The cell-to-pack battery market is valued at USD 5,412.1 million in 2023, powered to reach a value of USD 27,871.9 million by 2030, powering at a considerable compound annual growth rate of 26.8% during 2024–2030.
This is as a result of the widespread usage of these batteries in e- vehicles, powered by the increasing environmental concerns and increasing pollution levels. This brings about an increase in the requirement for high-energy density batteries, which could boost the driving range of the vehicles.
Governments all over the world are mandating the use of e- buses in urban areas to decrease the level of pollution, boosting the requirement for cell-to-pack battery.
The prismatic category had the largest share, of 60%, and it will grow at a considerable rate, of about 28% in the years to come.
This is for the reason that, prismatic cells are more consistently shaped, which is the reason designing efficient thermal management systems turn out to be simpler.
APAC cell-to-pack battery market has the highest revenue, of USD 2.5 billion, and it will grow at a substantial rate, of 30%, to continue its ascendency in the years to come.
This is because of the presence of the major battery manufacturers and the increasing requirement for electric vehicles in the region. The growing populace and increasing levels of pollution have created an enormous requirement for sustainable practices.
Moreover, China has played a considerable part in the growth of the regional industry as it is an important producer of these sources of power and electric vehicles at a global level.
Furthermore, the regional governments are offering financial incentives and other support for promoting the growth and acceptance of EVs. India’s EV industry is also increasing due to tech progressions and the increasing requirement for EVs.
It is because of the surge in the requirement of high-energy demand batteries all over the world, the demand for cell-to-pack batteries will increase notably in the years to come.
