Hybrid Ev Battery Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

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Market Snapshot

CAGR:8.84
2023
2032

Source: Market Expertz

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Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 8.84
Energy & Power-companies
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Report Overview

Hybrid EV Battery Market Analysis By Application (Passenger Cars, Commercial Vehicles), By Battery Type (Lithium-Ion, Nickel-Metal Hydride, Solid-State Batteries), and By Region Forecast to 2032:

The Hybrid EV Battery Market is poised for significant growth, with a projected Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. Several key factors are influencing the expansion of this market, including the increasing adoption of hybrid electric vehicles (HEVs), advancements in battery technology, and the growing emphasis on sustainability and reduced emissions in the automotive sector. Hybrid EV batteries play a crucial role in providing efficient and eco-friendly power solutions for a wide range of vehicles.

Hybrid EV Battery Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Hybrid EV Battery Market is the rising adoption of hybrid electric vehicles (HEVs). HEVs combine an internal combustion engine with an electric propulsion system, reducing fuel consumption and greenhouse gas emissions. The demand for HEVs is driven by both environmental concerns and stringent fuel efficiency regulations, leading to a growing need for advanced hybrid EV batteries.

Furthermore, advancements in battery technology, particularly in lithium-ion and solid-state batteries, are playing a crucial role in driving market growth. These battery types offer higher energy density, longer cycle life, and faster charging capabilities, making them attractive options for HEVs.

Trends:

An emerging trend in the Hybrid EV Battery Market is the development and adoption of solid-state batteries. Solid-state batteries offer several advantages over traditional lithium-ion batteries, including increased energy density, enhanced safety, and faster charging. These characteristics are particularly appealing to automakers looking to improve the performance and range of hybrid and electric vehicles.

Additionally, the commercial vehicle segment is witnessing increased interest in hybrid electric powertrains. Commercial vehicles, such as buses and delivery trucks, are incorporating hybrid technology to reduce fuel consumption and emissions while meeting the demands of urban transportation.

Restraints:

One of the key challenges hindering the growth of the Hybrid EV Battery Market is the high cost associated with advanced battery technologies, such as solid-state batteries. While these technologies offer significant benefits, the initial investment required for research, development, and production can result in higher vehicle costs, which may deter some consumers and commercial operators.

Moreover, the recycling and disposal of hybrid EV batteries pose environmental concerns. Developing sustainable methods for recycling and disposing of these batteries is essential to minimize their environmental impact and ensure compliance with regulations.

Hybrid EV Battery Market Segmentation By Application:

  • Passenger Cars: Hybrid EV batteries are widely used in passenger cars to improve fuel efficiency and reduce emissions. Consumers are increasingly opting for HEVs as eco-friendly transportation options.
  • Commercial Vehicles: Commercial vehicles, including buses and trucks, are adopting hybrid electric powertrains to meet stringent emissions regulations and reduce operating costs.

Hybrid EV Battery Market Segmentation By Battery Type:

  • Lithium-Ion: Lithium-ion batteries are the most common type used in HEVs, offering a balance of energy density and performance.
  • Nickel-Metal Hydride: Nickel-metal hydride batteries remain a viable option, known for their reliability and durability in hybrid applications.
  • Solid-State Batteries: Solid-state batteries are an emerging technology with the potential to revolutionize the hybrid EV market, offering higher energy density and safety.

Regional Overview:


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  • North America is expected to be a significant contributor to the global Hybrid EV Battery Market, accounting for approximately 38% of the market's growth during the forecast period. The region's robust automotive industry, government incentives for electric and hybrid vehicles, and growing environmental awareness drive market adoption.
  • Europe is another prominent market, with countries like Germany and the United Kingdom leading in hybrid and electric vehicle adoption. European automakers are investing heavily in hybrid technologies, fostering market growth.

Hybrid EV Battery Market Customer Landscape:

The Hybrid EV Battery Market report encompasses the customer adoption lifecycle, ranging from early adopters to mainstream users. It delves into adoption rates across different regions based on environmental policies and consumer preferences, including key purchase criteria and performance considerations for hybrid EV batteries to assist companies in formulating effective growth strategies.

Major Hybrid EV Battery Market Companies:

Companies in the hybrid EV battery market are employing diverse strategies, including research and development, partnerships, and technological innovation, to strengthen their market presence.

Example companies include:

  1. Panasonic Corporation: Panasonic is a leading manufacturer of lithium-ion batteries for hybrid and electric vehicles, known for its high-quality battery cells.
  2. LG Chem Ltd.: LG Chem is a global supplier of advanced lithium-ion batteries for various applications, including hybrid electric vehicles.
  3. Samsung SDI Co., Ltd.: Samsung SDI specializes in the development of advanced battery solutions, including those for hybrid and electric vehicles.

The competitive landscape analysis in the report provides insights into 20 key market players, including:

  • BYD Company Limited
  • Contemporary Amperex Technology Co., Ltd. (CATL)
  • A123 Systems LLC
  • Hitachi, Ltd.
  • Toshiba Corporation
  • SK Innovation Co., Ltd.
  • GS Yuasa Corporation
  • Saft Groupe S.A.
  • Johnson Controls International plc
  • EnerSys

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on their technological expertise and market share.

Segment Overview:

The Hybrid EV Battery Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Million, 2019 - 2032):
    • Passenger Cars
    • Commercial Vehicles
  • Battery Type Outlook (USD Million, 2019 - 2032):
    • Lithium-Ion
    • Nickel-Metal Hydride
    • Solid-State Batteries
  • Geography Outlook (USD Million, 2019 - 2032):
    • North America
      • United States
      • Canada
    • Europe
      • Germany
      • United Kingdom
      • France
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • South Korea
      • Rest of Asia-Pacific
    • Middle East & Africa
      • United Arab Emirates
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America

TABLE OF CONTENTS: GLOBAL HYBRID EV BATTERY MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. HYBRID EV BATTERY MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Hybrid EV Battery Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Power Of Suppliers

    4.5.2. Power Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. HYBRID EV BATTERY MARKET BY Type INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Lead-Acid

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Lithium-Ion

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4. Nickel-Based

    5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. HYBRID EV BATTERY MARKET BY Application INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Hybrid EV

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Plug-In Hybrid EV

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. HYBRID EV BATTERY MARKET REGIONAL OUTLOOK

7.1. Hybrid EV Battery Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.2. North America Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Hybrid EV Battery Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Hybrid EV Battery Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Hybrid EV Battery Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Hybrid EV Battery Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Hybrid EV Battery Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. Toshiba Corporation (Japan)

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2. LG Chem (South Korea)

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3. Samsung Sdi Co. Ltd (South Korea)

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4. Panasonic Corporation (Japan)

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5. Saft (France)

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6. GS Yuasa International Ltd.  (Japan)

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7. BYD Co. Ltd. (China)

    9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8. Contemporary Amperex Technology Co., Ltd. (China)

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9. Hitachi Ltd. (Japan)

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10. Nissan Motor Corporation (Japan)

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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