How Wil You Change Your Business Strategies For Electric Vehicle Battery Market?
Electric Vehicle Battery Market Size, Share & Trends Analysis Report By Battery Type (Lithium-ion, Lead-acid, Nickel-metal Hydride, Sodium-ion), By Vehicle Type, By Propulsion, By Region, And Segments Forecasts, 2019 - 2025.
According to a report, “Electric Vehicle Battery Market Size, Share & Trends Analysis Report By Battery Type (Lithium-ion, Lead-acid, Nickel-metal Hydride, Sodium-ion), By Vehicle Type, By Propulsion, By Region, And Segments Forecasts, 2019 – 2025”, published by Grand View Research, Inc. The global electric vehicle battery market size is expected to reach USD 38.6 billion by 2025, registering a CAGR of 16.7%, as per a new report by Grand View Research Inc. Increasing efforts to decrease the electric vehicle batteries production cost is prompting manufacturers to largely invest in developing countries, including India, China, and Mexico. Considering the potential for economic prosperity in developing economies, some key players large have already been planned expansion strategies in Asia Pacific.
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EVs require more battery power due to its advanced GPS navigation system, air-conditioning systems, power windows, and dashboard displays, which are battery powered. Advances in battery technology have resulted in the advent of batteries that can cater the drivetrain. Such favorable advances in battery technology are expected to drive the market growth.
In several metropolitan cities across the globe, city administrations are enlisting policies to enhance the deployment system of electric vehicle supply equipment (EVSE) and build adequate number of charging stations. For instance, in the Netherlands, the metropolitan area of Amsterdam has adopted a demand-based approach for deploying its EVSE network and making it accessible to owners of EVs.
Electric Vehicle Battery Market Highlights
1. Several countries are leading in deploying various EVs, including buses, two wheelers, and other commercial vehicles. The surging automotive production, mainly in Japan, China, Indonesia, Mexico, South Korea, Germany, Malaysia, and Taiwan is driving the market growth
2. The lithium-ion segment led the market in 2018 and are used in applications that require higher energy density and lighter weights
3. The battery electric vehicle (BEV) segment accounted for the largest revenue share in 2018 and is projected to continue this trend over the analysis timeline. The plug-in hybrid electric vehicle (PHEV) segment is estimated to register the highest CAGR in the forthcoming years
4. Advances in battery technology along with the rising preference for zero-emission EVs and hybrid vehicles are expected to drive the electric vehicle battery demand during the forecast period
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Electric Vehicle Battery Market Segmentation
Grand View Research has segmented the electric vehicle battery market on the basis of battery type, vehicle type, propulsion, and region:
Electric Vehicle Battery Type Outlook (Revenue, USD Million, 2014 - 2025)
• Lithium-Ion
• Lead-Acid
• Nickel-Metal Hydride
• Sodium-Ion
• Others
Electric Vehicle Battery Vehicle Type Outlook (Revenue, USD Million, 2014 - 2025)
• Passenger Vehicles
• Commercial Vehicles
Electric Vehicle Battery Propulsion Outlook (Revenue, USD Million, 2014 - 2025)
• Battery Electric Vehicle (BEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
Electric Vehicle Battery Region Outlook (Revenue, USD Million, 2014 - 2025)
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o U.K.
• Asia Pacific
o China
o India
o Japan
o South Korea
• South America
o Brazil
• MEA
List of Key Players in Electric Vehicle Battery Market
1. ATLASBX Co.
2. Sony
3. Hitachi
4. NEC Corporation
5. Panasonic Corporation
6. TCL Corporation
7. Huanyu New Energy Technology
8. Duracell
9. NorthStar
10. Crown Battery Manufacturing
11. GS Yuasa Corp
12. East Penn Manufacturing Co.
13. C&D Technologies, Inc.
14. B.B. Battery Co., Ltd.
15. Narada Power Source Co., Ltd.
16. CSB Battery Company Ltd.
17. EnerSys, Inc.
18. Coslight Technology International Group Co., Ltd.
19. Zibo Torch Energy Co., Ltd.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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