Lithium-ion batteries - scenarios of cost and market growth

Lithium-ion batteries - scenarios of cost and market growth

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In the near-term, Europe is expected to have sufficient manufacturing capacity to meet domestic demand.

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Europe Battery Market Size

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Study Period - Base Year For Estimation Forecast Data Period - Historical Data Period - CAGR 13.44 % Market Concentration Low

Major Players

*Disclaimer: Major Players sorted in no particular order

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Europe Battery Market Analysis

Europe battery market is estimated to be at USD 23.34 billion by the end of this year and is projected to reach USD 43.84 billion in the next five years, registering a CAGR of 13.44% during the forecast period.

• Over the medium term, major factors driving the market include declining lithium-ion battery prices, rapid adoption of electric vehicles, growing renewable sector, and increased sale of consumer electronics.
• On the other hand, the demand-supply mismatch of raw materials will likely hinder market growth during the forecast period.
• Nevertheless, the increasing demand for the fast delivery of products pushed for improvements in the logistics and distribution business in the European region will likely provide ample opportunities for Li-ion batteries in the material handling industry in the coming years.
• Germany is expected to witness significant growth during the forecast years due to the increasing automotive industry during forecast period.

Europe Battery Market Trends

Automotive Segment Expected to Hold Significant Share

• The automotive sector is expected to be one of the major end-user segments for lithium-ion batteries in the near future. The penetration of electric vehicles is anticipated to provide a massive impetus for the lithium-ion battery industry's growth.
• Various vehicle types are now available globally, featuring increasing degrees of hybridization and electrification. There are various types of vehicles, including hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles, and electric vehicles (EVs).
• As the initiator of the Paris Climate Pact, Europe promoted the shift from internal combustion vehicles to EVs and has registered high growth over the recent period.
• In May , France announced to launch its first battery factory for electric cars. Construction of the battery industry is under the reindustrialisation' plan for France. The 'gigafactory' opening in Billy-Berclau is owned by Automotive Cells Company, a partnership between energy giant TotalEnergies, Mercedes-Benz and Stellantis, which produces a range of brands including Fiat, Peugeot, and Chrysler.
• Further, electric vehicle battery manufacturing has also gained momentum in Sweden in recent years. The Swedish lithium-ion battery manufacturer, Northvolt, raised around USD 2.75 billion in June to expand its factory in Northern Sweden to keep up with the growing demand for electric cars.
• According to the Ministry of Ecological Transition and Territorial Cohesion, approximately 402,700 battery electric vehicles were part of the French fleet of private cars in , an increase of 64.4% over .
• Therefore, owing to the above points, the automotive segment is expected to dominate the European battery market during the forecast period.

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Germany to Witness Significant Growth

• Moreover, the automobile industry in Germany is one of the country's largest and most significant industries. German car manufacturers are known for producing high-quality, innovative, popular vehicles worldwide. The German government has played an important role in supporting the automobile industry, providing financial incentives for research and development, and promoting policies encouraging electric vehicle adoption.
• According to Federal Motor Transport Authority, Germany has seen a significant increase in the number of new electric cars registered in recent years. So far, in , 470,559 new electric cars have been registered, representing a growth of 32.19% compared with the previous year's figures.
• Germany has been attracting investments from other countries worldwide to develop lithium-ion battery manufacturing facilities. For instance, in March , Mercedes-Benz announced to set up green battery recycling factory in Germany. The plant will have an annual capacity of tonnes and will contribute to the production of more than 50,000 battery modules for new electric vehicles of the company.
• The country is expected to have fourteen million electric cars on the road by , which is 40% higher than the country's previous target set for , mainly due to attempts to comply with increasingly stringent emissions rules, leading to a rise in electric vehicle sales. Moreover, the country's government's target of reaching one million electric vehicles by was met in July .
• Moreover, there has been large-scale adoption of solar power in the country. According to Germany's Renewable Energy Act (EEG), the country has set a target of achieving a share of 40-45% of renewable energy sources out of the total energy consumption in the country by . As a result, there has been significant growth in solar installed capacity, as seen in the chart beside.
• As a result, owing to the increasing demand from the automotive and renewable sectors, the battery demand in Germany will likely witness significant growth in the coming years.

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Europe Battery Industry Overview

The Europe battery market is fragmented with the presence of a number of players. Some of the major players (not in particular order) include BYD Company Limited, Contemporary Amperex Technology Co. Limited, Saft Groupe S.A., Tesla Inc., and FIAMM SpA., among others.

Europe Battery Market Leaders

1. Saft Groupe SA

2. FIAMM SpA

3. BYD Co Ltd

4. Contemporary Amperex Technology Co. Ltd

5. Tesla Inc.

*Disclaimer: Major Players sorted in no particular order

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Europe Battery Market News

• May : Two electric vehicle battery manufacturers announced plans to spend around EUR 10 billion on factories in Europe. Both plants are expected to start production in after two years and supply batteries to European car producers.
• May : Li-Cycle Holdings Corp. and Glencore International AG announced signing a letter of intent to jointly study the feasibility of a hub facility in Italy. The Portovesme Hub would produce critical battery materials, including nickel, cobalt and lithium, from recycled battery content.

Europe Battery Market Report - Table of Contents

1. 1. INTRODUCTION

   1. 1.1 Scope of the Study

   2. 1.2 Market Definition

   3. 1.3 Study Assumptions

2. 2. EXECUTIVE SUMMARY

3. 3. RESEARCH METHODOLOGY

4. 4. MARKET OVERVIEW

   1. 4.1 Introduction

   2. 4.2 Market Size and Demand Forecast in USD billion, till

   3. 4.3 Recent Trends and Developments

   4. 4.4 Government Policies and Regulations

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   5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

         1. 4.5.1.1 Declining Lithium-ion Battery Prices

         2. 4.5.1.2 Rapid Adoption of Electric Vehicles

      2. 4.5.2 Restraints

         1. 4.5.2.1 The Demand-Supply Mismatch of Raw Materials

   6. 4.6 Supply Chain Analysis

   7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

5. 5. MARKET SEGMENTATION AND ANALYSIS

   1. 5.1 Type

      1. 5.1.1 Primary Battery

      2. 5.1.2 Secondary Battery

   2. 5.2 Technology

      1. 5.2.1 Lead-Acid Battery

      2. 5.2.2 Lithium-Ion Battery

      3. 5.2.3 Other Technologies

   3. 5.3 Application

      1. 5.3.1 Automotive (HEV, PHEV, and EV)

      2. 5.3.2 Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.))

      3. 5.3.3 Consumer Electronics

      4. 5.3.4 Other Applications

   4. 5.4 Geography

      1. 5.4.1 United Kingdom

      2. 5.4.2 Germany

      3. 5.4.3 France

      4. 5.4.4 Rest of Europe

6. 6. COMPETITIVE LANDSCAPE

   1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

   2. 6.2 Strategies Adopted by Leading Players

   3. 6.3 Company Profiles

      1. 6.3.1 BYD Company Limited

      2. 6.3.2 Contemporary Amperex Technology Co. Limited

      3. 6.3.3 Saft Groupe S.A.

      4. 6.3.4 Tesla Inc.

      5. 6.3.5 FIAMM SpA

      6. 6.3.6 Duracell Inc.

      7. 6.3.7 GS Yuasa Corporation

      8. 6.3.8 LG Energy Solutions, Ltd.

   4. *List Not Exhaustive

7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

   1. 7.1 Increasing Demand for the Fast Delivery of Products Pushed for Improvements in the Logistics and Distribution Business

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Europe Battery Industry Segmentation

A battery is a device that converts chemical energy contained within its active materials directly into electric energy by means of an electrochemical oxidation-reduction (redox) reaction.

European battery market is segmented by type, technology, application, and geography. By type, the market is segmented into primary batteries and secondary batteries. By technology, the market is segmented into lead-acid batteries, lithium-ion batteries, and other technologies. By application, the market is segmented into automotive batteries (HEV, PHEV, and EV), industrial batteries (motive, stationary (telecom, UPS, energy storage systems (ESS)), etc.), consumer electronics, and others. The report also covers the market size and forecasts for the battery market across major countries such as United Kingdom, Germany, France and Rest of Europe in the region. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

Type Primary Battery Secondary Battery Technology Lead-Acid Battery Lithium-Ion Battery Other Technologies Application Automotive (HEV, PHEV, and EV) Industrial Batteries (Motive, Stationary (Telecom, UPS, Energy Storage Systems (ESS), etc.)) Consumer Electronics Other Applications Geography United Kingdom Germany France Rest of Europe

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Europe Battery Market Research FAQs

What is the current Europe Battery Market size?

The Europe Battery Market is projected to register a CAGR of 13.44% during the forecast period (-)

Who are the key players in Europe Battery Market?

Saft Groupe SA, FIAMM SpA, BYD Co Ltd, Contemporary Amperex Technology Co. Ltd and Tesla Inc. are the major companies operating in the Europe Battery Market.

What years does this Europe Battery Market cover?

The report covers the Europe Battery Market historical market size for years: , , and . The report also forecasts the Europe Battery Market size for years: , , , , and .

What are the challenges faced by the European Battery Market?

The challenges faced by the European Battery Market are a) Safety concerns regarding battery disposal and environmental impact b) Potential issues with scalability and flexibility in battery production c) Dependence on raw materials and potential price fluctuations

Europe Battery Industry Report

The Europe battery market is poised for significant growth, driven by substantial investments in battery technologies and the increasing demand for electric vehicles (EVs) and industrial electrification. The market is segmented by type, technology, and application, with notable advancements in lithium-ion and lead-acid batteries. The automotive sector is expected to be a major end-user, fueled by the shift from internal combustion vehicles to EVs, supported by stringent government regulations on vehicle emissions. Additionally, the logistics and distribution sectors are pushing for high-performance battery-powered forklifts to meet the demand for fast delivery of goods. However, challenges such as scalability, flexibility issues, and safety concerns related to battery disposal and environmental impact may impede market growth. The introduction of innovative technologies like Nuclear Diamond Batteries (NDBs) offers promising opportunities, potentially transforming energy storage and generation across various industries. The market landscape is competitive, with numerous European battery manufacturers focusing on strategic initiatives to enhance their market presence. Statistics for the Europe battery market share, size, and revenue growth rate are provided by Mordor Intelligence' Industry Reports. The Europe battery analysis includes a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.

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