Hybrid EV Battery: Innovation and Product Optimization to Boost Growth

An electric-vehicle battery (EVB, also known as a traction battery) is a battery used to power the electric motors of a battery electric vehicle (BEV) or hybrid electric vehicle (HEV). These batteries are usually rechargeable (secondary) batteries, and are typically lithium-ion batteries. These batteries are specifically designed for a high ampere-hour (or kilowatt-hour) capacity. Electric-vehicle batteries differ from starting, lighting, and ignition (SLI) batteries as they are designed to give power over sustained periods of time and are deep-cycle batteries. Batteries for electric vehicles are characterized by their relatively high power-to-weight ratio, specific energy and energy density; smaller, lighter batteries are desirable because they reduce the weight of the vehicle and therefore improve its performance. Compared to liquid fuels, most current battery technologies have much lower specific energy, and this often impacts the maximum all-electric range of the vehicles.

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Top Impacting Factors
The global hybrid electric vehicle battery market is projected to expand in the coming years, owing to factors such as shrink crude oil reserves and issues concerning distress of the environment. The governments of numerous major countries have made positive adoption of hybrid vehicles that use the electric battery. Several national organizations have issued directives and offer attractive discounts on the purchase of hybrid cars. Major environmental regulations and policies in the EU (European Union) countries have encouraged broad acceptance of the battery-powered vehicle. The erratic crude oil prices are an added incentive that is expected to reinforce customers to adapt such cells during the forecast period.

Today, with the rising concerns raised over the environmental impact of conventional vehicles, governments around the world are encouraging the adoption of vehicles using alternative sources of fuel. EVs are zero-emission vehicles and are securing significance for clean public transport across countries. Several national governments offer financial incentives, such as tax exemptions and rebates, subsidies, reduced parking/toll fees for EVs, and free charging, to encourage the adoption of EVs. Thus, globally the requirement of EV battery is attaining fast pace.

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Competitive scenario:
The report encompasses an in-depth study of the major players operating across the world, along with market share analysis, and an outlook on the strategies adopted by the top players in the industry. Moreover, the report highlights the developmental strategies such as mergers & acquisitions, product launches, and partnerships incorporated by the market players to heighten their foothold in the market.

The hybrid EV battery market analysis covers in-depth information of the major industry participants. Some of the major players in the hybrid ev battery market include Bosch Mobility Solutions, BYD Co., Ltd.,, Tianneng Power International Co., Ltd, E-One Moli Energy Corporation,, Samsung SDI Co., Ltd,, Tesla Motors, Inc.,, CATL, Wanxiang America Corporation, Hitachi Automotive Systems Ltd.,, Automotive Energy Supply Corporation (AESC),, Johnson Controls, Inc.,, A123 Systems LLC, LG Chem.

Market Trends
• Electric vehicles hold a significant advantage over the conventional internal combustion engine vehicles attributed to the lack of transit related emissions and the potential to utilize and develop renewable energy resources
• Companies are coming up with business models like battery swapping and battery-as-a-service (BaaS) that permits users to change/swap EV batteries once discharged.
• This saves users the time required on recharging the batteries, thereby refining customer satisfaction and addressing one of the prime reason's consumers abstain from opting for EVs.
• Various Chinese EV battery manufacturers, such as NIO, follow the BaaS model that de-couples the battery from the EV. The BaaS model allows EV owners to rent battery services monthly instead of purchasing a battery with the EV. The model has two vital advantages: consumers can save money on battery cost, and they have to worry least about battery depreciation. Such models make most of the both, consumers and manufacturers, as manufacturers can accurately forecast the market size and potential by tying up with companies providing battery-as-a-service models.
• Major EV batteries are considered safe as they undergo numerous tests before being put into use.
• However, there have been incidents-such as the recall of 68,000 Chevy EV Bolts after five fire incidents related to batteries-that have raised doubts on the safety of these batteries. EV batteries consist of several inflammable materials such as lithium, manganese, and plastics.
• Lithium is also highly sensitive when exposed to water. Therefore, there are apprehensions over the performance and safety of these batteries in hot or waterlogged environments.
• Furthermore, the recycling of Li-ion batteries is expected to secure the supply of raw materials, such as lithium and cobalt, and reduce the reliance on extracting and refining materials from mineral resources. Recycling of lithium-ion batteries that are currently being used in electric vehicles offers an excellent opportunity for companies to utilize the refined constituent materials for manufacturing lithium-ion batteries that are to be used for energy storage systems (ESS).

By Battery Type
• Lead Acid Battery
• Nickel Metal Hydride Battery
• Lithium-ion Battery

By Vehicle type
• Small Car
• Compact Car
• Mid-size Car
• Luxury Car
• SUVs & Crossover
• Others

By Propulsion
• BEV
• HEV
• PHEV
• FCEV

By Method
• Wire Bonding
• Laser Bonding

By Region
• North America
• Europe
• Asia-Pacific
• LAMEA

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