Electric Vehicles Battery Market 2018 Key Country Forecast: Global Top Company Analysis Automotive Energy Supply, Panasonic, BYD, LG, Quallion, Boston-Power, Johnson, Narada Power Source, GS Yuasa, Tianneng Power, Crown Battery, and Hitachi

Electric Vehicles Battery Market Research Report - Forecast to 2023, Global Electric Vehicles Battery Industry Trends, Size, Share, Sales and Regional Analysis Report, include historic data, with forecast data to 2023. Electric Vehicles Battery Market research report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, and key player’s outlook.

Global Electric Vehicles Battery Market is growing at high growth rate during forecast period of four years from 2018. Electric Vehicles Battery Market is segmented by Battery Type (Lithium Ion Battery, Lead Acid Battery, Nickel Hydride Battery and others), By Vehicle Technology (Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles and Others), by End Market (OEMs and Aftermarket) and By Region in this report.

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Competitive Landscape

The global Electric Vehicles Battery Market is highly competitive. The market players are leveraging various strategies such as acquisitions, partnerships, and investments to stay ahead of the competition in the global Electric Vehicles Battery Market. The market participants are trying to come up with advancements in the Electric Vehicles Battery.

Electric Vehicles Battery Market Key Players Analyzed in Report:

Automotive Energy Supply Corporation (Japan), Panasonic Corporation (Japan), BYD Company Limited (China), LG Chem Ltd (South Korea), Quallion (US), Boston-Power (US), Johnson Controls International (US), Narada Power Source (China), GS Yuasa Corporation (Japan), Tianneng Power International (China), Crown Battery Corporation (US), and Hitachi Chemical Company (Japan) .

Market Scenario:

The global electric vehicles battery market is projected to capture a significant CAGR of 8.81% over the forecast period of 2017-2023, reveals a research report by Market Research Future (MRFR). This growth can be primarily attributed to a rise in sales of electric vehicles which raises the need for its battery. Initiatives of the automotive industry to come up with sustainable options and curb the harmful effects on the environment has resulted in the emergence of electric cars which, in turn, necessitates the need for electric vehicles battery. The decline in the price of batteries coupled with the development of charging infrastructure has supported the growth of electric vehicles battery market. The electric vehicles battery market is expanding due to the combined efforts of the governments across the globe and the key players who are investing intensively in the research and development of technology to produce high-performance batteries. Moreover, numerous countries are advocating the use of electric vehicles owing to rising concerns for air pollution which further boosts the market for electric vehicles market. The disruptive technology of battery storage has also aided the growth of the market since it has been able to eliminate the cause of reluctance surrounding electric vehicles, i.e., charging concerns. However, the electric vehicles battery market has a long way to go, and the market growth might be restrained due to some factors. Availability of raw materials such as cobalt and lithium are crucial to the production of batteries and decrease in such materials might restrict the growth of the electric vehicles battery market. Depleting lithium resources pose a threat to the electric vehicles battery market since lithium is one of the main elements of the battery. Complexities arising out of the manufacturing process of batteries is also a possible hindrance to the market growth. The high price of batteries is a major restraining factor. Reduction in the price of batteries and recharge might provide the market the incentive that it needs to surpass the conventional car's market.

The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.

Segmentation:

The global electric vehicles battery market has been segmented based on battery type, vehicle technology, and end-market. By battery type, the market has been segmented into Lithium Ion Battery, Lead Acid Battery, Nickel Hydride Battery and others. The lithium-ion battery segment leads the market followed by nickel hydride battery and lead-acid battery. By vehicle technology, the market has been segmented into Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles, and Others. The battery electric vehicles lead the market followed by hybrid electric vehicles. By end-market, the market has been segmented into OEMs and Aftermarket.

Regional Analysis:

The key markets of the global electric vehicles battery market include North America, Europe, Asia-Pacific and the Rest of the World. Asia-Pacific leads the market for electric vehicles battery owing to increased demand for electric cars and growing awareness regarding the availability of electric cars. Europe and North America follow Asia-Pacific closely. There has been a surge in demand for electric vehicles battery in Europe and Germany, UK and France are the principal contributors in the region.

The report for Global Electric Vehicles Battery Market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance.

Industry Updates:

In July 2018, Honda Motor and Panasonic announced a partnership to develop detachable, portable lithium-ion batteries. The companies will be supplying batteries in emerging countries where the charging infrastructure is underdeveloped

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