SAN FRANCISCO , Dec. 14, 2021 /PRNewswire/ -- The global EV battery market is expected to witness sustainable growth (CAGR of 16%) from 2020 to 2025 due to the rising demand for electric vehicles across the world. The continuous rise in the adoption of electric vehicles due to the COVID-19 pandemic and the high fuel prices has increased the need for new technology development across the electric vehicle battery market. A startup EV battery manufacturer QuantumScape, funded by the likes of Volkswagen, has raised USD 1.5 billion intending to manufacture low-cost batteries that could lead to electric vehicles with significantly longer ranges, are safer to operate, boast longer lifespans and support faster charging. Rather than using the industry-standard mixed-metal cathode as the separator, QuantumScape has developed a solid ceramic separator. The battery is manufactured without the anode and the electrolyte making it more compact, more energy-dense, and safer to operate. When the battery is charged and discharged, the lithium metal moves through the separator and creates a thin layer of a lithium-metal anode. By using this battery, an electric vehicle could charge to 80% of capacity in 15 minutes compared to the conventional hour-long charging times.
Another EV battery manufacturer OneD Battery Sciences has created SINANODE, which integrates into existing manufacturing processes, tripling the energy density of the anode while reducing its cost per kWh by half. The higher energy density increases battery range while nanowires reduce the charging time. Leading graphite suppliers, battery and electric vehicle manufactures in the U.S., Europe , and Asia , have tested SINANODE by applying the technology to commercial EV-grade graphite used in the anodes of EV batteries. SINANODE was developed with commercial manufacturing CVD equipment available from multiple vendors, using only silane and nitrogen gases. This reduces the investments and time necessary to scale up the SINANODE step to EV quantities, while decreasing the cost of EV anodes by almost 50%, compared to the cost of most of the anodes used in EV batteries today.
Electric Vehicle Battery Industry Procurement Intelligence report, by Grand View Research, deep dives into the following insights from the industry:
Growing adoption of electric vehicles is aiding to the growth of EV battery market
the Government of India is planning to set up 69,000 charging stations across the country by 2030. Moreover, the increasing efficiency starting from charging station set-ups to fast charging of the electric vehicle is expected to create a significant growth opportunity for the market in near future. With the growing requirement for EV batteries, the suppliers are finding newer sourcing and procurement methods for optimizing the cost of manufacturing, reducing the volatility of obtaining raw materials, and improving profitability.
The global EV battery market is fragmented and competitive, with many large suppliers collaborating with mid-sized or small-sized companies to leverage their regional manufacturing capabilities
Leading EV battery suppliers are mostly manufacturing EV batteries for their in-house charging infrastructure development. Hence, the competition is particularly high among the smaller regional EV battery suppliers. An increase in mergers and acquisitions, coupled with diffused customer concentration, has enabled the EV battery suppliers to secure add-on offerings to realize growth in new geographies.
Raw material costs make up the bulk of the cost head. The total cost of ownership is significantly influenced by the cost of integrating the battery in the electric vehicle. – Raw materials, including lithium, graphite, MN+Li+Co, are the biggest cost component of EV battery manufacturing; accounting for more than 60% of the total cost.
The Asia Pacific region holds the highest share of the global EV battery market, thanks to China's position as the leading sourcing destination due to its low cost of labor. - The majority of the big players in the market are based out of APAC. It is also the fastest-growing market, owing to the supportive policies of China's government and the development of China as the global EV battery manufacturing hub. However, the majority of the EV battery produced in China are sold to domestic electric vehicle manufacturing companies.
EV Battery Industry – Cost Intelligence Highlights:
Grand View Research has identified the following key cost components for EV Battery Industry:
SG&A Overheads and R&D
Raw material cost, the major cost component of an EV battery, accounts for more than 60% of the total cost of manufacturing.
EV battery Industry – Supplier Intelligence – Capability based ranking & selection criteria with weightage:
List of Key Suppliers in the EV Battery industry:
Addon Services offered by Grand View Research:
Should Cost Analysis – Raw material cost accounted for more than 65% of the overall cost of EV battery manufacturing. Key raw materials include lithium, graphite, manganese, and cobalt. Among these, lithium has the highest cost share in overall EV battery manufacturing cost with 35%. Lithium price has been witnessing a significant drop since 2017 due to over-supply caused by an avalanche in Australia , the leading lithium producer. Labor cost is the key cost component of overhead costs. Trends of market correction in terms of salary are resulting in the rise of labor wage globally. However, salaries offered are based on region-centric policies. Therefore, shifting procurement and manufacturing practices to LCC countries could help manufacturers drive down the cost of labor.
Rate Benchmarking – The type of EV battery is one of the most important aspects while analyzing the rate benchmarking of EV battery manufacturing. In our research, we have analyzed the rates of lithium-ion (Li-ion) batteries, sodium-nickel-chloride (NA-NiCl2) batteries, nickel-metal hydride (Ni-MH) batteries, and lithium-sulfur (Li-S) batteries. NA-NiCl2 are the most expensive batteries in the market. The average price of these batteries is 50%-60% higher than Li-ion and Li-S batteries. However, Li-ion and Li-S batteries have a 30% lower price to maximum charge ratio than NA-NiCl2 batteries. Moreover, the normal voltage of Li-ion batteries is 10% higher than NA-NiCl2, and Ni-MH batteries. Hence, using Li-ion and Li-S batteries will give more cost-benefit while installing it in an electric vehicle.
Salary Benchmarking – Our research indicates that the Production Supervisor/Manager of LG Energy Solution, Panasonic, and Samsung SDI earn 35% higher salaries than Production Supervisor/Manager from other industry leaders like CATL and BYD. However, the YoY increment rate in such companies largely depends on KRAs.
Supplier Newsletter – It is cumbersome for any organization to continuously track the latest developments in their supplier landscape. Our newsletter service helps them remain updated, to avoid any supply chain disruption which they may face, and keep a track of the latest innovations from the suppliers. Outsourcing such activities help clients focus on their core offerings.
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.
Our services include (not limited to):
Market Intelligence involving – market size and forecast, growth factors, and driving trends
Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
Browse through Grand View Research's collection of procurement intelligence studies:
Patient Engagement Solutions Market Procurement Intelligence – The global patient engagement solutions market is expected to witness sustainable growth (CAGR of 21%) from 2020 to 2025 mainly due to the rapid penetration of mhealth applications and platforms into the healthcare industry coupled with the provision of uninterrupted and rapid internet access utilizing 3G and 4G networks.
Vitamins and Dietary Supplements Market Procurement Intelligence – The global vitamin and dietary supplements market is expected to exhibit a CAGR of 4.9% from 2020 to 2025 with capsules and tablets being the most consumable dosage form of supplements. Powder is expected to emerge as the fastest-growing dosage form from 2020 to 2025 with a projected CAGR of 6.4% from 2020 to 2025.
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com Web: https://www.grandviewresearch.com Follow Us: LinkedIn | Twitter
View original content:https://www.prnewswire.com/news-releases/ev-battery-industry-procurement-intelligence-study-increasing-fuel-prices--rising-adoption-of-electric-vehicles-has-propelled-the-need-for-procurement-of-electric-vehicle-batteries--grand-view-research-inc-301443837.html
SOURCE Grand View Research, Inc.
The Oracle of Omaha knows how to beat inflation. So ride his coattails.
(Bloomberg) -- Europe is getting a taste of how bad this winter’s energy crisis could get as Kosovo starts cutting electricity supplies to most of its 2 million people.Most Read from BloombergLarry Summers Predicts the Future, and It Doesn’t Look GoodSingapore's Travelers Face Omicron ChaosUnited and Delta Cancel Hundreds of Christmas FlightsHundreds of Flights Canceled; U.K. Cases at Record: Virus UpdateSingapore Is No Place to Spend QuarantineThe Balkan country, one of Europe’s poorest nations
(Bloomberg) -- Exxon Mobil Corp. says an overnight fire at its Baytown, Texas, refinery that injured four people has been extinguished. Most Read from BloombergLarry Summers Predicts the Future, and It Doesn’t Look GoodSingapore's Travelers Face Omicron ChaosUnited and Delta Cancel Hundreds of Christmas FlightsHundreds of Flights Canceled; U.K. Cases at Record: Virus UpdateSingapore Is No Place to Spend QuarantineThe blaze occurred at 1 a.m. local time at the plant, which is the fourth-largest i
(Bloomberg) -- Intel Corp. apologized after its opposition to Xinjiang labor sparked a backlash against the U.S. chipmaker in China, highlighting how multinational companies are increasingly getting caught up in a geopolitical spat between two global powers over issues such as human rights. Most Read from BloombergLarry Summers Predicts the Future, and It Doesn’t Look GoodSingapore's Travelers Face Omicron ChaosUnited and Delta Cancel Hundreds of Christmas FlightsHundreds of Flights Canceled; U.
BEIJING (Reuters) -China's securities watchdog on Friday proposed tightening rules governing Chinese companies listing abroad, which it said would improve oversight while allowing them to continue to do so, the latest in a spate of regulatory moves by Beijing in 2021. The draft rules, which had been keenly awaited by investors and were posted by the China Securities Regulatory Commission on its website, extend the CSRC's oversight of offshore listings to Chinese firms with variable interest entity (VIE) structures.
Yahoo Finance's Dan Howley explains what exactly web3 is, how companies and brands are planning to use that online space, and the criticisms tech leaders such as Jack Dorsey are lobbing at venture capitalist firms investing into the platform.
The use of cryptocurrency in Germany is increasing rapidly with Bitcoin and Ethereum being widely used in e-commerce to purchase goods. Cryptocurrencies in Germany are regularly transferred and traded and companies have invested their capital in the new digital currency.
A TikToker has sparked debate on the platform after sharing an Applebee's receipt exposing a customer's substandard tip. The post Applebee’s server sparks debate with photo of customer’s low tip: ‘The nerve of some of y’all’ appeared first on In The Know.
(Bloomberg) -- TikTok’s 10,000 content moderators are exposed to a regular diet of child pornography, rapes, beheadings and animal mutilation, according to a lawsuit filed against the video-sharing platform and its parent, ByteDance Inc.Most Read from BloombergLarry Summers Predicts the Future, and It Doesn’t Look GoodSingapore's Travelers Face Omicron ChaosUnited and Delta Cancel Hundreds of Christmas FlightsHundreds of Flights Canceled; U.K. Cases at Record: Virus UpdateSingapore Is No Place t
It is never too late to start saving money you will use in retirement. However, the older you get, the more constraints may limit your options.
Morgan Stanley has told staff who need to be in the office in the first two weeks of January to limit large in-person meetings, according to Bloomberg News. "Masking is always encouraged for anyone who is at increased risk or who has a household member who is unvaccinated or at increased." A Morgan Stanley spokesman declined to comment on the report.
The leading warehouse club, Costco has 815 stores worldwide (at the end of fiscal 2021), with most sales derived in the United States (72%) and Canada (14%). It sells memberships that allow customers to shop in its warehouses, which feature low prices on a limited product assortment. Costco mainly caters to individual shoppers, but roughly 20% of paid members carry business memberships. Food and sundries accounted for 40% of fiscal 2021 sales, with non-food merchandise 29%, warehouse ancillary and other businesses (such as fuel and pharmacy) nearly 17%, and fresh food 14%. Costco’s warehouses average around 146,000 square feet; over 75% of its locations offer fuel. About 7% of Costco’s global sales come from e-commerce (excluding same-day grocery and various other services).
Chipmaker Intel Corp. is planning its European Union expansions in France, Italy and Germany, according to a pair of reports out Thursday by Bloomberg and Reuters. The company has been announcing expansion plans all year as its new CEO Pat Gelsinger invests heavily to turn the company around and regain the technological lead that it lost to rivals in recent years. According to Bloomberg, the company is planning a research and design center in France, a test and assembly site in Italy and a wafer fabrication plant, or fab, in Germany.
In 2022, some important things about Social Security are changing. Here's what you need to know about what's happening with Social Security next year. Here are three big Social Security changes that will occur in 2022.
The draft rules follow a nearly six-month pause in Chinese listings in the U.S. since the ill-fated New York IPO of ride-hailing giant Didi Global.
If you're thinking about early retirement, you need to budget, save, invest, and plan ahead. Find out how to retire early so you can enjoy a longer retirement.
The crude oil markets initially fell during the week, but have since recovered completely to show signs of resiliency again
Lots of data made huge swings in 2021 as large swaths of the economy reopened, quickly sending the stock market and GDP to new record highs. With that in mind, here are the charts to watch in 2022
(Bloomberg) -- Vale SA, the world’s second-largest iron ore producer, is considering acquiring a stake in Anglo American Plc’s huge Minas-Rio project in Brazil, according to people familiar to the matter.Most Read from BloombergLarry Summers Predicts the Future, and It Doesn’t Look GoodSingapore's Travelers Face Omicron ChaosUnited and Delta Cancel Hundreds of Christmas FlightsHundreds of Flights Canceled; U.K. Cases at Record: Virus UpdateSingapore Is No Place to Spend QuarantinePreliminary tal