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.
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