UK 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 6.23 Million |
| Market Size (2029) | USD 10.06 Million |
| Growth Rate (2025 - 2029) | 12.69% 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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UK Electric Bus Battery Pack Market Analysis by Mordor Intelligence
The UK Electric Bus Battery Pack Market size is estimated at 6.23 million USD in 2025, and is expected to reach 10.06 million USD by 2029, growing at a CAGR of 12.69% during the forecast period (2025-2029).
The UK electric bus battery pack industry is undergoing a significant transformation driven by technological advancements and environmental imperatives. Battery technology continues to evolve rapidly, with energy density expected to increase from the current 200 Wh/kg to an impressive 350-400 Wh/kg by 2030, according to BloombergNEF projections. This advancement in energy density is enabling manufacturers to develop more efficient and powerful electric bus battery pack solutions. The industry is witnessing substantial improvements in charging infrastructure, with major cities implementing dedicated charging networks for public transportation. These developments are complemented by innovations in battery management systems and thermal regulation technologies, which are crucial for optimizing battery performance and longevity in varying weather conditions.
The market landscape is characterized by increasing adoption rates and improving economic viability. Electric buses have gained significant traction in public transportation fleets, with battery electric buses accounting for 40% of new bus registrations in 2022. The current generation of electric buses demonstrates impressive operational capabilities, with average ranges between 180 and 350 kilometers on a single charge, making them suitable for most urban transit routes. The industry is experiencing a notable shift in cost dynamics, with the total cost of ownership for electric buses projected to become lower than diesel buses by 2025, even without government subsidies, according to Bloomberg New Energy Finance.
Manufacturing and supply chain developments are reshaping the industry's structure. British manufacturers are expanding their production capabilities, with several companies investing in domestic battery production facilities. The supply chain is becoming more localized, with increased focus on developing robust domestic manufacturing capabilities to reduce dependence on international suppliers. Industry stakeholders are implementing advanced manufacturing techniques and quality control measures to ensure the production of high-performance electric bus battery pack solutions that meet stringent safety and reliability standards.
The market faces several challenges but maintains a positive outlook for future growth. While the initial cost remains a significant consideration, with electric buses currently costing approximately twice as much as their diesel counterparts (EUR 400,000 versus EUR 200,000), this price differential is expected to decrease as production volumes increase and manufacturing processes become more efficient. The industry is witnessing increased collaboration between battery manufacturers, bus manufacturers, and public transport operators to optimize electric bus battery pack designs and improve overall system efficiency. These partnerships are crucial for addressing technical challenges and accelerating the development of next-generation battery solutions that offer improved performance, longer lifespan, and enhanced safety features.
UK Electric Bus Battery Pack Market Trends and Insights
THE LEADING PLAYERS SHAPING THE ELECTRIC VEHICLE MARKET IN THE UNITED KINGDOM ARE TOYOTA GROUP, TESLA, KIA, HYUNDAI, AND BMW
- The electric vehicle battery pack market in the United Kingdom is competitive. In 2022, five companies dominated the market, holding over 45% of the market share. These front-runners are Toyota Group, Tesla, Kia, Hyundai, and BMW. The Toyota Group leads the pack, boasting about 16.86% market share, establishing itself as the top seller of electric vehicles. With its diverse product range, extensive service network, and robust brand reputation, Toyota continues to strengthen its market position.
- Tesla, capturing approximately 9.57% of the UK electric vehicle battery pack market, stands as the second-largest electric vehicle seller in the country. The company's innovative strategies and its broad range of solely electric cars solidify its stance. Following closely, Kia takes the third spot with about 7.53% of the market share in the UK electric vehicle battery pack market. With a varied product lineup catering to different customer segments, Kia benefits from a well-structured supply and distribution chain.
- In fourth place, Hyundai claims around 7.47% of the market share in the UK electric vehicle market. Its diverse offerings appeal to both mid-range and premium customers, resulting in a loyal customer base. BMW is in the fifth position, holding a market share of approximately 6.66%. Other notable players in the UK electric vehicle market include Volkswagen, Honda, MG, Renault, and Audi.
EV SALES IN THE UNITED KINGDOM ARE LED BY TESLA AND TOYOTA, WITH THE HIGHEST DEMAND FOR BATTERY PACKS
- The demand for electric vehicles in the UK electric vehicle battery pack market has surged in recent years, resulting in boosting the demand for batteries. Numerous brands and models populate the market in the United Kingdom. In 2022, the top five contenders in the UK electric vehicle battery pack market were the Tesla Model Y, the Toyota Vitz (Yaris), the Tesla Model 3, the Toyota Corolla, and the Toyota CH-R. Leading the chart, the Tesla Model Y sold 35,551 units, with its extended range, spacious seating, and generous cargo space making it a consumer favorite.
- Toyota's Vitz, better known as Yaris, was in the second spot in the UK electric vehicle battery pack market with 22,051 sales. Its hybrid powertrain and affordability cater to those seeking a compact electric option. Close behind, the Tesla Model 3 secured third place in the electric vehicle battery pack market in the country, logging 19,071 sales. Offered in both rear-wheel drive and performance trims, its robust performance captivates many customers.
- Fourth in line, the Toyota Corolla registered 18,594 sales in the United Kingdom. Its hybrid powertrain and competitive pricing continue to lure customers. In the fifth position, the Toyota CH-R marked 17,440 sales across the United Kingdom. Other significant players in the UK electric vehicle battery pack market include the Toyota Yaris Cross, Hyundai Tucson, Kia Niro, and Honda Fit.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- POLICIES AND INCENTIVES BY THE UK GOVERNMENT ARE DRIVING A SURGE IN ELECTRIC VEHICLE SALES
- DECLINING LITHIUM-ION BATTERY PRICES ARE PROPELLING ELECTRIC VEHICLE ADOPTION IN THE UNITED KINGDOM
- FROM 2017 THROUGH 2022, UK BATTERY PRICES FELL STEADILY DUE TO TECHNOLOGICAL ADVANCES, ECONOMIES OF SCALE, AND COMPETITION IN THE MARKET
- INTERNATIONAL COMPANIES ARE DRIVING ELECTRIFICATION IN THE UNITED KINGDOM WITH NEW EV MODELS, EXPANDING THE ELECTRIC VEHICLE MARKET
- THE UK ELECTRIC VEHICLE BATTERY PACK MARKET IS CHARACTERIZED BY THE DOMINANCE OF NMC BATTERIES AND GROWING DEMAND FOR NCA AND NCM CHEMISTRIES
- POTENTIAL BAN ON INTERNAL COMBUSTION ENGINES IN THE UNITED KINGDOM IS DRIVING ELECTRIC VEHICLE ADOPTION AND DEMAND FOR BATTERY MATERIALS
- IMPROVEMENTS IN BATTERY TECHNOLOGY ARE A DRIVING FORCE BEHIND THE INCREASING POPULARITY OF ELECTRIC VEHICLES IN THE UNITED KINGDOM
Segment Analysis: Propulsion Type
BEV Segment in UK Electric Bus Battery Pack Market
Battery Electric Vehicles (BEV) have emerged as the dominant force in the UK electric bus battery pack market, commanding approximately 100% of the market share in 2024. This complete market dominance can be attributed to several factors, including the UK government's aggressive push towards zero-emission public transportation and substantial investments in charging infrastructure. The segment's growth is further supported by major cities like London, Manchester, and Birmingham actively transitioning their public transport fleets to fully electric buses. Leading manufacturers are focusing exclusively on BEV technology, with companies like BYD and Alexander Dennis Limited (ADL) introducing advanced battery pack solutions specifically designed for the UK market. The superior performance, lower operational costs, and zero-emission benefits of BEV buses have made them the preferred choice for transport operators across the United Kingdom. Additionally, the segment benefits from improving battery technology, with enhanced energy density and faster charging capabilities making BEV buses increasingly practical for various route lengths and operational requirements.
BEV Segment Growth in UK Electric Bus Battery Pack Market
The BEV segment is demonstrating remarkable growth potential in the UK electric bus battery pack market, driven by technological advancements and supportive government policies. The segment is expected to maintain its strong growth trajectory with an anticipated growth rate of approximately 33% from 2024 to 2029. This robust growth is supported by the UK government's commitment to achieving net-zero emissions and the implementation of various incentive schemes for electric bus adoption. Transport authorities across the country are increasingly investing in BEV infrastructure, including the development of charging networks and depot modifications. The segment's growth is further accelerated by advancements in battery technology, leading to improved range capabilities and reduced charging times. Manufacturing companies are expanding their production capabilities within the UK, establishing local supply chains that are expected to reduce costs and improve accessibility of BEV battery packs. The increasing focus on sustainable urban mobility solutions and the growing awareness of environmental benefits continue to drive the adoption of BEV buses across the United Kingdom.
Segment Analysis: Battery Chemistry
NMC Segment in UK Electric Bus Battery Pack Market
The Nickel Manganese Cobalt (NMC) battery chemistry dominates the UK electric bus battery pack market, commanding approximately 64% market share in 2024. This significant market position can be attributed to NMC batteries' superior energy density, enhanced thermal stability, and longer cycle life compared to other chemistries. Major electric bus manufacturers in the UK have shown strong preference for NMC batteries due to their optimal balance of performance, safety, and cost-effectiveness. The segment's dominance is further strengthened by continuous technological advancements in NMC chemistry, leading to improved battery performance and reliability. Additionally, the established supply chain and manufacturing infrastructure for NMC batteries in the UK has contributed to their widespread adoption in the electric bus sector.
NCM Segment in UK Electric Bus Battery Pack Market
The Nickel Cobalt Manganese (NCM) battery chemistry segment is emerging as the fastest-growing segment in the UK electric bus battery pack market, with a projected growth rate of approximately 35% from 2024 to 2029. This remarkable growth trajectory is driven by several factors, including NCM batteries' higher energy density and improved thermal management capabilities. The segment's expansion is supported by significant investments in research and development, focusing on enhancing NCM battery performance and reducing production costs. Electric bus manufacturers are increasingly adopting NCM batteries due to their superior power output and fast-charging capabilities, making them particularly suitable for urban transit applications. The growing emphasis on sustainable transportation solutions and government initiatives promoting zero-emission vehicles are further accelerating the adoption of NCM battery technology in the UK electric bus sector.
Remaining Segments in Battery Chemistry
The UK electric bus battery pack market features several other significant battery chemistries, including Lithium Iron Phosphate (LFP) and Nickel Cobalt Aluminum (NCA). LFP batteries are valued for their enhanced safety features and longer lifecycle, making them particularly attractive for operators prioritizing reliability and durability. NCA batteries have carved out their niche in the market by offering high energy density and improved thermal stability. Each of these chemistries serves specific market needs, with LFP being preferred for its cost-effectiveness and safety features, while NCA is chosen for applications requiring higher energy density and performance. The diversity of battery chemistries in the market ensures that bus manufacturers and operators can select the most suitable technology based on their specific operational requirements and performance needs.
Segment Analysis: Capacity
40 kWh to 80 kWh Segment in UK Electric Bus Battery Pack Market
The 40 kWh to 80 kWh segment dominates the UK electric bus battery pack market, commanding approximately 72% market share in 2024. This segment's prominence can be attributed to its optimal balance between range requirements and cost efficiency for urban bus operations. The capacity range is particularly well-suited for typical city bus routes, offering sufficient power for daily operations while maintaining reasonable battery costs and vehicle weight. Major bus manufacturers in the UK have standardized their electric bus models around this capacity range, as it provides adequate power for most urban transit requirements while optimizing operational costs. The segment's dominance is further reinforced by the extensive charging infrastructure development in urban areas, which is well-aligned with this battery capacity range. Additionally, government initiatives and urban transit authorities' preferences for this capacity range have contributed to its market leadership, as it offers the best compromise between performance, range, and economic viability.
Above 80 kWh Segment in UK Electric Bus Battery Pack Market
The Above 80 kWh segment is emerging as the fastest-growing category in the UK electric bus battery pack market, with significant growth potential through 2024-2029. This rapid growth is driven by increasing demand for long-range electric buses, particularly for intercity and suburban routes where extended operational range is crucial. The segment's expansion is supported by technological advancements in battery chemistry and thermal management systems, which have improved the efficiency and reliability of high-capacity battery packs. Transit authorities are increasingly investing in higher capacity batteries to future-proof their fleets and reduce charging frequency requirements. The growing focus on electrifying longer bus routes and the need for operational flexibility has made this segment particularly attractive. Additionally, improvements in battery technology have helped address previous concerns about weight and cost associated with higher capacity batteries, making them more viable for widespread adoption.
Remaining Segments in Capacity
The remaining capacity segments, including 15 kWh to 40 kWh and Less than 15 kWh, continue to play important roles in specific applications within the UK electric bus battery pack market. The 15 kWh to 40 kWh segment serves the needs of smaller buses and shorter urban routes, offering a lightweight and cost-effective solution for specific operational requirements. The Less than 15 kWh segment caters to specialized applications such as shuttle services and controlled environment operations. These segments provide options for operators with specific range requirements or weight restrictions, contributing to the market's diversity. The availability of these various capacity options ensures that bus operators can select battery packs that best match their specific operational needs, route characteristics, and charging infrastructure capabilities.
Segment Analysis: Method
Laser Segment in UK Electric Bus Battery Pack Market
The laser method has emerged as the dominant technology in the UK electric bus battery pack market, commanding approximately 70% of the market share in 2024. This advanced technique employs laser beams to precisely weld battery cells together, offering numerous advantages over traditional methods. The laser welding technology provides superior precision and control during the welding process, resulting in stronger and more reliable connections between battery cells. The segment's growth is driven by its ability to deliver enhanced energy efficiency, improved overall performance, and significant weight reduction in battery packs, aligning with the increasing demand for lightweight electric buses. The laser method's capability to maintain consistent weld quality, minimize heat-affected zones, and achieve higher production speeds has made it the preferred choice among manufacturers. Additionally, ongoing advancements in laser technology and manufacturing processes are expected to drive down the costs associated with laser welding, further strengthening its market position.
Wire Segment in UK Electric Bus Battery Pack Market
The wire method represents a traditional approach in the UK electric bus battery pack market, offering a reliable and cost-effective solution for battery pack manufacturing. This method utilizes welding wires to connect individual battery cells, providing manufacturers with a familiar and well-established production process. While the wire method may not offer the same level of precision as laser welding, it continues to serve specific market segments where cost considerations outweigh the need for advanced welding techniques. The technology remains relevant in applications where traditional welding methods meet the required performance specifications and quality standards. Manufacturers choosing the wire method benefit from lower initial equipment costs, simpler maintenance requirements, and easier access to replacement parts and consumables. The wire segment maintains its position in the market through continuous improvements in wire materials, welding techniques, and quality control measures.
Segment Analysis: Component
Cathode Segment in UK Electric Bus Battery Pack Market
The cathode segment has emerged as the dominant component in the UK electric bus battery pack market, commanding approximately 69% market share in 2024. This significant market position can be attributed to the crucial role cathodes play in determining battery performance, energy density, and overall efficiency. Major manufacturers are increasingly focusing on developing advanced cathode materials that offer higher energy density and improved stability. The segment's growth is further supported by innovations in cathode technology, including the development of new materials that enhance battery life and charging capabilities. Companies like Johnson Matthey and other key players are actively involved in developing proprietary cathode technologies that promise substantial improvements in energy density and cost reduction per kilowatt-hour. The demand for high-performance cathode materials continues to rise as electric bus manufacturers seek to improve range and charging efficiency.
Separator Segment in UK Electric Bus Battery Pack Market
The separator segment is experiencing remarkable growth in the UK electric bus battery pack market, projected to expand significantly from 2024 to 2029. This growth is driven by technological advancements in separator materials, including the development of thinner yet more durable designs with enhanced thermal stability. Manufacturers are focusing on innovative separator technologies that can withstand higher operating temperatures and pressure while maintaining optimal ion conductivity. The segment's expansion is further supported by the increasing emphasis on battery safety and performance optimization. Recent developments in separator technology include the introduction of ceramic-coated separators and advanced polymer-based materials that offer improved mechanical strength and thermal stability. The industry is also witnessing a shift towards sustainable and eco-friendly separator materials, addressing both performance and environmental concerns.
Remaining Segments in Component
The anode and electrolyte segments continue to play vital roles in the UK electric bus battery pack market. The anode segment is characterized by ongoing research and development in graphite-based materials and silicon composites, focusing on improving energy storage capacity and charging speeds. Manufacturers are exploring various anode materials to enhance battery performance and longevity. Meanwhile, the electrolyte segment is witnessing innovations in both liquid and solid-state technologies, with companies developing new formulations to improve battery safety and performance. These segments are essential in determining the overall efficiency and reliability of electric bus battery systems, with manufacturers continuously working on optimizing their properties to meet the evolving demands of the electric bus industry.
Segment Analysis: Material Type
Natural Graphite Segment in UK Electric Bus Battery Pack Market
Natural graphite has emerged as the dominant material type in the UK electric bus battery pack market, driven by its superior properties and cost-effectiveness. The material offers excellent electrical conductivity, thermal stability, and high energy density, making it ideal for electric bus battery applications. Natural graphite's particle size distribution ranging from 15 1⁄4m to 25 1⁄4m provides optimal performance characteristics. The material's high purity levels of approximately 99% carbon content and average porosity of 25% contribute to enhanced battery efficiency. Natural graphite's tap density of around 1.6 g/cm3 ensures consistent performance across various operating conditions. The material's intercalation capacity of approximately 330 mAh/g enables efficient energy storage capabilities. Manufacturers are increasingly adopting natural graphite due to its proven track record in improving battery life and performance. The material's thermal management properties and structural stability make it particularly suitable for the demanding requirements of electric bus operations.
Manganese Segment in UK Electric Bus Battery Pack Market
The manganese segment is experiencing remarkable growth in the UK electric bus battery pack market, driven by technological advancements and increasing demand for efficient battery solutions. Manganese-based battery materials demonstrate superior electrochemical performance with an average particle size of around 12 źm, enhancing overall battery efficiency. The material's high stability and energy storage capacity contribute significantly to battery pack performance. Manufacturers are investing heavily in research and development to optimize manganese-based battery technologies, focusing on improving energy density and charging capabilities. The material's thermal stability and safety characteristics make it increasingly attractive for electric bus applications. Recent developments in manufacturing processes have led to enhanced manganese material properties, resulting in improved battery life and performance. The growing focus on sustainable transportation solutions and government support for electric mobility continue to drive innovation in manganese-based battery technologies.
Remaining Segments in Material Type
The UK electric bus battery pack market encompasses several other significant material types, each contributing uniquely to battery performance. Cobalt remains crucial for providing high energy density and stability in battery chemistry, while lithium continues to be fundamental for ion mobility and charge storage. Nickel plays a vital role in enhancing battery capacity and reducing overall costs. Other materials, including various compounds and elements, contribute to specific aspects of battery performance such as conductivity, thermal management, and structural integrity. These materials are continuously being refined and optimized through research and development efforts to improve battery efficiency and durability. The combination of these materials in varying proportions allows manufacturers to achieve different performance characteristics suited to specific electric bus applications. The ongoing development of new material combinations and improvements in existing materials continues to drive innovation in the electric bus battery sector.
Competitive Landscape
Top Companies in UK Electric Bus Battery Pack Market
The UK electric bus battery pack market features established players like BYD Company, CATL, Samsung SDI, LG Energy Solution, and SK Innovation leading the industry through continuous innovation and strategic expansion. Companies are focusing on developing advanced electric bus components with improved energy density, charging speeds, and longevity while establishing local manufacturing facilities to strengthen their market presence. Strategic partnerships with automotive manufacturers and public transport operators have become crucial for market penetration, with companies investing in research and development to enhance their product portfolios. The industry witnesses frequent collaborations between battery manufacturers and technology providers to develop innovative solutions, while also expanding production capacities through new facility establishments and existing plant upgrades. Companies are increasingly emphasizing sustainable manufacturing practices and circular economy principles in their operations, while simultaneously working on cost optimization strategies to maintain competitive advantages.
Market Consolidation Drives Industry Growth Pattern
The UK electric bus battery pack market demonstrates a relatively consolidated structure, with global conglomerates dominating the landscape alongside emerging local specialists. Major international players leverage their extensive research capabilities and established supply chains to maintain market leadership, while domestic companies like Britishvolt and Hyperdrive Innovation are carving out niches through specialized offerings and local market knowledge. The market witnesses a mix of vertically integrated manufacturers and specialized battery producers, with larger companies often acquiring smaller innovative firms to expand their technological capabilities and market reach.
The industry is characterized by strategic mergers and acquisitions, as exemplified by Turntide Transport's acquisition of Hyperdrive Innovation, which aims to strengthen the northern powerhouse for bus electrification. Companies are increasingly focusing on vertical integration strategies to secure supply chains and reduce dependencies on external suppliers. The market structure encourages collaboration between established players and innovative startups, fostering technological advancement and market expansion through shared expertise and resources. International players are establishing local production facilities to better serve the UK market and comply with regional content requirements, while domestic companies are forming strategic alliances to enhance their competitive positions.
Innovation and Sustainability Drive Future Success
Success in the UK electric bus battery pack market increasingly depends on companies' ability to innovate while maintaining cost competitiveness and ensuring sustainable operations. Incumbent players must focus on developing next-generation battery technologies, including solid-state batteries and advanced chemical compositions, while simultaneously optimizing their production processes to reduce costs. Companies need to establish strong relationships with public transport authorities and bus manufacturers while investing in local production capabilities to ensure supply chain resilience. The ability to provide comprehensive after-sales support and battery management solutions will become increasingly important as the market matures and end-users demand more integrated services.
Market contenders can gain ground by focusing on specialized applications and niche market segments while building strategic partnerships with established players in the automotive industry. Companies must navigate evolving regulatory requirements regarding battery recycling and environmental standards, while also addressing concerns about raw material sourcing and supply chain sustainability. The development of innovative business models, including battery leasing and energy storage solutions, will become crucial for market success. Players must also invest in developing robust battery management systems and predictive maintenance capabilities to differentiate their offerings and build long-term customer relationships. The ability to adapt to changing market dynamics and maintain flexibility in product development and manufacturing processes will be essential for sustained success in this evolving market.
UK Electric Bus Battery Pack Industry Leaders
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BYD Company Ltd.
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Contemporary Amperex Technology Co. Ltd. (CATL)
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LG Energy Solution Ltd.
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Samsung SDI Co. Ltd.
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SK Innovation Co. Ltd.
- *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.
- July 2022: Britishvolt and H&T Battery Components have signed a Memorandum of Understanding (MoU) for the supply of battery can components for high-tech battery cells used in automotive applications.
- June 2022: POSCO Chemical, Korea, has entered into an agreement for battery materials with Britishvolt. On June 30, POSCO Chemical signed an MoU with Britishvolt to develop and supply battery materials.
UK 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
