Electric Vehicles Battery Market Is Predicted To Grow At A CAGR Of 8% By 2023

Market Highlights:
The global electric vehicle market is very dynamic and is expected to witness significant growth over the forecast period. As a result, the demand for its battery, has also shot up. During the last few years, the global electric vehicle battery market has seen remarkable growth due to the rise in the sales of electric vehicles. It has also been observed that the market demand will grow rapidly during the forecast period. This market is expected to grow at the CAGR of over 8% during forecast period.
The global electric vehicle battery market has largely been influenced by the growth in the number of electric cars and trucks, and government initiatives on reducing vehicles emissions. Focus on renewable forms of energy, and government regulations on tax exemptions on electric vehicles, also lead to the growth of the market. In spite of the growth factors, the global market could face the challenges such as high installation cost, and slow charging time.

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Key Players:
The prominent players in the electric vehicle battery market include Automotive Energy Supply Corporation (Japan), Panasonic Corporation (Japan), BYD Company Limited (China), LG Chem Ltd (South Korea), Quallion (US), Boston-Power (US), Johnson Controls International (US), Narada Power Source (China), GS Yuasa Corporation (Japan), Tianneng Power International (China), Crown Battery Corporation (US), and Hitachi Chemical Company (Japan).

Market Research Analysis:
Region wise, the global electric vehicles battery market has been segmented as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific has accounted for the largest market share, in 2016, followed by North America and Europe. In Asia Pacific, countries such as China, South Korea, Japan and India are the major markets of electric vehicles battery. Europe and North America, are the second and third leading regions. Increasing demand for electric cars, and growing awareness of ecofriendly vehicles have been the major growth drivers. Europe, has been witnessing a rise in the sales of new electric vehicles, which has augmented the demand for electric vehicles battery, here. Also, Germany, UK and France being the leading countries in Europe, have fuelled the growth of the market. Asia Pacific has registered the fastest growth, of all economies in the global market.

With the global economy undergoing an extraordinary level shift, major emerging countries such as China, India, Thailand, and Indonesia are becoming manufacturing hubs for global automotive players. As a result of increasing prosperity in the emerging economies, more and more people are being able to afford their own cars, particularly in emerging Asian economies such as China and India. In order to tap these rising consumer automobile preferences, leading global automotive players such as Volkswagen, BMW, Toyota, and Ford, are entering into new emerging markets for business expansion. As the global auto-manufacturers continue to expand into growing and emerging markets, the demand for electric vehicles will also rise. However, these factors have created ample opportunities for the growth of electric vehicles battery market, across the globe.

Scope of the Report:
This study provides an overview of the global electric vehicles battery market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global electric vehicles battery market by battery type, by vehicle technology, by end market and by regions.

By Battery Type
• Lithium Ion Battery
• Lead Acid Battery
• Nickel Hydride Battery
• Others

By Vehicle Technology
• Battery Electric Vehicles
• Hybrid Electric Vehicles
• Plug-in Hybrid Electric Vehicles
• Others

By End Market
• OEMs
• Aftermarket

By Regions
• North America
• Asia Pacific
• Europe
• Rest of the World

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Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power of Suppliers
3.1.3 Bargaining Power of Buyers
3.1.4 Threat of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
Continue…

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