Soft Pack Battery for Electric Vehicle Market Synopsis

Soft Pack Battery for Electric Vehicle Market Size Was Valued at USD 16.0 Billion in 2023, and is Projected to Reach USD 48.71 Billion by 2032, Growing at a CAGR of 13.20% From 2024-2032.

• The soft pack battery market for electric vehicles refers to the segment of the battery market for electric vehicles that uses flat, rectangular batteries as opposed to the traditional cylindrical rigid cells. Soft pack batteries also offer increased energy density, lighter weight, and greater design freedom, which contribute to their compatibility with any vehicle platform. Factors that contribute to the growth of this industry include demand for electric vehicles across the world and the related need for batteries that are lighter and more efficient.
• The demand for portable and lightweight batteries has given rise to soft pack batteries as an alternative to the traditional rigid batteries. Their small size and weight make them ideal for EVs, as space and performance are critical factors in these vehicles.
• The ongoing improvements in the materials and manufacturing processes further enhance the features, safety, and durability of the soft pack batteries, which helps in increasing their adoption in the electric vehicle market.
• Environmental considerations: There is a global shift towards electric cars due to the need for more sustainable transport. Soft pack batteries are gaining popularity due to the assumption that they are more environmentally friendly than regular batteries.
• Regulatory Support: Many governments are implementing policies and incentives to encourage the use of EVs. This includes promotion for the development and adoption of more complex battery technologies like flexible pack batteries.
• The competition has made the production of soft pack batteries economically viable, making them attractive to EV manufacturers who want to reduce costs without compromising on performance.

Soft Pack Battery for Electric Vehicle Market Trend Analysis

Flexibility, Efficiency, and Cost: The Evolution of Soft Pack Batteries in Electric Vehicles

• There are several aspects that differentiate the flexible pack battery trend in the EV industry. Soft pack batteries have several advantages over conventional cylindrical or prismatic batteries. These advantages largely refer to flexibility, weight reduction and possible cost saving.
• One of the key trends is the growing reliance of EV manufacturers on flexible pack batteries. The larger capacity and form factor flexibility of these batteries allows for better space usage in the vehicle. Flexibility enables EV OEMs to develop vehicles with battery packaging that is not only unique and efficient but can also potentially lead to better overall performance and range.
• Another trend is the focus on the reduction of battery weight. Overall, soft pack batteries are lighter than prismatic or cylindrical batteries, and this can contribute to the overall effectiveness and mileage of a vehicle. Thus, the emphasis on the use of lightweight materials and designs in EVs, including the use of flexible pack batteries, aims to enhance the energy density of batteries.

Soft Pack Batteries, Paving the Way for Green Mobility

• Several key factors are driving the electric vehicle (EV) market for soft pack batteries to significant growth. A major opportunity arises in the increased worldwide demand for EVs due to increased environmental concerns and the move away from traditional ICE cars. The continued growth of the EV industry, particularly due to the rising focus on sustainable mobility by policymakers and consumers alike, is expected to lead to increased demand for reliable and efficient battery systems.
• The various advantages that soft pack batteries have over traditional cylindrical or prismatic batteries make them an attractive option for EV manufacturers. Due to their modular design, interior space can be used more efficiently, which can lead to an increase in the range or cargo capacity of the transport without sacrificing safety. Moreover, soft pack batteries are often lighter than other battery types, which can enhance the overall performance and efficiency of the car or other transport means.
• The emergence of new technologies and materials that improve the performance and longevity of soft pack batteries is another growth factor for the market. Recent battery innovations such as the integration of solid-state electrolytes could lead to the creation of batteries that are safer, denser in energy, and more durable than the current generation of batteries. All these could mean that the incorporation of soft pack batteries into EV systems will be hastened as manufacturers aim to deliver vehicles that possess increased capabilities but with little or no impact on the environment.

Soft Pack Battery for Electric Vehicle Market Segment Analysis:

Soft Pack Battery for Electric Vehicle Market is segmented on the basis of Vehicle type, and end-users.

By Vehicle Type, Soft Pack Battery for Electric Vehicle Market segment is expected to dominate the market during the forecast period

• More types of EV models with BEV, PHEV, and HEV using soft pack batteries are entering the market. Soft pack batteries offer key benefits to BEVs, including a reduced weight and efficient use of space. Their modularity makes it possible to improve the use of space inside the vehicle, which may lead to increased range or additional storage space without compromising safety. In addition, the low weight of the soft pack batteries may also improve the overall efficiency and effectiveness of the vehicle’s performance.
• Soft pack batteries are of vital importance in HEVs as they accumulate energy gained during regenerative deceleration and supply power to the electric motor. The beneficial feature of their lightweight design is particularly apparent in HEVs in which energy recovery and efficiency are the most crucial.
• Flexible pack batteries also have advantages of lightweight and space efficiency for PHEVs, which can be charged from an external power source and have a larger battery capacity than HEVs. These batteries effectively eliminate petroleum consumption and emissions by enabling PHEVs to run in electric-only mode for longer distances.

By End User, Soft Pack Battery for Electric Vehicle Market segment held the largest share in 2023

• In the EV industry sector, soft pack batteries are gaining popularity among a wide spectrum of customers, from two- or three-wheelers to passenger cars and commercial vehicles. Soft pack batteries are a suitable ESS option for two-wheelers and three-wheelers because they are lightweight and space-efficient, which is beneficial for vehicles with limited dimensions. The power provided by these batteries is sufficient to drive electric bicycles, scooters, and motorcycles, thus encouraging sustainable and efficient mobility in cities.
• Manufacturers are increasingly utilizing soft pack batteries in their models of electric vehicles within the passenger car segment. The positive features of these batteries such as lightweight structure and compactness are particularly useful for improving the performance of electric vehicles. Furthermore, the structural nature of soft pack batteries allows for an easy incorporation of these batteries into the body of the car, which enables manufacturers to design more streamlined electric vehicles.
• More soft pack batteries are also being installed in commercial vehicles like lorries and buses. These batteries also ensure the flexibility and interior space economy which are essential in incorporating bigger vehicles. Due to the rising need for electric commercial automobiles, soft pack batteries can enable the shift toward cleaner and more sustainable mobility in the business world.

Soft Pack Battery for Electric Vehicle Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• The Asia Pacific region occupies a significant market share in the global market of electric vehicle (EV) soft pack batteries. There has been significant growth in this segment due to the growing proliferation of EVs in countries like China, Japan, South Korea, and India due to government policies, climate change, and technological innovation.
• Notably, China is a major consumer of soft pack batteries due to the government’s push for electric vehicles. The growth of charging stations and the country’s ambitious EV adoption targets have also positively contributed to the growth of the soft pack battery market.
• Also, Japan and South Korea are important markets for soft pack batteries as these countries are technologically advanced and have mature automotive industries. These nations host some of the leading battery manufacturing companies that play significant roles in the development and adoption of soft pack batteries in the region.
• The Indian market, despite being in the early stages of EV market penetration, has shown positive trends for soft pack batteries as well. Rising need for environment-friendly vehicles and supportive policies towards zero-emission vehicles are expected to drive soft pack battery market growth in the near future.
• The Asia Pacific region represents a very high potential market potential for soft pack batteries for EV applications. This is mainly because of government support, technological advancements and increasing awareness concerning environmental conservation.

Active Key Players in the Soft Pack Battery for Electric Vehicle Market.

• CATL (China)
• Envision AESC(Japan)
• EV Energies (England)
• Farasis Energy (China)
• Forever New Energy (United State)
• LG Chem (South Korea)
• Lithium Power Source (United states)
• RiseSun MGL(China)
• SK On (south Korea)
• Wanxiang Group (China)
• Others

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET BY VEHICLE TYPE (2017-2032)
   1. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. BEV
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. HEV
   5. PHEV
7. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET BY END-USER (2017-2032)
   1. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. 2 OR 3 WHEELERS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. PASSENGER CARS
   5. COMMERCIAL VEHICLES
8. COMPANY PROFILES AND COMPETITIVE ANALYSIS
   1. COMPETITIVE LANDSCAPE
      1. Competitive Positioning
      2. Luxury Goods Market Share By Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
   2. CATL (CHINA)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
   3. ENVISION AESC(JAPAN)
   4. EV ENERGIES (ENGLAND)
   5. FARASIS ENERGY (CHINA)
   6. FOREVER NEW ENERGY (UNITED STATES)
   7. LG CHEM (SOUTH KOREA)
   8. LITHIUM POWER SOURCE (UNITED STATES)
   9. RISESUN MGL(CHINA)
   10. SK ON (SOUTH KOREA)
   11. WANXIANG GROUP (CHINA)
9. GLOBAL SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET BY REGION
   1. OVERVIEW
   2. NORTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Vehicle Type
      4. Historic And Forecasted Market Size By End-User
      5. Historic And Forecasted Market Size By Country
         1. USA
         2. Canada
         3. Mexico
   3. EASTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
         1. Russia
         2. Bulgaria
         3. The Czech Republic
         4. Hungary
         5. Poland
         6. Romania
         7. Rest Of Eastern Europe
   4. WESTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
         1. Germany
         2. United Kingdom
         3. France
         4. The Netherlands
         5. Italy
         6. Spain
         7. Rest Of Western Europe
   5. ASIA PACIFIC
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Malaysia
         6. Thailand
         7. Vietnam
         8. The Philippines
         9. Australia
         10. New-Zealand
         11. Rest Of APAC
   6. MIDDLE EAST & AFRICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
         1. Turkey
         2. Bahrain
         3. Kuwait
         4. Saudi Arabia
         5. Qatar
         6. UAE
         7. Israel
         8. South Africa
   7. SOUTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
         1. Brazil
         2. Argentina
         3. Rest of South America
10. INVESTMENT ANALYSIS
11. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET COMPETITIVE RIVALRY
TABLE 005. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET THREAT OF NEW ENTRANTS
TABLE 006. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET THREAT OF SUBSTITUTES
TABLE 007. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET BY VEHICLE TYPE
TABLE 008. BEV MARKET OVERVIEW (2016-2028)
TABLE 009. HEV MARKET OVERVIEW (2016-2028)
TABLE 010. PHEV MARKET OVERVIEW (2016-2028)
TABLE 011. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET BY END USERS
TABLE 012. 2 OR 3 WHEELERS MARKET OVERVIEW (2016-2028)
TABLE 013. PASSENGER CARS MARKET OVERVIEW (2016-2028)
TABLE 014. COMMERCIAL VEHICLES MARKET OVERVIEW (2016-2028)
TABLE 015. NORTH AMERICA SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE (2016-2028)
TABLE 016. NORTH AMERICA SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY END USERS (2016-2028)
TABLE 017. N SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 018. EUROPE SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE (2016-2028)
TABLE 019. EUROPE SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY END USERS (2016-2028)
TABLE 020. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 021. ASIA PACIFIC SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE (2016-2028)
TABLE 022. ASIA PACIFIC SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY END USERS (2016-2028)
TABLE 023. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 024. MIDDLE EAST & AFRICA SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE (2016-2028)
TABLE 025. MIDDLE EAST & AFRICA SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY END USERS (2016-2028)
TABLE 026. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 027. SOUTH AMERICA SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY VEHICLE TYPE (2016-2028)
TABLE 028. SOUTH AMERICA SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY END USERS (2016-2028)
TABLE 029. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET, BY COUNTRY (2016-2028)
TABLE 030. CATL: SNAPSHOT
TABLE 031. CATL: BUSINESS PERFORMANCE
TABLE 032. CATL: PRODUCT PORTFOLIO
TABLE 033. CATL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 033. SK ON: SNAPSHOT
TABLE 034. SK ON: BUSINESS PERFORMANCE
TABLE 035. SK ON: PRODUCT PORTFOLIO
TABLE 036. SK ON: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 036. FARASIS ENERGY: SNAPSHOT
TABLE 037. FARASIS ENERGY: BUSINESS PERFORMANCE
TABLE 038. FARASIS ENERGY: PRODUCT PORTFOLIO
TABLE 039. FARASIS ENERGY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 039. DFD NEW ENERGY: SNAPSHOT
TABLE 040. DFD NEW ENERGY: BUSINESS PERFORMANCE
TABLE 041. DFD NEW ENERGY: PRODUCT PORTFOLIO
TABLE 042. DFD NEW ENERGY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 042. EV ENERGIES: SNAPSHOT
TABLE 043. EV ENERGIES: BUSINESS PERFORMANCE
TABLE 044. EV ENERGIES: PRODUCT PORTFOLIO
TABLE 045. EV ENERGIES: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 045. ENVISION AESC: SNAPSHOT
TABLE 046. ENVISION AESC: BUSINESS PERFORMANCE
TABLE 047. ENVISION AESC: PRODUCT PORTFOLIO
TABLE 048. ENVISION AESC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 048. SOUNDON NEW ENERGY: SNAPSHOT
TABLE 049. SOUNDON NEW ENERGY: BUSINESS PERFORMANCE
TABLE 050. SOUNDON NEW ENERGY: PRODUCT PORTFOLIO
TABLE 051. SOUNDON NEW ENERGY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 051. FOREVER NEW ENERGY: SNAPSHOT
TABLE 052. FOREVER NEW ENERGY: BUSINESS PERFORMANCE
TABLE 053. FOREVER NEW ENERGY: PRODUCT PORTFOLIO
TABLE 054. FOREVER NEW ENERGY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 054. LITHIUM POWER SOURCE: SNAPSHOT
TABLE 055. LITHIUM POWER SOURCE: BUSINESS PERFORMANCE
TABLE 056. LITHIUM POWER SOURCE: PRODUCT PORTFOLIO
TABLE 057. LITHIUM POWER SOURCE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 057. LG CHEM: SNAPSHOT
TABLE 058. LG CHEM: BUSINESS PERFORMANCE
TABLE 059. LG CHEM: PRODUCT PORTFOLIO
TABLE 060. LG CHEM: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 060. WANXIANG GROUP: SNAPSHOT
TABLE 061. WANXIANG GROUP: BUSINESS PERFORMANCE
TABLE 062. WANXIANG GROUP: PRODUCT PORTFOLIO
TABLE 063. WANXIANG GROUP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 063. RISESUN MGL: SNAPSHOT
TABLE 064. RISESUN MGL: BUSINESS PERFORMANCE
TABLE 065. RISESUN MGL: PRODUCT PORTFOLIO
TABLE 066. RISESUN MGL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 066. EVE: SNAPSHOT
TABLE 067. EVE: BUSINESS PERFORMANCE
TABLE 068. EVE: PRODUCT PORTFOLIO
TABLE 069. EVE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 069. OTHER MAJOR PLAYERS: SNAPSHOT
TABLE 070. OTHER MAJOR PLAYERS: BUSINESS PERFORMANCE
TABLE 071. OTHER MAJOR PLAYERS: PRODUCT PORTFOLIO
TABLE 072. OTHER MAJOR PLAYERS: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET OVERVIEW BY VEHICLE TYPE
FIGURE 012. BEV MARKET OVERVIEW (2016-2028)
FIGURE 013. HEV MARKET OVERVIEW (2016-2028)
FIGURE 014. PHEV MARKET OVERVIEW (2016-2028)
FIGURE 015. SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET OVERVIEW BY END USERS
FIGURE 016. 2 OR 3 WHEELERS MARKET OVERVIEW (2016-2028)
FIGURE 017. PASSENGER CARS MARKET OVERVIEW (2016-2028)
FIGURE 018. COMMERCIAL VEHICLES MARKET OVERVIEW (2016-2028)
FIGURE 019. NORTH AMERICA SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 020. EUROPE SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 021. ASIA PACIFIC SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 022. MIDDLE EAST & AFRICA SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 023. SOUTH AMERICA SOFT PACK BATTERY FOR ELECTRIC VEHICLE MARKET OVERVIEW BY COUNTRY (2016-2028)