Global Electric Vehicle Battery Market is expected to fuelling US$ XX Bn by 2026 in terms of revenue with CAGR of 18% in the forecasting period 2019-2026.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.Global Electric Vehicle Battery Market
Batteries have been used as secondary power sources ever since the introduction of the first automobile. An electric vehicle battery is a rechargeable battery. It uses chemical energy stored in rechargeable battery packs for power and therefore does not require any combustion engine for propulsion. Developing concerns identified with diminishing oil and gas assets and debasing natural conditions are having a positive effect on the demand for electric controlled vehicles. An electric fuelled vehicle or battery electric vehicle utilizes concoction energy put away in rechargeable battery packs for control.
A major factor behind the growth of electric vehicles is the support provided by the various governmental agencies to encourage the sale of these vehicles. Increase in demand for high energy density market, increase in preference of people towards cleaner air, increase in government’s private equity investments in the electric vehicle industry, the rise in the demand for zero-emission vehicles, decrease in the cost of the electric vehicle battery system, and surge in demand for lithium-ion batteries.
All these factors have supported the electric vehicle battery to experience an exceptional market boost. These restraints include stringent lead pollution norms that are affecting the manufacturers, high import taxes, volatile prices of raw material, political disturbance.
Electric vehicle battery market can be segmented into propulsion type, battery type, vehicle type, voltage type, and region. On the basis of propulsion type, the battery market for Battery Electric Vehicle held the highest share and accounted for 72% share in 2017, and is also expected to grow at a faster rate as compared to Plug-in Hybrid Electric Vehicle. In terms of battery type, Lead-acid batteries are the most common and cheapest type of batteries.
Nickel metal hydride batteries have higher energy densities than the common lead-acid batteries and if used properly can have exceptionally long lives. Lithium-ion batteries use graphite anode and lithium cobalt oxide anode. Based on vehicle type, the passenger vehicles segment is highly lucrative and is likely to lead the global market in the future. On the basis of voltage type, electric vehicle market can be classified into 12 Volt, 14 Volt, 24 Volt, and 48+ Volt. The 48+Volt segment is anticipated to increase in the forecasting year due to rise in electric vehicles strict government norms towards the vehicle pollution will anticipate to boost the demand for 48+ Volt segment in the near future.
In terms of region, the electric vehicle battery market is classified into Asia-Specific will be the major revenue contributor to the electric vehicle battery market throughout the forecast period. The government incentives on the usage of battery-powered vehicles are one of the main reasons behind the growth of North American and European electric vehicle battery market.
Some of the key prominent market players in the electric vehicle battery market are Tesla Inc., BYD Company Limited, Volkswagen AG, and General Motors. Some of the electric vehicle battery manufacturers include Samsung SDI, Automotive Energy Supply Corporation, LG Chem., Panasonic Corporation, and GS Yuasa International.
The objective of the report is to present comprehensive analysis of Global Electric Vehicle Battery market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Global Electric Vehicle Battery market dynamics, structure by analyzing the market segments, and project the Global Electric Vehicle Battery market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Electric Vehicle Battery market make the report investor’s guide.
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The Scope of the Global Electric Vehicle Battery Market:
Global Electric Vehicle Battery Market, by Propulsion Type
• Battery Electric Vehicle
• Hybrid Electric Vehicle
• Plug-in Hybrid Electric Vehicle
Global Electric Vehicle Battery Market, by Battery Type
• Lead Acid Battery
• Nickel Metal Hydride Battery
• Lithium ion Battery
Global Electric Vehicle Battery Market, by Vehicle Type
• Passenger Vehicle
• Commercial Vehicle
Global Electric Vehicle Battery Market, by Voltage Type
• 12 Volt
• 14 Volt
• 24 Volt
• 48+ Volt
Global Electric Vehicle Battery Market, by Geography
• North America
• Middle East & Africa
• Latin America
Key Players of the Global Electric Vehicle Battery Market:
• Tesla Inc.
• BYD Company Limited
• Volkswagen AG
• General Motors
• Samsung SDI
• Automotive Energy Supply Corporation
• LG Chem.
• Panasonic Corporation
• GS Yuasa International
• Beijing Pride Power
• SB LiMotive
• Energy Supply Corporation
• Johnson Controls International
• Narada Power Source
• Crown Battery Corporation
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