EV Battery Market: Global and Regional Analysis with Forecast till 2028, Business Opportunities, Post COVID Scenario

According to the report, the global EV Battery market is expected to grow from $21.1 Billion in 2020, which is expected to reach $113.9 Billion by 2028, growing at the CAGR of 22.64% from 2020 to 2028. This growth is attributed to the increased demand for electric vehicles with increased fuel efficiency, reduced emissions, and less noise pollution. The growth in the market is further accelerated by the efforts of governments to reduce carbon emissions through regulations for vehicle emissions. One of the major factors driving the growth in the EV Battery Market is the rise in the prices of crude oil, which has encouraged people to use electric vehicles. The major factor restraining the growth of the market includes the fluctuation in raw material pricing. The major opportunity in the EV Battery Market is the increasing global electric vehicles industry. The EV battery market is growing rapidly due to the rising demand for electric vehicles. The government of each country is encouraging electric vehicles to save global warming. This is the major factor that has led to the increase in the electric vehicles market.

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The recently published research report on the Global EV Battery Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the EV Battery market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal
As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the EV Battery market report also includes the following data points:
• COVID19 Impact on EV Battery market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in EV Battery market

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Key Players
Some of the major EV Battery players holding high market share include Panasonic, AESC, BYD, Mitsubishi. These players use the partnership as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
• Panasonic
• AESC
• BYD
• Mitsubishi
• LG Chem
• Samsung
• Wanxiang
• Beijing Pride Power
• Tianneng
• SB LiMotive

Segmental Analysis
Market Segment By Battery Type with focus on market share, consumption trend, and growth rate of EV Battery Market:
o Lead-acid
o Lithium-ion
o Others

Market Segment By Material Type with focus on market share, consumption trend, and growth rate of EV Battery Market:
o Lithium
o Cobalt
o Manganese

Market Segment By Vehicle Type with a focus on market share, consumption trend, and growth rate of EV Battery Market:
o Passenger Cars
o Vans/Light Trucks
o Others

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Global EV Battery Geographic Coverage:
• North America
o US
o Canada
o Mexico

• Europe
o UK
o Germany
o France
o Italy
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia Pacific

• Rest of the World
o South America
o Middle East & Africa

The Asia Pacific region has the largest share in the EV battery market due to the rising popularity of electric vehicles in the region has caused an increase in the demand for secondary batteries. The rising contenders in the market are the rising demand, higher disposable income, rising urbanization, rising environmental consciousness, rising government support, and the need for superior electric vehicle batteries.

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