The global electric vehicle battery market stood at a value of around USD 76.72 Billion in 2025. The market is further expected to grow at a CAGR of 19.20% in the forecast period of 2026-2035 to attain a value of USD 444.29 Billion by 2035.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
19.2%
Value in USD Billion
2026-2035
*this image is indicative*
Based on battery type, the lithium-ion segment is predicted to hold a significant market share in the electric vehicle battery industry. This growth can be attributed to the heightened utilisation of lithium-ion in the production of batteries, increasingly utilised for the propulsion of electric vehicles. It is because of the high energy per unit mass relative to other electrical energy storage systems. In addition, they also have a high power-to-weight ratio, suitable temperature, and power efficiency and low self-discharge. Moreover, these batteries can also be fully recycled. These factors are predicted to aid the market growth in the coming years.
The Asia Pacific is estimated to hold a significant share of the electric vehicle battery industry in the forecast period. This growth can be attributed to the increased demand for electric vehicles in the region, especially in China, owing to reduced labour and maintenance expenditure. The rising disposable incomes and the improved living standards are also aiding the market growth. In addition, the rapid urbanisation with renewed purchasing parity is also significantly contributing to the industry growth. Moreover, the rapid development of environment-oriented policies brought forward to cut down the carbon emissions in the region is also aiding the market growth.
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A battery is a secondary power source. An electric vehicle battery is used to power battery-operated electric vehicles using the chemical energy stored in rechargeable battery packs; thus, it does not require any combustion to start the engine. The batteries are rechargeable and usually made of lithium-ion, owing to their high energy per unit mass relative to other electrical energy storage systems. They are primarily designed for high kilowatt-hour capacity. These batteries are increasingly in demand with the advent of electric vehicles.
Market Breakup by Battery Type
Market Breakup by Vehicle Type
Market Breakup by Propulsion Type
Market Breakup by Region
According to the World Bank, pollution is the number one cause of cardiovascular diseases, with 9 million deaths yearly caused as a direct result of air, water, and land pollution. In addition, air pollution alone accounts for health damage costing USD 5.7 trillion, increasing the economic burden due to premature mortality and morbidity. As a result, governments are devising ways to reduce pollution levels and global carbon emissions in order to counter the issue of global warming. This is resulting in innovations such as electric vehicles that utilises sustainable and renewable energy, posing as an alternative to conventional crude oil and fuels. This is predicted to spearhead the demand for electric vehicle batteries worldwide. Furthermore, the rapid technological advancements are also expected to aid the market growth in the coming years. For instance, StoreDot, an Israeli manufacturer of fast-charging batteries for electric vehicles, recently launched the world's first silicon-dominant battery prototype, which is capable of getting recharged in ten minutes. Such developments are anticipated to propel the market growth in the coming years.
The report gives a detailed analysis of the following key players in the global electric vehicle battery market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
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In 2025, the global electric vehicle battery market attained a value of nearly USD 76.72 Billion.
The market is projected to grow at a CAGR of 19.20% between 2026 and 2035.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach USD 444.29 Billion by 2035.
The major drivers of the market include the increasing demand for electric vehicles, rapid technological advancements, and the rising investments in the research and development of electric vehicle battery technology by leading manufacturers.
The key trends of the market include the increasing environmental concerns and the rising pollution levels.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant battery types in the market include lithium-ion, lead-acid, and nickel-metal-hydride, among others.
Passenger car, commercial vehicle, and two wheeler are the leading vehicle types in the market.
The major propulsion types include battery electric vehicle (BEV), plug in hybrid electric vehicle (PHEV), and hybrid electric vehicle (HEV).
The key players in the global electric vehicle battery market are BYD Company Ltd., Samsung SDI Co. Ltd., Contemporary Amperex Technology Co., Limited., Mitsubishi Electric Corporation, and Panasonic Corporation, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Battery Type |
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| Breakup by Vehicle Type |
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| Breakup by Propulsion Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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