EV Battery Pack Market Size, Trends, and Growth Analysis 2032

The EV Battery Pack Market has emerged as a cornerstone of the global energy transition, valued at USD 113,456.12 million in 2023 and poised to grow at a CAGR of 12.4% from 2024 to 2032. As the world shifts away from internal combustion engines (ICE) toward cleaner alternatives, electric vehicles (EVs) are becoming mainstream, and so is the demand for efficient, safe, and long-lasting battery packs.
EV battery packs are the heart of electric vehicles, supplying the energy required to power the drivetrain and auxiliary systems. Composed of thousands of interconnected cells organized into modules, these packs are designed to deliver high performance, safety, thermal management, and energy density. Their development is closely tied to advancements in lithium-ion chemistry, battery management systems (BMS), and manufacturing scalability.