Electric Vehicle Battery Market 2026 High Demand with Key Players AESC, BYD, Mitsubishi, LG Chem, Samsung, Wanxiang, Beijing Pride Power
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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.
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.
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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.
Key questions answered in Electric vehicle battery market research study:
o What is the market growth rate of Electric vehicle battery market from 2017-2025?
o What will be the global market size of the market from 2017 to 2025?
o Who are the leading global manufacturing companies in the Electric vehicle battery market?
o What are the major current trends and predicted trends?
o What are the challenges faced in the Electric vehicle battery market?
o Which will be the Electric vehicle battery application and types and forecast accompanied closely by producers?
o What are the conclusions of the Electric vehicle battery market report?
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