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Global Electric Truck Battery Growth Opportunities
Global Electric Truck Battery Growth Opportunities
Battery-powered Trucks will be a Viable Alternative, Majorly Driven by Falling Battery Prices and Improving Economics
10-Dec-2021
North America
Market Research
Description
With the framing of stringent emission norms and strong regulatory push, the automotive industry is fully prepared to shift toward electric powertrains. Although automakers have been investing in various alternative powertrain technologies to achieve low/zero emission, Electric Vehicles (EV) look promising for OEMs. They and battery manufacturers are preparing themselves to meet the expected demand boom in the next decade. Unlike passenger vehicles, commercial vehicle owners look for cost per mile and want the trucks to be commercially viable, rather than having a comfortable driving experience. With falling battery prices, electric trucks are expected to be viable and a fantastic fit in certain applications, including last-mile delivery and regional haul, beyond 2023.
Battery is the most expensive commodity in electric trucks at present. As the demand for batteries increases, prices are expected to fall below $100 per KWh by 2030. Nickel Manganese Cobalt (NMC) chemistries is expected to be widely used in commercial vehicles across all segments, due to higher energy density and power. Lithium Iron Phosphate (LFP) is the second-most popular battery chemistry due to safety and lower costs. The increase in battery production capacity and heavy competition among battery manufacturers is driving the battery ecosystem to offer cost-competitive prices with increased utilization. Solid-state batteries offer better value proposition with improved safety, longer life cycles, higher energy density, and improved thermal stability. The technological advancements in solid-state batteries will make it best suitable for electric trucks in the long term.
Asian manufacturers have been on top of the lithium-ion battery supply to the EV industry. China held more than 70% of the total EV battery market in 2020. Major suppliers, including CATL, BYD, LG Chem, Samsung, and SK Innovation, have already ramped up production capacities and have huge targets for the coming years in terms of installed capacities. These suppliers have signed supply contracts with key electric truck manufacturers in the world to help them reach sales targets in order to comply with stringent emission standards. Europe is turning out to be the most attractive production destination because it is already home to many EV manufacturers. CATL and Tesla have announced plans to expand their production facilities in Europe.
Technological evolution, improving economics, and policy changes are poised to drive the electric truck battery market. The market opportunity for electric truck batteries is estimated to be more than $80 billion by 2030.
Author: Darwin Sebas Joseph Dominic Savio
Table of Contents
Why Is It Increasingly Difficult To Grow?
The Strategic Imperative 8™
The Impact of the Top-Three Strategic Imperatives 8™ on Electric Truck Battery Market
Growth Opportunities Fuel the Growth Pipeline Engine™
Key Takeaways
Key Growth Metrics
Global Electric Truck Forecast—Overview
Lithium and Cobalt—Supply Versus Demand by 2025
Battery Technology Roadmap
Global Lithium-ion Battery (LiB) Production Forecast
Battery Portfolio—Battery Value Chain Mapping
Global Battery Chemistry Trend
Growth Drivers
Growth Restraints
Research Scope
Research Aims and Objectives
Key Questions This Study Will Answer
Powertrain Technology Segmentation
Global Electric Truck Forecast—Overview
Battery Chemistry Analysis—Key OEMs
Key OEM Models—Battery Capacity Mapping, North America
Key OEM Models—Battery Capacity Mapping, Europe
OEM—Battery Cell Supplier Mapping
OEM—Battery Pack Supplier Analysis
Battery Manufacturing Value Chain Snapshot
Cell Manufacturing—Process Steps
Cathode Suppliers
Key Value Chain Participants in Battery Pack Manufacturing
Value Share Along the Value Chain
Raw Material Availability
LiB Raw Material Availability—Regional Overview
Raw Material—Supply Versus Demand
Lithium Consumption and Demand by 2025
Lithium Supply Chain
Cobalt Consumption and Demand by 2025
Global Li-ion Battery Production Forecast
Battery Production Scenario—Regional Overview
Battery Production Capacity by Manufacturer
Global Li-ion Battery Production Capacity—2020 and 2025
LiB Production Plants in China, 2020
Gigafactories Planned in Europe, 2025
Future of Battery Chemistries
Lithium ion Batteries Look Promising
NMC Battery Chemistry—Roadmap
NMC Battery Chemistry Gains Popularity due to Higher Energy
Key Raw Material Composition by Battery Chemistry
Battery Form Types
Battery Supply Chain by Chemistry and Type
Blade Battery—Advantages
Case Study—BYD Blade Battery
CV Battery Development by Disrupting OEMS
Solid State Batteries—Energy Density and Voltage by Chemistry
Raw Materials in Solid State Batteries
Solid State Batteries—Key Value Propositions
Solid State Battery Cost Analysis for Commercial Vehicles
Battery Capacity Forecast
Revenue Forecast
Europe—Battery Chemistry Forecast, 2025
North America—Battery Chemistry Forecast, 2025
Forecast Analysis—Electric Truck Battery
Comparative Analysis of CV Battery Chemistries
LFP and NMC Pack Cost Forecast—For Commercial Vehicles
Li-ion Battery Cost Breakdown
Li-ion Battery Cell Cost Breakdown by Chemistry
Impact of Battery Capacity on Payload
Diesel Versus Electric (LFP, NMC)
Opportunity by Vehicle Type
Opportunities in Supply Chain Optimization
Opportunities in Battery Second Life and Recycling
Growth Opportunity 1—Competence of Battery Technology Vital for Market Growth
Growth Opportunity 1—Competence of Battery Technology Vital for Market Growth (continued)
Growth Opportunity 2—Opportunities in Supply Chain for Viability
Growth Opportunity 2—Opportunities in Supply Chain for Viability (continued)
Growth Opportunity 3—Falling Battery Costs and Improving Economics to Boost Market Demand
Growth Opportunity 3—Falling Battery Costs and Improving Economics to Boost Market Demand (continued)
Key Takeaways
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
Popular Topics
| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Darwin Sebas Joseph Dominic Savio |
| Industries | Automotive |
| WIP Number | K665-01-00-00-00 |
| Keyword 1 | Electric Vehicle (EV) Battery Market |
| Keyword 2 | Electric Truck Battery Market |
| Keyword 3 | Electric Truck Market |
| Is Prebook | No |
| GPS Codes | 9800-A6,9807-A6,9813-A6,9B01-A6,9963-A6,9882-A6 |
