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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

NMC Battery Pack Market Set to Hit USD 60.62 Billion by 2029 on Strong EV & Storage Demand; Key Trends Highlighted-Mordor intelligence

Mordor Intelligence has published the latest report on the NMC Battery Pack Market, offering a comprehensive analysis of trends, growth drivers, and future projections.

-- Introduction

The NMC battery pack market is forecast to grow from an estimated USD 37.84 billion in 2025 to reach USD 60.62 billion by 2029, expanding at a compound annual growth rate (CAGR) of approximately 12.50 % over the forecast period.  This growth underscores the surging demand for electric vehicles (EVs), energy storage systems, and stricter emissions regulations that favor advanced battery chemistries. As the dimensions of the nmc battery pack market size expand, stakeholders across the value chain from raw-material suppliers to module assemblers and OEMs are paying attention to how the market is shifting in terms of technology, regional strength, and competitive positioning. 

Get More information: https://www.mordorintelligence.com/industry-reports/nmc-battery-pack-market?utm_source=marketersmedia

Key Trends in the NMC Battery Pack Market 
 

EV adoption and regulatory pressure: The shift toward battery electric vehicles (BEVs) plays a central role in driving demand for NMC battery packs. Governments worldwide are enforcing stricter emissions norms and offering incentives for EVs, encouraging automakers to migrate more aggressively toward electrification. The increased share of BEVs in total vehicle sales directly feeds into demand for high-energy battery packs. 

Cost reductions and improved energy density: Advances in cell chemistry, manufacturing techniques, and economies of scale are steadily pushing down costs per kilowatt-hour. Meanwhile, improvements in energy density make NMC battery packs more efficient, enabling longer vehicle range or lighter battery systems. These shifts enhance their appeal relative to alternative battery types. 

Preference for wire bonding in pack designs: Among connection methods in battery assembly, wire bonding is gaining traction in certain segments of the market because of its cost effectiveness, flexibility in using different wire materials, and reliability in moderate power applications. It is especially viewed as advantageous in designs where surface imperfections or slight misalignments might occur. 

Regional variation and rising influence of emerging markets: While established markets in Asia-Pacific, Europe, and North America continue to dominate, emerging regions are showing promise. For example, Canada is identified as one of the fastest-growing national markets in North America, driven by policy support and manufacturing investments.  At the same time, the Middle East & Africa is just beginning to see uptake, spurred by urban electrification initiatives and curiosity about EV mobility. 

High market concentration with major players expanding capacity: The nmc battery pack market share is relatively concentrated, with large OEMs and battery firms investing heavily in capacity expansion, technology enhancement, and strategic partnerships. This concentration raises the bar for smaller players, but also intensifies competition in cost structure, supply chain integration, and innovation. 

Market Segmentation in the NMC Battery Pack Market 

Body Type 

  •  Bus  
  • LCV  
  • M&HDT  
  • Passenger Car  

Propulsion Type  

  • BEV  
  • PHEV  

Capacity  

  • 15 kWh to  
  • 40 kWh 40 kWh to 80 kWh  
  • Above 80 kWh  
  • Less than 15 kWh  

Battery Form  

  • Cylindrical 
  •  Pouch 
  •  Prismatic  

Method  

  • Laser  
  • Wire 

 Component 

  •  Anode  
  • Cathode  
  • Electrolyte  
  • Separator 

 Material Type  

  • Cobalt  
  • Lithium  
  • Manganese 
  •  Natural Graphite 
  •  Nickel 
  •  Other Materials 

 By Region / Geography 

  • Asia pacific 
  • North America 
  • South America 
  • Middle east&Africa 
  • Europe 

Key Players in the NMC Battery Pack Market 

  • BYD Company Ltd. 
  • China Aviation Battery Co. Ltd. (CALB) 
  • Contemporary Amperex Technology Co. Ltd. (CATL) 
  • Guoxuan High-tech Co. Ltd. 
  • LG Energy Solution Ltd. 

Related Reports from Mordor Intelligence 

South Europe Battery Market: The South Europe Battery Market is categorized by Type (Primary and Secondary Batteries), Technology (Lithium-ion, Lead-acid, Flow, and Other Batteries), and Application (Automotive, Industrial, Portable, and Others). Geographically, the market covers Italy, Greece, Portugal, Spain, and other South European countries. The report provides market size and revenue forecasts (USD Billion) across all these segments. 

Bangladesh Lead Acid Battery Market: The Bangladesh Lead-acid Battery Market is segmented by Type, including SLI Batteries (Starting, Lighting, and Ignition), Stationary Batteries (Telecom, UPS, and Energy Storage Systems), Portable Batteries (Consumer Electronics), and Other Types, and by Technology, covering Flooded and Valve-Regulated Batteries. 

 
Conclusion 

The nmc battery pack market is positioned for robust growth over the forecast period, fueled largely by the accelerating shift to electric mobility and growing demand for energy storage solutions. As the nmc battery pack market size expands toward USD 60.62 billion by 2029, market participants must stay alert to evolving nmc battery pack market trends such as lowering costs, form factor choices, and regional dynamics. 

Segmentation by propulsion type, connection method, form factor, and geography reveals clear pathways for investment and innovation. Meanwhile, the presence of dominant players underscores that scale, integration, and forward innovation matter. For those seeking to enter or expand in this space, the upcoming years offer both opportunity and risk    the difference will be how well an organization adapts to shifts in technology, regulation, and competitive dynamics. 

About the company: Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals. With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics. For any inquiries or to access the full report, please contact: media@mordorintelligence.com https://www.mordorintelligence.com/

Contact Info:
Name: Jignesh Thakkar
Email: Send Email
Organization: Mordor Intelligence
Address: Hyderabad
Phone: +1 617-765-2493
Website: https://www.mordorintelligence.com/

Release ID: 89171267

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