World Electric Vehicles (EV) Batteries and Materials Markets 2020-2025: Structural EV Demand Growth to Remain Intact Amid the COVID-19 Outbreak
Dublin, Oct. 16, 2020 (GLOBE NEWSWIRE) -- The "EV Batteries and Materials: Technology, Trends, and Market Forecasts" report from The Information Network has been added to ResearchAndMarkets.com's offering.
Although global economic uncertainties have mounted amid the COVID-19 outbreak, we expect structural EV demand growth to remain intact. In the short term, demand for EVs will likely grow more rapidly than demand for conventional vehicles. Furthermore, major automakers, including Volkswagen, are unlikely to change their EV strategies.
In 2020-2021, we believe global EV demand will primarily come from Europe, where new EV model launches should expand despite uncertainties over the easing of environmental regulations. In the US, growth is likely to be driven by Tesla.
China should also exhibit robust demand, supported by the extension of subsidies. In particular, as Tesla gains a bigger foothold in the country, global and local automakers will likely take more aggressive action. Through this process, we believe China will transition from a subsidy-driven to a private demand-driven EV market.
In the short term, we think the gap in EV competitiveness among automakers will widen amid the economic slowdown. EV competitiveness comes mainly from the adoption of a dedicated platform, economies of scale, and improved management in batteries. As such, we believe capital power and investments will likely grow in importance.
In 2022-23, we expect battery prices to decline. For its Chinese models, Tesla plans to adopt cell-to-pack battery technology with lithium iron phosphate (LFP) cathodes. LFP batteries have lower energy density than nickel manganese cobalt (NCM) batteries, but are also 20% cheaper.
Meanwhile, LG Chem plans to adopt nickel, cobalt, manganese, and aluminum (NCMA) cathodes (more than 80% nickel content) from 2022-23 and apply long cell technology to increase battery energy density by at least 20%. Samsung SDI is working on improving energy density more than 20% by applying lithium nickel cobalt aluminum oxide (NCA) cathodes to its prismatic batteries. Thanks to these efforts, battery cell costs are anticipated to fall from US$130/kWh currently to around US$100/kWh in 2022-23.
In addition to lower battery costs, overall EV production costs are also likely to fall sharply, aided by fixed cost savings from scale effects. Volkswagen is believed to have invested heavily in developing its EV platform, the modular electric drive matrix (MEB), but the development cost per unit is projected to decline significantly as production volume ramps up.
Assuming platform development costs at W2tr, the cost per unit should fall sharply as Volkswagen's EV sales volume grows (from an estimated 400,000-500,000 units globally in 2020 to 1.5mn units in 2023 and 3mn units in 2025). Assembly line productivity is also likely to improve 30% through the EV platform, leading to significant fixed cost savings per unit. Thus, by 2023, we believe EVs could approach price parity with gas-powered vehicles, even without fuel cost savings effects.
With more automakers aiming to market cheaper, longer-range plug-in cars, demand for lithium-ion automotive batteries is expected rise. This report analyzes the markets for electric vehicles and EV batteries by type and geographic region. Other sectors analyzed are anode and cathode materials, and separators. Supply/demand of raw materials including lithium, cobalt, and nickel are detailed and forecast.
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Global EV and EV Battery Market Outlook
2.1 EV Market
2.2 EV Batteries
2.2.1 EV Battery Market Forecast
2.2.2 EV Battery Energy Density
2.2.3 EV Battery Cell Price
2.2.4 EV Battery Market Share
2.2.5 Rise of China
2.2.5.1 Aggressive EV Battery Expansion
2.2.5.2 Chinese Battery Technology
2.2.6 Future Batteries
2.2.6.1 Lithium-air (Li-air)
2.2.6.2 Lithium-metal (Li-metal)
2.2.6.3 Solid-State Lithium
2.2.6.4 Lithium-sulfur (Li-S)
2.2.6.5 Sodium-ion (Na-ion)
Chapter 3 Chinese EV and EV Battery Market Outlook
3.1 China EV Market
3.2 China EV Batteries
3.2.1 China EV Battery Market Forecast
3.2.2 Rise of China
3.2.2.1 Aggressive EV Battery Expansion
3.2.2.2 Chinese Battery Technology
3.2.2.3 EV Battery Overcapacity
Chapter 4 Cathode Material Analysis
4.1 Introduction
4.1.1 Cathode Material Costs
4.1.2 Cathode Materials And Battery Types
4.1.2.1 LCO (Lithium Cobalt Oxide) Cathodes
4.1.2.2 NCM (Nickel Cobalt Manganese) Cathodes
4.1.2.3 LMO (Lithium Manganese Oxide) Cathodes
4.1.2.4 LFP (Lithium Iron Phosphate) Cathodes
4.1.2.5 NCA (Nickel Cobalt Aluminum) Cathodes
4.2 Lithium
4.2.1 Lithium Prices
4.2.2 Lithium Supply/Demand
4.2.3 Top Lithium-Producing Countries
4.2.4 Top Lithium-Producing Producers
4.3 Cobalt
4.3.1 Cobalt Prices
4.3.2 Cobalt Supply/Demand
4.3.3 Top Cobalt-Producing Countries
4.3.4 Top Cobalt-Producing Producers
4.4 Nickel/Manganese
Chapter 5 Global Anode, Electrolyte, And Separator Material Analysis
5.1 Overview
5.2 Global Anode Market
5.3 Global Separator (Membrane) Market
5.4 Global Electrolytes Market
Chapter 6 China Anode, Electrolyte, And Separator Material Analysis
6.1 Overview
6.2 China Anode Market
6.3 China Separator (Membrane) Market
6.4 China Electrolytes Market
Chapter 7 Supplier Profiles and Strategies
Aekyung Chemical
Aleees
Asahi Kasei
B&M
BASF
BTR New Energy Materials
BNE
Cangzhou Mingzhu
Central Glass
Do-Fluoride Chemical
Easpring
Ecopro
Foshan Jinhui Hi-tech Optoelectronic Material
Guangzhou Tinci Materials Technology
Guotai-Huarong
Hitachi Chemical
Huiqiang New Energy
Hunan Changyuan Lico
Idemitsu Kosan
JFE Chemical
Johnson Matthey
Kureha
L&F
Mingzhu
Mitsubishi Chemical
Nichia
Ningbo Jinhe New Materials
Posco
Pulead Technology Industry
Reshine
Shenzhen Senior Technology
ShanShan
Shenzhen Capchem Technology
SK Innovation
Shinzoom
Sinuo
Soulbrain
Stella Chemifa
Sumitomo Metal Mining
Tanaka Chemical
Tangray
Teijin
Toray Battery
Ube Industries
Umicore
W-Scope
Xiamen Tungsten
Xinxiang Zhongke Science and Technology
XTC New Energy Materials
Zeto
Zhuhai Smoothway Electronic Materials
Zichen
Chapter 8 Battery Company Profiles and Strategies
AESC
BYD
Beijing National Battery Technology
CALB
Camel Group Co
CATL
Cham Battery Technology Co
Chaowei Power Holdings Limited
CITIC Guo'An Mengguli (MGL)
CNSG Anhui Hong Sifang Co
Coslight
DLG Power Battery
Do-Fluoride (Jiaozuo) New Energy Technology
EVE Energy Co., Ltd.
Farasis Energy (Ganzhou) Co., Ltd.
First New Energy Co. Ltd
Great Power Energy Technology Co., Ltd
Guoxuan Hi-Tech
Harbin Coslight Power Co., Ltd.
Henan Lithium Power Source Co
Henan Xintaihang
Highstar Battery
Huanyu New Energy Technology Co., Ltd.
Hunan Copower EV Battery Co., Ltd
Jiangsu Tenpower
Jiangsu Zhihang New Energy Co., Ltd.
Kokam Co., Ltd
LG Chem
Lithium Energy Japan
Mcnair New Energy Co., Ltd
Melsen Power
Microvast Power Systems Co., Ltd.
Narada Power Source Co., Ltd.
Ningbo CRRC New Energy Technology Co., Ltd.
NorthVolt
OptimumNano
Panasonic
Plylion Battery Co., Ltd.
Primearth EV Energy Co., Ltd.
Samsung SDI
Shandong Forever New Energy
Shandong Hengyu New Energy
Shanghai CENAT New Energy Co., Ltd.
Shenzhen BAK
Sinopoly Battery
Sinowatt
SK Innovation
Skyrich Power Co., Ltd.
Supreme Power Systems Co., Ltd.
Suzhou Youlion Battery Inc.
Tianjin EV Energies Co., Ltd. (JEVE)
Tianjin Lishen Battery Joint-Stock Co., Ltd.
Tianneng Power
TerraE
Tesla
Tianjin EV Energies Co., Ltd. (JEVE)
Tianjin Lishen Battery Joint-Stock Co., Ltd.
Tianneng Power
Wanxiang-A123
Wina Power
Wuhu ETC Battery Limited
Zhongdao Energy Co., Ltd.
Zhuhai Yinlong New Energy Co., Ltd.
Zhuoneng New Energy
Zibo Guoli
ZTT Energy Storage Technology Co., Ltd.
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