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 Is Set To Reach US$ 347 Billion By 2033

Urja Daily by Urja Daily
June 3, 2023
in Market Research
Reading Time: 3 mins read
0
EV Battery
Share on FacebookShare on TwitterShare on Linkedin

As per a new Fact.MR analysis, the global electric vehicle (EV) battery market is projected to expand at a prolific CAGR of 18.5% and reach a valuation of US$ 347 billion by the end of 2033, up from US$ 63.55 billion in 2023.

A battery is an essential component of any electric vehicle (EV). A battery is a device that uses an electrochemical process to transform chemical energy into electric energy. In an electrical circuit, an electrochemical reaction happens when electrons move from one substance to another. A battery is usually made to meet all of the needs of the charging system needed by an electric vehicle. A typical EV battery pack is made up of blocks of 18 to 30 parallel cells connected in series to produce the required propulsion voltage.

RELATED POSTS

Key Factors Fueling Growth in the U.S. Data Center Construction Market

How the Alkaline Battery Market Is Powering Growth in Consumer Electronics?

  • Increased consumer awareness of the benefits of EVs, evolving lifestyles, rapid urbanization, and rising disposable income are anticipated to push the sales of electric vehicles, thereby driving the need for more EV batteries.
  • Deployment of electric vehicle batteries in passenger cars is expected to increase at a CAGR of 18.6% over the forecast period owing to stricter emission rules by several governments around the world.

For electric vehicles to be capable of long-distance commuting, several charging stations are essential. However, a comprehensive electrification program has yet to be put into place for all types of transport vehicles, including automobiles, two-wheelers, public transport vehicles, and freight delivery trucks.

Longer-range electric vehicles are more practical for people who travel over longer distances. Due to improvements in battery technology and electric car battery charger efficiency, high-speed charging will also become a reality, reducing downtime while driving. As a result, the market will be driven by rising EV demand.

Increased demand for electric cars, improvements in battery technology, favorable government policies and regulations, and the release of new plug-in EV models are some of the reasons propelling the market for EV batteries. Sales have been influenced by a significant increase in demand for zero-emission vehicles as a result of rising fuel prices, the depletion of fossil fuel reserves, and tightening pollution rules.

“Rapidly Rising Sales of Plug-in EV Models”

The market for electric vehicles is rapidly growing on a global scale. Major automakers are entering the market as a result of the rising demand for EVs, which will ultimately boost the need for EV batteries. Leading producers are creating electric car models to boost their market share. The attention of major manufacturers in the industry is expected to boost the development of electric vehicles.

“Surging E-mobility Trends to Push EV Battery Sales”

The e-mobility trend is predicted to gain pace due to rising electric car sales over the coming years. Market growth is driven by the continued deployment of integrated charging stations and the development of green power production capacities.

Strategic collaborations between e-mobility providers, battery manufacturers, and energy suppliers are boosting sales of electric vehicle batteries. Automakers are simultaneously promoting technological breakthroughs to guarantee that the propulsion systems in their electric vehicles are powerful.

Competitive Landscape

Top manufacturers of electric vehicle batteries are focusing on new developments, quality control, product standards, collaborations, and supply chain management. Top automakers are concentrating on forming strategic alliances with battery producers to secure a stable supply of batteries.

For instance,

  • In 2021, Panasonic introduced its new Tesla-specific 4680 battery cell. According to the manufacturer, the new battery offers six times higher power capacity and five times more energy. A new battery cell may also be less expensive, have great efficiency, and have a long range in tiny battery packs.

These insights are based on a report on Electric Vehicle (EV) Battery Market by Fact.MR.

Tags: electric energyelectric vehicleEVEV BatteryFact.MR
ShareTweetShare
Urja Daily

Urja Daily

Related Posts

Data Center Construction Market

Key Factors Fueling Growth in the U.S. Data Center Construction Market

by Palak
July 2, 2025
0

The U.S. Data Center Construction Market is undergoing an unprecedented transformation. Fueled by digitization, surging data consumption, and a heightened demand...

Alkaline Battery Market

How the Alkaline Battery Market Is Powering Growth in Consumer Electronics?

by Palak
July 1, 2025
0

The ever-evolving landscape of consumer electronics is placing increasing demand on portable and reliable energy sources. Among the various battery...

Electric Vehicle Market

Electric Vehicle Market

by Palak
June 30, 2025
0

1. Solid-State Batteries: Redefining Energy Density and Safety Solid-state batteries represent one of the most eagerly anticipated advancements in EV...

EV Adoption Accelerates

Key Growth Drivers of the U.S. Charging-as-a-Service Market

by Palak
June 27, 2025
0

The rapid transition towards clean energy and sustainable mobility has placed electric vehicles (EVs) at the forefront of the transportation...

LDPE Market

Top 5 Emerging Opportunities in the LDPE Market

by Palak
June 25, 2025
0

The Low Density Polyethylene Market is witnessing a significant surge in demand across multiple sectors. From flexible packaging to agriculture and...

Next Post
Shashank Sathe CTO - Magenta Mobility

Magenta Mobility Appoints Shashank Sathe as CTO

Princeton Digital Group Signs MoU with TPREL for its 48MW Mumbai Data Center

Princeton Digital Group Signs MoU with TPREL for its 48MW Mumbai Data Center

Leave a Reply Cancel reply

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

RECOMMENDED

Ministry of Power

MoP Launches India Energy Stack as Digital Public Infrastructure for Power Sector

July 2, 2025
Damodar Valley Corporation

DVC Inks PPA to Supply 300 MW Thermal Power to Karnataka Discoms

July 2, 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

MoP Launches India Energy Stack as Digital Public Infrastructure for Power Sector

DVC Inks PPA to Supply 300 MW Thermal Power to Karnataka Discoms

Ardian Acquires 116 MW Solar Assets in Italy

NHPC Commissions 53.57 MW of Karnisar Solar Project in Bikaner

Ardian Acquires 116 MW Solar Portfolio in Italy

Oswal Energies Receives Inaugural Electrolyser Shipment from Greenzo Energy

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