Market Overview Of The Soft Pack Battery For Electric Vehicle Market
The global soft pack battery for electric vehicle market is projected to grow from USD 14.1 billion in 2022 to USD 38.02 billion by 2030, at a CAGR of 13.2%.
A soft pack battery consists of a polymer shell encasing a soft liquid lithium-ion battery. The aluminum-plastic film used as the battery cell packaging material differentiates this battery from others. The soft pack battery has good safety performance in terms of structure, volume, and weight. The benefits of light weight, large capacity, low internal resistance, and flexible design have begun to emerge and gain prominence. Installing a soft pack battery can reduce the weight of the battery, which can improve the vehicle's cruising range to some extent. It is possible to change the shape of the appearance to any shape. Installing a soft pack battery in the vehicle can increase its space, and the installation position of the soft pack battery is unaffected by the vehicle's structure. Second, regarding the soft pack battery the battery is said to be thinner, and the overall flexibility and matching of the soft pack battery is relatively high, which is very appealing to car companies in terms of design and other aspects thus, supporting the development of the soft pack battery for electric vehicle market over the forecasted period.
Market Dynamics And Factors Of The Soft Pack Battery For Electric Vehicle Market
Drivers:
- Imperative Need Of Light Weight Components To Increase The EV Range
Restraints:
- Intricate Manufacturing Process Can Affect The Global Adoption
Opportunities:
- Rising Adoption Of EV Across The Globe In Residential As Well As In Commercial Sector
Key Industry Developments In The Soft Pack Battery For Electric Vehicle Market
In August 2022, Honda and LG Chem will build a $4.4 billion electric vehicle battery factory in the United States, the latest move to boost domestic production in order to comply with new tax credit rules. Honda and LG Chem will form a joint venture to manufacture batteries in the United States for the automaker's upcoming EV lineup.
COVID-19 Impact On The Soft Pack Battery For Electric Vehicle Market
As businesses worldwide shut down, road traffic came to a halt, and demand for electric vehicles plummeted. Workers were barred from operating battery and automobile production facilities, mines and refineries were closed, and shipments of manufactured goods were halted. Economic uncertainty and mass layoffs have reduced consumer spending and lowered demand for high-end mobile phones and tablets. These factors impede the viability of energy-storage materials as well as the long-term growth of renewable energy sources. Government policies, emerging energy storage and manufacturing technologies, and the persistence of the research community will all have a significant impact on whether COVID-19's long-term effects are mitigated or exacerbated. With positive growth the market is anticipated to develop at a lucrative growth rate over the forecasted period attributed to global vaccine rollout, and declining cases.
Key Players For The Soft Pack Battery For Electric Vehicle Market
- CATL
- SK On
- Farasis Energy
- DFD NEW ENERGY
- EV Energies
- Envision AESC
- SOUNDON NEW ENERGY
- Forever New Energy
- Lithium Power Source
- LG Chem
- Wanxiang Group
- RiseSun MGL
- EVE And Other Major Players.
Global Soft Pack Battery for Electric Vehicle Market |
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Base Year: |
2022 |
Forecast Period: |
2023-2030 |
Historical Data: |
2017 to 2022 |
Market Size in 2022: |
USD 14.1 Bn. |
Forecast Period 2023-30 CAGR: |
13.2% |
Market Size in 2030: |
USD 38.02 Bn. |
Segments Covered: |
By Vehicle Type |
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By End Users |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Vehicle Type
3.2 By End Users
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.5.4 Challenges
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Soft Pack Battery for Electric Vehicle Market by Vehicle Type
5.1 Soft Pack Battery for Electric Vehicle Market Overview Snapshot and Growth Engine
5.2 Soft Pack Battery for Electric Vehicle Market Overview
5.3 BEV
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2016-2028F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 BEV: Geographic Segmentation
5.4 HEV
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2016-2028F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 HEV: Geographic Segmentation
5.5 PHEV
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size (2016-2028F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 PHEV: Geographic Segmentation
Chapter 6: Soft Pack Battery for Electric Vehicle Market by End Users
6.1 Soft Pack Battery for Electric Vehicle Market Overview Snapshot and Growth Engine
6.2 Soft Pack Battery for Electric Vehicle Market Overview
6.3 2 or 3 Wheelers
6.3.1 Introduction and Market Overview
6.3.2 Historic and Forecasted Market Size (2016-2028F)
6.3.3 Key Market Trends, Growth Factors and Opportunities
6.3.4 2 or 3 Wheelers: Geographic Segmentation
6.4 Passenger Cars
6.4.1 Introduction and Market Overview
6.4.2 Historic and Forecasted Market Size (2016-2028F)
6.4.3 Key Market Trends, Growth Factors and Opportunities
6.4.4 Passenger Cars: Geographic Segmentation
6.5 Commercial Vehicles
6.5.1 Introduction and Market Overview
6.5.2 Historic and Forecasted Market Size (2016-2028F)
6.5.3 Key Market Trends, Growth Factors and Opportunities
6.5.4 Commercial Vehicles: Geographic Segmentation
Chapter 7: Company Profiles and Competitive Analysis
7.1 Competitive Landscape
7.1.1 Competitive Positioning
7.1.2 Soft Pack Battery for Electric Vehicle Sales and Market Share By Players
7.1.3 Industry BCG Matrix
7.1.4 Heat Map Analysis
7.1.5 Soft Pack Battery for Electric Vehicle Industry Concentration Ratio (CR5 and HHI)
7.1.6 Top 5 Soft Pack Battery for Electric Vehicle Players Market Share
7.1.7 Mergers and Acquisitions
7.1.8 Business Strategies By Top Players
7.2 CATL
7.2.1 Company Overview
7.2.2 Key Executives
7.2.3 Company Snapshot
7.2.4 Operating Business Segments
7.2.5 Product Portfolio
7.2.6 Business Performance
7.2.7 Key Strategic Moves and Recent Developments
7.2.8 SWOT Analysis
7.3 SK ON
7.4 FARASIS ENERGY
7.5 DFD NEW ENERGY
7.6 EV ENERGIES
7.7 ENVISION AESC
7.8 SOUNDON NEW ENERGY
7.9 FOREVER NEW ENERGY
7.10 LITHIUM POWER SOURCE
7.11 LG CHEM
7.12 WANXIANG GROUP
7.13 RISESUN MGL
7.14 EVE
7.15 OTHER MAJOR PLAYERS
Chapter 8: Global Soft Pack Battery for Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
8.1 Market Overview
8.2 Historic and Forecasted Market Size By Vehicle Type
8.2.1 BEV
8.2.2 HEV
8.2.3 PHEV
8.3 Historic and Forecasted Market Size By End Users
8.3.1 2 or 3 Wheelers
8.3.2 Passenger Cars
8.3.3 Commercial Vehicles
Chapter 9: North America Soft Pack Battery for Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
9.1 Key Market Trends, Growth Factors and Opportunities
9.2 Impact of Covid-19
9.3 Key Players
9.4 Key Market Trends, Growth Factors and Opportunities
9.4 Historic and Forecasted Market Size By Vehicle Type
9.4.1 BEV
9.4.2 HEV
9.4.3 PHEV
9.5 Historic and Forecasted Market Size By End Users
9.5.1 2 or 3 Wheelers
9.5.2 Passenger Cars
9.5.3 Commercial Vehicles
9.6 Historic and Forecast Market Size by Country
9.6.1 U.S.
9.6.2 Canada
9.6.3 Mexico
Chapter 10: Europe Soft Pack Battery for Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
10.1 Key Market Trends, Growth Factors and Opportunities
10.2 Impact of Covid-19
10.3 Key Players
10.4 Key Market Trends, Growth Factors and Opportunities
10.4 Historic and Forecasted Market Size By Vehicle Type
10.4.1 BEV
10.4.2 HEV
10.4.3 PHEV
10.5 Historic and Forecasted Market Size By End Users
10.5.1 2 or 3 Wheelers
10.5.2 Passenger Cars
10.5.3 Commercial Vehicles
10.6 Historic and Forecast Market Size by Country
10.6.1 Germany
10.6.2 U.K.
10.6.3 France
10.6.4 Italy
10.6.5 Russia
10.6.6 Spain
10.6.7 Rest of Europe
Chapter 11: Asia-Pacific Soft Pack Battery for Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
11.1 Key Market Trends, Growth Factors and Opportunities
11.2 Impact of Covid-19
11.3 Key Players
11.4 Key Market Trends, Growth Factors and Opportunities
11.4 Historic and Forecasted Market Size By Vehicle Type
11.4.1 BEV
11.4.2 HEV
11.4.3 PHEV
11.5 Historic and Forecasted Market Size By End Users
11.5.1 2 or 3 Wheelers
11.5.2 Passenger Cars
11.5.3 Commercial Vehicles
11.6 Historic and Forecast Market Size by Country
11.6.1 China
11.6.2 India
11.6.3 Japan
11.6.4 Singapore
11.6.5 Australia
11.6.6 New Zealand
11.6.7 Rest of APAC
Chapter 12: Middle East & Africa Soft Pack Battery for Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
12.1 Key Market Trends, Growth Factors and Opportunities
12.2 Impact of Covid-19
12.3 Key Players
12.4 Key Market Trends, Growth Factors and Opportunities
12.4 Historic and Forecasted Market Size By Vehicle Type
12.4.1 BEV
12.4.2 HEV
12.4.3 PHEV
12.5 Historic and Forecasted Market Size By End Users
12.5.1 2 or 3 Wheelers
12.5.2 Passenger Cars
12.5.3 Commercial Vehicles
12.6 Historic and Forecast Market Size by Country
12.6.1 Turkey
12.6.2 Saudi Arabia
12.6.3 Iran
12.6.4 UAE
12.6.5 Africa
12.6.6 Rest of MEA
Chapter 13: South America Soft Pack Battery for Electric Vehicle Market Analysis, Insights and Forecast, 2016-2028
13.1 Key Market Trends, Growth Factors and Opportunities
13.2 Impact of Covid-19
13.3 Key Players
13.4 Key Market Trends, Growth Factors and Opportunities
13.4 Historic and Forecasted Market Size By Vehicle Type
13.4.1 BEV
13.4.2 HEV
13.4.3 PHEV
13.5 Historic and Forecasted Market Size By End Users
13.5.1 2 or 3 Wheelers
13.5.2 Passenger Cars
13.5.3 Commercial Vehicles
13.6 Historic and Forecast Market Size by Country
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of SA
Chapter 14 Investment Analysis
Chapter 15 Analyst Viewpoint and Conclusion
Global Soft Pack Battery for Electric Vehicle Market |
|||
Base Year: |
2022 |
Forecast Period: |
2023-2030 |
Historical Data: |
2017 to 2022 |
Market Size in 2022: |
USD 14.1 Bn. |
Forecast Period 2023-30 CAGR: |
13.2% |
Market Size in 2030: |
USD 38.02 Bn. |
Segments Covered: |
By Vehicle Type |
|
|
By End Users |
|
||
By Region |
|
||
Key Market Drivers: |
|
||
Key Market Restraints: |
|
||
Key Opportunities: |
|
||
Companies Covered in the report: |
|
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)
Frequently Asked Questions :
The forecast period in the Soft Pack Battery for Electric Vehicle Market research report is 2023-2030.
CATL, SK On, Farasis Energy, DFD NEW ENERGY, EV Energies, Envision AESC, SOUNDON NEW ENERGY, Forever New Energy, Lithium Power Source, LG Chem, Wanxiang Group, RiseSun MGL, EVE, and Other Major Players.
The Soft Pack Battery for Electric Vehicle Market is segmented into Vehicle Type, End Users, and Region. By Vehicle Type the market is categorized into BEV, HEV, and PHEV. By End Users, the market is categorized into 2 & 3-Wheeler, Passenger Cars, and Commercial Vehicles. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain etc.), Asia-Pacific (China; India; Japan; Southeast Asia etc.), South America (Brazil; Argentina etc.), Middle East & Africa (Saudi Arabia; South Africa etc.).
A soft pack battery consists of a polymer shell encasing a soft liquid lithium-ion battery. The aluminum-plastic film used as the battery cell packaging material differentiates this battery from others. The soft pack battery has good safety performance in terms of structure, volume, and weight. The benefits of light weight, large capacity, low internal resistance, and flexible design have begun to emerge and gain prominence.
The global soft pack battery for electric vehicle market is projected to grow from USD 14.1 billion in 2022 to USD 38.02 billion by 2030, at a CAGR of 13.2%.