Hybrid Electric Vehicle Battery Market Size & Share Analysis - Growth, Trends, Forecasts (2025 - 2030)

The Report Covers Hybrid Electric Vehicle Battery Market Size & Share and It is Segment by Battery Type (Lithium-Ion Battery, Lead-Acid Battery, Sodium-Ion Battery, and Others) and Geography (North America, South America, Europe, Asia-Pacific, and Middle-East and Africa). The Report Offers the Market Size and Forecasts in Revenue (USD) for all the Above Segments.

Hybrid Electric Vehicle Battery Market Size & Share Analysis - Growth, Trends, Forecasts (2025 - 2030)

Hybrid Electric Vehicle Battery Market Size

Hybrid Electric Vehicle Battery Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 11.09 Billion
Market Size (2030) USD 28.64 Billion
CAGR (2025 - 2030) 20.90 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Medium

Major Players

Hybrid Electric Vehicle Battery Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Hybrid Electric Vehicle Battery Market Analysis

The Hybrid Electric Vehicle Battery Market size is estimated at USD 11.09 billion in 2025, and is expected to reach USD 28.64 billion by 2030, at a CAGR of 20.9% during the forecast period (2025-2030).

  • Over the medium term, rising adoption of electric vehicles (EV) and declining lithium-ion battery prices are expected to drive the demand for hybrid electric vehicle batteries during the forecast period.
  • On the other hand, the lack of raw material reserves can significantly restrain the growth of the hybrid electric vehicle battery market.
  • Nevertheless, technological advancements in battery materials like higher energy density, faster charging times, improved safety, and longer lifespan are expected to create significant opportunities for hybrid electric vehicle battery market players in the near future.
  • Asia Pacific is the fastest-growing region in the global hybrid electric vehicle battery market during the forecast period due to the rising adoption of electric vehicle.

Hybrid Electric Vehicle Battery Industry Overview

The hybrid electric vehicle battery market is semi-fragmented. Some key players (not in particular order) are BYD Company Ltd, Duracell Inc., Exide Industries Ltd, EnerSys, and Panasonic Holdings Corporation, among others.

Hybrid Electric Vehicle Battery Market Leaders

  1. BYD Company Ltd

  2. Duracell Inc.

  3. Exide Industries Ltd

  4. Panasonic Holdings Corporation

  5. EnerSys

  6. *Disclaimer: Major Players sorted in no particular order
Hybrid Electric Vehicle Battery Market Concentration
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Hybrid Electric Vehicle Battery Market News

  • In February 2024, ReElement Technologies made a memorandum of understanding with Afrivolt to support the development of Africa’s regional and global lithium-ion battery supply chains. As per the agreement, both companies will work together to establish a comprehensive closed-loop lithium battery and electric vehicle manufacturing ecosystem within Africa.
  • In January 2024, Northvolt, a Swedish lithium-ion battery manufacturer, received EU approval for a substantial EUR 902 million (USD 986.43 million) German state aid package to build an electric vehicle (EV) battery production plant in Heide, Germany. The approval supports Germany and the wider EU in achieving net-zero targets.

Hybrid Electric Vehicle Battery Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD, till 2029
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.1.1 The Increasing Electric Vehicle (EV) Production
    • 4.5.1.2 Declining Lithium-ion Battery Prices
    • 4.5.2 Restraints
    • 4.5.2.1 Lack of Raw Material Reserves
  • 4.6 Supply Chain Analysis
  • 4.7 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes Products and Services
    • 4.7.5 Intensity of Competitive Rivalry
  • 4.8 Investment Analysis

5. MARKET SEGMENTATION

  • 5.1 Battery Type
    • 5.1.1 Lithium-ion Battery
    • 5.1.2 Lead-Acid Battery
    • 5.1.3 Sodium-ion Battery
    • 5.1.4 Others
  • 5.2 Geography [Market Size and Demand Forecast till 2029 (for regions only)]
    • 5.2.1 North America
    • 5.2.1.1 United States
    • 5.2.1.2 Canada
    • 5.2.1.3 Rest of North America
    • 5.2.2 Europe
    • 5.2.2.1 Germany
    • 5.2.2.2 France
    • 5.2.2.3 United Kingdom
    • 5.2.2.4 Italy
    • 5.2.2.5 Spain
    • 5.2.2.6 NORDIC
    • 5.2.2.7 Russia
    • 5.2.2.8 Turkey
    • 5.2.2.9 Rest of Europe
    • 5.2.3 Asia-Pacific
    • 5.2.3.1 China
    • 5.2.3.2 India
    • 5.2.3.3 Australia
    • 5.2.3.4 Japan
    • 5.2.3.5 South Korea
    • 5.2.3.6 Malaysia
    • 5.2.3.7 Thailand
    • 5.2.3.8 Indonesia
    • 5.2.3.9 Vietnam
    • 5.2.3.10 Rest of Asia-Pacific
    • 5.2.4 Middle East and Africa
    • 5.2.4.1 Saudi Arabia
    • 5.2.4.2 United Arab Emirates
    • 5.2.4.3 Nigeria
    • 5.2.4.4 Egypt
    • 5.2.4.5 Qatar
    • 5.2.4.6 South Africa
    • 5.2.4.7 Rest of Middle East and Africa
    • 5.2.5 South America
    • 5.2.5.1 Brazil
    • 5.2.5.2 Argentina
    • 5.2.5.3 Colombia
    • 5.2.5.4 Rest of South America

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted & SWOT Analysis for Leading Players
  • 6.3 Company Profiles
    • 6.3.1 BYD Company Ltd
    • 6.3.2 Duracell Inc.
    • 6.3.3 EnerSys
    • 6.3.4 Panasonic Holdings Corporation
    • 6.3.5 Energizer
    • 6.3.6 Exide Industries Ltd
    • 6.3.7 Saft Groupe SA
    • 6.3.8 AMTE Power
    • 6.3.9 Amperex Technology Co. Limited
    • 6.3.10 Gotion High tech Co Ltd
  • *List Not Exhaustive
  • 6.4 List of Other Prominent Companies
  • 6.5 Market Ranking/ Share Analysis

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Technological Advancements in Battery Materials
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Hybrid Electric Vehicle Battery Industry Segmentation

A Hybrid Electric Vehicle (HEV) battery is a rechargeable energy storage system that powers the electric motor of a hybrid vehicle. HEVs combine a conventional internal combustion engine (ICE) with an electric propulsion system. The battery in an HEV is crucial for capturing and storing energy, particularly during regenerative braking, and for providing additional power during acceleration.

The Global hybrid electric vehicle battery market is Segmented by Battery Type and Geography. By battery type, the market is segmented into Lithium-Ion Battery, Lead-Acid Battery, Sodium-Ion Battery, and Others. The report also covers the market size and forecasts for the global hybrid electric vehicle battery market across major regions. The Report Offers the Market Size and Forecasts in Revenue (USD) for all the Above.

Battery Type Lithium-ion Battery
Lead-Acid Battery
Sodium-ion Battery
Others
Geography [Market Size and Demand Forecast till 2029 (for regions only)] North America United States
Canada
Rest of North America
Europe Germany
France
United Kingdom
Italy
Spain
NORDIC
Russia
Turkey
Rest of Europe
Asia-Pacific China
India
Australia
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
Middle East and Africa Saudi Arabia
United Arab Emirates
Nigeria
Egypt
Qatar
South Africa
Rest of Middle East and Africa
South America Brazil
Argentina
Colombia
Rest of South America
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Hybrid Electric Vehicle Battery Market Research FAQs

How big is the Hybrid Electric Vehicle Battery Market?

The Hybrid Electric Vehicle Battery Market size is expected to reach USD 11.09 billion in 2025 and grow at a CAGR of 20.90% to reach USD 28.64 billion by 2030.

What is the current Hybrid Electric Vehicle Battery Market size?

In 2025, the Hybrid Electric Vehicle Battery Market size is expected to reach USD 11.09 billion.

Who are the key players in Hybrid Electric Vehicle Battery Market?

BYD Company Ltd, Duracell Inc., Exide Industries Ltd, Panasonic Holdings Corporation and EnerSys are the major companies operating in the Hybrid Electric Vehicle Battery Market.

Which is the fastest growing region in Hybrid Electric Vehicle Battery Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Hybrid Electric Vehicle Battery Market?

In 2025, the Europe accounts for the largest market share in Hybrid Electric Vehicle Battery Market.

What years does this Hybrid Electric Vehicle Battery Market cover, and what was the market size in 2024?

In 2024, the Hybrid Electric Vehicle Battery Market size was estimated at USD 8.77 billion. The report covers the Hybrid Electric Vehicle Battery Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Hybrid Electric Vehicle Battery Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Hybrid Electric Vehicle Battery Industry Report

Statistics for the 2025 Hybrid Electric Vehicle Battery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hybrid Electric Vehicle Battery analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.