The European battery market is estimated to grow at a significant CAGR during the forecast period. The demand for batteries has increased owing to the increased adoption of EVs. The substantial market for EVs is one of the major factors contributing to increasing the demand for Li-ion batteries and hence driving the growth of the market.
Moreover, the growth of the European battery industry is driven by the presence of major battery players and key contributions by them towards the growth of the market. For instance, in February 2020, Saft and the PSA Group announced plans for two lithium-ion EV battery cell plants in Europe.
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The French-German alliance intends to establish a joint venture named Automotive Cell Company (ACC), with a total output of 48 GWh annually by 2030, through around a $5.9 billion investment, supported by nearly $1.5 billion in public funding from the European Union.
The first phase of the project focuses on R&D, including building a pilot plant on the land of Saft’s Nersac facility. The plant is scheduled to start-up in mid-2021 and represents an investment of around $236 million.
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8 GWh gigafactory will be built in the northern Hauts-de-France region in France starting in 2023 (then expanded to 16 GWh and 24 GWh). In addition, 8 GWh gigafactory to be built in Rhineland-Palatinate state in Germany (then expanded to 16 GWh and 24 GWh) and the total output to be 48 GWh by 2030
Market Coverage
- Market number available for – 2018-2025
- Base year- 2018
- Forecast period- 2019-2025
- Segment Covered- By Category, By Type, and By Application
- Regions Covered- Europe
- Competitive Landscape- A123 Systems LLC, AceOn Group, Automotive Energy Supply Corp., Exide Industries Ltd., Saft Group SA, and Tesvolt GmbH
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
European Battery Market- Segmentation
By Category
- Primary
- Secondary
By Type
- Lithium-Ion
- Nickel-Metal Hydride (NI-MH)
- Nickel Cadmium
- Lead Acid
- Others
By Application
- Automotive
- Industrial
- Consumer Electronics
- Power & Energy
- Others
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