Electric Vehicle Battery Market 2016-2022 / Trends, Growth, Opportunities and Top Key Players are BYD Company Limited, Panasonic Corporation, Lithium Energy And Power GmbH & Co.

Electric vehicle batteries are extremely important for electric drive kind of vehicle which comprises hybrid electric vehicles, all electric vehicles as well as the plug-in variety of hybrid electric vehicle. In only China itself there are more than a hundred electric vehicle battery manufacturers and the market value is estimated to reach a value of close to 240 billion dollars in the next two decades, while by 2020 it is estimated to be about 37 billion dollars. These batteries are usually secondary batteries and are made to provide power over sustained periods of time.

Market Dynamics:-
The major growth driver behind the surge in the market size and value of electric vehicles is the fact that electric vehicles will account for around 40% of the entire world's vehicle purchases in the next two decades. This prediction stems from the fact that various countries throughout the world are now intently focusing on keeping public transportation infrastructure as pollution free as possible, mostly in case of the cities which are densely polluted. Air pollution is a major concern that acts as a growth driver for electric cars and consequently electric vehicle batteries.

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Market Segmentation:-
Electric vehicle batteries can be classified on the basis of their type or their capacity.In terms of type they are classified as:-

i) Lead- Acid: - These are the most inexpensive and are commonly available and are traditionally preferred owing to their lower cost, higher availability and evolved technology.

ii) Nickel Metal Hydride:- Their technology has also evolved over time but are preferred less over lead-acid batteries owing to their relatively lesser efficiency when it comes to charging and discharging.

iii) Zebra: - These batteries are somewhat less used due to their poorer power density which reduces the charge storage time.

iv) Lithium ion: - These are used most frequently in modern day electric cars.
In terms of capacity they can be classified as full electric, non plug-in hybrids and plug-in hybrids.

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Regional/ Geographic Analysis:-
Geographically speaking Asia Pacific has been the major manufacturer in this space, followed closely by North America and Europe. China, Japan and South Korea in Asia Pacific have been the major exporters to European countries. In this context Europe is expected to see a major growth..

Key Players:-
The main players who operate in this space of electric vehicle batteries are BYD Company Limited, Panasonic Corporation, Lithium Energy and Power GmbH & Co. KG, LG Chem., Hitachi Vehicle Energy Ltd., Zhejiang Tianneng Energy Technology Co. Ltd., Tianneng Power International Co. Ltd, Automotive Energy Supply Corporation and Shenzhen Bak Battery Co. Ltd.

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