Report Highlights
The global market for materials used in automotive batteries and fuel cells should grow from $8.2 billion in 2018 to reach $22.4 billion by 2023 at a compound annual growth rate (CAGR) of 22.4% for the period of 2018-2023.
Report Includes
- 134 data tables and 32 additional tables
- An overview of the global markets for advanced materials in electric, fuel cell and hybrid automotive batteries
- Analyses of global market trends, with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Coverage of history and current state of advanced materials used in batteries for electric, fuel cell and hybrid automobiles
- Characterization and quantification of market by type, material and region
- Discussion on drivers, restraints, key developments and future outlook of the advanced materials industry
- Insights into regulatory and environmental developments within this industry
- Information on China’s subsidy policy
- Detailed profiles of key competitors of the market, including AkzoNobel, BASF Corp., FMC Corp., Hitachi Chemical and Lithium Corp.
Report Scope
This report covers materials used in the following types of EVs that use motive power batteries and fuel cells:
- Passenger vehicles (sedans, microcars, sport utility vehicles [SUVs], crossover SUVs, pickup trucks, sports cars).
- Low-velocity vehicles (golf carts, neighborhood EVs, personal mobility devices).
- Buses.
- Commercial/industrial vehicles (material handling equipment, burden carriers, forklifts, trucks).
The numbers of batteries and fuel cells used in these EVs are estimated and forecasted in this report.
Two other major types of EVs are out of the scope of this report:
- Scooters (two-wheelers, motorcycles, some three-wheelers).
- Niche (military, self-driving vehicles, locomotives).
Analyst Credentials
Jason Chen has been an analyst and consultant for the polymer, composite, fiber, textile and energy industries for 18 years. He works as a researcher, writer and/or editor for the American Composites Manufacturers Association (ACMA), China Textile Academy (CTA), China Chemical Fiber Association (CCFA), International Fiber Journal, Filtration News, Platts Emission Daily, Vision Systems Design, Pesticide and Toxic Chemical News and MobileTex. Currently he is the chief scientist of a company endeavoring to reduce China's air and water pollution. He has a degree in Civil Engineering, Chemicals and Advanced Materials from Shantou University.
Related Reports
2024 Hydrogen and Ammonia Research Review
Research Reviews from BCC Research provide market professionals with concise market coverage within a specific research category. These Research Reviews include portions of several market research reports that were published in 2024.
2024 Fuel Cell and Battery Research Review
This 2024 Research Review of Fuel Cell and Battery provides a sampling of the type of quantitative market information, analysis, and guidance that BCC Research has been developing since its inception in 1971 to help its customers make informed business decisions.
Hydrogen Fuel Cell: Global Markets
The global market for hydrogen fuel cells is estimated to increase from $5.1 billion in 2024 to reach $11.0 billion by 2029, at a compound annual growth rate (CAGR) of 16.5% from 2024 through 2029.
Electric Vehicles and Fuel Cell Vehicles: Global Markets
The global market for electric vehicles and fuel cell vehicles was valued at $655.9 billion in 2023. The market is expected to grow from $758.0 billion in 2024 to $1.8 trillion by 2029, at a compound annual growth rate (CAGR) of 18.6% from 2024 to 2029.
Recent Reports
Global Hydrogen Energy Storage Market
This report provides an overview of the global hydrogen energy storage market. It provides analysis of the market based on storage form, technology, and end-user segments. The report includes patent analysis, an ESG development chapter, and industry competitive landscape.
Global Lithium-ion Battery Market
The global market for lithium-ion battery (LIB) is expected to grow from $117.8 billion in 2024 and is projected to reach $221.7 billion by the end of 2029, at a compound annual growth rate (CAGR) of 13.5% during the forecast period of 2024 to 2029.
2024 Fuel Cell and Battery Research Review
This 2024 Research Review of Fuel Cell and Battery provides a sampling of the type of quantitative market information, analysis, and guidance that BCC Research has been developing since its inception in 1971 to help its customers make informed business decisions.
Global EV Battery Swapping Market
The global EV battery swapping market was valued at $750.1 million in 2023. It is projected to grow from $894.2 million in 2024 to $2.8 billion by the end of 2029, at a compound annual growth rate (CAGR) of 25.5% from 2024 through 2029.
2023 Fuel Cell and Battery Research Review
This fuel cell and battery research review provides a sampling of the type of quantitative market information, analysis and guidance that has been aiding business decision making since BCC Research was founded in 1971.
Top Trending Reports
Global Diabetic Care Devices Market
The global market for diabetes monitoring devices is expected to grow from $16.6 billion in 2024 to $26.8 billion by the end of 2029, at a compound annual growth rate (CAGR) of 10.1% from 2024 through 2029.
Carbon Capture, Utilization & Storage Technologies
The global market for carbon capture, utilization and storage (CCUS) technologies is expected to grow from $3.4 billion in 2024 and is projected to reach $9.6 billion by the end of 2029, at a compound annual growth rate (CAGR) of 23.1% during the forecast period of 2024 to 2029.
2024 Semiconductor Manufacturing Research Review
This 2024 Research Review of the Semiconductor Manufacturing provides a sampling of the type of quantitative market information, analysis, and guidance that BCC Research has been developing since its inception in 1971 to help its customers make informed business decisions.
Generative AI: Global Markets
The global market for generative AI was valued at $15.4 billion in 2023. It is projected to grow from $20.8 billion in 2024 to $94.4 billion by 2029, at a compound annual growth rate (CAGR) of 35.3% from 2024 through 2029.
2024 Medical Devices Research Review
The medical device industry is a multi-billion-dollar industry whose outlook is supposed to rise in the coming years These devices treat and diagnose a multitude of patient conditions and work much better than drugs.
Become A Member
BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.
Find Out MoreCustom Consulting
BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.
Customize NowScorecard
The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.
Find Out MoreInnovation Spotlight
Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.
Find Out More