Urja Daily
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
No Result
View All Result
Urja Daily
No Result
View All Result
Home Editor's Pick Market Research

EV Battery Market Will Reach USD 302610 Million By 2028

Urja Daily by Urja Daily
July 22, 2022
in Market Research
Reading Time: 3 mins read
0
EV Battery
Share on FacebookShare on TwitterShare on Linkedin

BANGALORE, India : Electric Vehicle Battery Market is segmented by Type – Lead-acid Batteries, Lithium Battery, Others, by Application – BEV, HEV, Global Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Hybrid & Alternative Vehicles Category.

The global Electric Vehicle Battery market size is estimated to be worth USD 56690 million in 2022 and is forecast to be a readjusted size of USD 302610 million by 2028 with a CAGR of 32.2% during the forecast period.

RELATED POSTS

Regional Insights on the Expanding Battery Production Machine Market

Solar-Powered Cold Storage Market to Reach USD 355.74 Billion by 2034, Growing at 10.9% CAGR

Major Factors Driving the Growth of the EV Battery Market are

Increasing demand for electric vehicles, improvement in battery technology, supportive government policies, and transition of rental fleets to EVs will fuel the growth of the market during the forecast period.

Trends Influencing the Global EV Battery Market

The effects of climate change along with alarming pollution levels in major cities have increased the demand for fuel-efficient vehicles. Rising petrol and diesel prices have shifted consumer demand toward electric vehicles. People are preferring electric-powered vehicles for travel which has given rise to huge order supplies. These factors will in turn drive the growth of the EV battery market during the forecast period. 

Battery companies and automakers are investing resources into developing cheaper, lighter, and denser batteries. Electric vehicle battery systems provide fewer emissions at lower costs than heavier or larger engines. For instance, lithium-ion batteries are compact and have higher energy densities. A full charge takes place in less than 2 to 3 hours with fast charging technology. This will drive the growth of the EV battery market in the coming years.

Government authorities around the world are investing funds into research and development projects for reducing carbon dioxide emissions from commercial vehicles. Efforts are on to decarbonize the transportation sector. For example, rental car fleets are transitioning toward EVs. Drivers are opting for electrified ride-sharing vehicles due to purchase subsidies and lower maintenance costs. This will positively impact the EV battery market during the forecast period.

Several local, state, and federal government organizations have introduced pro-EV policies. These include purchase incentives, fee reductions, competitive tenders, and green public procurement programs. Other initiatives involve preferential EV rates, direct support for charging infrastructure, and installing EV charging points for multifamily dwellings. Such factors will boost the growth of the EV battery market in the forthcoming years. 

EV Battery Market Share Analysis

Based on application, the HEV segment is expected to dominate in the EV battery market share as it utilizes electric drive technology that increases fuel efficiency and reduces reliance on charging stations. They are cheaper. On the other hand, the BEV segment will grow at the highest CAGR as they run fully on rechargeable battery packs and are the major consumers of EV batteries. 

Based on battery type, the lithium-ion segment will maintain the lead as it is lightweight and has a high energy density making it suitable for use in all types of electric vehicles. 

  • Based on region, Asia-Pacific will witness considerable growth due to rising demand for EVs in countries like China, India, and Japan owing to the shift toward clean energy sources. It is the top producer and consumer of EV batteries.
Tags: BatteryBEVelectric vehicleHEVlead-acid batterieslithium battery
ShareTweetShare
Urja Daily

Urja Daily

Related Posts

Battery Production Machine Market

Regional Insights on the Expanding Battery Production Machine Market

by Palak
July 17, 2025
0

As the global demand for electric vehicles (EVs), consumer electronics, and renewable energy storage surges, the Battery Production Machine Market is experiencing...

Solar-Powered Cold Storage Market

Solar-Powered Cold Storage Market to Reach USD 355.74 Billion by 2034, Growing at 10.9% CAGR

by Palak
July 16, 2025
0

With rising concerns over food waste, energy costs, and climate change, solar-powered cold storage is emerging as a transformative solution....

Smart Homes

The Future of Smart Homes: Voice Tech, IoT, and Emerging Innovations

by Palak
July 10, 2025
0

Smart homes have swiftly evolved from luxury novelties into everyday essentials. What started with simple automated lighting has now grown...

EV Battery Market

Leading the Charge: Top 10 EV Battery Giants of 2025

by Palak
July 9, 2025
0

As the global transition toward sustainable transportation accelerates, the Electric Vehicle Battery Market has emerged as a cornerstone of innovation and investment....

Carbon FootPrint

Three Breakthrough Extraction Technologies Unlock High-Value Uses for Lignin

by Palak
July 9, 2025
0

In the drive to decarbonize chemical production, some of the most promising solutions come from unexpected places. Lignin, once largely...

Next Post
Global Power & Energy Decarbonization Technology

Global Power & Energy Decarbonization Technology Innovation Growth Opportunities

Pivot Energy

Pivot Energy announced start of construction of new community solar projects

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Wastewater treatment plants

Turn Up the Heat Next Winter with Better Biogas Production!

July 24, 2025
PwC India

PwC India Opens Sixth NCR Office with New Gurugram Facility

July 24, 2025

MOST VIEWED

  • Hydrom

    Hydrom and Thyssenkrupp Nucera Partner for Green Hydrogen Projects in Oman

    0 shares
    Share 0 Tweet 0
  • SFC India Selected Dassault Systèmes for Indigenization and Digital Transformation of Wastewater Treatment Plants

    0 shares
    Share 0 Tweet 0
  • Juniper Green Energy Secures 1 GW Solar Module Deal with First Solar

    0 shares
    Share 0 Tweet 0
  • PGCIL Wins ISTS Project for Renewable Energy Integration in Karnataka

    0 shares
    Share 0 Tweet 0

Turn Up the Heat Next Winter with Better Biogas Production!

PwC India Opens Sixth NCR Office with New Gurugram Facility

Is the World Ready for Driverless Cars? Consumer Sentiment and Self-Driving Cars Market Potential

STMicroelectronics Reports 2025 Second Quarter Financial Results

Key Hurdles Slowing Electric Cargo Bike Adoption

Sharika Enterprises to Automate BMM Ispat Power with SCADA

Latest Magazine

© 2016 – 2025 TechZone Print Media | All Rights Reserved

  • About Us
  • Contact Us
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe

© 2016 - 2025 TechZone Print Media | All Rights Reserved