Global high voltage battery market
Global high voltage battery market is projected to grow from USD 8.9 billion in 2018 to USD 89.1 billion by 2025, at a CAGR of 38.95% during the forecast period. The market growth is primarily driven by factors such as the increasing demand for higher acceleration and significant investments by governments toward smart transportation.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of the high voltage battery market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- (OEMs) and supply-side (battery manufacturers) across major regions, namely, North America, Europe, Asia Oceania, and the Rest of the World. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report.
Secondary Research
The secondary sources referred for this research study include automotive industry organizations such as the Organisation Internationale des Constructeurs d’Automobiles (OICA), corporate filings (such as annual reports, investor presentations, and financial statements), Factiva, Crunchbase, Bloomberg and trade, business, and automotive associations. Secondary data has been collected and analyzed to arrive at the overall market size, which is further validated by multiple industry experts.
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key playersÂ
The key players in the high voltage battery market are Tesla (US), BYD (China), Panasonic (Japan), LG Chem (South Korea), Samsung SDI (South Korea), and CATL (China). Additionally, the report covered 20 major players.
CATL (China) is also one of the leading players in the high voltage battery market. The company deals with major OEMs, such as PSA (France), BMW (Germany), Yutong Bus (China) , and Zhongtong Bus (China), across the globe. In addition, the company aims to have a global lithium-ion production capacity of 50 GWh by 2020. It has adopted the strategy of partnerships/collaborations/joint ventures/agreements/supply contracts to increase its presence in the high voltage battery market. In July 2018, CATL began cooperation with Ford-partner and EV manufacturer, Jiangling Motors. The duo is planning to do research and development on different vehicle models for their cooperation.
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High Voltage Battery Bus Market (At Selected Country Level)
The high voltage battery market is projected to grow at a CAGR of 38.95% from 2018 to 2025, and the market size is projected to grow from USD 8.9 billion in 2018 to USD 89.1 billion by 2025. The increasing demand for higher driving range vehicles, significant focus toward smart transportation, and advancement toward battery chemistry are expected to play a significant role in the growth of the high voltage battery market.
Key Questions addressed by the report
- What would be the expected year of commercialization for the solid-state battery? What would trigger the influx of this new battery technology?
- What would be the expected year of commercialization for heavy duty electric trucks?
- What would be the trend of battery cost over the next 5 years?
- What would be the share of high voltage battery vehicles in the total BEV sales of each vehicle type?
- How is battery chemistry different as per different vehicle types? How is the trend going to change in the coming years?
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Source:Â Global High Voltage Battery Market by Battery Capacity, Business Application, Geographic Scope