Electric Vehicles Battery Market is defined as the power source in electric vehicles and is used for the mobility and propulsion of vehicles. They are in comparison the entire working motor of the electric vehicles whereas in internal combustion engine vehicles, batteries are just used for ignition and initiation of the vehicles. In electric vehicles they power the vehicle over a sustained period of time rather than just the starting.
The major players covered in electric vehicles battery market report are A123 Systems LLC, Panasonic Corporation, MITSUBISHI MOTORS CORPORATION, Beijing Pride New Energy Battery Technology Co., Ltd., Automotive Energy Supply Corporation, BYD Company Ltd., LG Chem, Daimler AG, Robert Bosch GmbH, SAMSUNG SDI CO.,LTD., Wanxiang America Corporation, Tianneng Power International Ltd,, Johnson Controls, GS Yuasa International Ltd. and Hitachi, Ltd among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Electric vehicles battery market will reach at an estimated value of USD 131.13 billion and grow at a CAGR of 16.83% in the forecast period of 2021 to 2028. Growing demand for low emission and electric vehicles globally is an essential factor driving the electric vehicles battery market.
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Electric vehicles battery which is also known as traction battery is used to give power to the electric vehicles and is usually rechargeable in nature. Motorcycles, bicycles, scooters, skateboards, rail cars, watercraft, forklifts, buses, trucks, and cars usually use these batteries. Lead acid batteries, nickel metal hydride batteries and lithium ion batteries are the batteries which are usually used in the electric vehicles. The main aim of the battery is to start the engine; once it gets started the electrical system is supplied by the alternator.
Growing demand for zero emission vehicles is a crucial factor accelerating the market growth, also decreasing cost of EV battery system, rising concerns regarding the harmful effects of climate change with the emission of fuel vehicle, rising alarming pollution level recorded in major countries, increase in petrol and diesel prices due to the depletion of fossil fuel reserves has increased the demand for advanced fuel-efficient technologies, which in turn increases the product demand and rising ongoing development of lithium-ion batteries has enabled battery manufacturers to produce a high-performance battery that satisfies the need for lightweight vehicle are the major factors among others boosting the electric vehicles battery market.
Moreover, rising concerns related to decreasing oil & gas resources and degrading environmental conditions with the use of gasoline vehicles and increasing technological advancements and modernization in the production techniques will further create new opportunities for electric vehicles battery market in the forecast period mentioned above.
Our Report offers: -
- What will the market growth rate? Overview and Analysis by Type of Global Electric Vehicles Battery Market in 2028
- What are the key factors driving? Analysis by Applications and Countries Global Electric Vehicles Battery Market
- What are Dynamics? This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Global Electric Vehicles Battery Market
- Who are Opportunities? Risk and Driving Force of Global Electric Vehicles Battery Market
- Who are the opportunities and threats faced by the vendors in Global Electric Vehicles Battery Market? Business Overview by Type, Applications, Gross Margin and Market Share
- What are the Global Electric Vehicles Battery Market opportunities? Market risk and market overview of the Market
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Key Pointers Covered in Global Electric Vehicles Battery Market and Forecast to 2028
- Market Size
- Market New Sales Volumes
- Market Replacement Sales Volumes
- Market by Brands
- Market Procedure Volumes
- Market Product Price Analysis
- Market Regulatory Framework and Changes
- Market Shares in Different Regions
- Recent Developments for Market Competitors
- Market Upcoming Applications
- Market Innovators Study
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