Global EV Batteries Plant Construction Market size, recorded a valuation of USD 11.3 billion in 2023, will demonstrate an 11.5% CAGR from 2024 to 2032, driven by government incentives and subsidies, coupled with innovations in battery technology. Financial support such as tax breaks and grants encourage investment in EV battery manufacturing infrastructure. Also, advancements in battery technology enhance production efficiency and performance, boosting demand for new plant construction. As governments push for cleaner energy solutions and technological progress accelerates, these factors collectively fuel expansion in the market, supporting increased production capacities and infrastructure development.
The overall EV batteries plant construction industry is classified based on battery, plant capacity, component, construction, and region.
The new construction segment held a 70% share in 2023 due to escalating investments in expanding production capacity. As the adoption of electric vehicles surges, driven by increasing demand and technological advancements, there is a growing need for new, state-of-the-art battery manufacturing facilities. Governments and private companies are investing heavily in building these advanced plants to meet market demands and improve charging infrastructure. This trend will ensure that the new construction segment retains a decent market share in the industry.
The control system and automation segment garnered USD 2.1 billion in 2023. As battery manufacturing grows more complex, advanced automation technologies and robotic systems are crucial for improving production efficiency and precision. These systems streamline critical processes like cell assembly, quality control, and material handling, leading to higher throughput and lower production costs. With the growing demand for high-performance batteries, the need for sophisticated control systems and automation in new plant constructions will drive this segment's market dominance.
U.S. market share exceeded USD 1.4 billion in 2023, driven by its rapid expansion of electric vehicle infrastructure and increasing investments in sustainable energy technologies. The country’s significant technological advancements, combined with substantial federal and state incentives, have catalyzed the development of advanced battery manufacturing facilities. Major automakers and tech firms are investing heavily in this sector, bolstering market growth. This trend will maintain the U.S. as the leading contributor to the global EV batteries plant construction market.