Electric Vehicle Battery Market Overview
The electric
vehicle battery market has
witnessed noteworthy growth, which is expected to continue until the forecast
period of 2030. It’s the significant technological advancement in electric
vehicle domain that is expected to make this market so much significant.
Growing concerns about the environment are also touted as one of the prime
reasons behind the greater adoption of electric vehicle batteries. The sales of
electric vehicles have consistently witnessed growth.
Market research claims that the growth rate of
electric vehicle batteries will remain intact during the forecast period. There
are many driving factors enriching the market across the globe. Massive demand
for electric vehicles, growing prices of fuel, and expanding auto manufacturing
can be touted as equally prominent reasons as well. There is significant
support from the governments as well. The governments of both the developing
and developed nations have been quite encouraging on this matter, thus playing a
massive role in enriching the market.
With advancing technologies, the prospects of
electric vehicles are expected to be more encouraging in forthcoming years. To
be specific, these technologies are expected to work phenomenally in terms of
enhancing the ability of the batteries. With greater capacity, the market
certainly can grow. According to reports, the global electric vehicle battery
market is projected to grow at the CAGR of 33.68% during the forecast period of
2030. This growth rate can be even more significant during the forthcoming
years with growing demand.
Electric Vehicle Battery Market Regional
analysis
Regionally, the global electric vehicles battery
market can be classified into North America, Europe, Asia Pacific, and Rest of
the World. Among these, Asia Pacific has accounted for the largest market
share. Asia Pacific market is mainly led by China, South Korea, Japan, and
India. North American market comes next in this line-up, mainly led by nations
like the United States and Canada. European market looks equally significant as
well being led mainly by nations like the UK and Germany. Overall, the global
electric vehicle battery market is expected to remain steady all around the
globe during the forecast period of 2030.
Electric Vehicle Battery Market Key
Players:
·
Automotive
Energy Supply Corporation (Japan)
·
Panasonic
Corporation (Japan)
·
BYD Company
Limited (China)
·
LG Chem Ltd
(South Korea)
·
Quallion (US)
·
Boston-Power
(US)
·
Johnson Controls
International (US)
·
Narada Power
Source (China)
·
GS Yuasa
Corporation (Japan)
·
Tianneng Power
International (China)
·
Crown Battery
Corporation (US)
·
and Hitachi
Chemical Company (Japan)
Electric Vehicle Battery Market Segmentation:
By Battery Type
·
Lithium Ion
Battery
·
Nickel Hybrid
Battery
·
Lead Acid
Battery
By Vehicle Technology
·
Plug In Hybrid
Vehicle Electric Vehicles
·
Battery Electric
Vehicles
·
Hybrid Electric
Vehicles
By End Market
·
Aftermarkets
·
Oe Ms
Electric Vehicle Battery Industry
News
According to reports, the global electric vehicle battery market is going to remain steady all throughout the
forecast period of up to 2025. Asia Pacific, North America, and Europe show
best prospects in terms of growth of this market due to significant demand all
across.
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