Canada EV Battery Pack Market Size
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 0.46 Billion |
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Market Size (2029) | USD 3.99 Billion |
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Largest Share by Propulsion Type | BEV |
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CAGR (2024 - 2029) | 54.15 % |
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Fastest Growing by Propulsion Type | BEV |
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Market Concentration | High |
Major Players |
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*Disclaimer: Major Players sorted in alphabetical order. |
Canada EV Battery Pack Market Analysis
The Canada EV Battery Pack Market size is estimated at 0.46 billion USD in 2024, and is expected to reach 3.99 billion USD by 2029, growing at a CAGR of 54.15% during the forecast period (2024-2029).
0.46 Billion
Market Size in 2024 (USD)
3.99 Billion
Market Size in 2029 (USD)
4.17 %
CAGR (2022-2023)
54.15 %
CAGR (2024-2029)
Largest Segment by Body Type
88.08 %
value share, Passenger Car, 2023
The Canadian EV battery market's largest segment is passenger cars due to government incentives such as a $5,000 incentive and availability of charging infrastructure.
Largest Segment by Propulsion Type
94.75 %
value share, BEV, 2023
With purchase rebates, zero-emission vehicle (ZEV) credits, and tax incentives and 20,000 public charging stations across Canada increases BEV adoption in near future.
Largest Segment by Battery Chemistry
56.35 %
value share, NMC, 2023
The continuous evolution of NMC battery technology and ability of faster charging has captured the attention of automakers and customers in Canda EV batterypack market.
Largest Segment by Battery Form
53.67 %
value share, Cylindrical, 2023
Due to packaging efficiency, design flexibility and thermal management making cylindrical batteries a popular and leading choice for EV in Canada.
Leading Market Player
52.83 %
market share, LG Energy Solution Ltd., 2022
LG Chem establishes operations in Canada to meet the local automotive industry's battery demand and support electric mobility advancement.
Government support and incentives boost the demand for BEVs
- In recent years, Canada has seen significant growth in the adoption of electric vehicle (EV) battery packs. According to the International Energy Agency (IEA), the total number of EVs produced in Canada reached 17,000 in 2020, representing a 29% increase from the previous year. The increased production has also led to a reduction in the cost of battery packs, which is a key factor driving the adoption of EVs. According to Markline, the average cost of a battery pack in Canada was USD 157 per kilowatt-hour in 2020, a 14% reduction from 2019. R&D has also played a key role in driving the adoption of EV battery packs in Canada.
- One of the primary drivers of EV growth is the government's emphasis on supporting renewable energy and lowering carbon emissions. The numerous rebates and tax credits available to EV customers in Canada make them more affordable for the general public. For example, the Canadian federal government has introduced the iZEV program, which provides up to USD 5,000 in refunds to consumers who purchase or lease qualified zero-emission cars, including EVs. This has aided in the increased adoption of EVs in the country, driving the demand for EV battery packs.
- The future of electric vehicles (EVs) in Canada looks promising. The Canadian government set a target for all new light-duty vehicles sold to be zero-emission vehicles by 2035. Various Canadian provinces have set their targets for the adoption of electric vehicles. For example, Quebec aims to have 100% of new passenger vehicle sales be electric by 2035, and British Columbia has set a target of 100% zero-emission vehicle sales by 2040. This will undoubtedly lead to an increase in the adoption of EVs in the country.
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Canada EV Battery Pack Market Trends
Tesla, Chevrolet, Ford, Hyundai, and Toyota lead EV sales in Canada
- As of 2022, the electric vehicle (EV) market in Canada is dominated by five major players, collectively accounting for approximately 70% of the market. These prominent companies include Tesla, Toyota Group, Ford Group, Hyundai, and Chevrolet. Leading the pack, Tesla commands a significant 52.30% market share, emphasizing its commitment to cutting-edge innovations. Tesla has also forged strategic partnerships with key EV component manufacturers, notably in the battery segment. With a strong presence and a loyal customer base, Tesla's offerings are highly regarded across Canada.
- Securing the second spot in Canada's EV market, Chevrolet captures an 8.18% market share. Chevrolet, a well-established brand, boasts a robust supply and distribution network. With its diverse product portfolio, the company offers a range of electric vehicles. In third place, the Ford Group, a prominent North American brand, holds a 7.76% market share in EV sales in Canada, leveraging its extensive product and service network.
- Hyundai, with a 6.73% market share, stands as the fourth-largest player in Canada's EV market. Known for its strong production and supply chain, Hyundai offers a wide array of innovative EVs at competitive prices. Toyota Group, the fifth major player, maintains a market share of 6.53%. Other notable EV sellers in Canada include Kia, Audi, BMW, VW, and Nissan.
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Major demand for battery packs comes from the passenger car segment, where Tesla has a market share of more than 50% in Canada
- Canada has witnessed a consistent growth in the demand for electric vehicles (EVs) in recent years, driving the growth in the demand for batteries. While the market offers a plethora of brands and models, the standout performers in 2023 were the Tesla Model 3, Tesla Model Y, Ford Mustang Mach-E, Hyundai IONIQ 5, and Toyota Prius. The Tesla Model 3, with 22,515 units sold, retained its dominant position, driven by its impressive performance, commendable range, and rear-wheel drive.
- The Tesla Model Y secured the second spot, selling 16,089 units in 2023. It entices buyers with its two variants: the long-range and the performance edition, both boasting stellar performance and extended range. The Ford Mustang Mach-E clinched the third position, selling 6,048 units. This fully electric vehicle comes in four variants, catering to diverse consumer preferences for both performance and range.
- The Hyundai IONIQ 5 secured the fourth spot, with 5,037 units sold across Canada in 2023. Its competitive pricing, spacious long wheelbase, and comfortable seating make it a hit among buyers. Rounding off the top five is the Toyota Prius, with 4,313 units sold in Canada in 2023. Notable mentions among the other top-selling models include the Chevrolet Bolt EUV, Chevrolet Bolt, Volkswagen ID.4, Nissan Leaf, and Hyundai EV6.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Government initiatives and increasing consumer adoption in Canada drive strong growth in electric vehicle sales
- Increasing foreign investment and domestic production drive the electric vehicle market in Canada
- The Canadian battery market follows the US trend, and the declining prices drive electric vehicle adoption
- New product launches and pre-orders will drive the electric car market in Canada in 2024
- Canada's electric vehicle demand fuels NMC, NCA, NCM, and LFP battery chemistries
- The growing demand for battery materials in Canada is driven by the growing adoption of electric vehicles, with NMC batteries leading the market
- Investments in the battery industry drive the growth of electric vehicles and boost mobility in Canada
Canada EV Battery Pack Industry Overview
The Canada EV Battery Pack Market is fairly consolidated, with the top five companies occupying 88.28%. The major players in this market are LG Energy Solution Ltd., Panasonic Holdings Corporation, Samsung SDI Co. Ltd., SK Innovation Co. Ltd. and Tesla Inc. (sorted alphabetically).
Canada EV Battery Pack Market Leaders
LG Energy Solution Ltd.
Panasonic Holdings Corporation
Samsung SDI Co. Ltd.
SK Innovation Co. Ltd.
Tesla Inc.
Other important companies include Ambri Inc., Contemporary Amperex Technology Co. Ltd. (CATL), Envision AESC Japan Co. Ltd., Imperium3 New York (IM3NY), Sila Nanotechnologies Inc..
*Disclaimer: Major Players sorted in alphabetical order.
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Canada EV Battery Pack Market News
- June 2023: CATL will invest USD 1.4 billion in helping Bolivia develop its huge but largely untapped reserves of lithium. Following a meeting with CATL executives on June 25, Bolivian President Luis Arce confirmed the commitment to build two lithium plants to extract minerals from the country’s Uyuni and Oruro salt flats. Construction of both plants could begin as soon as July, according to the country’s energy ministry.
- March 2023: Tesla was reported to be in talks with Contemporary Amperex Technology Co. Ltd. (CATL) regarding plans to build a battery factory in the U.S., according to sources familiar with the matter.
- November 2022: SK On and Hyundai Motor Group have signed an MOU to cooperate in supplying electric vehicle (EV) batteries in North America.
Free with this Report
Our comprehensive data set offers over 120 free charts, providing detailed regional and country-level insights into the EV battery pack industry. This includes analyses of distribution and production centers, variations in average selling prices (ASPs) across different regions, and a deep dive into industry trends like demand shifts and technological innovations. We also offer a thorough market segmentation, examining different battery chemistries, capacities, and form factors, alongside an in-depth understanding of market trends such as the adoption of advanced technologies and the impact of environmental regulations. Additionally, we provide an overview of major industry players, a look at the regulatory landscape, and market size analysis in terms of revenue and volume, all culminating in projections and forecasts that consider emerging trends and potential industry shifts.
Canada EV Battery Pack Market Report - Table of Contents
EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1.1. Study Assumptions & Market Definition
1.2. Scope of the Study
1.3. Research Methodology
2. KEY INDUSTRY TRENDS
2.1. Electric Vehicle Sales
2.2. Electric Vehicle Sales By OEMs
2.3. Best-selling EV Models
2.4. OEMs With Preferable Battery Chemistry
2.5. Battery Pack Price
2.6. Battery Material Cost
2.7. Price Chart Of Different Battery Chemistry
2.8. Who Supply Whom
2.9. EV Battery Capacity And Efficiency
2.10. Number Of EV Models Launched
2.11. Regulatory Framework
2.11.1. Canada
2.12. Value Chain & Distribution Channel Analysis
3. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
3.1. Body Type
3.1.1. Bus
3.1.2. LCV
3.1.3. M&HDT
3.1.4. Passenger Car
3.2. Propulsion Type
3.2.1. BEV
3.2.2. PHEV
3.3. Battery Chemistry
3.3.1. LFP
3.3.2. NCA
3.3.3. NCM
3.3.4. NMC
3.3.5. Others
3.4. Capacity
3.4.1. 15 kWh to 40 kWh
3.4.2. 40 kWh to 80 kWh
3.4.3. Above 80 kWh
3.4.4. Less than 15 kWh
3.5. Battery Form
3.5.1. Cylindrical
3.5.2. Pouch
3.5.3. Prismatic
3.6. Method
3.6.1. Laser
3.6.2. Wire
3.7. Component
3.7.1. Anode
3.7.2. Cathode
3.7.3. Electrolyte
3.7.4. Separator
3.8. Material Type
3.8.1. Cobalt
3.8.2. Lithium
3.8.3. Manganese
3.8.4. Natural Graphite
3.8.5. Nickel
3.8.6. Other Materials
4. COMPETITIVE LANDSCAPE
4.1. Key Strategic Moves
4.2. Market Share Analysis
4.3. Company Landscape
4.4. Company Profiles
4.4.1. Ambri Inc.
4.4.2. Contemporary Amperex Technology Co. Ltd. (CATL)
4.4.3. Envision AESC Japan Co. Ltd.
4.4.4. Imperium3 New York (IM3NY)
4.4.5. LG Energy Solution Ltd.
4.4.6. Panasonic Holdings Corporation
4.4.7. Samsung SDI Co. Ltd.
4.4.8. Sila Nanotechnologies Inc.
4.4.9. SK Innovation Co. Ltd.
4.4.10. Tesla Inc.
5. KEY STRATEGIC QUESTIONS FOR EV BATTERY PACK CEOS
6. APPENDIX
6.1. Global Overview
6.1.1. Overview
6.1.2. Porter’s Five Forces Framework
6.1.3. Global Value Chain Analysis
6.1.4. Market Dynamics (DROs)
6.2. Sources & References
6.3. List of Tables & Figures
6.4. Primary Insights
6.5. Data Pack
6.6. Glossary of Terms
List of Tables & Figures
- Figure 1:
- ELECTRIC VEHICLE SALES, BY BODY TYPE, UNITS, CANADA, 2017 - 2029
- Figure 2:
- ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, CANADA, 2023
- Figure 3:
- ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, CANADA, 2023
- Figure 4:
- BEST-SELLING EV MODELS, UNITS, CANADA, 2023
- Figure 5:
- OEMS MARKET SHARE BY ELECTRIC VEHICLE BATTERY CHEMISTRY, VOLUME %, CANADA, 2023
- Figure 6:
- ELECTRIC VEHICLE BATTERY CELL AND PACK PRICE, USD, CANADA, 2017 - 2029
- Figure 7:
- ELECTRIC VEHICLE KEY BATTERY MATERIAL PRICE, BY MATERIAL, USD, CANADA, 2017 - 2029
- Figure 8:
- ELECTRIC VEHICLE BATTERY PRICE, BY BATTERY CHEMISTRY, USD, CANADA, 2017 - 2029
- Figure 9:
- EV BATTERY PACK CAPACITY AND EFFICIENCY, KM/KWH, CANADA, 2023
- Figure 10:
- UPCOMING EV MODELS, BY BODY TYPE, UNITS, CANADA, 2023
- Figure 11:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, KWH, CANADA, 2017 - 2029
- Figure 12:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, USD, CANADA, 2017 - 2029
- Figure 13:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY BODY TYPE, KWH, CANADA, 2017 - 2029
- Figure 14:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY BODY TYPE, USD, CANADA, 2017 - 2029
- Figure 15:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VOLUME SHARE (%), CANADA, 2022 & 2029
- Figure 16:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2022 & 2029
- Figure 17:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY BUS, KWH, CANADA, 2017 - 2029
- Figure 18:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY BUS, USD, CANADA, 2017 - 2029
- Figure 19:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 20:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY LCV, KWH, CANADA, 2017 - 2029
- Figure 21:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY LCV, USD, CANADA, 2017 - 2029
- Figure 22:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 23:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY M&HDT, KWH, CANADA, 2017 - 2029
- Figure 24:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY M&HDT, USD, CANADA, 2017 - 2029
- Figure 25:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 26:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY PASSENGER CAR, KWH, CANADA, 2017 - 2029
- Figure 27:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY PASSENGER CAR, USD, CANADA, 2017 - 2029
- Figure 28:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 29:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY PROPULSION TYPE, KWH, CANADA, 2017 - 2029
- Figure 30:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY PROPULSION TYPE, USD, CANADA, 2017 - 2029
- Figure 31:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, PROPULSION TYPE, VOLUME SHARE (%), CANADA, 2022 & 2029
- Figure 32:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), CANADA, 2022 & 2029
- Figure 33:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY BEV, KWH, CANADA, 2017 - 2029
- Figure 34:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY BEV, USD, CANADA, 2017 - 2029
- Figure 35:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 36:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY PHEV, KWH, CANADA, 2017 - 2029
- Figure 37:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY PHEV, USD, CANADA, 2017 - 2029
- Figure 38:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 39:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY BATTERY CHEMISTRY, KWH, CANADA, 2017 - 2029
- Figure 40:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY BATTERY CHEMISTRY, USD, CANADA, 2017 - 2029
- Figure 41:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BATTERY CHEMISTRY, VOLUME SHARE (%), CANADA, 2022 & 2029
- Figure 42:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BATTERY CHEMISTRY, VALUE SHARE (%), CANADA, 2022 & 2029
- Figure 43:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY LFP, KWH, CANADA, 2017 - 2029
- Figure 44:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY LFP, USD, CANADA, 2017 - 2029
- Figure 45:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 46:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY NCA, KWH, CANADA, 2017 - 2029
- Figure 47:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY NCA, USD, CANADA, 2017 - 2029
- Figure 48:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 49:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY NCM, KWH, CANADA, 2017 - 2029
- Figure 50:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY NCM, USD, CANADA, 2017 - 2029
- Figure 51:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 52:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY NMC, KWH, CANADA, 2017 - 2029
- Figure 53:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY NMC, USD, CANADA, 2017 - 2029
- Figure 54:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 55:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY OTHERS, KWH, CANADA, 2017 - 2029
- Figure 56:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY OTHERS, USD, CANADA, 2017 - 2029
- Figure 57:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 58:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY CAPACITY, KWH, CANADA, 2017 - 2029
- Figure 59:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY CAPACITY, USD, CANADA, 2017 - 2029
- Figure 60:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, CAPACITY, VOLUME SHARE (%), CANADA, 2022 & 2029
- Figure 61:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, CAPACITY, VALUE SHARE (%), CANADA, 2022 & 2029
- Figure 62:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, KWH, CANADA, 2017 - 2029
- Figure 63:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, USD, CANADA, 2017 - 2029
- Figure 64:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 65:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, KWH, CANADA, 2017 - 2029
- Figure 66:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, USD, CANADA, 2017 - 2029
- Figure 67:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 68:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY ABOVE 80 KWH, KWH, CANADA, 2017 - 2029
- Figure 69:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY ABOVE 80 KWH, USD, CANADA, 2017 - 2029
- Figure 70:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 71:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY LESS THAN 15 KWH, KWH, CANADA, 2017 - 2029
- Figure 72:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY LESS THAN 15 KWH, USD, CANADA, 2017 - 2029
- Figure 73:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 74:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY BATTERY FORM, KWH, CANADA, 2017 - 2029
- Figure 75:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY BATTERY FORM, USD, CANADA, 2017 - 2029
- Figure 76:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BATTERY FORM, VOLUME SHARE (%), CANADA, 2022 & 2029
- Figure 77:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BATTERY FORM, VALUE SHARE (%), CANADA, 2022 & 2029
- Figure 78:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY CYLINDRICAL, KWH, CANADA, 2017 - 2029
- Figure 79:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY CYLINDRICAL, USD, CANADA, 2017 - 2029
- Figure 80:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 81:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY POUCH, KWH, CANADA, 2017 - 2029
- Figure 82:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY POUCH, USD, CANADA, 2017 - 2029
- Figure 83:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 84:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY PRISMATIC, KWH, CANADA, 2017 - 2029
- Figure 85:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY PRISMATIC, USD, CANADA, 2017 - 2029
- Figure 86:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 87:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY METHOD, KWH, CANADA, 2017 - 2029
- Figure 88:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY METHOD, USD, CANADA, 2017 - 2029
- Figure 89:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, METHOD, VOLUME SHARE (%), CANADA, 2022 & 2029
- Figure 90:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, METHOD, VALUE SHARE (%), CANADA, 2022 & 2029
- Figure 91:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY LASER, KWH, CANADA, 2017 - 2029
- Figure 92:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY LASER, USD, CANADA, 2017 - 2029
- Figure 93:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 94:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY WIRE, KWH, CANADA, 2017 - 2029
- Figure 95:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY WIRE, USD, CANADA, 2017 - 2029
- Figure 96:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 97:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY COMPONENT, UNITS, CANADA, 2017 - 2029
- Figure 98:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY COMPONENT, USD, CANADA, 2017 - 2029
- Figure 99:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, COMPONENT, VOLUME SHARE (%), CANADA, 2022 & 2029
- Figure 100:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, COMPONENT, VALUE SHARE (%), CANADA, 2022 & 2029
- Figure 101:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY ANODE, UNITS, CANADA, 2017 - 2029
- Figure 102:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY ANODE, USD, CANADA, 2017 - 2029
- Figure 103:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 104:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY CATHODE, UNITS, CANADA, 2017 - 2029
- Figure 105:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY CATHODE, USD, CANADA, 2017 - 2029
- Figure 106:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 107:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY ELECTROLYTE, UNITS, CANADA, 2017 - 2029
- Figure 108:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY ELECTROLYTE, USD, CANADA, 2017 - 2029
- Figure 109:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 110:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY SEPARATOR, UNITS, CANADA, 2017 - 2029
- Figure 111:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY SEPARATOR, USD, CANADA, 2017 - 2029
- Figure 112:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 113:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY MATERIAL TYPE, KG, CANADA, 2017 - 2029
- Figure 114:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY MATERIAL TYPE, USD, CANADA, 2017 - 2029
- Figure 115:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, MATERIAL TYPE, VOLUME SHARE (%), CANADA, 2022 & 2029
- Figure 116:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, MATERIAL TYPE, VALUE SHARE (%), CANADA, 2022 & 2029
- Figure 117:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY COBALT, KG, CANADA, 2017 - 2029
- Figure 118:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY COBALT, USD, CANADA, 2017 - 2029
- Figure 119:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 120:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY LITHIUM, KG, CANADA, 2017 - 2029
- Figure 121:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY LITHIUM, USD, CANADA, 2017 - 2029
- Figure 122:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 123:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY MANGANESE, KG, CANADA, 2017 - 2029
- Figure 124:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY MANGANESE, USD, CANADA, 2017 - 2029
- Figure 125:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 126:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY NATURAL GRAPHITE, KG, CANADA, 2017 - 2029
- Figure 127:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY NATURAL GRAPHITE, USD, CANADA, 2017 - 2029
- Figure 128:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 129:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY NICKEL, KG, CANADA, 2017 - 2029
- Figure 130:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY NICKEL, USD, CANADA, 2017 - 2029
- Figure 131:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 132:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY OTHER MATERIALS, KG, CANADA, 2017 - 2029
- Figure 133:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BY OTHER MATERIALS, USD, CANADA, 2017 - 2029
- Figure 134:
- BREAKDOWN OF CANADA EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), CANADA, 2017-2029
- Figure 135:
- CANADA EV BATTERY PACK MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2020 - 2022
- Figure 136:
- CANADA EV BATTERY PACK MARKET, MOST ADOPTED STRATEGIES, 2020 - 2022
- Figure 137:
- CANADA EV BATTERY PACK MARKET SHARE(%), BY MAJOR PLAYER REVENUE, 2023
Canada EV Battery Pack Industry Segmentation
Bus, LCV, M&HDT, Passenger Car are covered as segments by Body Type. BEV, PHEV are covered as segments by Propulsion Type. LFP, NCA, NCM, NMC, Others are covered as segments by Battery Chemistry. 15 kWh to 40 kWh, 40 kWh to 80 kWh, Above 80 kWh, Less than 15 kWh are covered as segments by Capacity. Cylindrical, Pouch, Prismatic are covered as segments by Battery Form. Laser, Wire are covered as segments by Method. Anode, Cathode, Electrolyte, Separator are covered as segments by Component. Cobalt, Lithium, Manganese, Natural Graphite, Nickel are covered as segments by Material Type.
- In recent years, Canada has seen significant growth in the adoption of electric vehicle (EV) battery packs. According to the International Energy Agency (IEA), the total number of EVs produced in Canada reached 17,000 in 2020, representing a 29% increase from the previous year. The increased production has also led to a reduction in the cost of battery packs, which is a key factor driving the adoption of EVs. According to Markline, the average cost of a battery pack in Canada was USD 157 per kilowatt-hour in 2020, a 14% reduction from 2019. R&D has also played a key role in driving the adoption of EV battery packs in Canada.
- One of the primary drivers of EV growth is the government's emphasis on supporting renewable energy and lowering carbon emissions. The numerous rebates and tax credits available to EV customers in Canada make them more affordable for the general public. For example, the Canadian federal government has introduced the iZEV program, which provides up to USD 5,000 in refunds to consumers who purchase or lease qualified zero-emission cars, including EVs. This has aided in the increased adoption of EVs in the country, driving the demand for EV battery packs.
- The future of electric vehicles (EVs) in Canada looks promising. The Canadian government set a target for all new light-duty vehicles sold to be zero-emission vehicles by 2035. Various Canadian provinces have set their targets for the adoption of electric vehicles. For example, Quebec aims to have 100% of new passenger vehicle sales be electric by 2035, and British Columbia has set a target of 100% zero-emission vehicle sales by 2040. This will undoubtedly lead to an increase in the adoption of EVs in the country.
| Body Type | |
| Bus | |
| LCV | |
| M&HDT | |
| Passenger Car |
| Propulsion Type | |
| BEV | |
| PHEV |
| Battery Chemistry | |
| LFP | |
| NCA | |
| NCM | |
| NMC | |
| Others |
| Capacity | |
| 15 kWh to 40 kWh | |
| 40 kWh to 80 kWh | |
| Above 80 kWh | |
| Less than 15 kWh |
| Battery Form | |
| Cylindrical | |
| Pouch | |
| Prismatic |
| Method | |
| Laser | |
| Wire |
| Component | |
| Anode | |
| Cathode | |
| Electrolyte | |
| Separator |
| Material Type | |
| Cobalt | |
| Lithium | |
| Manganese | |
| Natural Graphite | |
| Nickel | |
| Other Materials |
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Market Definition
- Battery Chemistry - Various types of battery chemistry considred under this segment include LFP, NCA, NCM, NMC, Others.
- Battery Form - The types of battery forms offered under this segment include Cylindrical, Pouch and Prismatic.
- Body Type - Body types considered under this segment include, passenger cars, LCV (light commercial vehicle), M&HDT (medium & heavy duty trucks)and buses.
- Capacity - Various types of battery capacities inldude under theis segment are 15 kWH to 40 kWH, 40 kWh to 80 kWh, Above 80 kWh and Less than 15 kWh.
- Component - Various components covered under this segment include anode, cathode, electrolyte, separator.
- Material Type - Various material covered under this segment include cobalt, lithium, manganese, natural graphite, nickel, other material.
- Method - The types of method covered under this segment include laser and wire.
- Propulsion Type - Propulsion types considered under this segment include BEV (Battery electric vehicles), PHEV (plug-in hybrid electric vehicle).
- ToC Type - ToC 1
- Vehicle Type - Vehicle type considered under this segment include passenger vehicles, and commercial vehicles with various EV powertrains.
| Keyword | Definition |
|---|---|
| Electric vehicle (EV) | A vehicle which uses one or more electric motors for propulsion. Includes cars, buses, and trucks. This term includes all-electric vehicles or battery electric vehicles and plug-in hybrid electric vehicles. |
| PEV | A plug-in electric vehicle is an electric vehicle that can be externally charged and generally includes all electric vehicles as well as plug-electric vehicles as well as plug-in hybrids. |
| Battery-as-a-Service | A business model in which the battery of an EV can be rented from a service provider or swapped with another battery when it runs out of charge |
| Battery Cell | The basic unit of an electric vehicle's battery pack, typically a lithium-ion cell, that stores electrical energy. |
| Module | A subsection of an EV battery pack, consisting of several cells grouped together, often used to facilitate manufacturing and maintenance. |
| Battery Management System (BMS) | An electronic system that manages a rechargeable battery by protecting the battery from operating outside its safe operating area, monitoring its state, calculating secondary data, reporting data, controlling its environment, and balancing it. |
| Energy Density | A measure of how much energy a battery cell can store in a given volume, usually expressed in watt-hours per liter (Wh/L). |
| Power Density | The rate at which energy can be delivered by the battery, often measured in watts per kilogram (W/kg). |
| Cycle Life | The number of complete charge-discharge cycles a battery can perform before its capacity falls under a specified percentage of its original capacity. |
| State of Charge (SOC) | A measurement, expressed as a percentage, that represents the current level of charge in a battery compared to its capacity. |
| State of Health (SOH) | An indicator of the overall condition of a battery, reflecting its current performance compared to when it was new. |
| Thermal Management System | A system designed to maintain optimal operating temperatures for an EV's battery pack, often using cooling or heating methods. |
| Fast Charging | A method of charging an EV battery at a much faster rate than standard charging, typically requiring specialized charging equipment. |
| Regenerative Braking | A system in electric and hybrid vehicles that recovers energy normally lost during braking and stores it in the battery. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all its reports.
- Step-1: Identify Key Variables: To build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built based on these variables.
- Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. Market revenue is calculated by multiplying the volume demand with volume-weighted average battery pack price (per kWh). Battery pack price estimation and forecast takes into account various factors affecting ASP, such as inflation rates, market demand shifts, production costs, technological developments, and consumer preferences, providing estimations for both historical data and future trends.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables, and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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