openPR Logo
Press release

Electric Vehicle Battery Market Expected to Experience Bolstering Sales during Forecast Period, 2017 - 2022 | Major Players - Toshiba Corporation , Delphi Automotive PLC , Samsung SDI , LG Chem Ltd , Denso Corporation

08-09-2019 09:09 AM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

Electric Vehicle Battery Market Expected to Experience

According to a Fact.MR study, global sales of electric vehicle batteries surpassed a valuation of US$ 90,700 million in 2018, and are anticipated to register a Y-o-Y growth of approximately 14% in 2019. Growing popularity and demand for electric vehicles (EVs), owing to increasing efforts to reduce emissions and ease pollution, continue to impact the sales of electric vehicle batteries. The study analyzes the market in detail, and offers analysis of key macroeconomic and industry-specific factors influencing the growth of electric vehicle battery market.

Download sample copy of this report: https://www.factmr.com/connectus/sample?flag=S&rep_id=3587

The study finds that governments in various regions across the globe are pushing the adoption of EVs that will contribute to an effective reduction in emissions of greenhouse gases. This, coupled with growing consumer concerns regarding negative impact of climate change and alarming rise in pollution levels has influenced growth in EV production, subsequently boosting the sales of electric vehicle batteries. Additionally, around 20 major cities worldwide have announced the plans to ban gasoline and diesel cars by 2030 or sooner, providing potential growth prospects of the electric vehicle battery market.

According to the study, although EVs continue to gain popularity for their lower running cost, increased interior space, and unique exterior styling, many customers still express concerns over their cost premium and lack of charging infrastructure. This has led to introduction of new battery cells and reduction of battery pack mass, resulting in improvements in energy density, charge discharge, and thermal performance. Further, advances in battery management systems have contributed towards extending battery life, vehicle range as well as safety. Prospects of the electric vehicle battery market will be promising, as cell manufacturers are also directing their focus towards innovative concepts such as solid state technology, lithium-air batteries, and alternative metal-ion chemistries.

Asia Pacific Excluding Japan (APEJ) Leads Gains in Electric Vehicle Battery Market

The study opines that APEJ will continue to be the leading market for electric vehicle batteries, with sales in 2018 closed in on revenues worth US$ 35,000 million. Global production of batteries for electric vehicles, especially passenger cars, remains concentrated in Asia, with China controlling over the raw materials such as lithium and cobalt needed to manufacture the batteries. In addition, according to the World Economic Forum and EV Volumes.com, China accounted for nearly 60% of the global electric vehicle sales and production in 2018. These factors along with strong automotive industry, improving economy, and rising disposable income in the region will continue to drive the APEJ electric vehicle battery market.

The study finds that parallel hybrid powertrains will contribute a relatively large sales of electric vehicle batteries, exceeding a valuation of US$ 64,800 million in 2018. Parallel hybrid powertrains or drivetrains are gaining increasing application in EVs or HEVs for their ability to deliver mechanical power from both electric motor and internal combustion engine simultaneously. In addition, HEVs with parallel hybrid powertrains make them more efficient for highway driving at higher and constant speed.

With over 50% revenue share in 2018, passenger cars continue to account for highly significant sales of electric vehicle batteries, according to the study. New government initiatives such as financial incentives reducing the cost of buying EVs, low- and zero-emission vehicle mandates, tightened fuel-economy standards and regulation, and other are likely to influence the adoption of electric cars, which in turn will impact the sales of electric vehicle batteries for passenger cars.

Inquire about this Report @ https://www.factmr.com/connectus/sample?flag=AE&rep_id=3587

Contact Us            
Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/
Blog: https://factmrblog.com/
Read Industry News at - https://mypeopletimes.com/

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized automotive market reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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 Expected to Experience Bolstering Sales during Forecast Period, 2017 - 2022 | Major Players - Toshiba Corporation , Delphi Automotive PLC , Samsung SDI , LG Chem Ltd , Denso Corporation here

News-ID: 1820400 • Views: 298

More Releases from Fact.MR

10-05-2020 | Health & Medicine
Fact.MR
Biobanking Market to Soar to US$ 3.5 Bn by 2027, Notes Fact.MR
Biobanks are a type of repository which is used in the storage of biological samples, including human and animal tissues, which primarily find use in research applications. Consequently, the process of biobanking has become a very important part of medical research and has played a major role in modern science fields such as personalized medications, and genomics. The global biobanking market is expected to grow at a healthy CAGR of ~
Mini LED Market to Expand 7.5X by 2030, Finds New Study by Fact.MR
In recent years, increasing popularity of OLED TVs in China and India has been significantly influencing growth of the mini LED market. With an increase in disposable income of a majority of the population in these countries, the inclination towards smart screens with higher lifespan and better performance is expected to open up numerous growth opportunities for the mini LED market. Moreover, aspiring and affluent households have increased their spending
Uncertainty Surrounding COVID-19 to Shave-off Growth in Electrical Steel Market …
The global electrical steel market has utilized the opportunities in the market over the last decade with sales of electrical steel pegged at US$ 20.4 Bn in 2019. However, sales are set to plummet during in the middle two quarters of 2020 owing to COVID-19. In addition, several automakers have shuttered their production units, causing incalculable loss to the electrical steel market in 2020. However, the demand of electrical steel
07-02-2020 | Health & Medicine
Fact.MR
Medical Device Contract Manufacturing Market Set for Strong Growth, Production F …
The medical device contract manufacturing market is poised to expand at a CAGR of 11.3% during the forecast period (2020-2026). This is attributed to rapidly evolving healthcare industry and increasing adoption of technologically advanced surgical procedures. A number of original equipment manufacturers (OEMs) and contract manufacturers have been focusing on advanced technologies such as robotics, 3D-printing, and minimally invasive surgeries. Mergers & acquisition activities among leading players have greatly accelerated

All 5 Releases


More Releases for EVs

Strategic use of Advanced Manufacturing in the development of EVs
Italy-based professional 3D Printing supplier CRP Technology has manufactured cell pouch frames for Energica Motor Company, to test on battery pack prototypes, both for the racing and the production sides. The cell pouch frames were created using laser sintering technology and composite flame-retardant material First Italian manufacturer of supersport electric motorcycles, Energica Motor Company Spa is a leading innovator in the EV market. Thanks to the close involvement in the MotoE(TM) racing series
Global Hybrid Cars and EVs Market,Share, Growth 2019-2024
Hybrid Cars and EVs is one kind of new vehicle which utilizes the unconventional fuel as the power source integrating the advanced technology of the power control and drive section. The unconventional fuel generally is power. It mainly includes the PHEV, EV and HEV. The largest consumption region is also the Japan, China has largest consumption growth rate, the Europe and USA has relative smaller consumption region, because their governments support
Enhanced Vision System (EVS) Market Size, Share, Development by 2023
New report published by Market Research Report Store (MRRS) which offers insights on the global Enhanced Vision System (EVS) market. Enhanced vision system, a stand-alone thermal imaging camera that sees infrared energy emitting, or radiating, from objects and forms a real-time video image that is displayed on an MFD or dedicated video display screen. The system’s primary benefit is improving situational awareness. At night, an EVS eliminates the visual effects of
Technological Advancements Of Global Micro EVs Market - 2023
Researchmoz added Most up-to-date research on "Global Micro EVs Market by Manufacturers, Countries, Type and Application, Forecast to 2023" to its huge collection of research reports. A micro electric vehicle (EV) is a four-wheeled electric powered micro vehicle with an attainable speed of more than 20 miles per hour but not more than 25 miles per hour (in China, not more than 70 kilometers per hour) on a paved surface, and
Global Micro EVs Market 2018 - Tangjun, Yamaha, Fulu, Xinyuzhou
Global Micro EVs Market 2018 Analysis Report audits a Market Regions, Product Categories, with Sales, Business Revenue, Goods cost, Micro EVs piece of the overall industry and Growth patterns, concentrating on driving Micro EVs industry players, showcase size, request and supply examination, utilization volume, Forecast 2018 to 2022. The major regions present in the continents like United States, Germany, Japan and China and their contribution to global Micro EVs market is
Global Micro EVs Market 2018 - Lichi, Baoya, Tangjun, Yamaha
Global Micro EVs Market 2018 Analysis Report audits a Market Regions, Product Categories, with Sales, Business Revenue, Goods cost, Micro EVs piece of the overall industry and Growth patterns, concentrating on driving Micro EVs industry players, showcase size, request and supply examination, utilization volume, Forecast 2017 to 2025. The major regions present in the continents like United States, Germany, Japan and China and their contribution to global Micro EVs market is