A recent report published by Infinium Global Research on
electric vehicle battery market provides an in-depth analysis of segments and
sub-segments in the global as well as regional electric vehicle battery market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional electric vehicle battery market over the
short term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global electric vehicle battery market.
According to the report, the global electric vehicle battery market is
projected to grow at a CAGR of 17.8% over the forecast period of 2019-2025.
An electric vehicle battery is used to power the propulsion
of electric vehicles. They differ from starting, ignition and lighting because
as designed to give power over a sustained period of time. The electric vehicle
battery is characterized by their energy density, specific density high power
to weight ratio, smaller lighter batteries decrease the weight of the vehicle
and enhance its performance.
A tremendous increase in the production of the number of
fleets in several countries across the globe fuels the growth of the global
electric vehicle battery market. Increasing demand and adoption of electric
vehicles to reduce the pollution and create environment free amplify the growth
of the global electric vehicle battery market. An increasing number of charging
station in various countries support the battery life of the electric vehicle
that propels the growth of the global electric vehicle battery market. On the
other hand, the electric vehicle battery is very costly and the material used
for the production also fluctuate in price that is the restraining factor for
the growth of the global electric vehicle battery market. Furthermore,
stringent government regulation to reduce pollution and promoting the
environment-friendly vehicle that may create an opportunity in the coming years
for the global electric vehicle battery market.
Geographically, Asia-Pacific region dominates by the largest
market share in the electric vehicle battery market due to the increasing
number of production of the vehicle and presence of the major manufacturer such
as Panasonic Corporation, SAMSUNG SDI CO., LTD., Hitachi Chemical Co., Ltd and
other companies. China is accounted for the largest market share followed by
Japan and India. Moreover, the North America region expected to boost the
growth of the electric vehicle battery market in the forecast period due to
rising adoption of the electric vehicle. In North America, the U.S holds the
highest market share followed by Canada and Mexico.
The report on global electric vehicle battery market covers
segments such as battery type, and vehicle type. On the basis of battery type,
the sub-markets include lithium-ion, lead-acid, and nickel-based. On the basis
of vehicle type, the sub-markets include battery electric vehicles, hybrid
vehicles, and plug-in hybrid electric vehicles.
The report provides profiles of the companies in the market
such as SAMSUNG SDI CO., LTD., Mitsubishi Electric Corporation, Panasonic
Corporation, BYD Company Limited, Quallion LLC (EnerSys), LG Chem Ltd., Johnson
Controls International plc, Wanxiang Group Corporation, Tianneng Power
International Co., Ltd., Hitachi Chemical Co., Ltd, and Other companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of electric
vehicle battery market. Moreover, the study highlights current market trends
and provides forecast from 2019-2025. We also have highlighted future trends in
the market that will affect the demand during the forecast period. Moreover,
the competitive analysis given in each regional market brings an insight into
the market share of the leading players.