Germany Electric Commercial Vehicle 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 0.5 Billion |
| Market Size (2029) | USD 1.2 Billion |
| Growth Rate (2025 - 2029) | 24.72% 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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Germany Electric Commercial Vehicle Battery Pack Market Analysis by Mordor Intelligence
The Germany Electric Commercial Vehicle Battery Pack Market size is estimated at 0.5 billion USD in 2025, and is expected to reach 1.2 billion USD by 2029, growing at a CAGR of 24.72% during the forecast period (2025-2029).
The German electric commercial vehicle battery pack industry is undergoing a significant transformation driven by ambitious governmental initiatives and sustainability targets. The German government has demonstrated its commitment to electrification of commercial vehicles through substantial investments, including a USD 7.9 billion funding package announced in August 2021 to accelerate the electrification of commercial vehicle fleets. This comprehensive strategy includes provisions for retrofitting existing diesel vehicles and offering subsidies of up to 80% of the additional costs associated with choosing electric over conventional diesel vehicles. The government's vision extends to 2030, with aims to have 40-50% of newly registered commercial vehicles being electric, representing a potential annual sales volume exceeding 300,000 units.
Technological advancements in battery development are reshaping the industry landscape, with manufacturers pushing the boundaries of innovation and efficiency. Battery energy density and range capabilities have seen remarkable improvements, with some manufacturers now offering battery packs for commercial vehicles boasting capacities of up to 1,000 kWh. These developments are particularly significant for the commercial sector, where vehicle range and charging frequency are critical operational considerations. The industry has also witnessed substantial cost optimizations, with battery pack prices declining by approximately 80% over the past decade, though they remain a significant factor in overall vehicle costs.
The market structure is characterized by strong competition and strategic partnerships between automotive manufacturers and battery technology providers. Volkswagen has emerged as the dominant player in the German electric vehicle market, commanding a 10.10% market share, followed by Mercedes-Benz with 8.59% and Tesla with 7.55%. This competitive landscape has fostered innovation and diversification in battery technologies, with manufacturers exploring various chemical compositions to optimize performance and cost-effectiveness. NCM (Nickel Cobalt Manganese) chemistry has established itself as the preferred choice, capturing 64.84% of the market share in 2023, owing to its superior energy density and performance characteristics.
Infrastructure development and manufacturing capacity expansion are becoming increasingly crucial elements of the industry's growth strategy. Major manufacturers are investing in domestic battery production facilities to ensure supply chain resilience and meet growing demand. The industry is witnessing a shift toward vertical integration, with automotive manufacturers establishing dedicated battery production facilities or forming strategic partnerships with battery specialists. This trend is complemented by ongoing research and development efforts focused on next-generation battery technologies, including solid-state batteries and advanced thermal management systems, which promise to deliver improved performance, safety, and longevity for electric truck batteries and electric bus batteries applications.
Germany Electric Commercial Vehicle Battery Pack Market Trends and Insights
TOP GERMAN EV MANUFACTURERS: VOLKSWAGEN, MERCEDES-BENZ, TESLA, BMW, AND HYUNDAI DOMINATE THE INDUSTRY
- The German electric vehicle market has a variety of players and is majorly driven by the five major players, accounting for more than 40% of the market in 2022. Some of the prominent players include Volkswagen, Mercedes-Benz, Tesla, BMW, and Hyundai. Volkswagen is the largest seller of electric vehicles in Germany, accounting for around 10.10% of the market. The company has a strong presence in European countries, including Germany. The company has a wide brand portfolio under its name, with a variety of product offerings in the electric vehicle range. A strong brand image and large customer base have put the brand at the top in Germany.
- Mercedes-Benz is the second largest seller of electric vehicles, accounting for around 8.59% market share across Germany. The company offers a variety of range of EVs for premium customers along with a strong service network across Germany serving customers. Third place in EV sales across Germany is acquired by Tesla, with around 7.55% of the market share. The company has strong innovative strategies and offers a wide variety of pure electric cars under its product offerings.
- BMW is the fourth largest player, acquiring around 6.72% of the market share in EV sales across Germany. The brand has a strong production and supply chain network and wide innovative and diverse product offerings in hybrid and pure electric vehicles. The fifth-largest player operating in the German EV market is Hyundai, maintaining its market share at around 6.25%. Some of the other players selling EVs in Germany include Audi, Renault, Kia, Seat, and Opel.
TESLA AND FIAT DRIVE THE GERMAN BATTERY PACK MARKET
- The demand for electric vehicles has been growing continuously over the past few years across Germany. It has also increased the demand for batteries in recent years. A variety of brands and various models are being sold in the country. However, a major share was acquired by the top five models in 2022, including Tesla Models Y, Tesla Models 3, Fiat 500, Ford Kuga, and Toyota Yaris. Tesla Model Y maintained its position at the top, with 35,426 units sold in 2022. Model Y is highly popular due to its long-range, good seating capacity, and large cargo capacity.
- The Tesla Model 3 took second place with 33,841 sales in Germany in 2022. The car is available in rear-wheel drive and performance versions. Due to its strong performance characteristics, Model 3 is drawing the attention of customers. Fiat 500 took third position in electric car sales, with sales of 29,635 in Germany. The car comes in hybrid and fully electric powertrain options and has highly attracted consumers looking for small electric cars on an affordable budget.
- The fourth place in the electric vehicle models’ sales is acquired by the Ford Kuga with 28,410 in Germany. The car comes with the option of a hybrid and a plug-in hybrid option. The fifth place is acquired by the Toyota Yaris, selling 26,376 units in 2022 across Germany. Some of the other top-selling models include Volkswagen ID.3, Mitsubishi Eclipse Cross, Seat CUPRA Formentor, Hyundai Kona, and Volkswagen ID.4
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- GERMANY LEADS THE ELECTRIC VEHICLE REVOLUTION WITH SIGNIFICANT DEMAND AND SALES GROWTH
- DECLINING LITHIUM-ION BATTERY PRICES DRIVE DEMAND FOR ELECTRIC VEHICLES IN GERMANY
- TECHNOLOGICAL ADVANCEMENTS, INCREASED COMPETITION, AND SUPPORTIVE GOVERNMENT POLICIES DRIVE CONTINUOUS BATTERY PRICE DECLINE IN GERMANY.
- BATTERY PACK DEMAND IN GERMANY IS ON THE RISE AS THE COUNTRY BECOMES MORE ELECTRIFIED, MORE ELECTRIC VEHICLES ENTER THE MARKET, AND EXISTING FLEETS GROW
- NMC BATTERIES ARE BECOMING MORE POPULAR IN THE GERMAN EV BATTERY PACK MARKET
- THE GROWING ELECTRIC VEHICLE MARKET IN GERMANY DRIVES INCREASED DEMAND FOR BATTERY MATERIALS AND SHIFTING BATTERY CHEMISTRIES
- ADVANCEMENTS IN BATTERY TECHNOLOGY DRIVE THE GROWTH OF ELECTRIC VEHICLES IN GERMANY
Segment Analysis: Body Type
LCV Segment in German Electric Commercial Vehicle Battery Pack Market
Light Commercial Vehicles (LCVs) dominate the German electric commercial vehicle battery pack market, commanding approximately 52% of the total market share in 2024. This significant market position can be attributed to the increasing adoption of electric delivery vans and small commercial vehicles in urban areas, particularly driven by the growing e-commerce sector and last-mile delivery requirements. The segment's growth is further supported by favorable government policies promoting zero-emission commercial vehicles in city centers, along with the expanding charging infrastructure network across Germany. Additionally, major automotive manufacturers are introducing new electric LCV models with improved range and payload capacity, catering to diverse business needs and contributing to the segment's market leadership.
M&HDT Segment in German Electric Commercial Vehicle Battery Pack Market
The Medium and Heavy-Duty Truck (M&HDT) segment is projected to experience the fastest growth in the German electric commercial vehicle battery pack market during 2024-2029, with an expected growth rate of approximately 35%. This remarkable growth trajectory is driven by increasing investments in electric truck battery infrastructure, advancements in battery technology enabling longer range capabilities, and growing demand for sustainable logistics solutions. The segment is witnessing strong momentum as fleet operators increasingly transition to electric trucks to comply with stringent emission regulations and reduce operational costs. Furthermore, the development of high-capacity charging stations along major transportation routes and the introduction of government incentives specifically targeting the electrification of heavy-duty vehicles are accelerating the segment's expansion.
Remaining Segments in Body Type
The Bus segment, while smaller in market share, plays a crucial role in the German electric commercial vehicle battery pack market. Electric bus battery systems are increasingly being adopted by public transportation authorities and private operators as part of sustainable urban mobility initiatives. The segment's growth is driven by municipal commitments to zero-emission public transportation, improved battery technology enabling longer operating ranges, and the development of specialized charging infrastructure for bus depots. The transition to electric buses is particularly significant in urban areas where reducing noise pollution and improving air quality are primary concerns, making this segment an important contributor to the overall market development.
Segment Analysis: Propulsion Type
BEV Segment in German Electric Commercial Vehicle Battery Pack Market
Battery Electric Vehicles (BEVs) represent the dominant force in the German electric commercial vehicle battery pack market, commanding approximately 99% of the total market share in 2024. This overwhelming dominance can be attributed to several factors, including the German government's aggressive push towards complete vehicle electrification, substantial investments in charging infrastructure, and increasing preference among fleet operators for zero-emission vehicles. The segment's growth is further supported by advancements in battery technology, leading to improved range and performance capabilities. Major automotive manufacturers in Germany have expanded their BEV commercial vehicle portfolios, offering a wide range of options from delivery vans to heavy-duty trucks. The segment has also benefited from favorable government policies, including purchase incentives and tax benefits, making BEVs an increasingly attractive option for commercial fleet operators.
PHEV Segment in German Electric Commercial Vehicle Battery Pack Market
The Plug-in Hybrid Electric Vehicle (PHEV) segment is emerging as the fastest-growing segment in the German electric commercial vehicle battery pack market, with a projected growth rate of approximately 49% from 2024 to 2029. This remarkable growth trajectory is driven by several factors, including the segment's ability to serve as a transitional technology for fleet operators who are gradually moving towards full electrification. PHEVs offer the flexibility of both electric and conventional powertrains, making them particularly attractive for commercial applications where charging infrastructure might be limited or where longer ranges are required. The segment is witnessing increased investment in research and development, leading to more efficient hybrid powertrains and improved battery technology. Additionally, manufacturers are expanding their PHEV commercial vehicle offerings, particularly in the medium-duty segment, where the dual-power capability proves advantageous for various operational requirements.
Segment Analysis: Battery Chemistry
NCM Segment in German Electric Commercial Vehicle Battery Pack Market
The NCM (Nickel Cobalt Manganese) battery chemistry segment dominates the German electric commercial vehicle battery pack market, holding approximately 64% market share in 2024. This significant market position can be attributed to NCM batteries' superior performance characteristics, including high energy density and improved thermal stability. Major automotive manufacturers in Germany are increasingly adopting NCM battery technology for their electric commercial vehicles due to its optimal balance of cost, performance, and reliability. The segment's dominance is further strengthened by ongoing technological advancements in NCM chemistry, which continue to enhance battery performance and longevity. Additionally, the established supply chain infrastructure and manufacturing capabilities for NCM batteries in Germany have contributed to its market leadership position.
NMC Segment in German Electric Commercial Vehicle Battery Pack Market
The NMC (Nickel Manganese Cobalt) battery chemistry segment is emerging as the fastest-growing segment in the German electric commercial vehicle battery pack market, with an expected growth rate of approximately 42% from 2024 to 2029. This remarkable growth trajectory is driven by several factors, including technological innovations that have improved the energy density and charging capabilities of NMC batteries. The segment's growth is further accelerated by increasing investments in research and development, focusing on enhancing the safety features and performance characteristics of NMC batteries. German automotive manufacturers are particularly attracted to NMC chemistry due to its potential for cost optimization and improved energy efficiency. The segment is also benefiting from the expanding charging infrastructure network across Germany, which supports the adoption of electric commercial vehicles powered by NMC batteries.
Remaining Segments in Battery Chemistry
The remaining segments in the battery chemistry market include LFP (Lithium Iron Phosphate) and NCA (Nickel Cobalt Aluminum) batteries, each offering unique advantages for specific commercial vehicle applications. LFP batteries are gaining attention for their enhanced safety features and longer cycle life, making them particularly suitable for heavy-duty commercial vehicles operating in demanding conditions. Meanwhile, NCA batteries are valued for their high energy density and potential for cost reduction through technological improvements. These segments complement the market by providing diverse options for different commercial vehicle requirements, from urban delivery vans to long-haul trucks. The continued development of these battery chemistries contributes to the overall advancement of electric commercial vehicle technology in Germany, offering manufacturers more choices to meet specific performance and operational requirements.
Segment Analysis: Battery Form
Pouch Segment in German Electric Commercial Vehicle Battery Pack Market
The pouch battery form segment has emerged as the dominant force in the German electric commercial vehicle battery pack market, commanding approximately 43% market share in 2024. This significant market position can be attributed to several key advantages that pouch batteries offer, including their high energy density, flexible form factor, and efficient space utilization in electric commercial vehicles. The segment's leadership is further strengthened by its superior thermal management capabilities and cost-effectiveness in manufacturing processes. Major automotive manufacturers in Germany are increasingly preferring pouch batteries for their electric commercial vehicle models due to their ability to be customized according to specific vehicle requirements. The segment is also experiencing the highest growth trajectory, expected to expand at around 35% annually from 2024 to 2029, driven by technological advancements in pouch battery design and increasing adoption in various commercial vehicle applications. The growth is further supported by ongoing investments in research and development to enhance the performance and safety features of pouch batteries.
Remaining Segments in Battery Form
The prismatic and cylindrical battery form segments continue to play crucial roles in the German electric commercial vehicle battery pack market, each offering unique advantages for different vehicle applications. Prismatic batteries are particularly valued for their robust construction and efficient space utilization in larger commercial vehicles, while cylindrical batteries are preferred in applications requiring high structural stability and standardized manufacturing processes. These segments are witnessing continuous technological improvements in terms of energy density, charging capabilities, and safety features. The choice between these battery forms often depends on specific vehicle requirements, including size constraints, power needs, and thermal management considerations. Both segments are benefiting from ongoing research and development efforts to enhance their performance characteristics and manufacturing efficiency. The competitive dynamics between these battery forms are driving innovation across the industry, leading to improved overall battery performance and reliability in electric commercial vehicles.
Segment Analysis: Method
Laser Segment in German Electric Commercial Vehicle Battery Pack Market
The laser segment has emerged as the dominant force in the German electric commercial vehicle battery pack market, commanding approximately 66% of the total market value in 2024. This segment's prominence can be attributed to several key advantages that laser technology offers in battery pack manufacturing, including higher precision, improved energy density, and enhanced durability compared to traditional methods. The segment is also experiencing remarkable growth, projected to expand at around 37% annually from 2024 to 2029. This substantial growth is driven by increasing adoption of laser welding techniques in battery manufacturing, as they enable better quality control, reduced production costs, and improved battery performance. The advancement in laser technology, coupled with the growing demand for high-performance electric commercial vehicle batteries, has positioned this segment as the preferred choice among manufacturers. Additionally, the segment's growth is supported by ongoing technological innovations, increasing investments in manufacturing capabilities, and the rising focus on producing more efficient and reliable battery packs for commercial electric vehicles.
Wire Segment in German Electric Commercial Vehicle Battery Pack Market
The wire segment represents a traditional approach in battery pack manufacturing, offering reliability and cost-effectiveness for certain applications in the electric commercial vehicle market. While this segment currently holds a smaller market share, it continues to serve specific market needs where conventional wire-based manufacturing methods are preferred. The wire segment maintains its relevance through established manufacturing processes, lower initial investment requirements, and familiarity among traditional manufacturers. However, the segment faces challenges from advancing laser technology, which offers superior precision and efficiency. Despite these challenges, wire-based methods continue to find applications in specific niches where cost considerations outweigh the need for advanced manufacturing techniques. The segment's future trajectory will likely be shaped by improvements in wire technology, cost optimization strategies, and the ability to adapt to changing market demands while maintaining competitive advantages in certain applications.
Segment Analysis: Component
Cathode Segment in German Electric Commercial Vehicle Battery Pack Market
The cathode segment dominates the German electric commercial vehicle battery pack market, holding approximately 69% market share in 2024. This significant market position can be attributed to the cathode's crucial role in determining battery performance, energy density, and overall efficiency. The segment's dominance is further strengthened by continuous technological advancements in cathode materials, particularly in nickel-rich compositions that offer higher energy density and improved performance. Major manufacturers are investing heavily in research and development to enhance cathode materials, focusing on reducing cobalt content while maintaining or improving performance characteristics. The growing demand for high-performance electric commercial vehicles in Germany has also contributed to the cathode segment's market leadership, as fleet operators increasingly prioritize vehicles with superior range and charging capabilities.
Separator Segment in German Electric Commercial Vehicle Battery Pack Market
The separator segment is emerging as the fastest-growing component in the German electric commercial vehicle battery pack market, with a projected growth rate of approximately 34% from 2024 to 2029. This remarkable growth is driven by increasing emphasis on battery safety and performance optimization in electric commercial vehicles. Manufacturers are investing in advanced separator technologies that offer enhanced thermal stability and improved ion conductivity, crucial for fast-charging capabilities and extended battery life. The segment's growth is further supported by innovations in separator materials, including ceramic-coated and composite separators that provide better safety features and thermal management. The development of thinner yet more durable separator materials is also contributing to the segment's expansion, as these innovations help increase energy density while maintaining structural integrity and safety standards in electric commercial vehicle batteries.
Remaining Segments in Component Market
The anode and electrolyte segments play vital complementary roles in the German electric commercial vehicle battery pack market. The anode segment continues to evolve with the introduction of silicon-based materials and advanced carbon compositions, offering improved energy storage capabilities and faster charging times. Meanwhile, the electrolyte segment focuses on developing advanced formulations that enhance battery performance across various operating conditions. Both segments are witnessing significant technological advancements, with manufacturers exploring novel materials and compositions to improve overall battery efficiency. These components work in synergy with cathodes and separators to create more efficient and reliable battery systems for electric commercial vehicles, contributing to the market's overall growth and technological advancement.
Segment Analysis: Material Type
Natural Graphite Segment in German Electric Commercial Vehicle Battery Pack Market
Natural graphite has emerged as the dominant material type in the German electric commercial vehicle battery pack market, commanding approximately 34% market share in 2024. This material's prominence can be attributed to its superior energy density, cost-effectiveness, and sustainable characteristics compared to other battery materials. The segment is also experiencing robust growth, projected to expand at nearly 28% through 2024-2029, driven by technological advancements in graphite processing and purification techniques. The increasing focus on sustainable and environmentally friendly battery materials has further boosted the adoption of natural graphite in commercial electric vehicle batteries. Additionally, the material's excellent conductivity properties, longer cycle life, and improved thermal stability have made it a preferred choice among battery manufacturers in Germany. The segment's growth is further supported by the expanding electric commercial vehicle market and the establishment of local battery production facilities that prioritize natural graphite as their primary anode material.
Remaining Segments in Material Type
The German electric commercial vehicle battery pack market encompasses several other important material types, including cobalt, lithium, and manganese, each playing crucial roles in battery performance and functionality. Cobalt remains essential for providing structural stability and high energy density in battery cathodes, though manufacturers are working to reduce its content due to sustainability concerns. Lithium continues to be fundamental as the primary charge carrier in battery chemistry, with ongoing research focused on improving its efficiency and reducing costs. Manganese has gained attention as a more sustainable and cost-effective alternative in battery cathodes, particularly in newer battery chemistries. These materials complement each other in various battery compositions, with manufacturers continuously optimizing their ratios to achieve the best balance of performance, cost, and sustainability. The development of new battery chemistries and advanced material processing techniques continues to influence the evolution of these material segments in the market.
Competitive Landscape
Top Companies in Germany Electric Commercial Vehicle Battery Pack Market
The German commercial vehicle battery pack market features prominent players like SAIC Volkswagen Power Battery, Akasol AG, CATL, BYD Company, and NorthVolt AB leading the industry. These companies are actively pursuing product innovation through the development of advanced battery chemistries, including NMC, NCA, and LFP technologies, to enhance energy density and performance. Operational agility is demonstrated through strategic manufacturing facility expansions and the establishment of regional production hubs to meet growing demand. Companies are forming strategic partnerships with automotive manufacturers and investing in research and development to improve battery technology and increase production capacity. Market leaders are also focusing on vertical integration, from cell production to battery pack manufacturing, while expanding their presence through new gigafactories and production facilities across Germany and Europe.
Market Dominated by Global Battery Specialists
The German electric commercial vehicle battery pack market exhibits a consolidated structure with a mix of global battery specialists and automotive conglomerates. Major international players, particularly from Asia, have established strong footholds through strategic partnerships with German automotive manufacturers and investments in local production facilities. The market is characterized by the presence of both established battery manufacturers with decades of experience and newer specialized companies focused solely on electric vehicle battery technology. This dynamic has created a competitive environment where traditional battery makers compete with innovative startups and automotive industry veterans.
The market has witnessed significant consolidation through strategic acquisitions and joint ventures, as exemplified by BorgWarner's acquisition of Akasol and the formation of Automotive Cells Company (ACC) through collaboration between Stellantis, Mercedes-Benz, and TotalEnergies. Companies are increasingly pursuing vertical integration strategies to control the entire value chain, from raw material sourcing to final battery pack assembly. This trend towards consolidation is driven by the need to achieve economies of scale, secure supply chains, and maintain technological competitiveness in a rapidly evolving market.
Innovation and Integration Drive Future Success
For incumbent players to maintain and increase their market share, focus must be placed on continuous technological innovation and cost optimization. Companies need to invest in next-generation battery technologies, such as solid-state batteries and advanced thermal management systems, while simultaneously improving manufacturing efficiency to reduce costs. Building strong relationships with automotive manufacturers through long-term supply agreements and joint development projects is crucial. Additionally, establishing robust recycling programs and sustainable production practices will become increasingly important as environmental regulations tighten and end-users demand more sustainable solutions.
Contenders looking to gain ground in the market must differentiate themselves through specialized solutions and niche applications while building strategic partnerships to access established distribution networks. Success factors include developing innovative battery management systems, focusing on specific vehicle segments or applications, and offering flexible, customizable solutions to meet diverse customer needs. Companies must also consider the increasing importance of localization, both in terms of production and supply chain, to meet regulatory requirements and reduce dependence on international suppliers. The ability to adapt to evolving regulations, particularly regarding battery safety and recycling, will be crucial for long-term success in the market. The growing trend of commercial vehicle electrification is also a key area where companies can innovate and expand their market presence.
Germany Electric Commercial Vehicle Battery Pack Industry Leaders
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Akasol AG
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BYD Company Ltd.
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Contemporary Amperex Technology Co. Ltd. (CATL)
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NorthVolt AB
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SAIC Volkswagen Power Battery Co. Ltd.
- *Disclaimer: Major Players sorted in no particular order
Germany Electric Commercial Vehicle Battery Pack Market Report Scope
Bus, LCV, M&HDT are covered as segments by Body Type. 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.| Bus |
| LCV |
| M&HDT |
| 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 |
| Body Type | Bus |
| LCV | |
| M&HDT | |
| 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, LCV (light commercial vehicle), M&HDT (medium & heavy duty trucks)and 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 2
- 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
