Market Research Report
China Electric Vehicle Battery Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||947869|
Delivery time: 2-3 business days
|China Electric Vehicle Battery Market 2019-2025|
|Published: April 3, 2020||Content info:||
China Electric Vehicle Battery Market Size, Share & Trends Analysis Report by Battery Type (NiMH, Li-ion, Other), By Vehicle Type (Commercial Vehicle, Passenger Cars, Two-Wheeler) by Propulsion Technology (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle) and Forecast 2019-2025
China's electric vehicle battery market is estimated to grow at a CAGR of over 9.0% during the forecast period. The cohesive government programs and initiatives to fuel the sale and manufacturing of electric vehicle in China is a major factor that is generating the demand for electric vehicle battery market in the country. China is one of the members of the EV30@30 campaign that aims to accelerate the deployment of electric vehicle in the country. In 2018, China set a target in which the country planned that electric cars and plug-in hybrids vehicles to account for at least 20% of its total vehicle sales by 2025.
The market is segmented on the basis of battery type vehicle type, and propulsion technology. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on battery type Li-ion is anticipated to hold a considerable market share during the forecast period. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheeler. Based on propulsion technology the market is sub-segmented into battery electric vehicle, plug-in hybrid electric vehicle.
Shenzhen BAK Technology Co. Ltd, BYD Co. Ltd., Contemporary Amperex Technology Co., Ltd., and Hitachi, Ltd. are the key market players operating in the China electric vehicle battery market. These players are actively involved in the expansion of their market share by adopting several growth strategies such as the launch of new battery manufacturing plants or entering into a partnership with the major electric vehicle manufacturer operating in the country. For instance, the Dutch battery manufacturing company Lithium Werks BV made an investment of around $1.9 billion to build a lithium-ion battery factory in China to meet the growing demand for electric vehicle batteries in China. The factory will be built with a production capacity of 8 gigawatt-hours per year to power 160,000 electric vehicles.
The market study of the China electric vehicle battery market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.
The Report Covers: