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Electric Vehicle Battery Market Coronavirus (COVID-19) : News and Business Impact Analysis (2020-2025)

07-28-2020 12:07 PM CET | Energy & Environment

Press release from: Allied Market Research

Electric Vehicle Battery

Electric Vehicle Battery

The research offers a detailed segmentation of the global electric vehicle battery market. Key segments analyzed in the research include North America, Europe and geography. Extensive analysis of sales, revenue, growth rate, and market share of each Battery Electric Vehicle, Hybrid Electric Vehicle and Plug-in Hybrid Electric Vehicle for the historic period and the forecast period is offered with the help of tables.

Electric Vehicle Battery Market by Propulsion Type, Battery Type, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2017-2025," the global was valued at $23 million in 2017 and is projected to reach at $84 billion by 2025, growing at a CAGR of 17.2% from 2018 to 2025.

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An electric vehicle 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.

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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.

KEY FINDINGS OF THE STUDY

* In 2020, the hybrid-electric vehicles sub-segment generated the highest revenue in the global electric vehicle battery market.
* In 2020, the passenger cars segment generated the highest revenue among the other vehicle types in the global electric vehicle battery market owing to increase in the number of passenger EV registrations.
* In 2020, based on battery type, the Lithium-ion battery dominated the electric vehicle battery market worldwide.

The research offers an extensive analysis of key players active in the global electric vehicle battery industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research. Leading market players analyzed in the report include Panasonic, AESC, BYD, Mitsubishi, LG Chem, Samsung, Wanxiang, Beijing Pride Power, Tianneng, and SB LiMotive.

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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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