Electric Vehicle Battery Pack Market 2021-2027 Forecast and COVID-19 Impact on Business, Industry, Revenue and Actionable Insights-BYD, Panasonic

Electric Vehicle Battery Pack Market by Component, Application, Services, and Region- Forecast to 2027

The Global Electric Vehicle Battery Pack Market Research Report 2021-2027 is a significant source of keen information for business specialists. A report published by Market Insights Reports is an overall investigation and thorough information in regards to the market size and market elements of the Electric Vehicle Battery Pack. It furnishes the business outline with development, historical and futuristic cost analysis, income, demand, and supply information (upcoming identifiers). The research analysts give a detailed depiction of the worth chain and its wholesaler examination. The Electric Vehicle Battery Pack market study gives extensive information which upgrades the agreement, degree, and use of this report. This is a latest report, covering the COVID-19 impact on the market.

In 2020, the global Electric Vehicle Battery Pack market size was US$ 37360 million and it is expected to reach US$ 230700 million by the end of 2027, with a CAGR of 29.7% during 2021-2027.

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Top Companies in the Global Electric Vehicle Battery Pack Market are - BYD, Panasonic, CATL, OptimumNano, LG Chem, GuoXuan, Lishen, PEVE, AESC, Samsung, Lithium Energy Japan, Beijing Pride Power, BAK Battery, WanXiang, Hitachi, ACCUmotive, Boston Power

-Industry News On Electric Vehicle Battery Pack market-
-Although, the overall production and sales of new vehicles came to a halt across the globe due to the outbreak of COVID-19, however the impact on electric vehicles was positive. The number of EVs sold in 2020 was more than the total EVs sold in 2019. However, component manufacturing was affected negatively, and small Tier II & Tier III manufacturers faced liquidity issues.

-However, the industry witnessed a slow recovery from the second half of 2020, with global deliveries of BEVs and PHEVs increasing 43% year-on-year, though the global light vehicle market witnessed a decline in growth by 14%. According to EV-Volumes, the global EV market share increased from 2.5% in 2019 to 4.2% in 2020. Almost 1.4 million plug-in EVs were sold in Europe in 2020, 137% more than in 2019. Key factors for the growth in Europe were new models; incentive boosts by green recovery funds; the 95g CO2 emission mandate; and the intense promotion of plug-in EVs. In China, NEV sales recovered in the second half of 2020, with a growth rate of more than 80% year-on-year from July to December. EV sales in the US increased by 4%, despite the Tesla Model-Y launch. A decline in EVs sales was witnessed in countries like Japan, Canada, and Australia.

-Due to the pandemic, many countries imposed a complete lockdown of more than two months, which, in turn, impacted the production of electric vehicles and battery components. Manufacturing units around the world were shut down, and electric vehicle sales took a significant hit initially. However, the majority of the automakers resumed vehicle production with limited production and necessary measures.

Electric Vehicle Battery Pack Market Segmentation:

This report fragments the Global Electric Vehicle Battery Pack Market based on Types are-

Lithium Ion Battery

NI-MH Battery

Other Battery

Based on Application, the Global Electric Vehicle Battery Pack Market are divided into-

PHEVs

BEVs

Prime Takeaways on Electric Vehicle Battery Pack Market Report:

Value chain analysis, which is combined with competitive landscape of key players of the Electric Vehicle Battery Pack market.
Market size and forecast of the Electric Vehicle Battery Pack market for the period from 2021 to 2027.
Global presence of the market, market dynamics and evaluation by upstream and downstream of raw materials.
CAGR% for individual segments in various regional markets for a period from 2021 to 2027.

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Geographic Coverage of Electric Vehicle Battery Pack Market Report-

The Electric Vehicle Battery Pack report contains detailed country-level analysis, market revenue, market value and forecast analysis of Electric Vehicle Battery Pack Market (2016-2027) of these regions are covered:

North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, etc.)
Middle East & Africa (Saudi Arabia, Egypt, Nigeria, and South Africa)

Reasons for purchasing this Report-

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