Global Electric Vehicle
Battery Market contains in depth
information major drivers, restraints, opportunities, challenges, and industry
trends and their impact on the Market forecast. Global Electric Vehicle
Battery Market also provides data about
the company and its operations that will give information on the business
structure, areas of operation, products, and services offered by the company.
According to a new
market report published by BlueWeave Consulting, the Global Electric Vehicle Battery market was valued at US$ 20.23 Bn in 2017
and is expected to expand at a CAGR of 19.04% from 2018 to 2025, reaching US$
92.65 Bn by the end of the forecast period. According to the report, Asia
Pacific was the largest contributor in terms of revenue to the global electric
vehicle battery market in 2017.
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Electric vehicles provide great potential to radically
reduce local air pollution, greenhouse gas emissions, resulting climate change
impacts, and oil use from the transport sector. With the steady decrease in the
price of electric vehicles, the transition seems to become more feasible. This
potential is facilitated and made compelling by the ubiquity of electricity and
the emerging availability of low-carbon, renewable energy sources. Electric
Vehicles need rechargeable batteries to run for sustainable time. Electric
Vehicle batteries are generally different from SLI (starting, lighting, and
ignition) batteries since they are designed to provide power over sustainable
period of time. Diseases caused by
air and water pollution are epidemic among minorities. Environmental pollution
cause more than three times death than malaria, tuberculosis, and AIDs,
countries such as Indian and China records the maximum death caused by
environmental pollution.
Pollution causes 7% of the medical expenses among middle income
group people across the world, in addition, according to World Bank air
pollution cost in India was approximately 8% of its GDP or USD 560 billion in
2013. Increasing number of deaths in India and China are encouraging government
and non-government organization to spread awareness regarding environment
pollution and its heath impacts. Due to which several governments’ regulations,
particularly pollution prone countries have initiated supportive policies and
programs to produce and adopt electric vehicles, which is surging the demand
for global electric vehicles battery market over the forecast span.
The Global Electric Vehicle Battery market is segmented on the basis of
battery type, vehicle technology, and vehicle type. On the basis of battery
type, the market is segmented into Lithium-ion Battery, Lead Acid Battery,
Nickel Metal Hybrid Battery, and Others. Lithium-ion Battery was the largest
segment in the Global Electric Vehicle Battery market in 2017 and is estimated
to witness the highest growth during 2018-2025. On the vehicle technology
basis, the market is segmented into BEV, PHEV, and HEV. BEV accounted for the
largest segment in the Global Electric Vehicle Battery market in 2017. On the
basis of vehicle type, the market is segmented into Commercial Vehicle,
Passenger Car and Two Wheeler. On the basis of
region, the market is segmented into five parts namely North America, Asia
Pacific, Europe, Latin America, Middle East & Africa. Asia Pacific was the
largest region in the global electric vehicle battery market in 2017 with a
market share of 70.4% and it is estimated to grow over a CAGR of over 19.26%
during 2018-2025.
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Companies, such as Panasonic Corporation, Mitsubishi Electric
Corporation, Samsung Electronics Co. Ltd., Johnson Controls International Plc,
Toshiba Corporation, Automotive Energy Supply Corporation, LG CHEM Ltd., and
BYD Company ltd, Ltd. are the key players in manufacturing electric vehicle
battery globally. In terms of product offerings, Panasonic Corporation and BYD
Company Ltd are the major players in the market, providing electric vehicle battery.
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Ltd. (BWC)
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