Summary of our market study

The global battery market, estimated at $104.31 billion in 2022, is set to grow at a CAGR of 15.8% to 2030. This market is strongly influenced by the growing demand for electric vehicles, the expansion of renewable energy sectors and the proliferation of consumer electronics, all of which are major users of batteries.

Lithium-ion batteries, which account for the lion's share of the market (40.8% by 2022), are particularly sought-after due to their light weight and their high energy density, which has led to their widespread adoption in smartphones and electric vehicles.

Asia-Pacific is the dominant player, generating over 56% of market revenues, with Asian companies, particularly China (56%), South Korea (26%), and Japan (10%).

France has seen significant market growth, and aims to play a central role in Europe, with the construction of new gigafactories and a surge in battery start-ups.

The French battery market remains predominantly an importer, with a 64% coverage rate. Initiatives such as the future Massif Central lithium mine could propel France to the position of second largest lithium producer in the world.

Rapid growth and innovation driven by electric mobility and renewable energy storage

The battery market in France has enjoyed a remarkable upward trajectory, particularly after the rebound that followed the global health crisis of 2020. This upturn in market activity is reflected in a 20.7% increase in sales growth between 2020 and 2021.

Electric mobility has been a particularly powerful catalyst for demand for batteries in France. Electric car registrations will grow by 157% in 2021 and 183% in 2022. Growth continues.

The adoption of renewable energies is being encouraged. The nascent battery energy storage market in France is experiencing significant investment and growth. Harnessing the power of renewable energies such as wind and solar power requires significant storage solutions.

Battery technology is also making inroads in the industrial sector, notably with TotalEnergies, which has begun operating one of the world's largest battery storage sites in Dunkirk, with a capacity of 61 MWh.

The French energy market needs considerable battery storage capacity, with projections ranging from 1 to 26 GW depending on the future energy mix scenario.

The country has seen a 59% increase in the number of establishments engaged in battery manufacturing over the past decade, with a total of 62 by 2022. Employment in this sector is expected to exceed 5,000 by 2022, an increase of 20.8% on 2020.

Battery market players

  • CATL Contemporary Amperex Technology: China's leading manufacturer of batteries for electric vehicles. The Chinese company supplies lithium-ion batteries to prestigious automakers such as Tesla, Peugeot, Hyundai, Honda, BMW, Toyota, Volkswagen and Volvo, playing a key role in the electrification of the automotive sector.
  • BYD: Another Chinese giant, BYD is a world leader in the battery market, notably for electric vehicles and energy storage solutions.
  • Samsung SDI: South Korean company, a global giant in the sector
  • LG Energy Solution: LG Energy Solution, a South Korean battery manufacturer, is a major player in the electric vehicle battery market.
  • Panasonic: collaborates with Tesla
  • Verkor: French start-up, a rising star specializing in low-carbon batteries. Verkor is poised to become a fully-fledged player in the European battery manufacturing landscape.
  • Olenergies: a startup producing sustainable, intelligent lithium batteries.
  • Tiamat: A CNRS spin-off, Tiamat is an example of the intersection between academic research and industry.
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Summary and extracts

1 Market overview

1.1 Introduction

A battery (or accumulator battery) refers to a juxtaposition of interconnected electrical accumulators that create an electrical generator of voltage and electrical capacity. The battery market can be segmented in several ways:

  • By technology
    • Lithium batteries ;
    • Lead batteries ;
    • Nickel batteries;
    • Alkaline batteries.
  • By type
    • Automotive batteries: designed to power automotive starting, lighting or ignition systems;
    • Industrial batteries: designed exclusively for industrial or professional use;
    • Portable batteries: sealed, hand-carryable batteries that are neither automotive nor industrial.

The battery market is dominated by global giants in electronics and automotive equipment, leaving little room for new entrants. Lithium-ion batteries, the most popular batteries, are used in cell phones and computers, as well as in electric vehicles (bicycles, cars, etc.). Lead batteries, on the other hand, are preferred for energy storage.

The global market, estimated at $104.31 billion in 2022, is set to grow at a CAGR of 15.8% to 2030. It is largely dominated by the Asian market, with the ten biggest companies in the sector coming from just three countries: China, Japan and South Korea. The main factors influencing the market are the falling price of lithium-ion batteries, whose price is just starting to rise, the rapid adoption of electric vehicles, the growth of the renewable energy sector and the increased sale of consumer electronics. On the other hand, the mismatch between supply and demand for the raw materials needed to manufacture batteries could hamper market growth.

The French market is also booming, after a slight downturn following the health crisis. France is home to a number of start-ups that are partnering with major automakers and expanding rapidly. Indeed, northern France is increasingly home to gigafactories producing impressive quantities of batteries. As a result, the French battery market is evolving rapidly, and could soon occupy a central role in Europe.

1.2 Asian hegemony on the world market

The global battery market was valued at $***.** billion in ****, and is expected to grow at a CAGR of **.*% to ****.

Sales forecast for the global battery market World, **** - ****, in $ billion Source: ****

The battery market, encompassing manufacturing, distribution and supply, is essential for many applications, including consumer electronics, automotive, renewable energy storage ...

1.3 A growing French market

The French battery market is included in the electrical batteries and accumulators market corresponding to NAF code **.**. Sales have been rising since ****, with an increase of **.*% over six years. This growth is set to accelerate with the biggest year in terms of sales growth from **** to ****. This **.*% increase is explained by ...

1.4 France is heavily dependent on imports

Unfortunately, it's not possible to obtain precise foreign trade figures for batteries, so we'll be looking at HS code ****: Batteries and primary cells, and parts thereof (***), which includes batteries. This will give us an idea of international trade trends in this sector.

Exports:

French exports of batteries by value France, **** - ...

2 Demand analysis

2.1 Breakdown of batteries imported and exported by France

A look at the breakdown of batteries imported and exported by France gives an idea of French market demand. France mainly imports manganese dioxide batteries (***).

Types of batteries imported and exported France, ****, percentage Source: ****

By ****, the Massif Central will be home to one of Europe's largest lithium mines, designed to supply ...

2.2 Growth in the number of electric cars in France

This strong demand for lithium-based batteries is due in part to strong growth in French demand for electric vehicles. Indeed, the number of electric car registrations in France grew steadily from **** to ****, then accelerated impressively, giving ***% growth from **** to ****, then a ***% increase from **** to ****, reaching over ***,*** registrations in the same year. ...

2.3 The development of battery-powered electricity storage in France

The energy storage sector in France is still in its infancy. Although hydraulic storage has been established since the ****s and ****s, public support for non-hydraulic storage, including battery storage, only began in the late ****s. Energy storage is essential for managing the flexibility of the energy system, responding to fluctuations ...

3 Market structure

3.1 The battery value chain

The following diagram details the battery value chain. The figures given for the main locations of the various production stages are taken from the UN Unctad Commodities at a glance **** benchmark study.

Source: ****

The following table gives details of the main companies involved in the various stages of battery production, as ...

3.2 The development of industry players in France

The number of establishments operating under NAF code **.**Z: Manufacture of batteries and electric accumulators has been growing for several years, reaching ** in **** (***).

trend in the number of establishments manufacturing batteries and electric accumulators France, **** - ****, in number of establishments Source: ****

The number of employees in the sector is also growing ...

3.3 The emergence of French battery start-ups

The number of French start-ups in the battery sector is on the rise, a sign that France not only wants to see the sector develop, but also intends to participate in it.

The best-known and most talked-about startup is Verkor, a company specializing in the production of low-carbon batteries, which was ...

3.4 Strategic positions for battery pack production by automakers

As the battery is one of the most expensive components in an electric vehicle, its production is a crucial issue for automakers.

However, there are different strategies in the industry. While Tesla seeks to produce its batteries in-house at its Gigafactories, other players prefer to outsource battery production to some degree.this ...

4 Offer analysis

4.1 Typology of batteries on the market

Source: ****

4.2 Review of batteries marketed in France

It can be seen that lithium-based batteries account for almost **% of the total number of units put on the market, followed by nickel-metal-hydride batteries at **%. Lead-acid batteries account for less than *%. It's interesting to note that the greater weight of lead-acid batteries can be seen in the mass distribution of batteries ...

4.3 Price trends for lithium-ion batteries

Between **** and ****, the average price of a battery pack for an electric vehicle fell by **%. This trend is consistent with the following graph, which details the price evolution of lithium-ion batteries, the most widely used by electric vehicle manufacturers. The price breakdown between battery cells and the block in which they ...

4.4 Raw materials prices

Battery manufacture relies onthe use of materials of varying raritylead, cobalt, lithium, zinc and nickel. It can therefore be interesting to look at the evolution of available prices - the price of lithium, for example, is not public. Prices for all materials peak in March ****, corresponding to the outbreak of the ...

5 Regulations

5.1 European legislation on batteries and accumulators and their waste

The primary aim of Directive ****/**/EC of the European Parliament and of the Council on batteries and accumulators and waste batteries and accumulators is to "limit the negative impact of batteries and accumulators and waste batteries and accumulators on the environment, thus contributing to the protection, preservation and improvement of the ...

5.2 French government subsidies for the purchase of electric vehicles

Decree no. ****-*** of May **, **** on aid for the acquisition or leasing of low-polluting vehicles offers €*,*** in aid to private individuals purchasing an electric car or utility vehicle, and €*,*** for companies. A €*,*** bonus is also available for plug-in hybrid cars. This aid is part of the automotive recovery plan announced by ...

6 Positioning the players

6. Segmentation

  • Tesla
  • CATL
  • LG Chem
  • Theion
  • Verkor
  • Viridian Lithium
  • Green Corp Konnection GCK
  • Vulcan Energy
  • Blue Solutions (Bolloré Groupe)
  • Alteo
  • Iten
  • Panasonic
  • Tiamat Energy
  • Eramet
  • Tyva Energie
  • Li-Cycle
  • Limatech
  • Inocel
  • Glencore
  • Neogy (Startec Energy Groupe)
  • GS Yuasa
  • BYD
  • Foresee Power
  • Batteries Prod
  • Vélo Batterie- Batteries Prod
  • Toyota
  • Stellantis (Groupe PSA et Fiat)
  • Volkswagen Group
  • Audi (Volkswagen Group)
  • Tata Group
  • Bolloré
  • Mecaware
  • Nawa Technologies
  • BMW
  • Samsung Group
  • SK Group Korea
  • Nissan
  • Arkema groupe
  • Mob-Energy
  • Batconnect

List of charts presented in this market study

  • Market share of battery manufacturers for electric vehicles
  • Sales forecasts for the global battery market
  • Sales of batteries and accumulators manufacturing market (NAF 27.20Z)
  • French exports of batteries by value
  • French exports of batteries by volume
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Latest news

Withdrawn after two fires, Bolloré's electric buses make a comeback in Paris - 17/04/2024

**The Bluebus stopped circulating two years ago after some impressive fires.

**Bluebus return to the RATP network

**Number of Bluebuses withdrawn from service after the fires**: 148.

**Battery technology**: lithium metal polymer (LMP), different from conventional lithium-ion technology, with a solid electrolyte presented as safer.

**Number of Bluebuses scheduled for redeployment on the RATP network**: 232, including 84 new units, between now and the Olympic Games.

Inocel raises €64 million to industrialize its hydrogen fuel cells - 28/03/2024
  • - Target markets: stationary power generation, land-based heavy mobility (trucks, construction equipment, trains, shipping).
  • - Purchasing intentions: 1 billion euros, to be converted into firm orders between 2024 and 2030.
  • - Sales forecast for 2024: between a few hundred thousand euros and 2 million.
  • - Expected revenues in 2025: over 10 million euros.
  • - Sales target for 2030: 100 million euros.
  • - Workforce: around 80 at present, more than a hundred expected by the end of 2024
  • - The Belfort site is designed for 700 employees
BYD: the meteoric rise of the Chinese auto giant - 26/03/2024
  • - Sales growth: +42% over the past year.
  • - Total sales**: 76.8 billion euros.
  • - Number of cars sold: 3.02 million last year.
  • - Increase in car sales**: +62% year-on-year.
  • - Ranking among the world's leading automakers**: 10th.
  • - Sales outside the People's Republic**: 242,000 units
  • - Market share of 100% electric vehicles in China**: 25% by 2023.
  • - Increase in profits**: +81% last year.
  • - Total profits**: 3.83 billion euros.
  • - Registrations in Western Europe**: 23,300 units in February, down almost 30% on December and January.
Verkor's strategy to dominate the European electric battery market - 18/03/2024
  • - Verkor gigafactory commissioning: 2025
  • - Site size: 100,000 square meters on an 80-hectare site
  • - Employment: 1,200 direct jobs, 3,000 indirect jobs
  • - Production capacity: batteries for 300,000 electric vehicles per year
  • - Verkor capital raising: 2 billion euros in September 2023
  • - Public funding received: €650 million
  • - Key investors: Renault, Medidiam, Macquarie, Fonds stratégique de participation
  • - Initial production target: Alpine electric crossover, launch in 2025
  • - Product positioning: "clean" (low-carbon) batteries for the high-end market
Tesla: green light from China for Elon Musk's giant battery factory - 22/12/2023
  • Tesla has signed an agreement to acquire land on the outskirts of Shanghai to build a giant battery factory.
  • This is their second factory in China's economic capital, the first being an automotive gigafactory installed in 2019.
  • Construction of the battery plant is due to start in the early months of 2024, with commissioning scheduled for the end of next year.
  • It is to have a production capacity of 10,000 batteries a year.
  • The "Megapacks" business accounted for just 5% of Tesla's sales at the start of 2023, but recorded a 40% increase in sales in 2022, reaching $3.9 billion.
  • Tesla installed Megapack batteries totaling 6.5 gigawatt-hours in 2021
  • China asserts itself as world leader in renewable energies
Stellantis takes a radical turn in China. - 09/12/2023
  • Signature of a strategic partnership with Chinese automotive start-up Leapmotor.
  • Stellantis will acquire a stake of around 21% in the company for a total of 1.5 billion euros.
  • The two companies will also set up a joint venture, Leapmotor International, 51% owned by Stellantis.
  • Based in the Netherlands, it will "have exclusive rights to manufacture, export and sell Leapmotor products outside China"
  • The Leapmotor International joint venture is targeting 500,000 sales outside China by 2030.
  • Deliveries from the Leapmotor International joint venture are scheduled to begin in the second half of 2024.
  • Stellantis terminated its joint venture with Guangzhou Automobile Group (GAC) in July 2022.
  • Stellantis sold three local plants to the Chinese group Dongfeng.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Tesla
CATL
LG Chem
Theion
Verkor
Viridian Lithium
Green Corp Konnection GCK
Vulcan Energy
Blue Solutions (Bolloré Groupe)
Alteo
Iten
Panasonic

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