Global Electric Vehicle Battery Market - 2025 |By Size, Share, Product Outlook, Cost Analysis and Forecast by 2025 : Panasonic Corporation, Mitsubishi Electric Corporation, Samsung Electronics Co. Ltd. ETC…
Increasing demand for environment friendly vehicles is driving the Electric Vehicle Market which will consecutively propel the EV Battery Market.
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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.
Scope of the Report
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.
The Global Electric Vehicle Battery market is dominated by a number of players, amongst them the major players are 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. Companies in this industry are following different strategies to strengthen their market position. For instance, In October 2018 LG Chem signed an agreement with Volkswagen Group to supply them with Electric Vehicle batteries. It will supply lithium-ion batteries to the company.
Market Segmentation: Global Electric Vehicle Battery Market
By Battery Type
• Lithium-ion Battery
• Lead Acid Battery
• Nickel Metal Hybrid Battery
By Vehicle Technology
By Vehicle Type
• Commercial Vehicle
• Passenger Car
• Two Wheeler
In addition, the report provides analysis of the Global Electric Vehicle Battery market with respect to the following geographic segments:
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
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