Market Research Report
Electric Vehicle Battery - Global Market Outlook (2019-2027)
|Published by||Stratistics Market Research Consulting||Product code||969533|
|Published||Content info||150+ Pages
Delivery time: 2-3 business days
|Electric Vehicle Battery - Global Market Outlook (2019-2027)|
|Published: October 1, 2020||Content info: 150+ Pages||
According to Stratistics MRC, the Global Electric Vehicle Battery Market is accounted for $35.16 billion in 2019 and is expected to reach $151.69 billion by 2027 growing at a CAGR of 20.1% during the forecast period. Increase in the global awareness regarding climate change, decrease in the cost of the electric vehicle battery system and rise in the demand for zero-emission vehicles are the major factors driving the market growth. However, stringent lead pollution norms in electric vehicle battery, high import taxes on EV batteries and instability in raw material prices are restraining the market growth. Moreover, evolution of lithium-ion technology in EV battery and growth in public charging infrastructure would provide ample opportunities for the market growth.
A battery is used as a secondary power source in automobiles. An electric vehicle battery is a secondary (rechargeable) battery. It uses chemical energy stored in rechargeable battery packs for power and therefore does not require any combustion engine for propulsion. An electric vehicle battery or traction battery powers the propulsion of battery electric vehicles.
Based on type, the lithium-ion battery segment is likely to have a huge demand due to its high energy density, fast recharging capability, and high discharge power, owing to which, the lithium-ion batteries are the only available technology that are capable of meeting OEM requirements for vehicle driving range and charging time. By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to increasing deployment of electric vehicles in countries, such as China and India, and the high demand for vehicles with urbanization and increasing power purchase parity.
Some of the key players profiled in the Electric Vehicle Battery Market include Automotive Energy Supply Corporation, Boston-Power, BYD Company Limited, Contemporary Amperex Technology Co Ltd, Crown Battery Corporation, East Penn Manufacturing Company, GS Yuasa Corporation, Hitachi Chemical Company, Johnson Controls International, LG Chem Ltd, Narada Power Source, Panasonic Corporation, Quallion, Samsung SDI Co Ltd and Tianneng Power International.
Power Sources Covered:
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End Users Covered:
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Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.