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Growth Opportunities in Global Electric Commercial Vehicle Battery Market

Growth Opportunities in Global Electric Commercial Vehicle Battery Market

Decarbonization Efforts and Proliferation of Electric Trucks Drive Demand for Battery Capacity

RELEASE DATE
15-Dec-2023
REGION
North America
Deliverable Type
Market Research
Research Code: PF6A-01-00-00-00
SKU: AU_2023_450
AvailableYesPDF Download
$4,950.00
In stock
SKU
AU_2023_450

Growth Opportunities in Global Electric Commercial Vehicle Battery Market
Published on: 15-Dec-2023 | SKU: AU_2023_450

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Description

The global electric commercial vehicle (CV) sales are forecast to grow to 6.3 million units by 2030 from 397,146 units in 2022, at a CAGR of 41.4% over the period. This is expected to increase global aggregate battery capacity demand from electric CVs by 117 times in 10 years, from 7.2 GWh in 2020 to 840 GWh by 2030. North America is expected to make up 50% of the global battery demand for electric CVs by 2030 mainly due to significantly higher average battery capacity in vehicles compared to other regions.

As battery manufacturers scale up battery production in response to growing demand from EVs, there will be a greater focus on reducing cost, increasing energy density, and making the overall supply chain more robust, clean, and sustainable. Companies in the battery ecosystem will need to respond and pivot quickly according to the demands in the battery space. Stakeholders should focus on making the overall network more resilient to volatility. With transforming battery structures, the role of vehicle manufacturers in the battery value chain is poised to grow and become critical in designing EV platforms that integrate batteries directly into packs or vehicle chassis.

Less onboard battery capacity will mean lower volume and weight, making more room for higher payload capacity in terms of volume and weight, potentially reducing costs, and increasing revenue opportunity for electric CV operators. Business models in the CV space that align with the rise in eCommerce and last-mile delivery growth could make battery swapping a viable option in niche segments. Growing charging infrastructure will also impact onboard CV battery capacities.

Key Issues Addressed

  • What is the global battery demand in the electric commercial vehicle segment?
  • Share of battery chemistry across different regions?
  • Technology roadmap and evolution of battery technology until 2035?
  • Battery cost dynamics and future price forecasts?
  • Major battery cell supplier profile and OEM-chemistry mapping?

Author: Marshall Martin

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Electric Commercial Vehicle Battery Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Electric CV Sales

Aggregate Electric CV Battery Capacity Demand

Share of Aggregate Electric CV Battery Capacity Demand in 2030

Share of Electric CV Battery Chemistry

Battery Technology Development

Research Scope

Market Segmentation

Electric LCV Sales

Electric M&HD Truck Sales

Electric LCV Aggregate Battery Capacity Demand

Share of Aggregate Battery Capacity Demand in 2030: LCV

Aggregate Battery Capacity Demand: M&HD Truck

Share of Aggregate Battery Capacity Demand in 2030: M&HD Truck

Share of Battery Chemistry: Electric LCV

Share of Battery Chemistry: M&HD Truck

Average Battery Capacity: Regions

Battery Technology Roadmap

Battery Cost

Battery Composition

Battery Cost Forecast

Battery Cell-to-Pack Ratio

Blade Battery

Lithium Sulfur Battery

Lithium Air Battery

Solid-state Battery

Cell-to-Pack Battery

Structural Battery Pack (Cell-to-Chassis)

CATL

LGES

BYD

Panasonic

SK Innovation

Samsung SDI

CALB

Gotion High-Tech

Battery Cell Supplier: Chemistry Mapping

OEM: Chemistry Mapping

OEM: Battery Cell Supplier Mapping

Major OEM and Battery Cell Supplier Partnerships

Model Wise Battery Capacity: LCV

Model Wise Battery Capacity: LCV (continued)

Model Wise Battery Capacity: M&HD Truck

Model Wise Battery Capacity: M&HD Truck (continued)

Average Battery Capacity: Segments

Growth Opportunity 1: Evolving Battery Chemistries

Growth Opportunity 1: Evolving Battery Chemistries (continued)

Growth Opportunity 2: Advancements in Battery Tech

Growth Opportunity 2: Advancements in Battery Tech (continued)

Growth Opportunity 3: Changing Battery Capacity in CVs

Growth Opportunity 3: Changing Battery Capacity in CVs (continued)

Abbreviations

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

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The global electric commercial vehicle (CV) sales are forecast to grow to 6.3 million units by 2030 from 397,146 units in 2022, at a CAGR of 41.4% over the period. This is expected to increase global aggregate battery capacity demand from electric CVs by 117 times in 10 years, from 7.2 GWh in 2020 to 840 GWh by 2030. North America is expected to make up 50% of the global battery demand for electric CVs by 2030 mainly due to significantly higher average battery capacity in vehicles compared to other regions. As battery manufacturers scale up battery production in response to growing demand from EVs, there will be a greater focus on reducing cost, increasing energy density, and making the overall supply chain more robust, clean, and sustainable. Companies in the battery ecosystem will need to respond and pivot quickly according to the demands in the battery space. Stakeholders should focus on making the overall network more resilient to volatility. With transforming battery structures, the role of vehicle manufacturers in the battery value chain is poised to grow and become critical in designing EV platforms that integrate batteries directly into packs or vehicle chassis. Less onboard battery capacity will mean lower volume and weight, making more room for higher payload capacity in terms of volume and weight, potentially reducing costs, and increasing revenue opportunity for electric CV operators. Business models in the CV space that align with the rise in eCommerce and last-mile delivery growth could make battery swapping a viable option in niche segments. Growing charging infrastructure will also impact onboard CV battery capacities.--BEGIN PROMO--

Key Issues Addressed

  • What is the global battery demand in the electric commercial vehicle segment?
  • Share of battery chemistry across different regions?
  • Technology roadmap and evolution of battery technology until 2035?
  • Battery cost dynamics and future price forecasts?
  • Major battery cell supplier profile and OEM-chemistry mapping?

Author: Marshall Martin

More Information
Deliverable Type Market Research
Author Marshall Martin
Industries Automotive
No Index No
Is Prebook No
Keyword 1 Battery Technology Trends
Keyword 2 Commercial EV Battery Solutions
Keyword 3 Battery Management Systems
Podcast No
WIP Number PF6A-01-00-00-00