Electric Vehicle Battery Market Share

APAC Market Forecast

The EV battery market in Asia Pacific is projected to generate the largest share of about 35% by the end of 2037. This growth could be owing to the growing production of electric vehicles. In 2021, the Asia-Pacific market for electric car production increased by double digits over the preceding year to 122,243 units. Moreover, this region also has the presence of major market players which is also boosting the market expansion in this region.

North American Market Analysis

The North America EV battery market is also estimated to have notable growth over the forecast period. The growth of the market can be attributed majorly to the increasing investment for boosting the manufacturing of electric vehicle. In the manufacturing of electric vehicles and batteries, the United States is now prepared to draw the greatest amount of foreign investment. Since President Biden's appointment in 2021, companies have announced investments totaling around USD 210 billion in the EV battery industry.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of electric vehicle battery is estimated at USD 166.26 billion.

The electric vehicle battery market size was valued at USD 148.34 billion in 2024 and is poised to cross USD 923.08 billion by the end of 2037, registering more than 15.1% CAGR during the forecast period i.e., between 2025-2037. The market growth is propelled by rise in number of new EV models, rising pollution from vehicles, and technological advancement in electric battery.

Asia Pacific industry is estimated to account for largest revenue share 35% by 2037, owing to growing production of electric vehicles in the region.

The major players in the market are Honda Motors Co, Ltd., Panasonic Corporation, LG Energy Solution Ltd., Contemporary Amperex Technology Co. Limited, and others.

Electric Vehicle Battery Market Share