Electric Vehicle Battery Market – 2019 Size, Share, Growth, Trends, Regional Analysis With Global Industry Forecast To 2023

Electric Vehicle Battery Market 2019 Global Forecast to 2023 is latest report published by Market Research Future. Global Electric Vehicle Battery Market is to grow at healthy 8.81% CAGR by 2023. Electric Vehicle Battery Market by Battery Type , Technology, End Market and Regional Forecast To 2023.

Pune, India – August 5, 2019 /MarketersMedia/ —

Electric Vehicle Battery Market 2019 Global Size, Growth, Share, Trends, And Regional Outlook to 2023 is latest report published by Market Research Future. Global Electric Vehicle Battery Market is to grow at healthy 8.81% CAGR by 2023. Global Electric Vehicle Battery Market by Battery Type (Lithium Ion Battery, Lead Acid Battery, Nickel Hydride Battery and others), Vehicle Technology (Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles and Others), End Market (OEMs and Aftermarket) and Region Forecast To 2023.

The global Electric Vehicle Battery market showcases a vast presence of noteworthy players including Automotive Energy Supply Corporation (Japan), LG Chem Ltd (South Korea), Crown Battery Corporation (US), Quallion (US), Narada Power Source (China), BYD Company Limited (China), Johnson Controls International (US), Tianneng Power International (China), Panasonic Corporation (Japan), Hitachi Chemical Company (Japan), Boston-Power (US), and GS Yuasa Corporation (Japan).

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Electric Vehicle Battery Market Highlights:

The electric vehicle battery market has witnessed tremendous growth over the recent years, and findings suggest that fantastic growth is expected for the market during the review period. This is largely due to the surging demand for electric vehicles across the world. The demand for electric vehicles, and by extension electric vehicle batteries is driven by the surge in fuel prices, concern regarding the longevity and availability of non-renewable resources in the future and environmental concern regarding emissions.

Electric vehicles comply with the global aims to reduce carbon emission and meet sustainability due to which they have gained massive popularity. Moreover, due to development in batteries, their prices have declined considerably. High-performance and storage efficiency has increased adoption among consumers. Rigorous R&D activities are further likely to enhance the growth of the market. Other factors motivating the growth of the market include the development of charging infrastructure across the globe.

Additional factors substantiating market growth include increasing fuel prices, increasing environmental concerns, government initiatives to promote the uptake of eco-friendly, electric vehicles, and the expansion of global auto-manufacturers into new emerging markets. Increasing investments transpired into the development of these batteries is another key factor fostering the market growth.

On the other hand, factors such as the high prices of the electric vehicle and its batteries and underdeveloped aftermarket services are hindering the market growth. Nevertheless, the demand for e-vehicles which is expected to grow in another three to four years will support the market growth.

Global Electric Vehicle Battery Market Segments:

The global Electric Vehicle Battery market is studied for various segments by Market Research Future.

The electric vehicles battery market has been segmented based on battery type, vehicle technology, end market.

By battery type, the electric vehicles battery market has been segmented into lithium-ion battery, lead acid battery, nickel hydride battery, and others. The lithium-ion battery segment is anticipated to lead the market and will be followed by nickel hydride battery and lead-acid battery.

By vehicle technology, the electric vehicles battery market has been segmented into plug-in hybrid electric vehicles, battery electric vehicles, hybrid electric vehicles, and others. The battery electric vehicles segment is anticipated to have the largest share of the market, followed by hybrid electric vehicles.

By end market, the electric vehicles battery market has been segmented into OEMs and aftermarket.

Global Electric Vehicle Battery Market Regional Overview:

The Global Electric Vehicle Battery market has been regionally segmented into North America, Asia Pacific, Europe, and Rest of the World. The Asia Pacific region dominates the electric vehicles battery market across the globe followed by the North American and European region, respectively. The growth of the regional market majorly attributes to the promising government regulations that encourage investments from public-private partnerships, and foreign direct investments. Also, growing markets in developing countries such as China, South Korea, and India are expected to fuel the electric vehicles battery market in the region.

Europe is another key market which has been growing rapidly due to the high demand for electric vehicles in the market. Germany, U.K, and France are among the leading country-level markets in the region.

The North American region accounts for the second-largest market for the battery of the electric vehicle. Rising technological enhancements and increasing focus of the government towards the use of eco-friendly vehicles such as electric cars that leave a lesser impact on the environment. Furthermore, the well-established infrastructure the region supports the market growth, allowing faster implementation of advanced technologies. Additionally, the growing number of manufacturers providing Lithium-ion and lead-acid batteries at comparatively lower prices is another major factor driving the growth of electric vehicles battery market in the region.

TABLE OF CONTENTS:

TABLE 1 GLOBAL ELECTRIC VEHICLES BATTERY MARKET: BY REGION, 2017-2023

TABLE 2 NORTH AMERICA ELECTRIC VEHICLES BATTERY MARKET: BY COUNTRY, 2017-2023

TABLE 3 EUROPE ELECTRIC VEHICLES BATTERY MARKET: BY COUNTRY, 2017-2023

TABLE 4 ASIA PACIFIC ELECTRIC VEHICLES BATTERY MARKET: BY COUNTRY, 2017-2023

TABLE 5 ROW ELECTRIC VEHICLES BATTERY MARKET: BY COUNTRY, 2017-2023

TABLE 6 GLOBAL ELECTRIC VEHICLES BATTERY MARKET, BY BATTERY TYPE, BY REGIONS, 2017-2023

TABLE 7 NORTH AMERICA ELECTRIC VEHICLES BATTERY MARKET, BY BATTERY TYPE, BY COUNTRY, 2017-2023

TABLE 8 EUROPE ELECTRIC VEHICLES BATTERY MARKET, BY BATTERY TYPE, BY COUNTRY, 2017-2023

TABLE 9 ASIA PACIFIC ELECTRIC VEHICLES BATTERY MARKET BY BATTERY TYPE, BY COUNTRY, 2017-2023

Continued…

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