Press release
Vehicle Battery Market Worth US$43.48 Billion, Globally, by 2030 at 4.64% CAGR: Fairfield Market Research
Get Sample of this Report (Including Full TOC, List of Tables & Figures) @ https://www.fairfieldmarketresearch.com/report/vehicle-battery-market/
The focus on attaining energy sustainability to reduce pollution issues is likely to bring lucrative opportunities for the market. The study indicates that the shift towards green transportation can shape the future of the market.
Widespread Popularity of Electric Vehicles to Boost Market Growth of Vehicle Battery
Vehicle battery plays a pivotal role in improving driving performance and ensuring the operational safety of a vehicle. Numerous technological advancements such as lithium-ion batteries have resulted in a broader acceptance of electric vehicles for personal and commercial uses as its technology allows high battery recharge capacity. Rise in investment to manufacture solutions that increase the vehicle’s battery while lowering production costs will increase the demand of these batteries. For instance, Tesla investments in the development of vehicle batteries in the Asia Pacific market is expected to give the market a shot in the arm.
Government and regulatory bodies are actively working towards curbing carbon emissions by promoting cleaner transportation alternatives. This has pushed manufacturers to develop advanced batteries with high energy density. The market is expected to witness innovations ahead owing to these reasons.
Lack of Infrastructure to Hinder Market Growth During Forecast Period
The global vehicle market is expected to face certain restraints, which might hamper its growth during the forecast period. Lack of charging stations to support the usage of electric vehicles is expected to hinder the market growth. The market for vehicle battery is also expected to suffer as the automotive industry, on the whole, has been experiencing cyclical depression, resulting in plummeting sales. In 2020, several automobile manufacturers suffered mammoth losses, which also percolated to ancillary market such as the vehicle battery market. However, as consumers opt for personal vehicles to avoid crowded shared mobility alternatives, the automobile market is expected to gain momentum.
Vehicle Battery Market Press Release :
https://www.fairfieldmarketresearch.com/reduced-carbon-emissions-and-rapid-electrification-propel-vehicle-battery-market-at-4-64-cagr-2021-2020/
Electric Car Segment to Flourish Owing to Shift Towards Cleaner Alternatives
The electric car segment is expected to rise in demand during the forecast period as consumers behaviour tilts towards sustainable transport systems. Numerous government incentives and stringent regulations to curb carbon emission and to find cleaner alternatives will boost the demand for this segment.
For instance, the Government of India’s Energy Efficiency Services Ltd (EESL) plans to deploy 20,000 EVs across the country for official use. With this move, it aims to achieve an EV sales penetration of 70% for commercial cars, 40% for buses, 30% for private cars, and 80% for two- and three-wheelers by 2030. Such initiatives are expected to create a high demand for new vehicle batteries that operate at excellent efficiency.
In Order to place the Purchase Query Click Here: sales@fairfieldmarketresearch.com
Contracts between Electric Vehicle Manufacturers and Battery Manufacturers to Provide Lucrative Opportunities in Asia Pacific
Asia Pacific is expected to lead the global market for vehicle battery during the forecast period as this region has a large manufacturing base in developing economies such as China and India. Availability of cheap raw material and labour in this region increases its sales. Numerous electric vehicle manufacturers are collaborating with battery manufacturers in Asia such as Volkswagen and BMW to purchase batteries from Samsung SDI, LG Chem, CATL and other Korean producers.
The strong presence of players in the region is expected to keep the regional market at the forefront. Furthermore, as China and India remain hubs of ancillary markets for the automobile industry, the vehicle batter market in this part of the world will have an edge over others.
Key Players are Adopting Strategies such as Mergers and Acquisition to Stay Ahead in Competition
The global vehicle market is heavily dependent on raw material manufacturers and suppliers therefore, key players are adopting numerous strategies such as mergers and acquisitions and joint ventures to consolidate their market presence. For instance, NEDO, Sharp and Toyota have collaborated to manufacture an exclusive car that can run longer without needing to charge. Panasonic and Toyota have also announced a joint venture for producing batteries for electric vehicles.
The key players operating in the global vehicle battery market are BYD Company Limited, Panasonic Corporation, Johnson Controls International PLC, SAMSUNG SDI Co., Ltd, Contemporary Amperex Technology Co., Limited, LG Chem Ltd., A123 Systems Inc.
Latest Reports: https://www.fairfieldmarketresearch.com/shop/
Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA +1 (844) 3829746 (Toll-free)
Email: mail@fairfieldmarketresearch.com
Follow us on LinkedIn: https://bit.ly/3voYIm9
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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 Vehicle Battery Market Worth US$43.48 Billion, Globally, by 2030 at 4.64% CAGR: Fairfield Market Research here
News-ID: 2285971 • Views: …
More Releases from Fairfield Market Research
Soaring Uptake by Dietary Supplements Industry to Favour Omega 3 Market Growth, …
Global omega 3 market that surpassed the valuation of US$4.4 Bn in the year 2019 is likely to reach the revenue of around US$13 Bn toward the end of 2027. In its latest published report, Fairfield Market Research forecasts a robust 14.6% CAGR for omega 3 market over the period of projection, 2021 - 2027. The growth of fortified foods across international markets and increasing worldwide focus on mother-and-new-born nutrition…
Oat Milk Sales Elevate on the Back of Veganism, Dairy-free, Plant-based, and Glu …
Exhibiting an estimated CAGR of 11.5%, global oat milk market value is likely to surpass US$2.6 Bn by the end of 2026. As suggested by the latest Fairfield Market Research report, oat milk sales will gain significantly from the thriving plant-based F&B trend. With plant-based, lactose-free, and gluten-free trend waves gathering momentum over the recent past, the nutrition profile of oat milk will continue to drive its demand at household,…
Global Narcolepsy Drugs Market to Register a CAGR of 11.2% as Pandemic Brings At …
The global narcolepsy drugs market has been under the spotlight recently as the awareness about sleep disorders grows. The pandemic brought with it a sudden wave of sleeping disorders as many found their daily schedules disrupted. Psychological distress added to the gamut of issues, which has raised awareness about narcolepsy too. As the focus on improving lifestyle in the post-pandemic world continues, analysts at Fairfield Market Research estimate the sentiment…
Low Carbon Footprint of Microbial Fuel Cell (MFC) to Create Sustained Demand wit …
The global microbial fuel cell (MFC) market is expected to cross the growth threshold required for competitors to make lucrative gains. The total worth of the global microbial fuel cell (MFC) market is expected to supplant US $15 Mn by the end of 2025, growing at a stupendous CAGR of 9.8% during the period between 2021 and 2025. The wide spectrum of applications pertaining to microbial fuel cells is the…
More Releases for Vehicle
Connected Car Devices Industry Forecast to 2028 Global Market Analysis by Commun …
Connected car devices assist in monitoring vehicles and drivers. These devices update owners and fleet managers about the emissions, vehicle performance, vehicle maintenance, on-board diagnostics (OBD), pertaining to fuel economy index, etc. Also, it provides GPS tracking and real-time alerts. Increasing concerns and awareness regarding safety and high demand for advanced system and safety features in vehicles are driving the growth of the connected car devices market.
Sample PDF showcases the…
Steering Tie Rod Market Vehicle (Passenger car, Commercial vehicle, and Heavy-du …
A steering tie rod is an integral part of the steering mechanism in an automobile as it is a lean structural bar or rod which is used as a tie and it is capable of carrying only ductile loads. The rod tends to transmit a force from the rack gear to the steering knuckle, which enables the wheel to turn while the vehicle is moving. This tie rod comprises two…
Offshore AUV & ROV Market by ROV, High Capacity Electric Vehicle, Small Vehicle, …
This study report Global Offshore AUV & ROV Market, the analyst provides growth estimates, forecasts, and an in-depth analysis of all key factors at play in the Market. The report takes into account the micro and macro factors that are likely to impact the growth trajectory of the Market. The study further presents details on the investments initiated by several organizations, institutions, government, and non-government bodies.
The report investigates and analyzes…
Automotive ABS and ESC Market Report 2018: Segmentation by Product (Three Channe …
Global Automotive ABS and ESC market research report provides company profile for Robert Bosch, TRW, Machino, Haldex, Aisin Seiki, Hitachi, Autoliv, Contenental, Delphi, Denso and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The…
Vehicle to Vehicle (V2V)/Vehicle to Infrastructure (V2I) Market expected to grow …
The V2V/V2I market has penetration into different technologies such as smart sensors, big data analytics and cloud computing. The smart sensors manage and control traffic on the roads by offering the drivers and passengers a plethora of advanced transport services aimed at improving driving efficiency and safety. Big data analytics aids the companies in understanding the user requirements and expectations thus bringing about relevant changes in the automotive developments. Vehicular…
Wheelchair Accessible Vehicle Market : by Vehicle Type - Large Size Vehicle, Med …
Researchmoz added Most up-to-date research on "2017 Global Wheelchair accessible vehicles Industry Report" to its huge collection of research reports.
This report is an essential reference for those who look for detailed information on global Wheelchair accessible vehicles market. The report covers data on national, regional, and global markets including historical and future trends for supply, demand, prices, trading, competition as well as global major vendors' information.
In addition…
