The voltage, battery capacity, battery type, driving range, and vehicle type are used to segment the high voltage battery market. Commercial electric vehicles, which include passenger cars, employ batteries with a voltage rating between 400 and 600 volts, whereas heavy-duty vehicles use batteries with a voltage rating over 600 volts, which are ideally suited for sports cars. The market is divided into three categories based on battery capacity: 75-150kWh, 151-300kWh, and above 300kWh. Due to its high energy density, lithium-ion batteries are the most prevalent type of battery found in the majority of electric vehicles. The automotive industry has linked the high voltage battery market’s expansion to the widespread use of e-mobility, while the expansion of communications and data centres due to technological advancements has boosted the market for high voltage batteries.
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