Cell to Pack Battery Market Size-By Form, By Battery Type, By Vehicle Type, By Technology-Regional Outlook, Competitive Strategies and Segment Forecast to 2032
Global Cell to Pack Battery Market Overview
According to SPER Market Research, the Global Cell to Pack Battery Market is estimated to reach USD 47.71 billion by 2032 with a CAGR of 27.13%. The market for battery cells is anticipated to grow and expand to a great extent, despite the COVID-19 pandemic having an impact on the market under study in 2020, it recovered and returned to pre-pandemic levels. During the anticipated period, the market's expansion is anticipated to be aided by the rising demand for battery cells. The market under study is anticipated to increase as a result of the quick uptake of electric vehicles, which is primarily being fueled by the falling cost of lithium-ion batteries.
Impact of COVID-19 on the Global Cell to Pack Battery MarketAs it experienced complete shutdowns during the first several months of the COVID-19 epidemic, China's significance as the hub of battery production and delivery was felt around the world. Due to quarantine procedures, its lead times for producing practically all commodities more than quadrupled, and the shutdowns equally affected LIB fabrication. CATL and BYD, two significant Chinese LIB producers, announced prolonged manufacturing delays.
Scope of the Report:Report Metric Details
Market size available for years 2019-2032
Base year considered 2021
Forecast period 2022-2032
Segments covered By Form, By Battery Type, By Vehicle Type, By Technology.
Regions covered Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
Companies Covered BYD Company Ltd, Contemporary Amperex Technology Co. Ltd, C4V, LG Energy, Sunwoda Electronic Co. Ltd, Tesla, XPENG INC.
Global Cell to Pack Battery Market Segmentation:
By Battery Type: Based on the Battery Type, Global Cell to Pack Battery Market is segmented as; LFP, NMC
By Vehicle Type: Based on the Vehicle Type, Global Cell to Pack Battery Market is segmented as; (Passenger Cars, Commercial Vehicles)
By Technology: Based on the Technology, Global Cell to Pack Battery Market is segmented as; (Blade, LiSER)
By Region: The most lucrative markets could be in Europe and North America, which have still-developing EV markets but are expected to be the hubs of significant future EV growth. In contrast, China, the world's largest market for EVs, and South Korea have a strong battery value chain.