| Product Code: ETC13360252 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Shubham Deep | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Hybrid EV Battery Market was valued at USD 41.7 Billion in 2024 and is expected to reach USD 95.2 Billion by 2031, growing at a compound annual growth rate of 13.40% during the forecast period (2025-2031).
The global hybrid electric vehicle (EV) battery market is experiencing significant growth driven by the increasing demand for fuel-efficient and environmentally friendly transportation solutions. The market is characterized by the adoption of advanced battery technologies such as lithium-ion batteries, which offer higher energy density and longer lifespan compared to traditional lead-acid batteries. Factors such as government incentives for electric vehicles, growing awareness about climate change, and the development of infrastructure to support EVs are also contributing to the market expansion. Key players in the global hybrid EV battery market include Panasonic, LG Chem, Samsung SDI, and BYD among others. The market is expected to continue to grow as automakers focus on expanding their electric vehicle offerings and improving battery technology to meet the increasing demand for cleaner transportation options.
The global hybrid electric vehicle (HEV) battery market is experiencing rapid growth due to the increasing demand for fuel-efficient and environmentally friendly transportation options. Key trends in the market include the development of advanced battery technologies such as lithium-ion batteries, increased government incentives promoting the adoption of HEVs, and the rising trend of automotive manufacturers investing in electric vehicle production. Opportunities in the market include the expansion of HEV battery manufacturing capacities, partnerships and collaborations between battery manufacturers and automotive companies, and the development of innovative and cost-effective battery solutions to meet the growing demand for hybrid electric vehicles worldwide. Overall, the global HEV battery market is poised for significant growth in the coming years, driven by the shift towards sustainable transportation solutions and advancements in battery technology.
The Global Hybrid EV Battery Market faces several challenges, including high manufacturing costs, limited raw material availability, and concerns regarding battery safety and performance. The fluctuating prices of key raw materials such as lithium and cobalt can impact the overall production costs of hybrid EV batteries, making them less competitive compared to traditional internal combustion engine vehicles. Additionally, ensuring the safety and reliability of these batteries remains a top concern for manufacturers and consumers alike, especially with incidents of battery fires and malfunctions. Addressing these challenges requires continuous research and development efforts to enhance battery technology, improve energy density, and reduce costs to make hybrid EVs more accessible and appealing to a wider market segment.
The Global Hybrid EV Battery Market is primarily driven by the increasing demand for energy-efficient and environmentally friendly vehicles, as governments around the world implement stringent emission regulations. The growing awareness among consumers regarding the benefits of hybrid electric vehicles, such as lower fuel costs and reduced carbon footprint, is also fueling market growth. Technological advancements in battery technology, leading to improved energy storage capacity and longer battery life, are further driving the market. Additionally, the availability of government incentives and subsidies to promote the adoption of hybrid electric vehicles is boosting market expansion. Overall, the push towards sustainability, coupled with advancements in battery technology and supportive government policies, are key drivers propelling the growth of the Global Hybrid EV Battery Market.
Government policies related to the Global Hybrid EV Battery Market vary by country but generally focus on promoting the adoption of electric vehicles (EVs) and enhancing the infrastructure supporting them. Many governments offer incentives such as tax credits, rebates, and subsidies to consumers purchasing hybrid and electric vehicles to encourage their use. Additionally, regulatory measures like emission standards and fuel efficiency targets are implemented to drive the development and adoption of eco-friendly vehicles. Some governments also invest in research and development initiatives to support the growth of the hybrid EV battery market, aiming to reduce costs, improve efficiency, and increase energy storage capacity. Overall, government policies play a crucial role in shaping the landscape of the global hybrid EV battery market by incentivizing innovation and sustainable transportation solutions.
The Global Hybrid EV Battery Market is expected to witness substantial growth in the coming years, driven by increasing demand for electric vehicles, stringent emission regulations, and advancements in battery technology. The market is poised to benefit from the rising focus on sustainable transportation solutions and the shift towards cleaner energy sources. Additionally, government incentives and initiatives to promote electric vehicle adoption are likely to further propel market growth. Key players in the industry are investing in research and development to enhance battery performance, reduce costs, and increase energy density. With ongoing technological innovations and improving infrastructure for electric vehicles, the Global Hybrid EV Battery Market is anticipated to experience significant expansion and offer lucrative opportunities for market players in the foreseeable future.
In the global Hybrid EV battery market, Asia is expected to dominate due to the significant presence of key players such as Panasonic and LG Chem, along with the growing adoption of electric vehicles in countries like China and Japan. North America is projected to witness substantial growth driven by government incentives and increasing environmental awareness. Europe is a key market for hybrid EV batteries, with countries like Norway and Germany leading the way in electric vehicle adoption. The Middle East and Africa region is gradually entering the hybrid EV battery market, with initiatives to reduce carbon emissions driving growth. Latin America is also showing potential for growth, particularly in countries like Brazil and Mexico, where favorable government policies and increasing investment in sustainable transportation are encouraging the adoption of hybrid EV technologies.
Global Hybrid EV Battery Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Hybrid EV Battery Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Hybrid EV Battery Market Revenues & Volume, 2021 & 2031F |
3.3 Global Hybrid EV Battery Market - Industry Life Cycle |
3.4 Global Hybrid EV Battery Market - Porter's Five Forces |
3.5 Global Hybrid EV Battery Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Hybrid EV Battery Market Revenues & Volume Share, By Battery Type, 2021 & 2031F |
3.7 Global Hybrid EV Battery Market Revenues & Volume Share, By Vehicle Type, 2021 & 2031F |
3.8 Global Hybrid EV Battery Market Revenues & Volume Share, By Material Type, 2021 & 2031F |
3.9 Global Hybrid EV Battery Market Revenues & Volume Share, By Capacity Range, 2021 & 2031F |
3.10 Global Hybrid EV Battery Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Global Hybrid EV Battery Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Hybrid EV Battery Market Trends |
6 Global Hybrid EV Battery Market, 2021 - 2031 |
6.1 Global Hybrid EV Battery Market, Revenues & Volume, By Battery Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Hybrid EV Battery Market, Revenues & Volume, By NiMH, 2021 - 2031 |
6.1.3 Global Hybrid EV Battery Market, Revenues & Volume, By Li-ion, 2021 - 2031 |
6.2 Global Hybrid EV Battery Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Hybrid EV Battery Market, Revenues & Volume, By Passenger Car, 2021 - 2031 |
6.2.3 Global Hybrid EV Battery Market, Revenues & Volume, By Commercial Vehicle, 2021 - 2031 |
6.3 Global Hybrid EV Battery Market, Revenues & Volume, By Material Type, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Hybrid EV Battery Market, Revenues & Volume, By Lithium, 2021 - 2031 |
6.3.3 Global Hybrid EV Battery Market, Revenues & Volume, By Nickel, 2021 - 2031 |
6.3.4 Global Hybrid EV Battery Market, Revenues & Volume, By Cobalt, 2021 - 2031 |
6.4 Global Hybrid EV Battery Market, Revenues & Volume, By Capacity Range, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Hybrid EV Battery Market, Revenues & Volume, By Up to 20 kWh, 2021 - 2031 |
6.4.3 Global Hybrid EV Battery Market, Revenues & Volume, By 20-40 kWh, 2021 - 2031 |
6.4.4 Global Hybrid EV Battery Market, Revenues & Volume, By Above 40 kWh, 2021 - 2031 |
6.5 Global Hybrid EV Battery Market, Revenues & Volume, By Application, 2021 - 2031 |
6.5.1 Overview & Analysis |
6.5.2 Global Hybrid EV Battery Market, Revenues & Volume, By BEV, 2021 - 2031 |
6.5.3 Global Hybrid EV Battery Market, Revenues & Volume, By PHEV, 2021 - 2031 |
6.5.4 Global Hybrid EV Battery Market, Revenues & Volume, By HEV, 2021 - 2031 |
7 North America Hybrid EV Battery Market, Overview & Analysis |
7.1 North America Hybrid EV Battery Market Revenues & Volume, 2021 - 2031 |
7.2 North America Hybrid EV Battery Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Hybrid EV Battery Market, Revenues & Volume, By Battery Type, 2021 - 2031 |
7.4 North America Hybrid EV Battery Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
7.5 North America Hybrid EV Battery Market, Revenues & Volume, By Material Type, 2021 - 2031 |
7.6 North America Hybrid EV Battery Market, Revenues & Volume, By Capacity Range, 2021 - 2031 |
7.7 North America Hybrid EV Battery Market, Revenues & Volume, By Application, 2021 - 2031 |
8 Latin America (LATAM) Hybrid EV Battery Market, Overview & Analysis |
8.1 Latin America (LATAM) Hybrid EV Battery Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Hybrid EV Battery Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Hybrid EV Battery Market, Revenues & Volume, By Battery Type, 2021 - 2031 |
8.4 Latin America (LATAM) Hybrid EV Battery Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
8.5 Latin America (LATAM) Hybrid EV Battery Market, Revenues & Volume, By Material Type, 2021 - 2031 |
8.6 Latin America (LATAM) Hybrid EV Battery Market, Revenues & Volume, By Capacity Range, 2021 - 2031 |
8.7 Latin America (LATAM) Hybrid EV Battery Market, Revenues & Volume, By Application, 2021 - 2031 |
9 Asia Hybrid EV Battery Market, Overview & Analysis |
9.1 Asia Hybrid EV Battery Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Hybrid EV Battery Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Hybrid EV Battery Market, Revenues & Volume, By Battery Type, 2021 - 2031 |
9.4 Asia Hybrid EV Battery Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
9.5 Asia Hybrid EV Battery Market, Revenues & Volume, By Material Type, 2021 - 2031 |
9.6 Asia Hybrid EV Battery Market, Revenues & Volume, By Capacity Range, 2021 - 2031 |
9.7 Asia Hybrid EV Battery Market, Revenues & Volume, By Application, 2021 - 2031 |
10 Africa Hybrid EV Battery Market, Overview & Analysis |
10.1 Africa Hybrid EV Battery Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Hybrid EV Battery Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Hybrid EV Battery Market, Revenues & Volume, By Battery Type, 2021 - 2031 |
10.4 Africa Hybrid EV Battery Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
10.5 Africa Hybrid EV Battery Market, Revenues & Volume, By Material Type, 2021 - 2031 |
10.6 Africa Hybrid EV Battery Market, Revenues & Volume, By Capacity Range, 2021 - 2031 |
10.7 Africa Hybrid EV Battery Market, Revenues & Volume, By Application, 2021 - 2031 |
11 Europe Hybrid EV Battery Market, Overview & Analysis |
11.1 Europe Hybrid EV Battery Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Hybrid EV Battery Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Hybrid EV Battery Market, Revenues & Volume, By Battery Type, 2021 - 2031 |
11.4 Europe Hybrid EV Battery Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
11.5 Europe Hybrid EV Battery Market, Revenues & Volume, By Material Type, 2021 - 2031 |
11.6 Europe Hybrid EV Battery Market, Revenues & Volume, By Capacity Range, 2021 - 2031 |
11.7 Europe Hybrid EV Battery Market, Revenues & Volume, By Application, 2021 - 2031 |
12 Middle East Hybrid EV Battery Market, Overview & Analysis |
12.1 Middle East Hybrid EV Battery Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Hybrid EV Battery Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Hybrid EV Battery Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Hybrid EV Battery Market, Revenues & Volume, By Battery Type, 2021 - 2031 |
12.4 Middle East Hybrid EV Battery Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
12.5 Middle East Hybrid EV Battery Market, Revenues & Volume, By Material Type, 2021 - 2031 |
12.6 Middle East Hybrid EV Battery Market, Revenues & Volume, By Capacity Range, 2021 - 2031 |
12.7 Middle East Hybrid EV Battery Market, Revenues & Volume, By Application, 2021 - 2031 |
13 Global Hybrid EV Battery Market Key Performance Indicators |
14 Global Hybrid EV Battery Market - Export/Import By Countries Assessment |
15 Global Hybrid EV Battery Market - Opportunity Assessment |
15.1 Global Hybrid EV Battery Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Hybrid EV Battery Market Opportunity Assessment, By Battery Type, 2021 & 2031F |
15.3 Global Hybrid EV Battery Market Opportunity Assessment, By Vehicle Type, 2021 & 2031F |
15.4 Global Hybrid EV Battery Market Opportunity Assessment, By Material Type, 2021 & 2031F |
15.5 Global Hybrid EV Battery Market Opportunity Assessment, By Capacity Range, 2021 & 2031F |
15.6 Global Hybrid EV Battery Market Opportunity Assessment, By Application, 2021 & 2031F |
16 Global Hybrid EV Battery Market - Competitive Landscape |
16.1 Global Hybrid EV Battery Market Revenue Share, By Companies, 2024 |
16.2 Global Hybrid EV Battery Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |