Europe EV Battery Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitors, Solid-state Batteries), Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Form, Application, End User, and Country—Forecast to 2029

Europe EV Battery Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitors, Solid-state Batteries), Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Form, Application, End User, and Country—Forecast to 2029

European EV Batteries Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitors, Solid-state Batteries), Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Form, Application, End User, and Country—Forecast to 2029

The research report titled, European EV Batteries Market by Type (Li-ion, Ni-MH, SLA, Ultracapacitors, Solid-state Batteries), Capacity (<50 kWh, 51-100 kWh, 101-300 kWh, >300 kWh), Bonding Type (Wire, Laser), Form, Application, End-user, and Country—Forecast to 2029, provides an in-depth analysis of the European EV batteries market across countries and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecast till 2028. The European EV Batteries Market is expected to reach a value of $94.41 billion by 2029, at a CAGR of 45.8% during the forecast period 2022–2029.

The growth of this market is mainly attributed to factors, such as the rising adoption of EVs, decreasing battery prices, and increasing investment by leading automotive OEMs to secure battery supply chains for their future electric vehicles. The rising adoption of electric mobility in emerging economies, growing investments in developing lithium-ion battery capacity, and growing deployment of battery-as-a-service provide significant growth opportunities for players operating in this market.

The study offers a comprehensive analysis of the European EV batteries market based on type (lithium-ion battery, sealed lead acid battery, nickel-metal hydride battery, ultracapacitors, solid-state batteries, and other batteries), capacity (less than 50 kWh, 51 kWh to 100 kWh, 101 kWh to 300 kWh, and more than 300 kWh), bonding type (wire bonding, and laser bonding), form (prismatic, cylindrical, and pouch), application (electric cars, light commercial vehicles, heavy commercial vehicles, e-scooters and motorcycles, and e-bikes), end user (electric vehicle OEMs, and battery swapping stations), and country. The study also evaluates industry competitors and analyzes the market at the country level.

Based on type, the European EV batteries market is mainly segmented into lithium-ion battery, sealed lead acid battery, nickel-metal hydride battery, ultracapacitors, solid-state battery, and other batteries. The solid-state battery segment is expected to witness the highest growth rate once it gets commercialized. As per Meticulous Research® analysis, the commercialization of solid-state batteries is expected to occur from 2025. This segment's high market growth rate is because a solid-state battery has a higher energy density than a Li-ion battery that uses liquid electrolyte solution. A solid-state battery can effectively increase the energy density per unit area as compared to lithium-ion batteries. Because of these properties, a solid-state battery pack will have a higher capacity than a lithium-ion battery of the same size.

Based on capacity, the European EV batteries market is mainly segmented into less than 50kWh, 51kWh to 100kWh, 101kWh to 300kWh, and more than 300kWh. The 101kWh to 300kWh segment is expected to grow at the highest CAGR during the forecast period. This segment's high growth rate during the forecast period is mainly because 101kWh to 300kWh power capacity batteries are widely used in medium-sized EVs such as light commercial vehicles and utility vehicles. The adoption of these EVs is increasing due to the rise in fuel prices and government initiatives to lower fleet emissions of logistics and public transportation. Also, the increasing launch of new EVs by automotive OEMs for electrification of logistics and public transport fleets and increasing adoption of electric vehicles by e-commerce companies such as Amazon and UPS are expected to support the market's growth during the forecast period.

Based on bonding type, the European EV batteries market is mainly segmented into wire bonding and laser bonding. The laser bonding segment is expected to grow at the highest CAGR during the forecast period. This segment's high market growth rate during the forecast period is mainly due to its ability to withstand higher currents, offer the advantages of narrow welds, high welding speed, and low heat level, which is important for battery tab welding chemicals within the batteries are heat sensitive. Laser welding is a reliable technology to connect battery cells and achieve fast, automated, precise production of battery pack conductive joints. Lasers offer the advantages of precision and non-contact welding, which can be adapted to fit small areas with low accessibility using a concentrated heat source.

Based on form, the European EV batteries market is mainly segmented into prismatic, cylindrical, and pouch. The pouch segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to its higher energy density compared with the same weight of prismatic cells, more safety performance, and lower internal resistance. A pouch cell's energy storage capacity is much greater in a given physical space than cylindrical cells. Leading automotive and battery OEMs are investing in pouch cell formats for powering their upcoming EVs.

Based on application, the European EV batteries market is segmented into electric cars, light commercial vehicles, heavy commercial vehicles, e-scooters & motorcycles, and e-bikes. The light commercial vehicle segment is expected to grow at the highest CAGR during the forecast period. This segment's high growth rate during the forecast period is attributed to the increasing shift of retail MNCs and transport fleet operators to electric light commercial vehicles, growing awareness regarding the role of electric vehicles in reducing emissions, increase in demand for electric vehicles to reduce fleet emissions, and stringent government rules and regulations towards vehicle emissions. The mass production of batteries and the attractive tax incentives offered by governments have further brought down vehicle costs, making electric light commercial vehicles much more cost-effective.

Based on end user, the European EV batteries market is segmented into electric vehicle OEMs and battery swapping stations. The battery swapping stations segment is expected to grow at the highest CAGR during the forecast period. This segment's high growth rate during the forecast period mainly because battery swapping service helps reduce EV acquisition costs, increase battery lifespan, and increase the launch of battery swapping services by various automotive start-up companies. Also, other mobility stakeholders such as oil refining companies are partnering with e-mobility start-ups to set up battery swapping stations, which is expected to support the market growth of this segment.

Based on country, the European EV batteries market is segmented into Germany, U.K., France, Italy, Spain, Poland, Hungary, Sweden, Norway, Austria, Belgium, Croatia, Finland, Greece, Ireland, Portugal, Romania, Slovakia, Rest of Europe (RoE). Germany is expected to account for the largest share and witness the highest growth rate in the European EV batteries during the forecast period, followed by France, the U.K., and Italy. The country's high market growth rate is attributed to the numerous gigafactories planned to be commissioned during the forecast period and the high adoption of electric mobility in the region.

Hungary is expected to hold the second position in terms of market growth rate during the forecast period. The country's high market growth rate is attributed to the growing automotive industry and growing investments by OEMs for the development of EV batteries.

The key players operating in the European EV batteries market are Northvolt AB (Sweden), Lithium Werks B.V. (Netherlands), Faradion Limited (U.K.), BMZ Group (Germany), DRÄXLMAIER Group (Germany), E4V (France), Britishvolt Limited (U.K.), Ilika plc (U.K.), and Johnson Matthey Plc (U.K.).

Key Questions Answered in the Report

Which are the high-growth market segments in terms of type, capacity, bonding type, form, application, end user, and country?
What is the historical market size for the European EV batteries market?
What are the market forecasts and estimates for the period 2022–2029?
What are the major drivers, restraints, opportunities, and challenges in the European EV batteries market?
Who are the major players operating in the European EV batteries market, and what shares of the market do they hold?
How is the competitive landscape for the European EV batteries market?
What are the recent developments in the European EV batteries market?
What are the different strategies adopted by the major players in the market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the European EV batteries market, and how do they compete with the other players?

Scope of the Report

European EV Batteries Market, by Type

Lithium-ion Batteries
Sealed Lead Acid Batteries
Nickel-metal Hydride Batteries
Ultracapacitors
Solid-state Batteries
Other Batteries

European EV Batteries Market, by Capacity

Less Than 50 kWh
51 kWh to 100 kWh
101 kWh to 300 kWh
More Than 300 kWh

European EV Batteries Market, by Bonding Type

Wire Bonding
Laser Bonding

European EV Batteries Market, by Form

Prismatic
Cylindrical
Pouch

European EV Batteries Market, by Application

Electric Cars
Battery Electric Vehicles
Lithium-ion Batteries
Nickel-metal Hydride Batteries
Ultracapacitors
Solid-state Batteries
Other Batteries
Plug-in Hybrid Electric Vehicles
Lithium-ion Batteries
Ultracapacitors
Solid-state Batteries
Other Batteries
Pure Hybrid Electric Vehicles
Lithium-ion Batteries
Nickel-metal Hydride Batteries
Ultracapacitors
Solid-state Batteries
Other Batteries
Light Commercial Vehicles
Heavy Commercial Vehicles
E-scooters & Motorcycles
E-bikes

European EV Batteries Market, by End User

Electric Vehicle OEMs
Battery Swapping Stations

European EV Batteries Market, by Country

Germany
U.K.
France
Italy
Spain
Poland
Hungary
Sweden
Norway
Austria
Belgium
Croatia
Finland
Greece
Ireland
Portugal
Romania
Slovakia
Rest of Europe (RoE)