Market Research ReportDec 2, 2022

Hybrid EV Battery Market

Hybrid EV Battery Market Research Report: Size, Share, Trend Analysis Application (Hybrid EV, Plug-in Hybrid EV), Type (Lithium-ion, Lead Acid, Nickel based, Others) and By Region (Middle East and Africa, North America, Asia Pacific, Europe, South America) - Growth Outlook & Industry Forecast To 2025

Vertical: AutoBase Year: 2018

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Executive Summary

Hybrid EV Battery Market — Snapshot

Market Size (2018)
$6.36B
Projected (2025)
$23.93B
CAGR (2016–2025)
18.9%
Key Players
10+

Hybrid battery is an integral component of hybrid vehicles having the ability to get recharged. Hybrid batteries are also capable of improving acceleration and fuel efficiency of hybrid vehicles. These batteries have generally two electrodes that get fixed in an iron-rich solution, commonly known as electrolyte. Hybrid batteries have an average lifespan of five to six years.

The Global Hybrid EV Battery market was valued at USD 6,358.80 Million in 2018 and is expected to reach USD 23,932.42 million in 2025 with a compound annual growth rate (CAGR) of 21.93% during the forecast period. In 2018, the market was led by Asia-pacific, with a 38.95% share, followed by Europe and North America with shares of 28.53% and 25.62%, respectively.

The Hybrid EV Battery market has been segmented based on type, application and region. On the basis of type, the lithium-ion units segment dominated the market with a share of 68.56%, valued at for USD 4,359.34 million in 2018; it is projected to grow at a CAGR of 20.62% during the forecast period. On the basis of application, the Hybrid EV segment dominated the market with a share of 70.26%, valued at USD 4,467.42 million in 2018; it is projected to grow at a CAGR of 19.95% during the forecast period.

Key Insight

The Hybrid EV Battery Market market is projected to grow at a CAGR of 18.9% from 2016 to 2025.

Market Performance Trend

Historical performance and future projections (2020–2030, USD Billion)

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Market Scope & Coverage

What this report covers

Geographic Coverage: This analysis covers 5 regions: Middle East and Africa, North America, Asia Pacific, Europe, South America.
Market Segmentation: The market is analyzed across 2 segments: Hybrid EV, Plug-in Hybrid EV. Forecasts are provided for each segment from 2016 to 2025.
Competitive Landscape: 10 leading companies are profiled, covering market positioning, strategies, and recent developments.

Market Size (USD Mn)

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Market Overview

Hybrid EV Battery Market — Growth Trajectory

The global hybrid EV battery market is projected to grow at a high rate during the forecast period. The high fuel costs, environmental concerns and increase In demand for plug-in hybrid EVs. In line with this, alternate vehicles including hybrid and plug in hybrid vehicles are introduced to the automotive industry as a part of corrective measures for improving environment pollution. Moreover, increasing adoption of hybrid vehicles in developing countries would present an opportunity for the global hybrid EV battery market.

Hybrid EV Battery Market — Growth Trajectory

Hybrid EV

Plug-in Hybrid EV

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Market Size Trend (USD Mn)

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Market Dimensions

How this market is segmented

Application is analyzed as a distinct market dimension.
Type is analyzed as a distinct market dimension.

Geographic Analysis

Regional market breakdown

Middle East and Africa market size reached $83.13M in 2016 and is projected to reach $217.79M by 2025, growing at a CAGR of 11.3%.
North America market size reached $1.25B in 2016 and is projected to reach $6.84B by 2025, growing at a CAGR of 20.8%.

Asia Pacific market size reached $1.93B in 2016 and is projected to reach $9.77B by 2025, growing at a CAGR of 19.7%.
Europe market size reached $1.47B in 2016 and is projected to reach $6.22B by 2025, growing at a CAGR of 17.4%.
South America market size reached $305.27M in 2016 and is projected to reach $887.99M by 2025, growing at a CAGR of 12.6%.

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Research Methodology

Hybrid EV Battery Market — How We Researched This Market

This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.

Base Year
2018
Historical Period
2016 – 2017
Forecast Period
2019 – 2025
Primary Interviews
150+

Research Process

Historical data (2016–2018) and forecast period (2018–2025)

Problem Definition

Market scoping
Objective setting
Framework design

Secondary Research

Literature review
Data mining
Trend analysis

Primary Research

Expert interviews
Field visits
Surveys

Data Analysis

Quantitative modeling
Statistical testing
Validation

Insights & Reporting

Synthesis
Recommendations
Visualization

Research Depth

Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.

Historical vs. Forecast Data

Historical (observed)

Forecast (modelled)

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Competitive Landscape & Porter's Five Forces

Hybrid EV Battery Market — Competitive Analysis

The global hybrid EV battery market is comprised of many global and regional players. The companies have been adopting the strategy of new product development to increase the applications of their products and strengthen their position in the market. High competition, rapid changes in technology, and cost-efficient products by industry participants are the key factors that impact market growth. Vendors compete based on product quality, cost, and reliability. It is vital for these players to offer cost-effective and superior technology to excel in the competitive market environment. The companies are investing in the research and development (R&D) activities to improve the hybrid EV battery technologies in terms of eco-friendly parameters to meet the automotive industry standard.

The growth of the market vendors depends on the market conditions and economic development. Thus, they have been observed focusing on improving their products and expanding their regional presence through collaboration with online and offline distributors and retailers. The key players include Panasonic Industry Europe GmbH, CATL, LG Chem, BYD Company Ltd, and Samsung SDI Co., Ltd. These companies have primarily accounted for approximately 64.1% market share in the global hybrid EV battery market.

The above-mentioned manufacturers are dominating the market due to their enhanced product portfolios, vast industry experience, and geographic reach. Players with access to better technologies can develop innovative and unique products and services, which could render the competitors’ offerings, obsolete. The competitive environment in the market is likely to intensify further due to the increasing product innovation efforts and partnerships between the hybrid EV battery manufacturers and distributors & dealers during the forecast period.

Quantitative Analysis

Regional Breakdown

Regional market breakdown for Hybrid EV Battery Market.

Regional Market Size (USD Mn)

Market estimates by geography (2025)

USD Mn

InsightAsia Pacific leads with $9.77B by 2025, while North America is projected to grow fastest at a 20.8% CAGR.

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Regional Market Data

REGION	2016	2018	2025	CAGR	SHARE
Middle East and Africa	$83.13M	$123.01M	$217.79M	11.3%	1%
North America	$1.25B	$2.78B	$6.84B	20.8%	29%
Asia Pacific	$1.93B	$4.12B	$9.77B	19.7%	41%
Europe	$1.47B	$2.84B	$6.22B	17.4%	26%
South America	$305.27M	$478.75M	$887.99M	12.6%	4%
Total	$5.03B	$10.34B	$23.93B	18.9%	100%

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Segment Revenue (2025)

Hybrid EV

Plug-in Hybrid EV

0491317

Hybrid EV63%
Plug-in Hybrid EV37%

Total Market Size

$23.93B

Market by Segment (2025)

APPLICATION	REVENUE ($B)	GROWTH RATE	MARKET PENETRATION
Hybrid EV	$15.08B	17.3%	63%
Plug-in Hybrid EV	$8.85B	22.4%	37%

* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.

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Analytics

Hybrid EV Battery Market — Key Findings

Analytical insights on Hybrid EV Battery Market covering market dynamics, competitive landscape, and strategic outlook.

Key Analytical Findings

The Hybrid EV Battery Market market is projected to reach $23.93B by 2025, growing at 18.9% CAGR. The Hybrid EV segment holds the largest share.

Market Dynamics

The hybrid EV battery are expected to witness high growth over the forecast period. The growth of hybrid EV battery market is driven by the high fuel costs and environmental concerns and the increase in demand for plug-in hybrid EVs. However, volatile raw material prices hinder the growth of the market. The recycling of hybrid EV batteries creates an opportunity for the market players.

Market Drivers

The growth in demand and consumption of hybrid EV batteries is highly influenced by the increasing fuel costs and the environmental concerns among governments and consumers, which results in strict government standards primarily in the developed countries, such as the US, Germany, Norway, the Netherlands, and Japan as well as in the developing countries such as China and India. Governments have been encouraging the users to minimize the fuel consumption while promoting environmental awareness programs to reduce vehicle pollution. For instance, in May 2019, the US Department of Energy imposed a federal tax credit of USD 2,500 to USD 7,500 to the consumers for all the domestic purchase of plug-in hybrid EVs with the objective to reduce the vehicular pollution. This has widely led to the demand for hybrid EVs in the US and has further raised the production and consumption of hybrid EV batteries in the market.

Therefore, growing fuel prices in the global market leads to the increased demand for hybrid EVs and the consumption of hybrid EV batteries in the market during the forecast period. Thus, the impact of the high fuel costs and environmental concerns is expected to shift from moderate to high over the forecast period.

Market Opportunities

The primary raw materials used to manufacture hybrid EV batteries are lithium, cobalt, and nickel. Such materials are scarce owing to the need for high-level extraction. According to the Linklaters LLC, it is estimated that there is need for investments worth USD 30-45 billion for global mining capacity of raw materials by 2025 to meet the demand for EVs and their batteries.

There has been an extensive adoption of lithium-ion batteries in the HEVs and wide availability of post-consumer batteries in the global market. Such availability of batteries and the focus on further development have so far restricted the battery-recycling infrastructure. Thus, the incorporation of government policies and guidelines for the collection, storage, transportation, and recycle of waste or used batteries from the HEVs are expected to create opportunities for providers as the battery recycling activity is still a less tapped area of business. Moreover, the limited lifespan of batteries in HEVs are increasing the volume of used batteries in the ecosystem of EVs. In the European Union (EU), the US, and China have been already investing in regulatory developments to drive recycling activities in order to minimize the dependence on the import of hybrid EV batteries in the domestic market. For instance, in the US, the state-level government facilitated the reuse of HEV batteries as the states regulate the disposal and recycling of batteries for responsible waste management by battery manufacturers. It is expected that the rise in hybrid EV battery recycling activities will enhance the profit margins for the hybrid EV battery manufacturers and increase its availability in the global market at lower costs, which is further expected to reduce the overall hybrid EV cost. Such factors are expected to propel the demand for HEVs and its batteries in the market during the forecast period.

Therefore, hybrid EV battery recycling is expected to create opportunities for the global hybrid EV battery market players during the forecast period.

Market Restraints

Monitoring the prices of raw materials is difficult as they fluctuate with irregularity and without any discernible pattern. Both, raw material and manufacturing costs involved in hybrid EV battery manufacturing are important aspects for manufacturers. The companies cannot gauge the risk of fluctuation in raw material costs which is based on the economic conditions, material availability, and the supply chain of the material. The prices of lithium, nickel, and cobalt, which are crucial raw materials used to manufacture hybrid EV batteries, often fluctuate due to market conditions, international commodity prices, and other factors. Thus, the availability of raw materials at suiting prices depends on the market demand and the government regulations.

The below figure depicts the prices of lithium between 2015 and 2019, which is predominantly used in the hybrid EV batteries.

The cost of a raw materials plays a key role in the pricing of the batteries, which further has an effect on the vehicle prices. Therefore, such variations in raw material prices are expected to restrain the demand of hybrid EV batteries during the forecast period. However, the automotive OEMs have been signing long-term agreement in terms of joint ventures and partnerships with the battery manufacturers to reduce the risk of the volatility of the raw material. Thus, the impact of volatile raw material prices in the hybrid EV battery market is expected to shift from high to moderate over the forecast period.

Strategic Outlook and Future Directions

Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.

Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.

Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.

Market Value by Segment (2025)

Value (USD Mn)

Hybrid EV

Plug-in Hybrid EV

Companies

Key companies profiled in Hybrid EV Battery Market

Profiles of 104 companies operating in the Hybrid EV Battery Market market, including revenue, employee count, and market positioning where available.

Region

Industry

Founded Year

Showing 104 of 104 companies

Nissan Mot

Nissan Motor Corporation

Energy & Power

Company Headquarters: Kanagawa Prefecture, Japan Founded: 1933 Workforce: ~ 139,000 Company Working: Nissan Motor Corporation is a global automobile player that manufactures and distributes diversified vehicles, globally. Itis one of the leading OEMs in Asia-Pacific and produced nearly 5.7 million units in 2017. It manufactures, sells, and distributes IC vehicles, hybrids, and electric vehicles in the global market. It invested USD 4,446.24 million in the research & development of vehicles and technologies, which accounts for 4.1% of a total revenue in 2017. The company manages and offers services in more than 160 countries and manufactures vehicles in around 20 countries, across the globe. It has formed partnerships, such as Nissan-Renault and Renault-Nissan-Mitsubishi and other strategic alliances. Moreover, the company owns six brands, namely Nissan, Infiniti, Datsun, Heritage, Motorsports, Jatco, Autech, and NISSAN CROSSING.

Kanagawa Prefecture, Japan

BYD Co. Lt

BYD Co. Ltd

Energy & Power

Company Headquarters: Shenzhen, China Founded: 1995 Workforce: ~ 221,000 Company Working: BYD Co. Ltd. Is engaged in the research, development, manufacture, and sale of rechargeable batteries and photovoltaic business. It operates its business through four segments, namely, rechargeable battery and other products, automobiles and related products, mobile handset components and assembly service, and corporate and others. The rechargeable battery and other products segment manufactures and sells lithium-ion and nickel batteries for mobile phones, electric tools, and other portable electronic instruments and new energy products. The mobile handset components and assembly service segment covers mobile handset components, such as housings, keypads, and the provision of assembly services. The automobiles and related products segment is comprised of the businesses of automobiles, auto-related molds and components, automobiles leasing, aftersales services, and its skyrail-related business.

GS Yuasa International Ltd

Energy & Power

Company Headquarters: Kyoto, Japan Founded: 2004 Workforce: ~14,217 Company Working: GS Yuasa International Ltd. is a holding company, which is engaged in manufacturing and supplying power supply systems, batteries, various specialty electrical equipment, and lighting equipment. Domestic automotive batteries, automotive lithium-ion batteries, overseas operations, domestic industrial batteries and power supplies, and other are its business segments. The domestic automotive batteries segment produces and sells lead-acid batteries for automotive. The domestic industrial batteries and power supplies segment covers rectifiers, lead, alkali, and general batteries, and power supply systems. The overseas operations segment manufactures and markets batteries and power supply devices in the international market. The automotive lithium-ion batteries segment handles lithium-ion batteries for vehicles. The other segment includes environment-related equipment, mobile communication batteries, battery-related equipment, and battery manufacturing equipment. GS Yuasa International Ltd. has 39 manufacturing plants in 19 countries worldwide. Yuasa Battery, Inc., Siam GS Battery Co., Ltd., Lithium Energy Japan Corporation, Century Yuasa Batteries Pty Ltd, GS Kasei Kogyo Co., Ltd., and Yuasa Logitec Co., Ltd. are some of the subsidiaries of the company.

United States, North America

DiDi Globa

DiDi Global Inc.

Automotive

Company Headquarters: China Founded: 2012 Workforce: ~15,914 Company Working: DiDi Global Inc. stands as the leading mobility technology platform worldwide, delivering a diverse array of app-based services across Asia-Pacific, Latin America, and Africa. Its offerings include ride hailing, taxi hailing, chauffeur, hitch, and other shared mobility solutions, alongside auto solutions, food delivery, intra-city freight, and financial services. DiDi is dedicated to fostering flexible work and income opportunities for car owners, drivers, and delivery partners. Through AI technology and localized smart transportation innovations, it collaborates with policymakers, the taxi and automobile industries, and communities to tackle global transportation, environmental, and employment challenges. DiDi's aim is to establish a safe, inclusive, and sustainable transportation and local services ecosystem, enriching city experiences and fostering social value for the future.

Samsara Inc

Company Headquarters: US Founded: 2015 Workforce: ~1616 Company Working: Samsara Inc (Samsara) develops a connected operations platform for tracking fleets of vehicles and other equipment. The platform provides real-time data on location, speed, fuel consumption, and other metrics. It also includes features for safety management, driver coaching, and asset tracking. Samsara's customers include businesses in a variety of industries, including transportation, construction, field services, and logistics. Samsara's connected operations platform can help businesses improve their safety, efficiency, and sustainability. By providing real-time data and insights, Samsara can help businesses make better decisions about how to operate their fleets and assets. This can lead to reduced costs, improved safety, and increased productivity.

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About the Author

Automotive Technologies & Semiconductor & Electronics Research Team

Automotive · Automotive Technologies & Semiconductor & Electronics

Wantstats' automotive analysts wrote this report from the ground up — tracking OEM production data, supplier shifts, and regulatory changes across the markets that matter most. Every figure has been checked against proprietary datasets and reviewed internally before publication. This report specifically covers the Automotive Technologies & Semiconductor & Electronics space within that portfolio.

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Michael Robert

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Thanks, I am so happy that we worked together. Maybe we still can work together in the future.

Joseph Aguayo

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Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.

Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.

Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.

Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.

Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.

Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!

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R&D Director, Seojin

Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.

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Hybrid EV Battery Market

Hybrid EV Battery Market Research Report: Size, Share, Trend Analysis Application (Hybrid EV, Plug-in Hybrid EV), Type (Lithium-ion, Lead Acid, Nickel based, Others) and By Region (Middle East and Africa, North America, Asia Pacific, Europe, South America) - Growth Outlook & Industry Forecast To 2025

Starting from

$4,950

Hybrid EV Battery Market

Key Insight

Market Performance Trend

Market Scope & Coverage

What this report covers

Hybrid EV Battery Market — Growth Trajectory

Market Size Trend (USD Mn)

Market Dimensions

How this market is segmented

Geographic Analysis

Regional market breakdown

Problem Definition

Secondary Research

Primary Research

Data Analysis

Insights & Reporting

Research Depth

Historical vs. Forecast Data

Competitive Landscape & Porter's Five Forces

Hybrid EV Battery Market — Competitive Analysis

Regional Market Data

Segment Revenue (2025)

Segment Market Share

Market by Segment (2025)

Save over 20% onAnnual Subscription

Key Analytical Findings

Market Dynamics

Market Drivers

Market Opportunities

Market Restraints

Strategic Outlook and Future Directions

Market Value by Segment (2025)

About the Author

Automotive Technologies & Semiconductor & Electronics Research Team

Market Performance Trend

Hybrid EV Battery Market — Growth Trajectory

Market Size Trend (USD Mn)

Market Dimensions

How this market is segmented

Geographic Analysis

Regional market breakdown

Problem Definition

Secondary Research

Primary Research

Data Analysis

Insights & Reporting

Research Depth

Historical vs. Forecast Data

Competitive Landscape & Porter's Five Forces

Hybrid EV Battery Market — Competitive Analysis

Regional Market Data

Segment Revenue (2025)

Segment Market Share

Market by Segment (2025)

Save over 20% onAnnual Subscription

Key Analytical Findings

Market Dynamics

Market Drivers

Market Opportunities

Market Restraints

Strategic Outlook and Future Directions

Market Value by Segment (2025)

About the Author

Automotive Technologies & Semiconductor & Electronics Research Team

Save over 20% on
Annual Subscription

Save over 20% on
Annual Subscription