EV Battery Cell and Pack Materials Market Analysis and Global Forecast to 2030

1. EV Battery Cell and Pack Materials Market Analysis, Statistics, Revenue, Demand and Trend Analysis Research Report by 2030

2. Global EV Battery Cell and Pack Materials Market is anticipated witness unprecedented growth between 2022 and 2030, owing to the escalating efforts by the leading industry players to develop batteries with improved capabilities to enhance the existing electric mobility. This will aid the transition toward a sustainable future. Electric vehicles have gained tremendous popularity over recent years and are seen as an opportunity to reduce carbon and GHG emissions in the world battling climate change. This has encouraged battery manufacturers globally to opt for EV battery cells and packs materials with lightweight, lower prices, and other remarkable characteristics. For instance, in March 2022, Panasonic Corporation reported that its Energy Company will set up a new production unit at its Wakayama Factory in Japan to fabricate new, large 4680 cylindrical lithium-ion batteries for EVs. The new lithium batteries will have fivefold capacity as compared to smaller versions and offer long-term reliability. The EV battery cell and pack materials industry is categorized based on electric vehicles, batteries, and region. With respect to electric vehicles, the fuel cell electric vehicle (FCEV) segment is anticipated to cross USD 991 million, witnessing over 14% CAGR through 2030. These hydrogen-powered FCEVs have a much more efficient internal combustion engine than their conventional counterparts. They are known for producing no tailpipe emissions. The consistently expanding hydrogen infrastructure and the increasing efforts of several regulatory authorities to make these vehicles more accessible, affordable, and safe mode of transportation will further increase segment revenues by 2030.

3. In terms of batteries, the ultracapacitors segment is expected to be worth more than USD 884 million by 2030, owing to their large power density, extreme temperature tolerance, high reliability, faster charging, and extended lifespan. The emergence of ultracapacitor as a powerful alternate energy source due to its ability to provide quick bursts of energy during extreme power demands, capture access power, and quickly restore energy will foster its adoption over the next 8 years. Besides, their increasing application in vehicles operating in cold weather conditions or when batteries are drained due to in-cab electric loads or repetitive starting may bolster the demand for ultracapacitors between 2022 and 2030. Regionally, the Latin America EV battery cell and pack materials market may depict over 12.5% growth rate over the next 8 years and record a valuation more than USD 2 billion by 2030. The regional industry is fueled by the growing emphasis on the utilization of sustainable technologies. The increasing grants and subsidies, coupled with the favorable FDI policies have escalated the adoption of electric vehicles across Latin America. Besides, stringent emission mandates and environmental norms will further boost the industry expansion.

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