Germany electric vehicle (EV) battery market is anticipated to grow at a significant double-digit CAGR during the forecast period (2019-2025). The existence of cohesive government programs and initiatives are driving the sale and manufacturing of EVs in Germany. It is a major factor that is generating the demand for EV batteries in the country. To meet the growing demand for batteries in EVs, the German government has approved 6 EV battery gigafactory construction projects to ramp up the production of EV batteries in the country.
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Under these projects, Svolt Energy Technology Co., Ltd. committed to building its gigafactory at Saarland by 2023. Moreover, Contemporary Amperex Technology Ltd. (CATL) committed to building its gigafactory at Erfurter Kreuz by 2022, and VW, Northvolt committed to building its gigafactory at Salzgitter by 2023. Besides, Opel – Groupe PSA committed to building its gigafactory at Kaiserslautern by 2024. The US automaker, Tesla Inc., has also announced its investments in the country. Tesla committed to building its gigafactory at Berlin-Gruenheide. Easy access to talented German engineers and rising demand for EVs are the key factors responsible for the approval of these gigafactory projects. The battery holds a large portion of the overall cost of the vehicle. The development of electric vehicle batteries in the country reduces the prices of one of the expensive parts of the electric vehicle, not only in Germany but also in the European Union.
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Market Coverage
- The market number available for – 2018-2025
- Base year- 2019
- Forecast period- 2019-2025
- Segment Covered- By Battery Type, By Vehicle Type, By Propulsion Type
- Competitive Landscape- Hitachi, Ltd., Liacon GmbH, NEC Corp., Panasonic Corp., Sony Corp.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Germany Electric Vehicle Battery Market Report Segment
By Battery Type
- NiMH
- Li-ion
- Others
By Vehicle Type
- Commercial Vehicles
- Passenger Cars
- Two-Wheelers
By Propulsion Type
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicle
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
