France Electric Vehicle Battery Manufacturing Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.56 Billion |
| Market Size (2029) | USD 1.64 Billion |
| CAGR (2024 - 2029) | 24.17 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
France Electric Vehicle Battery Manufacturing Market Analysis
The France Electric Vehicle Battery Manufacturing Market size is estimated at USD 0.56 billion in 2024, and is expected to reach USD 1.64 billion by 2029, at a CAGR of 24.17% during the forecast period (2024-2029).
- Over the medium term, the increasing adoption of electric vehicles and related investments in electric vehicle battery manufacturing units are likely going to drive the market.
- Conversely, the lack of raw material reserves might hinder the market's growth during the forecasted period.
- Nevertheless, the government's ambitious targets for the expansion of e-mobility and curbing carbon emissions from the transportation sector are likely to present market opportunities for the market players during the forecasted period.
France Electric Vehicle Battery Manufacturing Market Trends
Lithium-ion Battery Manufacturing to Hold Significant Share
- The lithium-ion battery comprises a cathode, an anode, and a separator that isolates the two electrodes. The separator, moistened with electrolyte, acts as a catalyst, facilitating the movement of ions from the cathode to the anode during charging and reversing the process during discharging. Its reasonable cost, high specific energy, and ability to endure numerous charge-discharge cycles render it ideal for electric vehicles.
- As Europe's automotive sector pushes towards decarbonization, investing in gigafactories—large-scale rechargeable battery manufacturing facilities—becomes crucial. In September 2023, Macquarie Asset Management, the primary investor in Verkor, a French battery manufacturer, is amplifying Lithium-ion battery production with an investment close to USD 2.17 billion.
- In February 2024, ACC, a French firm, clinched a significant USD 4.4 billion for establishing three gigafactories focused on lithium-ion battery cell production. These facilities will be constructed in France, complemented by investments in research and development. The debt package, solely supported by a consortium of prominent commercial banks—BNP Paribas, Deutsche Bank, ING, and Intesa Sanpaolo—also garners backing from Bpifrance, Euler Hermes, and SACE.
- Similarly, VoltR, a company based in Pays de la Loire, France, specializing in rejuvenating lithium batteries, recently announced a funding achievement. The firm raised USD 4.3 million in its inaugural fundraising round, with significant backing from C4 Ventures and Exergon. With this funding, VoltR aims to set up its first lithium battery reconditioning facility within the next two years. Such investments are poised to bolster France's electric vehicle battery manufacturing market during the forecast period.
- Most electric vehicles are now integrating lithium-ion batteries. According to the International Energy Agency, electric vehicle sales in France have been on the rise in recent years. In 2023, sales of electric cars, encompassing both plug-in hybrids and battery electric vehicles, reached 470,000 units, marking a 38% increase from the prior year. This upward trajectory in electric car sales is anticipated to bolster France's electric vehicle battery manufacturing market in the forecast period.
- Given these trends, France's electric vehicle battery manufacturing market is set for rapid growth in the forecast period.
Government Emphasis to Introduce E-Mobility
- In France, the market for battery manufacturing equipment is on the rise, driven by heightened awareness of environmental concerns and efforts to curb carbon dioxide emissions, especially from the transportation sector. Consequently, government initiatives are poised to benefit the electric vehicle battery manufacturing market during the forecast period.
- In May 2024, the French government sealed a deal with the automotive sector, ambitiously targeting 800,000 annual electric vehicle (EV) sales by 2027. This target, a centerpiece of the 2024-2027 sectoral agreement, emphasizes nearly tripling sales of electric passenger cars (PCs) in four years and significantly boosting battery electric light-duty vehicles (LDVs). Such moves are set to drive the growth of France's electric vehicle manufacturing market in the coming years.
- Industry players in France are ramping up the nation's electric vehicle production. For example, the Renault Group, through its new venture Renault ElectriCity, has centralized its electric vehicle manufacturing in Douai, Maubeuge, and Ruitz. Renault's ambitious goal is to produce 400,000 electric vehicles annually in France by 2025, aiming to establish the nation as Europe's leading hub for competitive and efficient electric vehicle production. Achieving such targets could further invigorate the electric vehicle manufacturing market in the years ahead.
- New government subsidies are set to boost electric vehicle sales in France. In September 2023, the government announced plans for these subsidies, part of a draft law to strengthen the "green industry" and accelerate "reindustrialization." The intent is not just to enhance domestic production but also to reduce dependence on imported electric vehicles, especially from China.
- Moreover, these initiatives in France are poised to elevate electric vehicle sales across Europe. According to the International Energy Agency, Europe recorded sales of 3.3 million electric cars in 2023, marking a 22% increase from the previous year. This upward trend is expected to persist.
- As a result, France's electric vehicle manufacturing market is projected to experience significant growth during the forecast period.
France Electric Vehicle Battery Manufacturing Industry Overview
The electric vehicle battery manufacturing equipment market is moderate. Some of the major players (not in particular order) include Verkor, Contemporary Amperex Technology Co. Limited, Saft Groupe S.A., Tesla Inc., and FIAMM SpA.
France Electric Vehicle Battery Manufacturing Market Leaders
-
Verkor
-
FIAMM SpA
-
Contemporary Amperex Technology Co. Ltd
-
Tesla Inc.
-
Saft Groupe S.A.
*Disclaimer: Major Players sorted in no particular order
France Electric Vehicle Battery Manufacturing Market News
- May 2024: Stellantis has teamed up with the French Alternative Energies and Atomic Energy Commission (CEA) to pioneer next-generation battery cell technology. By merging Stellantis' engineering expertise with CEA's technological innovations, the collaboration seeks to produce advanced battery cells. These cells are designed to offer superior performance, a longer lifespan, and a diminished environmental footprint. Such advancements are poised to bolster France's electric vehicle battery manufacturing market.
- January 2024: ProLogium Technology Co, a Taiwanese manufacturer of electric vehicle batteries, is set to kick off mass production at its new factory in France by 2027. In a significant move, the company poured in around USD 5.27 billion in Dunkirk in 2023 to set up this battery factory, bolstering France's Electric Vehicle Battery Manufacturing Market.
France Electric Vehicle Battery Manufacturing Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Investments to Enhance the battery production capacity
4.5.1.2 Decline in cost of battery raw materials
4.5.2 Restraints
4.5.2.1 Lack of Raw Material Reserves
4.6 Supply Chain Analysis
4.7 PESTLE ANALYSIS
4.8 Investment Analysis
5. MARKET SEGMENTATION
5.1 Battery
5.1.1 Lithium-ion
5.1.2 Lead-Acid
5.1.3 Nickel Metal Hydride Battery
5.1.4 Others
5.2 Battery Form
5.2.1 Prismatic
5.2.2 Pouch
5.2.3 Cylindrical
5.3 Vehicle
5.3.1 Passenger Cars
5.3.2 Commercial Vehicles
5.3.3 Others
5.4 Propulsion
5.4.1 Battery Electric Vehicle
5.4.2 Hybrid Electric Vehicle
5.4.3 Plug-in Hybrid Electric Vehicle
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 BYD Co. Ltd
6.3.2 Contemporary Amperex Technology Co. Limited
6.3.3 Duracell Inc
6.3.4 EnerSys
6.3.5 Tesla Inc.
6.3.6 FIAMM SpA
6.3.7 Verkor
6.3.8 LG Chem Ltd
6.3.9 Saft Groupe S.A
6.3.10 Panasonic Corporation
- *List Not Exhaustive
6.4 List of Other Prominent Companies
6.5 Market Ranking Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Long-term ambitious targets for electric vehicles
France Electric Vehicle Battery Manufacturing Industry Segmentation
Electric vehicle Battery Manufacturing consists of all the processes and infrastructure required for the production of batteries, such as lithium-ion, Nickel Metal Hydride Battery and lead-acid batteries, particularly used in electric vehicles.
The electric vehicle battery manufacturing market is segmented by Battery, Battery Form, Vehicle, and Propulsion. By Battery, the market is segmented into Lithium-ion, Lead-acid, Nickel Metal Hydride Battery, and others. By Battery Form, the market is segmented into Prismatic, Pouch, and Cylindrical. By vehicle, the market is segmented into Passenger Cars, Commercial Vehicles, and Others. By Propulsion, the market is segmented into Battery Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle. For each segment, the market sizing and forecasts have been done based on revenue (USD).
| Battery | |
| Lithium-ion | |
| Lead-Acid | |
| Nickel Metal Hydride Battery | |
| Others |
| Battery Form | |
| Prismatic | |
| Pouch | |
| Cylindrical |
| Vehicle | |
| Passenger Cars | |
| Commercial Vehicles | |
| Others |
| Propulsion | |
| Battery Electric Vehicle | |
| Hybrid Electric Vehicle | |
| Plug-in Hybrid Electric Vehicle |
France Electric Vehicle Battery Manufacturing Market Research Faqs
How big is the France Electric Vehicle Battery Manufacturing Market?
The France Electric Vehicle Battery Manufacturing Market size is expected to reach USD 0.56 billion in 2024 and grow at a CAGR of 24.17% to reach USD 1.64 billion by 2029.
What is the current France Electric Vehicle Battery Manufacturing Market size?
In 2024, the France Electric Vehicle Battery Manufacturing Market size is expected to reach USD 0.56 billion.
Who are the key players in France Electric Vehicle Battery Manufacturing Market?
Verkor, FIAMM SpA, Contemporary Amperex Technology Co. Ltd, Tesla Inc. and Saft Groupe S.A. are the major companies operating in the France Electric Vehicle Battery Manufacturing Market.
What years does this France Electric Vehicle Battery Manufacturing Market cover, and what was the market size in 2023?
In 2023, the France Electric Vehicle Battery Manufacturing Market size was estimated at USD 0.42 billion. The report covers the France Electric Vehicle Battery Manufacturing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the France Electric Vehicle Battery Manufacturing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
France Electric Vehicle Battery Manufacturing Industry Report
Statistics for the 2024 France Electric Vehicle Battery Manufacturing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. France Electric Vehicle Battery Manufacturing analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
