The global passenger xEV (BEVs, PHEVs, HEVs) battery market is currently doubling year-over-year, reaching staggering new levels. Following a blistering fourth quarter, 2021 saw a record 286.1 GWh of passenger EV battery capacity deployed onto roads globally, a remarkable 101.5% increase over 2020 as EV sales, especially battery electric vehicle (“BEV”) and plug-in hybrid electric vehicle (“PHEV”) sales, surged year-over-year.
In this report, lithium batteries refer to lithium battery cells, modules and battery packs sold by manufacturers to automotive OEMs.
According to the new market research report “EV Li-ion Battery - Global Market Insights and Sales Trends 2024”, published by QYResearch, the global EV Li-ion Battery market size is projected to reach USD 152.72 billion by 2029, at a CAGR of 12.1% during the forecast period.
- Global EV Li-ion Battery MarketSize(US$ Million), 2018-2029
Source: QYResearch, "EV Li-ion Battery - Global Market Insights and Sales Trends 2024”
- Global EV Li-ion Battery Top13Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
Source: QYResearch, "EV Li-ion Battery - Global Market Insights and Sales Trends 2024”
The global key manufacturers of EV Li-ion Battery include CATL, BYD, LG Energy Solution, Panasonic, SK on, Samsung SDI, CALB, Gotion High-tech, Sunwoda, Farasis Energy, etc.
In 2022, the global top five players had a share approximately 80.0% in terms of revenue.
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