Electric Vehicles Battery Market Size is projected to reach USD 131.13 billion & growing at a CAGR of 16.83% by 2028

 

Market Analysis and Insights : Global Electric Vehicles Battery Market

Electric vehicles battery market will reach at an estimated value of USD 131.13 billion and grow at a CAGR of 16.83% in the forecast period of 2021 to 2028. Growing demand for low emission and electric vehicles globally is an essential factor driving the electric vehicles battery market.

Electric vehicles battery is defined as the power source in electric vehicles and is used for the mobility and propulsion of vehicles. They are in comparison the entire working motor of the electric vehicles whereas in internal combustion engine vehicles, batteries are just used for ignition and initiation of the vehicles. In electric vehicles they power the vehicle over a sustained period of time rather than just the starting.

Growing demand for zero emission vehicles is a crucial factor accelerating the market growth, also decreasing cost of EV battery system, rising concerns regarding the harmful effects of climate change with the emission of fuel vehicle, rising alarming pollution level recorded in major countries, increase in petrol and diesel prices due to the depletion of fossil fuel reserves has increased the demand for advanced fuel-efficient technologies, which in turn increases the product demand and rising ongoing development of lithium-ion batteries has enabled battery manufacturers to produce a high-performance battery that satisfies the need for lightweight vehicle are the major factors among others boosting the electric vehicles battery market.

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Electric Vehicles Battery Market Scope and Market Size

Electric vehicles battery market is segmented on the basis of propulsion type, battery type, vehicle type and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

  • On the basis of propulsion type, electric vehicles battery market is segmented into battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle.
  • Based on battery type, the electric vehicles battery market is segmented into lead acid battery, nickel metal hydride battery and lithium-ion battery.
  • Based on vehicle type, the electric vehicles battery market is segmented into passenger car, commercial vehicle and two wheeler.
  • The electric vehicles battery market is also segmented on the basis of end-user into OEMs and aftermarket.

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Competitive Landscape and Electric Vehicles Battery Market Share Analysis

Electric vehicles battery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to electric vehicles battery market.

The major players covered in electric vehicles battery market report are A123 Systems LLC, Panasonic Corporation, MITSUBISHI MOTORS CORPORATION, Beijing Pride New Energy Battery Technology Co., Ltd., Automotive Energy Supply Corporation, BYD Company Ltd., LG Chem, Daimler AG, Robert Bosch GmbH, SAMSUNG SDI CO.,LTD., Wanxiang America Corporation, Tianneng Power International Ltd,, Johnson Controls, GS Yuasa International Ltd. and Hitachi, Ltd among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.


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