France Electric Bus Battery Pack Market Size and Share
Market Overview
| Study Period | 2017 - 2029 |
|---|---|
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2029 |
| Market Size (2025) | USD 7.83 Million |
| Market Size (2029) | USD 21.53 Million |
| Growth Rate (2025 - 2029) | 28.79% CAGR |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order Image © Mordor Intelligence. Reuse requires attribution under CC BY 4.0. |
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France Electric Bus Battery Pack Market Analysis by Mordor Intelligence
The France Electric Bus Battery Pack Market size is estimated at 7.83 million USD in 2025, and is expected to reach 21.53 million USD by 2029, growing at a CAGR of 28.79% during the forecast period (2025-2029).
The French electric bus battery pack industry is experiencing significant transformation driven by ambitious sustainability goals and technological advancements. The French government has demonstrated strong commitment through substantial investments, including a EUR 200 million allocation to support local and urban mobility authorities in electrifying their vehicle fleets. This initiative aligns with broader European Union objectives of achieving greenhouse gas neutrality by 2050. The industry's evolution is further supported by the "France 2030" plan, which pledges USD 30 billion for domestic production of electric and hybrid vehicles, targeting 2 million units by 2030. These strategic investments are reshaping the competitive landscape and accelerating the transition to sustainable public transportation.
Technological innovation in battery efficiency and performance continues to drive market evolution. Current battery efficiency metrics show an average of 5.4 kilometers per kilowatt-hour (km/kWh) in 2023, reflecting ongoing improvements in energy utilization. Battery manufacturers are focusing on developing advanced materials and manufacturing processes to enhance energy density and charging capabilities. The industry is witnessing a shift toward more sophisticated battery management systems and thermal regulation technologies, enabling longer operational ranges and improved reliability for bus electrification operations.
The market structure is characterized by strong domestic leadership and international collaboration. Renault has emerged as a dominant player, commanding 23.12% of the French electric vehicle market share in 2023, leveraging its extensive network of over 500 dealerships nationwide. Strategic partnerships between battery manufacturers and bus producers are becoming increasingly common, fostering innovation and local production capabilities. These collaborations are essential for developing specialized battery solutions that meet the specific requirements of public transportation operations.
The industry is witnessing significant developments in battery manufacturing infrastructure and supply chain optimization. In June 2023, major investments were announced for battery cell production facilities, with plans to achieve an initial production capacity of 9 GWh annually, scalable to 24 GWh by 2030. This expansion in domestic manufacturing capability is complemented by advancements in recycling and circular economy initiatives, ensuring sustainable resource utilization throughout the battery lifecycle. The focus on localizing production is reducing dependency on international supply chains while creating new employment opportunities in the green technology sector, further supporting bus electrification efforts.
France Electric Bus Battery Pack Market Trends and Insights
Renault, Toyota Group, Peugeot, Hyundai, and Kia are the leading players in the French electric vehicle market
- The electric vehicle battery pack market in France is competitive, although five companies accounted for over 50% of the market as of 2022. These companies are, namely, Renault, Toyota Group, Peugeot, Hyundai, and Kia. Renault has witnessed the largest electric car sales, boasting a 23.12% share of the French electric vehicle battery pack market. As a domestic company, it enjoys a robust reputation among French consumers and has over 500 dealerships nationwide.
- The Toyota Group has a 15.94% share in the French electric vehicle battery pack market, ranking it second in terms of electric vehicle sales. The company's expansive service network, diverse product lineup, and trusted brand image contribute to its growth. Peugeot, another French brand, occupies the third place in the French electric vehicle battery pack market, with an 8.67% share. Catering to various client needs, the company thrives on a dependable supply and distribution chain.
- Hyundai, capturing 6.28% of the market share, stands as the fourth largest player in the French electric vehicle battery pack market. Its diverse offerings appeal to both mid-range and premium customers. Kia, holding roughly 4.90% of the market share, is the fifth largest player in the French electric vehicle battery pack market. Other notable companies in the French electric vehicle battery pack market include Mercedes-Benz, Dacia, Fiat, BMW, and Volkswagen.
Renault and Toyota sell more than 50% of EVs in France while employing the most battery packs
- Demand for electric vehicles in Europe is escalating, and France is witnessing a consistent uptick in this trend. The demand for electric compact SUVs is on the rise as consumer preference shifts toward sportier, adventurous driving experiences, accompanied by benefits comparable in price to sedans.
- In this burgeoning market, Renault Arkana sales have seen significant growth. The model appeals to those desiring an electric compact SUV that combines efficient mileage with affordability. The positive response to compact SUVs is evident in the French electric vehicle battery pack market. Consequently, the Renault Captur also emerged as a best-seller in 2022. Its offerings of a full hybrid and a slightly pricier plug-in hybrid, along with superior fuel efficiency, comfortable seating, and competitive pricing, have fueled its sales success.
- Several international brands are diversifying their portfolios in the French EV market with a range of electric SUVs and sedans. The Toyota Yaris hybrid has been a popular choice, registering impressive sales in 2022. Factors such as an extensive service network, competitive pricing, and a trusted brand image have driven the growth of Toyota models, exemplified by the 23,576 units of Toyota Yaris Cross sold in 2022. Competing alongside are models like Renault Clio, Peugeot 208, Tesla Model 3, Dacia Spring Electric, and Renault Megane, improving the EV landscape in France.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- France is driving electric vehicle sales with government support and incentives
- Declining battery prices are driving the demand for electric vehicles in France
- Technological advancements, increased production volumes, improved processes, raw material strategies, and growing competition drove consistent battery price decline in France from 2017 to 2022.
- International EV automakers are driving electrification in France by expanding market share and collaborating on advanced commercial vehicles
- In terms of battery chemistry, the NMC battery segment dominates the market
- Potential Ban on Internal Combustion Engines in the United Kingdom is Driving Electric Vehicle Adoption and Demand for Battery Materials
- Battery innovations are driving the electrification of vehicles in France
Segment Analysis: Propulsion Type
BEV Segment in France Electric Bus Battery Pack Market
The Battery Electric Vehicle (BEV) segment has established complete dominance in the France electric bus battery pack market, commanding approximately 100% of the market share in 2024. This overwhelming market presence can be attributed to several factors, including the French government's aggressive push towards zero-emission public transportation and substantial financial incentives for electric bus adoption. The segment is also experiencing remarkable growth, projected to expand at around 43% annually from 2024 to 2029. This growth trajectory is supported by the increasing focus on sustainable urban mobility solutions, advancements in battery technology, and the expanding charging infrastructure network across France. Major cities in France are actively transitioning their public transport fleets to all-electric options, while battery manufacturers are continuously improving their offerings with enhanced energy density, longer range capabilities, and faster charging times. The segment's growth is further bolstered by decreasing battery costs, improving operational efficiency, and the overall lower total cost of ownership compared to traditional alternatives.
PHEV Segment in France Electric Bus Battery Pack Market
The Plug-in Hybrid Electric Vehicle (PHEV) segment currently maintains a minimal presence in the French electric bus battery pack market. While PHEVs offer the advantage of dual power sources and reduced range anxiety, the market has shown a clear preference for fully electric solutions. This trend aligns with France's commitment to achieving complete zero-emission public transportation, where pure electric vehicles are seen as the more sustainable long-term solution. The limited adoption of PHEV buses can be attributed to factors such as higher maintenance complexity, additional powertrain components, and the increasing confidence in BEV technology's ability to meet operational requirements. As battery technology continues to advance and charging infrastructure expands, the market is expected to maintain its focus on fully electric solutions rather than hybrid alternatives.
Segment Analysis: Battery Chemistry
NMC Segment in France Electric Bus Battery Pack Market
The Nickel Manganese Cobalt (NMC) battery chemistry segment has established itself as the dominant force in the French electric bus battery pack market, commanding approximately 51% market share in 2024. This substantial market position can be attributed to NMC batteries' superior performance characteristics, including high energy density, improved safety features, and optimal thermal stability. The segment's leadership is further strengthened by major French automotive manufacturers' preference for NMC chemistry in their electric bus models, owing to its proven track record in delivering reliable performance across varying operating conditions. Additionally, the segment benefits from established supply chains and manufacturing infrastructure, which helps maintain competitive pricing and ensures steady availability for electric bus manufacturers.
NCM Segment in France Electric Bus Battery Pack Market
The Nickel Cobalt Manganese (NCM) battery chemistry segment is demonstrating remarkable growth potential in the French electric bus battery pack market, with projections indicating an impressive growth rate of approximately 45% from 2024 to 2029. This accelerated growth trajectory is driven by continuous technological advancements in NCM battery formulations, resulting in enhanced energy density and improved charging capabilities. The segment's expansion is further supported by increasing investments in research and development, focusing on optimizing the chemical composition to achieve better performance metrics. French electric bus manufacturers are increasingly adopting NCM batteries due to their balanced approach to power output, energy density, and cost-effectiveness, making them an attractive option for next-generation electric buses.
Remaining Segments in Battery Chemistry
The French electric bus battery pack market features several other significant battery chemistry segments, including Nickel Cobalt Aluminum (NCA), Lithium Iron Phosphate (LFP), and other emerging chemistries. The NCA segment maintains a strong presence due to its high energy density and excellent power handling capabilities, particularly in high-performance applications. LFP batteries are gaining attention for their enhanced safety profile and cost-effectiveness, making them particularly attractive for urban transit applications. Other emerging battery chemistries are also being explored, contributing to the market's technological diversity and providing manufacturers with various options to meet specific performance requirements and operational needs.
Segment Analysis: Capacity
40-80 kWh Segment in France Electric Bus Battery Pack Market
The 40-80 kWh battery capacity segment dominates the French electric bus battery pack market, commanding approximately 61% market share in 2024. This segment's prominence can be attributed to its optimal balance between driving range and weight considerations, making it particularly suitable for urban transit operations. The segment's leadership position is reinforced by its ability to meet the diverse operational requirements of different bus routes while maintaining cost efficiency. Major electric bus manufacturers in France have standardized their offerings around this capacity range, as it provides sufficient energy storage for typical daily routes while avoiding the additional costs and weight penalties associated with larger battery packs. The segment's dominance is further supported by the French government's initiatives promoting electric bus adoption in urban areas, where this capacity range proves most practical for regular transit operations.
Above 80 kWh Segment in France Electric Bus Battery Pack Market
The above 80 kWh segment is emerging as the fastest-growing segment in the French electric bus battery pack market, with projections indicating substantial growth between 2024 and 2029. This remarkable growth trajectory is driven by increasing demand for longer-range electric buses, particularly for intercity routes and high-frequency urban corridors. The segment's expansion is supported by technological advancements in battery manufacturing, which have led to improved energy density and reduced costs for higher-capacity battery packs. French municipalities and transport operators are increasingly investing in buses with larger battery capacities to ensure operational flexibility and reduce charging frequency. The segment's growth is further accelerated by the development of fast-charging infrastructure across France, making the operation of high-capacity battery buses more practical and efficient.
Remaining Segments in Capacity
The remaining capacity segments, including the 15-40 kWh and less than 15 kWh categories, play important complementary roles in the French electric bus battery pack market. The 15-40 kWh segment serves specific urban applications where frequent charging opportunities are available, making it ideal for shorter routes and shuttle services. Meanwhile, the less than 15 kWh segment caters to specialized applications such as small shuttle buses and last-mile connectivity solutions. These segments offer operators flexibility in choosing battery capacities that match their specific operational requirements, route characteristics, and charging infrastructure availability. The diversity in capacity options ensures that transport operators can optimize their fleet composition based on their unique operational needs and infrastructure constraints.
Segment Analysis: Method
Wire Method Segment in France Electric Bus Battery Pack Market
The wire method dominates the French electric bus battery pack market, commanding approximately 55% market share in 2024. This traditional manufacturing technique maintains its leadership position due to its cost-effectiveness and well-established supply chain infrastructure. The wire method, which involves winding a coil around a cylindrical metal casing housing the battery cells, offers manufacturers a reliable and proven production process. The widespread adoption of this method can be attributed to its relatively simple implementation, lower capital investment requirements, and the availability of a skilled workforce familiar with the technology. French electric bus manufacturers particularly favor this method due to its scalability and compatibility with existing production lines, making it the preferred choice for large-scale battery pack manufacturing operations.
Laser Method Segment in France Electric Bus Battery Pack Market
The laser method segment is experiencing remarkable growth in the French electric bus battery pack market, with projections indicating an impressive expansion trajectory from 2024 to 2029. This advanced manufacturing technique, which utilizes precision laser welding for battery cell assembly, is gaining traction due to its superior accuracy and potential for automation. The technology's ability to deliver consistent weld quality and minimize material waste has made it increasingly attractive to manufacturers seeking to enhance their production capabilities. The growing emphasis on quality control and the need for more sophisticated battery pack designs is driving the adoption of laser-based manufacturing methods. Additionally, improvements in laser technology and declining equipment costs are making this method more accessible to manufacturers, contributing to its accelerated growth in the French market.
Segment Analysis: Component
Cathode Segment in France Electric Bus Battery Pack Market
The cathode segment has established itself as the dominant component in France's electric bus battery pack market, commanding approximately 69% of the total market volume in 2024. This substantial market share can be attributed to the cathode's crucial role in determining battery performance, energy density, and overall efficiency. The segment's leadership position is reinforced by continuous technological advancements in cathode materials, particularly in nickel-rich cathode compositions that offer higher energy density and improved performance. French electric bus manufacturers are increasingly adopting advanced cathode materials to meet the growing demand for longer-range electric buses while maintaining optimal performance and safety standards. The segment's growth is further supported by strategic partnerships between battery manufacturers and material suppliers, ensuring a stable supply chain for high-quality cathode materials.
Separator Segment in France Electric Bus Battery Pack Market
The separator segment is emerging as the fastest-growing component in the French electric bus battery pack market, with a projected growth rate of approximately 42% from 2024 to 2029. This remarkable growth trajectory is driven by increasing investments in advanced separator technologies that enhance battery safety and performance. Manufacturers are focusing on developing innovative separator materials that offer improved thermal stability, better mechanical strength, and enhanced ionic conductivity. The segment's growth is also supported by the rising adoption of next-generation battery technologies that require high-performance separators. French battery manufacturers are increasingly incorporating advanced ceramic-coated and composite separators that provide better protection against thermal runaway and extend battery life, making them essential for electric bus applications.
Remaining Segments in Component
The anode and electrolyte segments continue to play vital roles in shaping the French electric bus battery pack market. The anode segment is witnessing significant developments in silicon-based and graphite materials, offering improved energy storage capabilities and faster charging times. Manufacturers are investing in research and development to enhance anode performance while reducing costs. Meanwhile, the electrolyte segment is experiencing innovation through the development of advanced liquid and solid-state electrolytes, focusing on improving safety and conductivity. Both segments are crucial in determining the overall performance, safety, and reliability of electric bus battery packs, with manufacturers continuously working on optimizing these components to meet the evolving demands of the electric bus industry.
Segment Analysis: Material Type
Natural Graphite Segment in France Electric Bus Battery Pack Market
Natural graphite has emerged as the dominant material type in the French electric bus battery pack market, driven by its superior properties and cost-effectiveness. The segment holds approximately 31% market share in 2024, as manufacturers increasingly prefer natural graphite for its high energy density, longer lifespan, and fast charging capabilities. The material's excellent conductivity and stability make it particularly suitable for electric bus applications, where reliable performance is crucial. French battery manufacturers are actively incorporating advanced natural graphite materials to enhance battery efficiency and durability. The growing emphasis on sustainable and locally sourced materials has further strengthened natural graphite's position in the market, as it aligns with France's environmental objectives and supply chain resilience goals.
Manganese Segment in France Electric Bus Battery Pack Market
The manganese segment is experiencing remarkable growth in the French electric bus battery pack market, with projections indicating robust expansion from 2024 to 2029. This growth is primarily attributed to manganese's essential role in improving battery performance and stability. Manufacturers are increasingly incorporating manganese-based materials in their battery formulations due to their ability to enhance energy density and thermal stability. The material's cost-effectiveness compared to other battery materials has made it an attractive option for manufacturers looking to optimize production costs while maintaining performance standards. French battery manufacturers are investing in research and development to further improve manganese-based battery technologies, focusing on enhancing their efficiency and longevity. The segment's growth is also supported by the material's abundant availability and established supply chains.
Remaining Segments in Material Type
The other material segments in the French electric bus battery pack market, including cobalt, lithium, and nickel, each play crucial roles in battery technology advancement. Cobalt continues to be valued for its ability to enhance battery stability and performance, though manufacturers are working to optimize its usage due to supply chain considerations. Lithium remains fundamental to battery chemistry, with ongoing innovations in lithium-based materials improving energy density and charging capabilities. Nickel is gaining importance for its role in increasing energy density and reducing costs, while other materials contribute to various aspects of battery performance and sustainability. These segments collectively support the diverse requirements of electric bus components, with manufacturers often combining multiple materials to achieve optimal performance characteristics.
Competitive Landscape
Top Companies in France Electric Bus Battery Pack Market
The French electric bus battery pack market is characterized by intense competition among established players who are actively pursuing innovation and expansion strategies. Companies are investing heavily in research and development to improve battery performance, focusing on aspects like energy density, charging speed, and safety features. Strategic partnerships and collaborations have become increasingly common, particularly between battery manufacturers and electric bus OEMs, to strengthen market positions and enhance technological capabilities. Manufacturing capacity expansion has emerged as a key trend, with companies establishing new production facilities to meet growing demand. Players are also diversifying their product portfolios to offer various battery chemistries and capacities, while simultaneously working on developing next-generation battery technologies like solid-state batteries. The market has seen significant investment in localizing production capabilities, particularly in response to government initiatives promoting domestic manufacturing.
Market Dominated by Global Technology Leaders
The French electric bus battery pack market exhibits a highly consolidated structure, with major global players holding significant market share. These companies typically bring extensive experience from the broader electric vehicle battery sector, leveraging their technological expertise and established supply chains. The market is primarily dominated by large conglomerates from Asia and Europe, who possess substantial research capabilities and manufacturing infrastructure. Local French companies, particularly those backed by government support, are gradually expanding their presence through strategic partnerships and domestic production initiatives.
The competitive landscape has been shaped by several strategic mergers and acquisitions, as companies seek to strengthen their market position and acquire complementary technologies. Joint ventures between established battery manufacturers and automotive companies have become increasingly common, creating integrated solutions for the electric bus powertrain market. The market has also witnessed the emergence of specialized players focusing on specific battery technologies or market segments, though their market share remains relatively small compared to the major players. The presence of state-backed enterprises and research institutions has added another dimension to the competitive dynamics, particularly in driving innovation and technology development.
Innovation and Integration Drive Future Success
Success in the French electric bus battery pack market increasingly depends on companies' ability to integrate vertically and maintain technological leadership. Incumbent players must focus on continuous innovation in battery chemistry and design while simultaneously scaling up production capabilities to achieve cost efficiencies. Building strong relationships with electric bus manufacturers and transport authorities has become crucial for securing long-term contracts. Companies need to develop comprehensive service offerings, including battery management systems and after-sales support, to differentiate themselves in the market. The ability to provide flexible and customizable solutions that meet specific operational requirements of different bus operators has become a key competitive advantage.
For new entrants and smaller players, success lies in identifying and exploiting specific market niches while building strategic partnerships. Companies must invest in developing specialized technologies or focus on specific applications where they can build competitive advantages. The regulatory environment, particularly regarding environmental standards and safety requirements, continues to shape market dynamics and create opportunities for companies with compliant technologies. The increasing focus on circular economy principles and battery recycling presents new opportunities for companies to differentiate themselves. Players must also consider the growing importance of local content requirements and develop strategies to establish domestic manufacturing capabilities while maintaining cost competitiveness. The integration of electric bus components into broader bus electrification strategies is becoming increasingly important for market differentiation.
France Electric Bus Battery Pack Industry Leaders
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Akasol AG
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Blue Solutions SA (Bolloré Group)
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Contemporary Amperex Technology Co. Ltd. (CATL)
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IRIZAR S.COOP.
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Panasonic Holdings Corporation
- *Disclaimer: Major Players sorted in no particular order
Recent Industry Developments
- January 2023: Samsung SDI is reportedly considering building an electric vehicle battery joint venture with BMW, its largest customer, in Hungary.
- May 2021: ElecSys France and the French battery manufacturer Forsee Power are partnering to develop and produce battery systems for electric vehicles.
- November 2020: ElecSys France has announced a new contract to supply battery management systems for a range of electric vehicles produced by a major European automotive manufacturer.
France Electric Bus Battery Pack Market Report Scope
BEV, PHEV are covered as segments by Propulsion Type. LFP, NCA, NCM, NMC, Others are covered as segments by Battery Chemistry. 15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh are covered as segments by Capacity. Cylindrical, Pouch, Prismatic are covered as segments by Battery Form. Laser, Wire are covered as segments by Method. Anode, Cathode, Electrolyte, Separator are covered as segments by Component. Cobalt, Lithium, Manganese, Natural Graphite, Nickel are covered as segments by Material Type.| BEV |
| PHEV |
| LFP |
| NCA |
| NCM |
| NMC |
| Others |
| 15 kWh to 40 kWh |
| 40 kWh to 80 kWh |
| Above 80 kWh |
| Less than 15 kWh |
| Cylindrical |
| Pouch |
| Prismatic |
| Laser |
| Wire |
| Anode |
| Cathode |
| Electrolyte |
| Separator |
| Cobalt |
| Lithium |
| Manganese |
| Natural Graphite |
| Nickel |
| Other Materials |
| Propulsion Type | BEV |
| PHEV | |
| Battery Chemistry | LFP |
| NCA | |
| NCM | |
| NMC | |
| Others | |
| Capacity | 15 kWh to 40 kWh |
| 40 kWh to 80 kWh | |
| Above 80 kWh | |
| Less than 15 kWh | |
| Battery Form | Cylindrical |
| Pouch | |
| Prismatic | |
| Method | Laser |
| Wire | |
| Component | Anode |
| Cathode | |
| Electrolyte | |
| Separator | |
| Material Type | Cobalt |
| Lithium | |
| Manganese | |
| Natural Graphite | |
| Nickel | |
| Other Materials |
Market Definition
- Battery Chemistry - Various types of battery chemistry considred under this segment include LFP, NCA, NCM, NMC, Others.
- Battery Form - The types of battery forms offered under this segment include Cylindrical, Pouch and Prismatic.
- Body Type - Body types considered under this segment include is variety of buses.
- Capacity - Various types of battery capacities inldude under theis segment are 15 kWH to 40 kWH, 40 kWh to 80 kWh, Above 80 kWh and Less than 15 kWh.
- Component - Various components covered under this segment include anode, cathode, electrolyte, separator.
- Material Type - Various material covered under this segment include cobalt, lithium, manganese, natural graphite, nickel, other material.
- Method - The types of method covered under this segment include laser and wire.
- Propulsion Type - Propulsion types considered under this segment include BEV (Battery electric vehicles), PHEV (plug-in hybrid electric vehicle).
- ToC Type - ToC 3
- Vehicle Type - Vehicle type considered under this segment include commercial vehicles with various EV powertrains.
| Keyword | Definition |
|---|---|
| Electric vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
| PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all electric vehicles as well as plug-electric vehicles as well as plug-in hybrids. |
| Battery-as-a-Service | A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge |
| Battery Cell | The basic unit of an electric vehicle's battery pack, typically a lithium-ion cell, that stores electrical energy. |
| Module | A subsection of an EV battery pack, consisting of several cells grouped together, often used to facilitate manufacturing and maintenance. |
| Battery Management System (BMS) | An electronic system that manages a rechargeable battery by protecting the battery from operating outside its safe operating area, monitoring its state, calculating secondary data, reporting data, controlling its environment, and balancing it. |
| Energy Density | A measure of how much energy a battery cell can store in a given volume, usually expressed in watt-hours per liter (Wh/L). |
| Power Density | The rate at which energy can be delivered by the battery, often measured in watts per kilogram (W/kg). |
| Cycle Life | The number of complete charge-discharge cycles a battery can perform before its capacity falls under a specified percentage of its original capacity. |
| State of Charge (SOC) | A measurement, expressed as a percentage, that represents the current level of charge in a battery compared to its capacity. |
| State of Health (SOH) | An indicator of the overall condition of a battery, reflecting its current performance compared to when it was new. |
| Thermal Management System | A system designed to maintain optimal operating temperatures for an EV's battery pack, often using cooling or heating methods. |
| Fast Charging | A method of charging an EV battery at a much faster rate than standard charging, typically requiring specialized charging equipment. |
| Regenerative Braking | A system in electric and hybrid vehicles that recovers energy normally lost during braking and stores it in the battery. |
Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
