vehicle battery manufacturing plant in the nation. The business is constructing a second, ten-gigawatt factory at Komarom, where it currently runs a 7.5-gigawatt facility.
Market Opportunities and Challenges
Opportunities: EV manufacturers are being drove to upgrade their batteries by the new and improved battery management systems and enhanced batteries of COVID-19. This provides end users with more options. the increasing trend of electric vehicle (EV) adoption as a means of preventing high fuel prices. People's financial situation is being negatively impacted by COVID-19, and gasoline prices are skyrocketing as a result of the ongoing conflict and international sanctions against some countries that produce oil. Increased EV adoption spurred industry innovations and the modernization of EV parts like motors and batteries. These are some of the main factors influencing the sales of batteries for electric vehicles.
Challenges: A number of challenges stand in the way of the electric vehicle (EV) battery market's development and broad acceptance in Europe. One significant obstacle is the high cost of manufacturing batteries for electric vehicles, which adds a substantial amount to the total cost of an electric vehicle. Even though there will be long-term savings from lower fuel and maintenance costs, these costs may discourage some potential buyers. In certain parts of Europe, the lack of a sufficient infrastructure for charging electric cars also presents a barrier to their widespread use. Customers continue to be concerned about range anxiety, or the fear of running out of battery power before arriving at a charging station.
Market Competitive Landscape
There is moderate market concentration for batteries for electric vehicles. BYD Co. Ltd, Contemporary Amperex Technology Co. Ltd, East Penn Manufacturing Company, GS Yuasa Corporation, Hitachi Ltd, LG Energy Solutions, Panasonic Corporation, Samsung SDI Co. Ltd, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Battery Type, By Vehicle Type.
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| Regions covered | Eastern Region, Western Region, Southern Region, Northern Region
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| Companies Covered | BYD Co. Ltd, Contemporary Amperex Technology Co. Ltd, East Penn Manufacturing Company, GS Yuasa Corporation, Hitachi Ltd, LG Energy Solutions, Panasonic Corporation, Samsung SDI Co. Ltd, Others
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COVID-19 Impact on Europe Electric Vehicle Battery Market
Various industries were severely affected by the pandemic, including the automotive industry, where major manufacturers were forced to temporarily halt operations or operate at reduced capacity in compliance with government directives. The COVID-19 outbreak had a detrimental effect on the energy materials and renewable generation and conversion industries, which included battery-powered electric vehicles, grid storage, and personal electronic devices. Manufacturing facilities, supply chains, and customer demands were all paralyzed in Europe during the lockdowns in the first half of 2020. Due to a decline in demand and temporary plant closures, the European market for EV batteries was badly impacted.
Key Target Audience
- Automotive Manufacturers and OEMs
- Battery Manufacturers and Suppliers
- Research and Development Institutions
- Regulatory Bodies and Government Agencies
- Electric Vehicle (EV) Fleet Operators
- Automotive Dealerships and Retailers
Our in-depth analysis of the Europe Electric Vehicle Battery Market includes the following segments:
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By Battery Type: |
Lead-acid Battery
Lithium-ion Battery
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By Vehicle Type: |
Battery Electric Vehicle
Plug-in-Hybrid Electric Vehicle
Hybrid Electric Vehicle
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By Region: |
Eastern Region
Western Region
Southern Region
Northern Region
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Key Topics Covered in the Report
- Europe Electric Vehicle Battery Market Size (FY’2023-FY’2033)
- Overview of Europe Electric Vehicle Battery Market
- Segmentation of Europe Electric Vehicle Battery Market By Battery Type (Lead-acid Battery, Lithium-ion Battery, Others)
- Segmentation of Europe Electric Vehicle Battery Market By Vehicle Type (Battery Electric Vehicle, Plug-in-Hybrid Electric Vehicle, Hybrid Electric Vehicle)
- Expansion Analysis of Europe Electric Vehicle Battery Market
- Problems and Obstacles in Europe Electric Vehicle Battery Market
- Competitive Landscape in the Europe Electric Vehicle Battery Market
- Impact of COVID-19 and Demonetization on Europe Electric Vehicle Battery Market
- Details on Current Investment in Europe Electric Vehicle Battery Market
- Competitive Analysis of Europe Electric Vehicle Battery Market
- Prominent Players in the Europe Electric Vehicle Battery Market
- SWOT Analysis of Europe Electric Vehicle Battery Market
- Europe Electric Vehicle Battery Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Europe Electric Vehicle Battery Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Electric Vehicle Battery Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Electric Vehicle Battery Market
7. Europe Electric Vehicle Battery Market, By Battery Type (USD Million)
7.1. Europe Electric Vehicle Battery Market Value Share and Forecast, By Battery Type, 2023-2033
7.2. Lead-acid Battery
7.3. Lithium-ion Battery
7.4. Others
8. Europe Electric Vehicle Battery Market, By Vehicle Type (USD Million)
8.1. Europe Electric Vehicle Battery Market Value Share and Forecast, By Vehicle Type, 2023-2033
8.2. Battery Electric Vehicle
8.3. Plug-in-Hybrid Electric Vehicle
8.4. Hybrid Electric Vehicle
9. Europe Electric Vehicle Battery Market Forecast, 2019-2033 (USD Million)
9.1. Europe Electric Vehicle Battery Market Size and Market Share
10. Europe Electric Vehicle Battery Market, By Battery Type, 2019-2033 (USD Million)
10.1. Europe Electric Vehicle Battery Market Size and Market Share By Battery Type (2019-2026)
10.2. Europe Electric Vehicle Battery Market Size and Market Share By Battery Type (2027-2033)
11. Europe Electric Vehicle Battery Market, By Vehicle Type, 2019-2033 (USD Million)
11.1. Europe Electric Vehicle Battery Market Size and Market Share By Vehicle Type (2019-2026)
11.2. Europe Electric Vehicle Battery Market Size and Market Share By Vehicle Type (2027-2033)
12. Europe Electric Vehicle Battery Market, By Region, 2019-2033 (USD Million)
12.1. Europe Electric Vehicle Battery Market Size and Market Share By Region (2019-2026)
12.2. Europe Electric Vehicle Battery Market Size and Market Share By Region (2027-2033)
12.3. Eastern Region
12.4. Western Region
12.5. Southern Region
12.6. Northern Region
13. Company Profile
13.1. BYD Co. Ltd
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Contemporary Amperex Technology Co. Ltd
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. East Penn Manufacturing Company
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. GS Yuasa Corporation
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Hitachi Ltd
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. LG Energy Solutions
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Panasonic Corporation
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Samsung SDI Co. Ltd
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
