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Electric Vehicle (EV) Batteries Global Market : Size, Trends, Competitors, Growth Opportunities And Forecast To 2032
Electric Vehicle (EV) Batteries Market
The Business Research Company's Electric Vehicle (EV) Batteries Global Market Report 2023 identifies advances in electric vehicle (EV) batteries and their associated technologies as the major driver for the Electric Vehicle (EV) Batteries market's growth in the forecast period. Recent advancements such as lithium-ion batteries, fast charging, and better mileage have helped the electric cars become more passenger-friendly. According to the United States Department of Energy, the range of average electric car have increased from 73 miles in 2011 to 400 miles in 2021.
The global electric vehicle batteries market will grow from $25.43 billion in 2022 to $27.24 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electric vehicle batteries market is expected to grow to $35.54 billion in 2027 at a compound annual growth rate (CAGR) of 6.9%.
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Major competitors in the Electric Vehicle (EV) Batteries market are Panasonic Corporation, Mitsubishi Motors Corporation, Beijing Pride New Energy Battery Technology Co. Ltd.
A key trend in the Electric Vehicle (EV) Batteries market includes charging of Electric vehicle batteries using Vehicle to grid technology. Vehicle to grid technology is a Bi-directional charging system technology in which plug-in electric vehicle like battery electric vehicle (BEV), plug-in hybrids (PHEV) or hydrogen fuel cell electric vehicle (FCEV) batteries' can communicate with the power grid for either returning electricity to the grid, to homes during the peak times or increase their charging rate to discharge and charge the battery accordingly. For instance, in January 2021, FCA along with Engie EPS and Terna has launched the first phase of a vehicle-to-grid (V2G) pilot project in Turin, Italy, to test potential connections of the company's vehicles to the grid. Thus, Vehicle to grid technology is anticipated to be a major trend in the electric battery market.
Read More On The Global Electric Vehicle (EV) Batteries Market Report Here:
https://www.thebusinessresearchcompany.com/report/electric-vehicle-batteries-global-market-report
The Electric Vehicle (EV) Batteries market is segmented -
• By Battery Type: Lithium-Ion, Lead-Acid, Nickel-Metal Hydride, Sodium-Ion, Other Battery Types
• By Vehicle Type: Passenger Vehicles, Commercial Vehicles
• By Propulsion: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV)
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Electric Vehicle (EV) Batteries market.
The Business Research Company's "Global Electric Vehicle (EV) Batteries Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Electric Vehicle (EV) Batteries Market Include:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
………………………
19. Company Profiles
20. Key Mergers and Acquisitions
21. Opportunities And Strategies
22. Electric Vehicle (EV) Batteries Market, Conclusions And Recommendations
23. Appendix
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