EV Battery Market: Market Size & Forecast 2026

The global EV battery market is valued at approximately USD 92.7 billion in 2025 and is projected to reach approximately USD 203.9 billion by 2032, representing a compound annual growth rate of 10.1% over the seven-year forecast period. One in four new cars sold globally in 2025 was electric, and total battery installations reached 1,187 GWh in that year, confirming that the EV-battery demand super-cycle is firmly established. Yet the market sits in a paradox: demand grows at double-digit percentage rates while global manufacturing capacity significantly outpaces demand through 2025. China holds an estimated 50-60% of global cell-making capacity, creating a structurally oversupplied environment that compresses realised prices and concentrates supply risk in a single jurisdiction. Two lithium-ion chemistries - Lithium Iron Phosphate (LFP) and Nickel-Manganese-Cobalt (NMC) - each account f

Get in touch and our analysts will be happy to help with custom market sizing, deeper segmentation, supplier detail or a bespoke study built for you.