Germany electric vehicle battery market is anticipated to showcase a double-digit growth rate during the forecast period. Cohesive government initiatives, presence of well-established automobile manufacturing industry, and rising electric vehicle sales are the major factors that are making significant contribution towards the growth in the electric vehicle batteries market share. To accelerate large-scale battery production in Germany, in June 2019, the German government provided $1.0 billion fund to German companies and an additional $540 million to support research into both existing and next-generation electric vehicle batteries.
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The market is segmented on the basis of battery type vehicle type, and propulsion technology. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on the battery type Li-ion batteries market is anticipated to exhibit considerable growth due to its light-weight characteristic. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicle, plug-in hybrid electric vehicle. Based on the propulsion type, plug-in hybrid vehicles are anticipated to have considerable market growth during the forecast period.
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Contemporary Amperex Technology Co., Ltd., BMZ Batterien-Montage-Zentrum GmbH, Liacon GmbH, and Hankook AtlasBX Co., Ltd. among others are the key electric vehicle battery manufacturers operating in the country’s electric vehicle battery market. These players are actively involved in the expansion of their market share by adopting several growth strategies such as launch of new battery manufacturing plants or entering into partnership with the major electric vehicle manufacturer operating in the country. For instance, in February 2020, German chemical giant BASF is aiming to construct a new battery materials production site in Schwarzheide, near Dresden. The construction of electric vehicle battery plant by company is under its investment plan to take part in the European electric vehicle value chain.
Germany Electric Vehicle Battery Market- Segmentation
By Battery Type
- NiMH
- Li-Ion
- Others
By Vehicle Type
- Commercial Vehicles
- Passenger Cars
- Two-Wheelers
By Propulsion Technology
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicle
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