France EV Battery Pack - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

France's electric vehicle battery pack market may surge as EV adoption targets 1.4 million vehicles by 2025

• The French electric vehicle (EV) battery pack market has grown significantly in recent years. As of 2020, there were approximately 250,000 EVs on French roads, with the number projected to increase to over 1.4 million by 2025. The French government has set a target of phasing out the sale of new gasoline and diesel cars by 2040, which is expected to drive the adoption of EVs in the country. The government is offering various incentives to encourage the purchase of EVs, including subsidies and tax credits.
• The average battery pack capacity for an EV in France was approximately 50 kWh in 2020, with a range of around 240 km. Battery costs have been decreasing steadily, with the cost per kilowatt-hour dropping from USD 1,100 in 2010 to approximately USD 137 in 2020. This trend is projected to continue, with some estimates suggesting that battery costs could fall to as low as USD 58 per kilowatt-hour by 2030. There has been a trend toward higher energy-density batteries, with some manufacturers developing battery packs with a density of over 300 Wh/kg.
• The French electric vehicle battery pack market is expected to continue its rapid growth in the coming years, driven by technological advancements and improvements in manufacturing processes. During the forecast period, the average battery pack capacity for an EV in France is projected to increase to around 75 kWh, with a range of up to 405 km. Battery costs are expected to continue their downward trend, falling to approximately USD 100 per kWh by 2025. The trend toward higher energy-density batteries is also projected to continue, with some manufacturers aiming to develop battery packs with a density of over 400 Wh/kg.

France EV Battery Pack Market Trends

Renault, Toyota Group, Peugeot, Hyundai, and Kia are the leading players in the French electric vehicle market

• The electric vehicle battery pack market in France is competitive, although five companies accounted for over 50% of the market as of 2022. These companies are, namely, Renault, Toyota Group, Peugeot, Hyundai, and Kia. Renault has witnessed the largest electric car sales, boasting a 23.12% share of the French electric vehicle battery pack market. As a domestic company, it enjoys a robust reputation among French consumers and has over 500 dealerships nationwide.
• The Toyota Group has a 15.94% share in the French electric vehicle battery pack market, ranking it second in terms of electric vehicle sales. The company's expansive service network, diverse product lineup, and trusted brand image contribute to its growth. Peugeot, another French brand, occupies the third place in the French electric vehicle battery pack market, with an 8.67% share. Catering to various client needs, the company thrives on a dependable supply and distribution chain.
• Hyundai, capturing 6.28% of the market share, stands as the fourth largest player in the French electric vehicle battery pack market. Its diverse offerings appeal to both mid-range and premium customers. Kia, holding roughly 4.90% of the market share, is the fifth largest player in the French electric vehicle battery pack market. Other notable companies in the French electric vehicle battery pack market include Mercedes-Benz, Dacia, Fiat, BMW, and Volkswagen.

Renault and Toyota sell more than 50% of EVs in France while employing the most battery packs

• Demand for electric vehicles in Europe is escalating, and France is witnessing a consistent uptick in this trend. The demand for electric compact SUVs is on the rise as consumer preference shifts toward sportier, adventurous driving experiences, accompanied by benefits comparable in price to sedans.
• In this burgeoning market, Renault Arkana sales have seen significant growth. The model appeals to those desiring an electric compact SUV that combines efficient mileage with affordability. The positive response to compact SUVs is evident in the French electric vehicle battery pack market. Consequently, the Renault Captur also emerged as a best-seller in 2022. Its offerings of a full hybrid and a slightly pricier plug-in hybrid, along with superior fuel efficiency, comfortable seating, and competitive pricing, have fueled its sales success.
• Several international brands are diversifying their portfolios in the French EV market with a range of electric SUVs and sedans. The Toyota Yaris hybrid has been a popular choice, registering impressive sales in 2022. Factors such as an extensive service network, competitive pricing, and a trusted brand image have driven the growth of Toyota models, exemplified by the 23,576 units of Toyota Yaris Cross sold in 2022. Competing alongside are models like Renault Clio, Peugeot 208, Tesla Model 3, Dacia Spring Electric, and Renault Megane, improving the EV landscape in France.

France EV Battery Pack Industry Overview

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