Electric Vehicle Battery Market Key Companies Profile, Supply, Demand, Cost Structure Analysis

The global Electric Vehicle Battery Market was valued at $23 million in 2017 and is projected to reach $84 billion by 2025, growing at a CAGR of 17.2% from 2018 to 2025. The global electric vehicle battery market is expected to witness steady growth due to stringent vehicle emission norms and an increase in the demand for fuel-efficient and low-emission vehicles. The global EV battery market is projected to witness considerable growth, especially in the emerging economies, owing to the enhanced demand for electric vehicles and rise in the global awareness about the menace of vehicle pollution.

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The Objective of the "Global Electric Vehicle Battery Market" report is to depict the trends and upcoming for the Data Masking industry over the forecast years. Electric Vehicle Battery Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2019 to 2026 mulling over 2018 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.

An electric vehicle the battery is a secondary (rechargeable) battery, which is used to power the propulsion of electric vehicles. Also known as a traction battery, it uses chemical energy stored in rechargeable battery packs for power and therefore does not require any combustion engine for propulsion.

At present, the Asia-Pacific region dominates the global EV battery market. An increase in vehicle population and a rise in vehicle standards fuel the growth of the Asia-Pacific EV market. Moreover, various technological advancements in electric vehicles have been in progress, owing to government initiatives, which further propels the growth. According to Economics Times, The Ministry of Industry and Information Technology (MIIT) China has set up a trial EV battery recycle program in the greater Beijing Hebei Tianjin region, the Yangtze River, Pearl Delta River, and Central China areas to curb pollution, as on 5 March, 2018.

In the propulsion type segment, the hybrid electric vehicles dominated the market in 2017, owing to the voluminous production of hybrid electric vehicles.

The key players profiled in the report include Panasonic, AESC, BYD, Mitsubishi, LG Chem, Samsung, Wanxiang, Beijing Pride Power, Tianneng, and SB LiMotive.

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Driving factors for the market
1. Growing demand for zero-emission vehicles
2. Decreasing cost of the EV battery system

Market Restraints and Opportunities:
1. High import taxes
2. Growth in public charging infrastructure
3. The rise in government initiatives

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