GITNUX MARKETDATA REPORT 2024

Ev Battery Industry Statistics

The electric vehicle battery industry is projected to experience significant growth over the next decade, driven by the increasing demand for electric vehicles and advancements in battery technology.

With sources from: alliedmarketresearch.com, about.bnef.com, statista.com, cleantechnica.com and many more

Statistic 1

The global electric vehicle battery market size was valued at $23.2 billion in 2017.

Statistic 2

The EV battery market is expected to grow at a CAGR (Compound Annual Growth Rate) of approximately 16.0% from 2020 to 2027.

Statistic 3

Asia-Pacific region dominated the EV battery market with more than 45% market share in 2020.

Statistic 4

In 2020, Lithium-ion batteries accounted for a 99.9% of all electric vehicle batteries installed in passenger cars.

Statistic 5

The expected lifespan of an EV battery is between 10 to 15 years.

Statistic 6

Approximately 1.4 million EVs were sold in China in 2020, leading the world in EV sales.

Statistic 7

Panasonic is leading in the EV battery manufacturing market share with 25.3% in 2020.

Statistic 8

There were more than 10 million electric cars on the world’s roads in 2020.

Statistic 9

The cost of lithium-ion batteries has fallen by about 89% in the last decade.

Statistic 10

In 2020, Tesla sold two-thirds of the world's electric vehicle batteries by GWh.

Statistic 11

It's projected that by 2040, 500,000 tonnes of lithium, 2 million tonnes of cobalt, and 2.3 billion tonnes of copper will be needed for EV batteries.

Statistic 12

By 2027, the EV battery market is expected to reach $84.18 billion.

Statistic 13

In Europe, the EV market recorded a growth of 143% in 2020.

Statistic 14

The annual demand for vehicle batteries in the United States is expected to exceed 120 GWh by 2025.

Statistic 15

The United States is the second-largest market for electric vehicle sales, with about 328,000 units sold in 2020.

Statistic 16

By 2040, 59 % of all passenger vehicle sales and over 30 % of the global passenger vehicle fleet will be electric.

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In this post, we will explore key statistics and trends in the electric vehicle battery industry, shedding light on the market size, growth projections, regional dominance, technological developments, and environmental impacts. From the exponential rise in EV sales to the projected demands for raw materials, we will analyze the data shaping the future of electric mobility.

Statistic 1

"The global electric vehicle battery market size was valued at $23.2 billion in 2017."

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Statistic 2

"The EV battery market is expected to grow at a CAGR (Compound Annual Growth Rate) of approximately 16.0% from 2020 to 2027."

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Statistic 3

"Asia-Pacific region dominated the EV battery market with more than 45% market share in 2020."

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Statistic 4

"In 2020, Lithium-ion batteries accounted for a 99.9% of all electric vehicle batteries installed in passenger cars."

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Statistic 5

"The expected lifespan of an EV battery is between 10 to 15 years."

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Statistic 6

"Approximately 1.4 million EVs were sold in China in 2020, leading the world in EV sales."

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Statistic 7

"Panasonic is leading in the EV battery manufacturing market share with 25.3% in 2020."

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Statistic 8

"There were more than 10 million electric cars on the world’s roads in 2020."

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Statistic 9

"The cost of lithium-ion batteries has fallen by about 89% in the last decade."

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Statistic 10

"In 2020, Tesla sold two-thirds of the world's electric vehicle batteries by GWh."

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Statistic 11

"It's projected that by 2040, 500,000 tonnes of lithium, 2 million tonnes of cobalt, and 2.3 billion tonnes of copper will be needed for EV batteries."

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Statistic 12

"By 2027, the EV battery market is expected to reach $84.18 billion."

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Statistic 13

"In Europe, the EV market recorded a growth of 143% in 2020."

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Statistic 14

"The annual demand for vehicle batteries in the United States is expected to exceed 120 GWh by 2025."

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Statistic 15

"The United States is the second-largest market for electric vehicle sales, with about 328,000 units sold in 2020."

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Statistic 16

"By 2040, 59 % of all passenger vehicle sales and over 30 % of the global passenger vehicle fleet will be electric."

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Interpretation

The statistics presented paint a picture of a rapidly growing electric vehicle battery industry driven by increasing demand, technological advancements, and shifting market dynamics. The market size of EV batteries has seen significant growth, with projections suggesting a continuous upward trajectory. The dominance of lithium-ion batteries in the market underscores the importance of advancements in battery technology for the future of electric vehicles. Regional trends highlight the prominence of key markets like Asia-Pacific and China, while the evolving landscape presents opportunities for market leaders like Panasonic and Tesla. As the industry continues to expand, it will be crucial to address challenges such as resource availability and sustainability to ensure a sustainable future for electric vehicles.

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