Press release
Electric vehicle battery market is anticipated to record a CAGR of 18.0% over the forecast period :Top keyplayers are LG Chem, Johnson Controls International PLC, BYD, Samsung SDI Co, Automotive Energy Supply Corporation, GS Yuasa, Hitachi Group, Lithium
Introduction to Electric Vehicle BatteryThe electric vehicle battery is used to power the propulsion of the electric vehicles. It is a rechargeable battery and is used in the electric motorcycles and trucks. The electric batteries are especially designed to reduce the weight of the vehicle and enhance the efficiency of the vehicle. The limited cost of electric vehicle battery coupled with long lifespan increases the demand for the electric vehicle battery. It can be quickly recharged and increases the load capacity of the vehicle.
The electric battery uses the chemical energy stored in the rechargeable battery packs. The electric vehicles are slowly gaining traction as it has relatively high preference in comparison to other transportation system.
Request For Free Sample@ https://www.kennethresearch.com/sample-request-10076361
Market Size and Forecast
Currently the global electric vehicle battery market is observing vibrant growth on account of increasing number of electric cars, thereby driving the demand of electric vehicle battery market. The rise in the adoption of the electric vehicles on the account of the growing environmental concerns coupled with the increasing initiative of the government regarding the adoption of electric vehicles is driving the market growth of the electric vehicle battery. Additionally, less cost associated with the electric vehicle battery is anticipated to boost the growth of the global electric vehicle battery market during the forecast period.
Electric vehicle battery market is anticipated to record a CAGR of 18.0% over the forecast period. The electric vehicle battery market is expected to showcase a vibrant growth by the end of the forecast period. It expected to attain the market size of USD 120 billion by 2027. The market can be segmented on the basis of vehicle propulsion, battery and vehicle. On the basis of vehicle propulsion, it is sub-segmented into battery electric vehicle (BEV) and plug-in hybrid vehicle (PHEV). Battery electric vehicle is anticipated to be the leading sub-segment during the forecast period. The high adoption of the electric vehicle in the various developing region is anticipated to be the major reason for the growth of the sub-segment. On the basis of battery, it is sub-segmented into lead-acid, nickel metal hydride and lithium-ion. Lead acid battery sub-segment is anticipated to be the largest sub-segment during the forecast period. The high energy retention capacity of the lithium ion battery coupled with the low maintenance cost associated with the battery is anticipated to boost the growth of the sub-segment during the forecast period. On the basis of vehicle, it is sub-segmented into passenger vehicle and commercial vehicle. The passeneger cars is expected to be the largest sub-segment during the forecast period. The high production of the passengers cars is anticipated to boost the growth of the sub-segment during the forecast period.
Growth Drivers
Rising Demand of Electric Vehicle
The growing environmental concern regarding the emission of the harmful elements is expected to increase the demand for the electric vehicles. This is expected to boost the growth of the electric vehicle battery market. Additionally, the favorable government norms related to the electric vehicles is also supporting the growth of the electric vehicle battery market.
Low Cost associated with the electric battery systems
The low cost associated with the electric vehicle battery is driving the overall electric vehicle market during the forecast period. The various manufacturers are focusing on introducing the cost effective solutions which can be used in the automobiles. Thus, it is anticipated to be a growth driver for the market during the forecast period.
Buy Now@ https://www.kennethresearch.com/report-purchase-id-10076361
Restraints
Pollution Norms
The stringent pollution norms associated with the emissions is anticipated to restrain the growth of the overall market during the forecast period.
Market Segmentation
Our-in depth analysis of the global electric vehicle battery market includes the following segments:
By Vehicle Propulsion:
Battery Electric Vehicle (BEV)
Plug-In Hybrid Vehicle (PHEV)
By Battery:
Lead-acid
Nickel metal Hydride
Lithium-ion
By Vehicle:
Passenger Vehicle
Commercial Vehicle
By Region
On the basis of regional analysis, global electric vehicle battery market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia-Pacific region is expected to be the leading region for the global electric vehicle battery market. The increasing number of the electric vehicle coupled with the supportive government policies in order to increase the use of eco-friendly vehicles is anticipated to drive the growth of the overall electric vehicle battery market during the forecast period. For instance, the India government has started Fame India Scheme in which 99, 000 electric and hybrid vehicles have been given direct support since April 2015. Europe is anticipated to witness substantial growth during the forecast period. The increase adoption of the electric vehicles by some of the European countries is anticipated to boost the growth of the overall market in the region. For instance, France accounted the highest adoption of the electric vehicles which accounted 92 thousand of the total cars. Additionally, the stringent norms pertaining to environment is anticipated to boost the growth of the market in the region.
Global Electric Vehicle Battery Market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Key Players
Robert Bosch GmbH, Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis, Panasonic, LG Chem, Johnson Controls International PLC, BYD, Samsung SDI Co, Automotive Energy Supply Corporation, GS Yuasa, Hitachi Group, Lithium Energy Japan, Blue Energy Co. Ltd
Read More@ https://www.kennethresearch.com/report-details/electric-vehicle-battery-market/10076361
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
Contact Us
1412 Broadway,
21st Floor Suite MA111,
New York, NY 10018
Name:David
Email:sales@kennethresearch.com
Phone: +1 313 462 0609
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Electric vehicle battery market is anticipated to record a CAGR of 18.0% over the forecast period :Top keyplayers are LG Chem, Johnson Controls International PLC, BYD, Samsung SDI Co, Automotive Energy Supply Corporation, GS Yuasa, Hitachi Group, Lithium here
News-ID: 1608292 • Views: …
More Releases from Kenneth Research

Global Cardiovascular Pharmaceuticals Market to be Propelled by Growing Investme …
Kenneth Research published a report titled "Cardiovascular Pharmaceuticals Market: Global Demand Analysis & Opportunity Outlook 2033" which delivers detailed overview of the global cardiovascular pharmaceuticals market in terms of market segmentation by drug class, distribution channel, indication and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with…

Global Family Office Market to be Propelled by Surging Number of New Businesses …
Kenneth Research published a report titled "Family Office Market: Global Demand Analysis & Opportunity Outlook 2031" which delivers detailed overview of the global family office market in terms of market segmentation by services, type, net worth managed, and by region.
Access Full Description: https://www.kennethresearch.com/report-details/family-office-market/10346745
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that…
Photomask Market Growth Analysis by Revenue, Size, Share, Scenario on Latest Tre …
Kenneth Research provides an extensive study by our analysts which offers forecast assessment by correlating the historical data with key market dynamics. The Photomask Market further includes trends and opportunities that are highlighted, along with the market valuation. The market is segmented by segments and portrays the industry overview along with elaborate description of the market for the forecast period 2020-2025. The report also constitutes future growth statistics which is…
Embedded Systems Market 2020 New Innovations Trends, Research, Global Share and …
Kenneth Research provides an extensive study by our analysts which offers forecast assessment by correlating the historical data with key market dynamics. The Embedded Systems Market further includes trends and opportunities that are highlighted, along with the market valuation. The market is segmented by segments and portrays the industry overview along with elaborate description of the market for the forecast period 2020-2025. The report also constitutes future growth statistics which…
More Releases for Vehicle
Transformative Trends Impacting the Vehicle-to-Vehicle (V2V) Communication Marke …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.
How Large Will the Vehicle-to-Vehicle (V2V) Communication Market Size By 2025?
The size of the vehicle-to-vehicle (V2V) communication market has seen significant expansion in the most recent years. The market is projected to surge from $24.28 billion in 2024 to $27.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.6%. The…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to the report published by Allied Market Research, the global electric vehicle motor market generated $5.5 billion in 2021, and is estimated to reach $34.4 billion by 2031, witnessing a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the growth of the Asia-Pacific market. Moreover, various technological…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
According to a recent report published by Allied Market Research, titled,"Truck Platooning Market by Technology, Platooning Type, and Communication Technology: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global truck platooning market size was valued at $500.9 million in 2017, and is projected to reach $4,590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025.
To Explore More, Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5245
Global truck platooning market is segmented…
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to a new report published by Allied Market Research, titled, "Electric Vehicle Motor Market," The global electric vehicle motor market was valued at $5.5 billion in 2021, and is projected to reach $34.4 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031.
Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the…
Electric Vehicle Power Inverter Market : Hybrid Vehicle, Plug in Hybrid Vehicle, …
The electric vehicle power inverter market was valued at $8.67 billion in 2021, and is estimated to reach $22.25 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031.
Download Sample Report at https://www.alliedmarketresearch.com/request-sample/9122
Factors that drive the growth of the electric vehicle power inverter market are increase in demand for electric vehicles, proactive government initiatives for the development of electric vehicle, and surge in demand for low-emission and…
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
The global truck platooning market size was valued at $500.9 million in 2017 and is projected to reach $4590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025 by Technology (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), and Others), Platooning type (Driver-Assistive Tuck Platooning (DATP) and Autonomous Truck Platooning), and Communication Technology (Vehicle-to-infrastructure (V2I),…