European Electric Vehicle Battery Market Size, Growth Analysis Report, Forecast to 2027

European electric vehicle battery market is anticipated to showcase a lucrative CAGR during the forecast period. According to the American Chemical Society, Europe possesses only a 3.0% share of the global lithium-ion battery market in 2019. The rising focus of European players to compete with dominant Asian market players is a key factor driving European Electric vehicle battery market. Due to this, several major battery gigafactories are planned for Europe in the next few years to meet an anticipated surge in demand for electric vehicles in the region. 

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The market is segmented on the basis of vehicle type, battery type, and propulsion technology. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheelers. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on the battery type Li-ion batteries market is anticipated to exhibit considerable growth due to its light-weight characteristic. Based on propulsion technology the market is sub-segmented into battery electric vehicles, plug-in hybrid electric vehicles. Based on the propulsion type, battery electric vehicles are anticipated to have considerable market growth during the forecast period. 

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Hitachi Ltd., Tesla Inc., NEC Corp., Panasonic Corp., and Sony Corp. among others are the key electric vehicle battery manufacturers operating in the European electric vehicle battery market. These players are actively involved in the expansion of their market share by adopting several growth strategies such as the launch of new battery manufacturing plants or entering into partnerships with the major electric vehicle manufacturer. For instance, in 2019, Contemporary Amperex Technology Ltd. (CATL) committed to building its gigafactory at Erfurter Kreuz by 2022, and VW, Northvolt committed to building its gigafactory at Salzgitter by 2023.

European Electric Vehicle Battery Market Segmentation

European Electric Vehicle Battery Market by Vehicle Type

• Commercial Vehicles
• Passenger Cars
• Two-Wheelers

European Electric Vehicle Battery Market by Battery Type 

• NiMH
• Li-Ion
• Others

European Electric Vehicle Battery Market by Propulsion Type 

• Battery Electric Vehicles
• Plug-in Hybrid Electric Vehicle

European Electric Vehicle Battery Market  – Segment by Region 

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Company Profiles

• BMZBatterien-Montage-Zentrum GmbH
• Britishvolt
• Contemporary Amperex Technology Co. Ltd.
• Custom Cells Itzehoe GmbH
• Daimler AG
• EAS Batteries GmbH
• Hankook AtlasBX Co., Ltd.
• Hitachi, Ltd. 
• LG Chem Ltd.
• Liacon GmbH
• NEC Corp.
• NorthVolt AB
• Panasonic Corp.
• Samsung SDI Co., Ltd. 
• SK Innovation Co. Ltd.
• Sony Corp.
• Svolt Energy Technology Co., Ltd.
• Tesla Inc.

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