Global Electric Vehicle Battery Market Size Worth USD 98.97 Billion, Globally, by 2029 at a CAGR of 10.5%

  The global electric vehicle (EV) battery market size was valued at USD 37.91 billion in 2021. The market is projected to grow from USD 49.22 billion in 2022 to USD 98.97 billion by 2029, exhibiting a CAGR of 10.5% during the forecast period. The demand for electric car batteries is rising along with the demand for Electric Vehicles (EVs) around the world. Some of the key factors influencing the adoption of electric vehicles globally include government emphasis on rapid electrification to reduce reliance on imports of fossil fuels and to combat climate change. The adoption of electric vehicles is also being influenced by environmental concerns among the general public globally, which is expected to boost the global electric vehicle battery market growth over the forecast period. Fortune Business Insights presents this information in their report titled "Global EV Battery Market, 2022–2029."