Electric Vehicle Battery Market Size Will Reach USD 141 Billion by 2032
High demand for electric mobility has seen a corresponding surge in the battery market, with installations from top companies in the industry spiking during 2022. The outlook for electric vehicles is highly positive and battery manufacturers are likely to continue to benefit from these strong sales figures for the foreseeable future.Statzon’s market intelligence database shows that the global EV battery market reached USD 34 billion in 2022, and is expected to grow to USD 141.6 billion by 2032, with a CAGR of 15.4% from 2023 to 2032. The passenger car segment is the largest contributor,