How big is the Europe EV Battery Pack Market?

The Europe EV Battery Pack Market size is expected to reach USD 24.95 billion in 2024 and grow at a CAGR of 15.31% to reach USD 50.86 billion by 2029. Read More

What is the current Europe EV Battery Pack Market size?

In 2024, the Europe EV Battery Pack Market size is expected to reach USD 24.95 billion. Read More

Which segment has the biggest share in the Europe EV Battery Pack Market?

In the Europe EV Battery Pack Market, the BEV segment accounts for the largest share by propulsion type. Read More

Which country has the biggest share in the Europe EV Battery Pack Market?

In 2024, Germany accounts for the largest share by country in the Europe EV Battery Pack Market. Read More

What years does this Europe EV Battery Pack Market cover, and what was the market size in 2023?

In 2023, the Europe EV Battery Pack Market size was estimated at 24.95 billion. The report covers the Europe EV Battery Pack Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe EV Battery Pack Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Europe EV Battery Pack Market Size & Share Analysis - Industry Research Report

Europe EV Battery Pack Market Size

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Icons	Lable	Value
	Study Period	2017 - 2029
	Market Size (2024)	USD 24.95 Billion
	Market Size (2029)	USD 50.86 Billion
	Largest Share by Propulsion Type	BEV
	CAGR (2024 - 2029)	15.31 %
	Largest Share by Country	Germany
Major Players

*Disclaimer: Major Players sorted in alphabetical order.

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Europe EV Battery Pack Market Analysis

The Europe EV Battery Pack Market size is estimated at 24.95 billion USD in 2024, and is expected to reach 50.86 billion USD by 2029, growing at a CAGR of 15.31% during the forecast period (2024-2029).

24.95 Billion

Market Size in 2024 (USD)

50.86 Billion

Market Size in 2029 (USD)

65.20 %

CAGR (2017-2023)

15.31 %

CAGR (2024-2029)

Largest Segment by Body Type

94 %

value share, Passenger Car, 2023

Europe's focus on promoting electric vehicle adoption and developing charging infrastructure further drives the growth of passenger electric vehicles in the region.

Largest Segment by Propulsion Type

85.20 %

value share, BEV, 2023

The Europe electric vehicle battery pack market is driven by the growing demand for BEV, reflecting the region's commitment to sustainable transportation.

Largest Segment by Battery Chemistry

41.34 %

value share, NMC, 2023

NMC chemistry dominates Europe's electric vehicle battery pack market, offering high energy density and improved performance for sustainable transportation.

Largest Segment by Battery Form

52.28 %

value share, Pouch, 2023

The pouch battery, which offers flexibility and effective space utilisation for improved performance and range, leads the market for electric car battery packs in Europe.

Leading Market Player

11.74 %

market share, SAIC Volkswagen Power Battery Co. Ltd., 2022

SAIC Volkswagen has established strong ties with various automakers. These relationships ensure ongoing contracts and collaborations, securing a steady demand for their battery packs.

The European electric vehicle battery pack market poised to record 16.5% CAGR, fueled by increasing BEV demand

Europe has seen significant growth in the adoption of pure battery electric vehicles (BEVs) and electric buses driven by government incentives, stricter emissions regulations, and advancements in battery technology. According to a report by the European Alternative Fuels Observatory, the number of electric vehicles in Europe reached 1.4 million in 2020, with BEVs accounting for 74% of the total. The electric bus market in Europe also experienced growth, recording a CAGR of 16.2% from 2017 to 2022.
The growing demand for battery packs in the electric vehicle market is driven by the increasing battery density and range and the declining battery costs. Battery technology has been evolving rapidly, and the energy density of lithium-ion batteries has already doubled over the past decade, allowing for longer ranges on a single charge. Battery costs have also declined significantly, with the average cost of lithium-ion batteries for electric vehicles declining by 89% from 2010 to 2020. The cost is expected to further decline to USD 58/kWh by 2030. The trend of solid-state batteries is also increasing, with companies such as Toyota and Volkswagen investing heavily in the technology.
In the forecast period (2023-2029), the European market for electric vehicle battery packs is anticipated to expand significantly. It is anticipated to register a CAGR of 16.5% over the forecast period as a result of the rising demand for electric cars. Higher energy density, longer ranges, and quicker charging times are just a few of the battery technology developments that are anticipated to help the industry grow. Opportunities for recycling and reusing battery packs are also expected to abound in the future, further driving the battery pack market in Europe.

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France and Italy experience growth in European electric vehicle battery pack market, fueled by government incentives and rising consumer awareness

The European electric vehicle battery pack market is a dynamic and growing market. The market is expected to continue to grow in the coming years, driven by the increasing adoption of EVs and the declining cost of battery packs. In addition to the factors mentioned above, a number of other factors are expected to drive the growth of the European electric vehicle battery pack market in the coming years.
Germany is a leading player in the market, having registered a remarkable increase in value over the years. This growth can be attributed to various factors, such as government support for electric vehicles, rising consumer demand for EVs, and advancements in battery technology. Germany's robust automotive industry, combined with substantial investments by major automakers in electric vehicle production, has significantly contributed to the surge in demand for battery packs.
France, another prominent European country, has also witnessed notable growth in the battery pack market. France's commitment to promoting the adoption of electric vehicles through favorable policies and incentives has played a significant role in driving the growth of the battery pack market. While exhibiting slower growth compared to Germany and France, Italy has still experienced an upward trend in the battery pack market. Factors such as increasing consumer awareness of electric vehicles, government incentives, and technological advancements have contributed to the market's growth in Italy. As the demand for electric vehicles continues to rise, battery packs are expected to play a crucial role in supporting the transition toward sustainable mobility in Italy.

Europe EV Battery Pack Market Trends

TOYOTA GROUP LEADS THE EUROPEAN EV MARKET, FOLLOWED BY RENAULT, TESLA, KIA, AND BMW

The market for electric vehicles in various European countries is growing significantly, with numerous players operating, but it is largely driven by five major companies, which held more than 50% of the market in 2022. These companies include Toyota Group, Kia, Renault, Tesla, Kia, and Volkswagen. Toyota Group is the largest seller of electric vehicles in Europe, accounting for around 14.84% share of the electric car market. The company has a strong supply and distribution network catering to the demand and supply of customers in various European countries. The company has a wide product portfolio offering in the EV market.
Renault holds a market share of around 7.47%, making it the second-largest seller of electric vehicles across Europe. The company has a good brand image and a strong financial position. The company has alliances and strategic partnerships with good brands such as Nissan. The 3rd highest market share, 6.71%, for electric vehicle sales was recorded by Tesla. The business focuses on cutting-edge innovations and has solid strategic alliances with producers of several EV parts, including batteries.
The 4th largest place in European EV sales is Kia, accounting for around 6.26% of the market share. The company has wide product offerings for various types of customers with various budget-friendly options compared to other brands. The 5th largest player operating in the European EV market is BMW, maintaining its market share at around 6.14%. Some of the other players selling EVs in various European countries include Hyundai, Mercedes-Benz, BMW, Audi, and Ford.

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Tesla and Renault are the largest contributors to the demand for battery packs, as a result of the widespread sale of EVs in Europe in 2022

The demand for electric vehicles has dramatically increased during the past several years in every part of Europe. Electric vehicles are now more prevalent on European roadways. Although consumer interest in buying electric vehicles varies by area and by country, SUVs are the most popular type of electric vehicle in Germany and the United Kingdom, the region's two biggest markets for electric vehicles. The demand for electric SUVs is outpacing that for sedans in various European countries due to the increased interest in comfortable transportation and the fact that SUVs are roomier than sedans.
The number of compact SUVs purchased by consumers has increased dramatically across Europe. The Tesla Model Y offers a fully electric motor, a 5-star NCAP safety certification, spacious seating for up to 7 passengers, a long-range, and other features. It became one of the most popular models in several major European markets, including the United Kingdom and Germany, in 2022. The Renault Arkana provides a full hybrid engine, which has received a strong sales reaction from customers in several European nations like France due to its fuel efficiency and competitive pricing.
Captur was one of the best sellers from Renault in the European countries in 2022, owing to its offering of a hybrid and a plug-in hybrid powertrain, and is packed with lots of features attracting buyers. The European EV market also features a variety of electric SUVs and sedans from various international brands. One of the common cars is the Toyota Yaris and Ford Kuga, which recorded good sales in 2022. Other cars in the European EV market that are in the competition include the Fiat 500 and Toyota Yaris Cross.

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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT

ENVIRONMENTAL CONCERNS, GOVERNMENT SUPPORT, AND DECARBONIZATION GOALS FUEL EUROPEAN ELECTRIC VEHICLE DEMAND AND SALES
DECLINING BATTERY PRICES AND GOVERNMENT INITIATIVES DRIVE DEMAND FOR ELECTRIC VEHICLES IN EUROPE
Technological innovations, production efficiency, and competition are expected to continue exerting downward pressure on lithium-ion battery prices in Europe
RISING SALES AND GOVERNMENT INITIATIVES SIGNAL A ROBUST GROWTH IN THE EUROPEAN ELECTRIC VEHICLE SECTOR

GROWTH IN THE DEMAND FOR VARIOUS BATTERY CHEMISTRIES ACROSS VARIOUS EUROPEAN COUNTRIES
DEMAND FOR BATTERY MATERIALS AND EVOLVING BATTERY CHEMISTRIES INCREASES AS EUROPE'S ELECTRIC VEHICLE MARKET GROWS
SALES OF ELECTRIC VEHICLES IN EUROPE HAVE BEEN ON THE RISE DUE TO DEVELOPMENTS IN BATTERY TECHNOLOGY

Europe EV Battery Pack Industry Overview

The Europe EV Battery Pack Market is fragmented, with the top five companies occupying 30.60%. The major players in this market are BYD Company Ltd., Contemporary Amperex Technology Co. Ltd. (CATL), LG Energy Solution Ltd., SAIC Volkswagen Power Battery Co. Ltd. and Samsung SDI Co. Ltd. (sorted alphabetically).

Europe EV Battery Pack Market Leaders

BYD Company Ltd.
Contemporary Amperex Technology Co. Ltd. (CATL)
LG Energy Solution Ltd.
SAIC Volkswagen Power Battery Co. Ltd.
Samsung SDI Co. Ltd.

Europe EV Battery Pack Market Concentration

Other important companies include BMZ Batterien-Montage-Zentrum GmbH, Deutsche ACCUmotive GmbH & Co. KG, Groupe Renault, Ningbo Tuopu Group Co. Ltd., NorthVolt AB, Panasonic Holdings Corporation, SK Innovation Co. Ltd., SVOLT Energy Technology Co. Ltd. (SVOLT), TOSHIBA Corp..

*Disclaimer: Major Players sorted in alphabetical order.

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Europe EV Battery Pack Market News

June 2023: The Investment Management Corporation of Ontario (IMCO) announced that it is investing USD 400 million in Northvolt AB. The funds will enable Northvolt's planned expansion, aligned with IMCO and the company's commitment to a deeply sustainable battery supply chain.
June 2023: CATL announced that it launched Qiji Energy, a battery swap solution for heavy-duty trucks. The solution consists of Qiji Swapping Electric Blocks, Qiji Battery Swap Station, and Qiji Cloud Platform. Based on the CATL’s 3rd-generation LFP battery chemistry, Qiji Swapping Electric Blocks adopt the innovative NP (Non Propagation) technology and CTP (cell-to-pack) technology, striking a balance between safety and usage costs. Qiji Battery Swap Station enables one-stop swapping for different truck models and brands.
February 2023: SK nexilis to supply copper foils to Northvolt. The deal is valid for five years from 2024, and the sales under the contract are expected to reach KRW 1.4 trillion.

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.

Europe EV Battery Pack Market Report - Table of Contents

EXECUTIVE SUMMARY & KEY FINDINGS
REPORT OFFERS
1. INTRODUCTION
1. 1.1. Study Assumptions & Market Definition
2. 1.2. Scope of the Study
3. 1.3. Research Methodology
2. KEY INDUSTRY TRENDS
1. 2.1. Electric Vehicle Sales
2. 2.2. Electric Vehicle Sales By OEMs
3. 2.3. Best-selling EV Models
4. 2.4. OEMs With Preferable Battery Chemistry
5. 2.5. Battery Pack Price
6. 2.6. Battery Material Cost
7. 2.7. Price Chart Of Different Battery Chemistry
8. 2.8. Who Supply Whom
9. 2.9. EV Battery Capacity And Efficiency
10. 2.10. Number Of EV Models Launched
11. 2.11. Regulatory Framework
  1. 2.11.1. Belgium
  2. 2.11.2. France
  3. 2.11.3. Germany
  4. 2.11.4. Hungary
  5. 2.11.5. Poland
  6. 2.11.6. UK
12. 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)
1. 3.1. Body Type
  1. 3.1.1. Bus
  2. 3.1.2. LCV
  3. 3.1.3. M&HDT
  4. 3.1.4. Passenger Car
2. 3.2. Propulsion Type
  1. 3.2.1. BEV
  2. 3.2.2. PHEV
3. 3.3. Battery Chemistry
  1. 3.3.1. LFP
  2. 3.3.2. NCA
  3. 3.3.3. NCM
  4. 3.3.4. NMC
  5. 3.3.5. Others
4. 3.4. Capacity
  1. 3.4.1. 15 kWh to 40 kWh
  2. 3.4.2. 40 kWh to 80 kWh
  3. 3.4.3. Above 80 kWh
  4. 3.4.4. Less than 15 kWh
5. 3.5. Battery Form
  1. 3.5.1. Cylindrical
  2. 3.5.2. Pouch
  3. 3.5.3. Prismatic
6. 3.6. Method
  1. 3.6.1. Laser
  2. 3.6.2. Wire
7. 3.7. Component
  1. 3.7.1. Anode
  2. 3.7.2. Cathode
  3. 3.7.3. Electrolyte
  4. 3.7.4. Separator
8. 3.8. Material Type
  1. 3.8.1. Cobalt
  2. 3.8.2. Lithium
  3. 3.8.3. Manganese
  4. 3.8.4. Natural Graphite
  5. 3.8.5. Nickel
  6. 3.8.6. Other Materials
9. 3.9. Country
  1. 3.9.1. France
  2. 3.9.2. Germany
  3. 3.9.3. Hungary
  4. 3.9.4. Italy
  5. 3.9.5. Poland
  6. 3.9.6. Sweden
  7. 3.9.7. UK
  8. 3.9.8. Rest-of-Europe
4. COMPETITIVE LANDSCAPE
1. 4.1. Key Strategic Moves
2. 4.2. Market Share Analysis
3. 4.3. Company Landscape
4. 4.4. Company Profiles
  1. 4.4.1. BMZ Batterien-Montage-Zentrum GmbH
  2. 4.4.2. BYD Company Ltd.
  3. 4.4.3. Contemporary Amperex Technology Co. Ltd. (CATL)
  4. 4.4.4. Deutsche ACCUmotive GmbH & Co. KG
  5. 4.4.5. Groupe Renault
  6. 4.4.6. LG Energy Solution Ltd.
  7. 4.4.7. Ningbo Tuopu Group Co. Ltd.
  8. 4.4.8. NorthVolt AB
  9. 4.4.9. Panasonic Holdings Corporation
  10. 4.4.10. SAIC Volkswagen Power Battery Co. Ltd.
  11. 4.4.11. Samsung SDI Co. Ltd.
  12. 4.4.12. SK Innovation Co. Ltd.
  13. 4.4.13. SVOLT Energy Technology Co. Ltd. (SVOLT)
  14. 4.4.14. TOSHIBA Corp.
5. KEY STRATEGIC QUESTIONS FOR EV BATTERY PACK CEOS
6. APPENDIX
1. 6.1. Global Overview
  1. 6.1.1. Overview
  2. 6.1.2. Porter’s Five Forces Framework
  3. 6.1.3. Global Value Chain Analysis
  4. 6.1.4. Market Dynamics (DROs)
2. 6.2. Sources & References
3. 6.3. List of Tables & Figures
4. 6.4. Primary Insights
5. 6.5. Data Pack
6. 6.6. Glossary of Terms

List of Tables & Figures

Figure 1:
ELECTRIC VEHICLE SALES, BY BODY TYPE, UNITS, EUROPE, 2017 - 2029

Figure 2:
ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, EUROPE, 2023

Figure 3:
ELECTRIC VEHICLE SALES, BY MAJOR OEMS, UNITS, EUROPE, 2023

Figure 4:
BEST-SELLING EV MODELS, UNITS, EUROPE, 2023

Figure 5:
OEMS MARKET SHARE BY ELECTRIC VEHICLE BATTERY CHEMISTRY, VOLUME %, EUROPE, 2023

Figure 6:
ELECTRIC VEHICLE BATTERY CELL AND PACK PRICE, USD, EUROPE, 2017 - 2029

Figure 7:
ELECTRIC VEHICLE KEY BATTERY MATERIAL PRICE, BY MATERIAL, USD, EUROPE, 2017 - 2029

Figure 8:
ELECTRIC VEHICLE BATTERY PRICE, BY BATTERY CHEMISTRY, USD, EUROPE, 2017 - 2029

Figure 9:
EV BATTERY PACK CAPACITY AND EFFICIENCY, KM/KWH, EUROPE, 2023

Figure 10:
UPCOMING EV MODELS, BY BODY TYPE, UNITS, EUROPE, 2023

Figure 11:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, KWH, EUROPE, 2017 - 2029

Figure 12:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, USD, EUROPE, 2017 - 2029

Figure 13:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY BODY TYPE, KWH, EUROPE, 2017 - 2029

Figure 14:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY BODY TYPE, USD, EUROPE, 2017 - 2029

Figure 15:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VOLUME SHARE (%), EUROPE, 2022 & 2029

Figure 16:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2022 & 2029

Figure 17:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY BUS, KWH, EUROPE, 2017 - 2029

Figure 18:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY BUS, USD, EUROPE, 2017 - 2029

Figure 19:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 20:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY LCV, KWH, EUROPE, 2017 - 2029

Figure 21:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY LCV, USD, EUROPE, 2017 - 2029

Figure 22:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 23:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY M&HDT, KWH, EUROPE, 2017 - 2029

Figure 24:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY M&HDT, USD, EUROPE, 2017 - 2029

Figure 25:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 26:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY PASSENGER CAR, KWH, EUROPE, 2017 - 2029

Figure 27:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY PASSENGER CAR, USD, EUROPE, 2017 - 2029

Figure 28:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 29:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY PROPULSION TYPE, KWH, EUROPE, 2017 - 2029

Figure 30:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY PROPULSION TYPE, USD, EUROPE, 2017 - 2029

Figure 31:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, PROPULSION TYPE, VOLUME SHARE (%), EUROPE, 2022 & 2029

Figure 32:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, PROPULSION TYPE, VALUE SHARE (%), EUROPE, 2022 & 2029

Figure 33:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY BEV, KWH, EUROPE, 2017 - 2029

Figure 34:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY BEV, USD, EUROPE, 2017 - 2029

Figure 35:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 36:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY PHEV, KWH, EUROPE, 2017 - 2029

Figure 37:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY PHEV, USD, EUROPE, 2017 - 2029

Figure 38:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 39:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY BATTERY CHEMISTRY, KWH, EUROPE, 2017 - 2029

Figure 40:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY BATTERY CHEMISTRY, USD, EUROPE, 2017 - 2029

Figure 41:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BATTERY CHEMISTRY, VOLUME SHARE (%), EUROPE, 2022 & 2029

Figure 42:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BATTERY CHEMISTRY, VALUE SHARE (%), EUROPE, 2022 & 2029

Figure 43:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY DELETE, KWH, EUROPE, 2017 - 2029

Figure 44:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY DELETE, USD, EUROPE, 2017 - 2029

Figure 45:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 46:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY LFP, KWH, EUROPE, 2017 - 2029

Figure 47:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY LFP, USD, EUROPE, 2017 - 2029

Figure 48:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 49:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY NCA, KWH, EUROPE, 2017 - 2029

Figure 50:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY NCA, USD, EUROPE, 2017 - 2029

Figure 51:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 52:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY NCM, KWH, EUROPE, 2017 - 2029

Figure 53:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY NCM, USD, EUROPE, 2017 - 2029

Figure 54:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 55:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY NMC, KWH, EUROPE, 2017 - 2029

Figure 56:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY NMC, USD, EUROPE, 2017 - 2029

Figure 57:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 58:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY OTHERS, KWH, EUROPE, 2017 - 2029

Figure 59:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY OTHERS, USD, EUROPE, 2017 - 2029

Figure 60:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 61:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY CAPACITY, KWH, EUROPE, 2017 - 2029

Figure 62:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY CAPACITY, USD, EUROPE, 2017 - 2029

Figure 63:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, CAPACITY, VOLUME SHARE (%), EUROPE, 2022 & 2029

Figure 64:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, CAPACITY, VALUE SHARE (%), EUROPE, 2022 & 2029

Figure 65:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, KWH, EUROPE, 2017 - 2029

Figure 66:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY 15 KWH TO 40 KWH, USD, EUROPE, 2017 - 2029

Figure 67:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 68:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, KWH, EUROPE, 2017 - 2029

Figure 69:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY 40 KWH TO 80 KWH, USD, EUROPE, 2017 - 2029

Figure 70:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 71:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY ABOVE 80 KWH, KWH, EUROPE, 2017 - 2029

Figure 72:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY ABOVE 80 KWH, USD, EUROPE, 2017 - 2029

Figure 73:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 74:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY LESS THAN 15 KWH, KWH, EUROPE, 2017 - 2029

Figure 75:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY LESS THAN 15 KWH, USD, EUROPE, 2017 - 2029

Figure 76:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 77:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY BATTERY FORM, KWH, EUROPE, 2017 - 2029

Figure 78:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY BATTERY FORM, USD, EUROPE, 2017 - 2029

Figure 79:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BATTERY FORM, VOLUME SHARE (%), EUROPE, 2022 & 2029

Figure 80:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BATTERY FORM, VALUE SHARE (%), EUROPE, 2022 & 2029

Figure 81:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY CYLINDRICAL, KWH, EUROPE, 2017 - 2029

Figure 82:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY CYLINDRICAL, USD, EUROPE, 2017 - 2029

Figure 83:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 84:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY POUCH, KWH, EUROPE, 2017 - 2029

Figure 85:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY POUCH, USD, EUROPE, 2017 - 2029

Figure 86:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 87:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY PRISMATIC, KWH, EUROPE, 2017 - 2029

Figure 88:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BY PRISMATIC, USD, EUROPE, 2017 - 2029

Figure 89:
BREAKDOWN OF EUROPE EV BATTERY PACK MARKET, BODY TYPE, VALUE SHARE (%), EUROPE, 2017-2029

Figure 90:
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Figure 168:
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Europe 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. France, Germany, Hungary, Italy, Poland, Sweden, UK, Rest-of-Europe are covered as segments by Country.

Europe has seen significant growth in the adoption of pure battery electric vehicles (BEVs) and electric buses driven by government incentives, stricter emissions regulations, and advancements in battery technology. According to a report by the European Alternative Fuels Observatory, the number of electric vehicles in Europe reached 1.4 million in 2020, with BEVs accounting for 74% of the total. The electric bus market in Europe also experienced growth, recording a CAGR of 16.2% from 2017 to 2022.
The growing demand for battery packs in the electric vehicle market is driven by the increasing battery density and range and the declining battery costs. Battery technology has been evolving rapidly, and the energy density of lithium-ion batteries has already doubled over the past decade, allowing for longer ranges on a single charge. Battery costs have also declined significantly, with the average cost of lithium-ion batteries for electric vehicles declining by 89% from 2010 to 2020. The cost is expected to further decline to USD 58/kWh by 2030. The trend of solid-state batteries is also increasing, with companies such as Toyota and Volkswagen investing heavily in the technology.
In the forecast period (2023-2029), the European market for electric vehicle battery packs is anticipated to expand significantly. It is anticipated to register a CAGR of 16.5% over the forecast period as a result of the rising demand for electric cars. Higher energy density, longer ranges, and quicker charging times are just a few of the battery technology developments that are anticipated to help the industry grow. Opportunities for recycling and reusing battery packs are also expected to abound in the future, further driving the battery pack market in Europe.

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

Country
		France
		Germany
		Hungary
		Italy
		Poland
		Sweden
		UK
		Rest-of-Europe

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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