"High Voltage Battery Market By Capacity (75-150, 151-225, 226-300, >300kWh), Type (NCA, NMC, LFP, Others), Range (100-250, 251-400, 401-550, >550 Miles), Voltage (400-600, >600V), Vehicle Type (Truck, Bus, Passenger Car) and Region-Global Forecast to 2025", published by MarketsandMarkets™, The global high voltage battery market, by value, is projected to grow to USD 89.1 billion by 2025 from USD 8.9 billion in 2018, at a CAGR of 38.95% during the forecast period.
The increase in government spending toward smart cities will drive the high voltage battery market for electric buses and trucks. Additionally, the demand for high voltage systems for electric vehicles is further expected to drive the demand for high voltage batteries. These systems offer several benefits over conventional ICE vehicles such as energy efficiency, reduced emissions, quiet and smooth operation, and stronger acceleration. Hence, a higher voltage required to propel various systems of a vehicle also drives the high voltage battery market.
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Recent Developments:
• In May 2018, Proterra introduced new high-power charging options to achieve 100% electric bus fleet. At the American Public Transportation Association’s (APTA) Bus & Paratransit Conference, Proterra introduced new systems for reliable, smarter charging that is flexible, scalable, and powerful.

• In November 2017, Tesla unveiled a prototype of Semi-Truck. The tractor can be linked up with any trailer, no brand-specific trailer is necessary. Semi-Truck can travel approximately 600 miles of range having a battery capacity of 800–1,000 kWh. The semi-trailer will go on full-fledged production by 2019.

• In July 2016, Tesla opened its Gigafactory in Nevada, US. It is one of the biggest battery manufacturing plants for EV batteries, in terms of capacity. Tesla built it keeping in mind the future demand for EVs.

• In October 2017, LG Chem, a leading manufacturer of advanced batteries based in Korea, announced the construction of an Electric Vehicle (EV) battery plant in Wroclaw, Poland. LG Chem will invest approximately USD 340 million in the plant by the end of 2018 to produce lithium-ion batteries. The company plans to produce 100,000 EV batteries in Poland annually.
The >300 kWh segment is expected to be the largest contributor in the high voltage battery market, by battery capacity, during the forecast period.

The growth of >300kWh batteries is mainly driven by the dominating electric bus industry in China. All the electric bus models of the market leader, BYD, fall under this category. Additionally, the electrification of public transportation would drive the demand for electric buses and trucks, which, in turn, would drive the high voltage battery market as electric buses and trucks are equipped with more than >300 kWh battery packs. For instance, Tesla Semi’s battery pack will have a capacity of 800–1,000 kWh. According to primary insights, Tesla Semi Truck would be a game changer in the electric truck industry, as a significant number of logistics and transport companies have pre-ordered Tesla Semi Truck.

The high voltage battery market for bus is estimated to be the largest market during the forecast period.

As the energy requirement of electric buses is very high, currently 90% of the electric buses fall under the high voltage category. According to primary insights, this number is expected to be 100% by 2025. With aggressive incentives and mandates from the Chinese government, the country has already proved themselves as a leader in clean technologies. The electric buses are expected to dominate the high voltage market, by vehicle type, due to the rising adoption of electric buses for public transportation in cities across the globe. Moreover, in the passenger car segment, the current high voltage battery market is driven by the BEV industry leader, Tesla.

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In driving range, the >550 miles segment is projected to grow at fastest rate during forecast period.

Currently, majority of the electric buses and passenger cars fall under 251–400 miles and 401–550 miles drving range. However, with advacement in battery chemistry and growing fast charging network, elctric buses are expected to shift gradually toward >550 miles range. A similar trend is expected for electric trucks, as the market for electric trucks is under development phase. However, successful electric transportation also drives the demand for > 550 miles battery electric vehicles. For instance, in November 2017, Tesla unveiled a prototype of Semi-Truck, which will go for full-fledged production by 2019. The semi-trucks can travel approximately 600 miles of range.y

Some of the key players in the high voltage battery market are Panasonic (Japan), BYD (China), CATL (China), LG Chem (South Korea), and Tesla (US). Panasonic (Japan) is identified as the leading player in the high voltage battery market.