An electric vehicle battery also referred as traction battery is utilized to power electric vehicles for propulsion. These batteries are characterized by their relatively high energy-to-weight ratio, power-to-weight ratio and energy density as lighter & smaller batteries reduce vehicle weight and enhance vehicle performance. They differ from starting, lighting and ignition batteries as they designed to provide power over sustained time periods. Newly introduced battery technologies have lower specific energy which often influences maximal all-electric range of vehicles. However, metal air batteries possess high specific energy as cathode in these batteries is provided by surrounding oxygen present in air. Lead acid batteries, nickel metal hydride batteries and lithium-ion batteries are the rechargeable batteries utilized in electric vehicles. The electric charge and total energy in batteries is measured in coulombs and watt hours respectively.
Growing concerns associated with decreasing oil & gas resources and worsening environment conditions are factors responsible for increasing demand of electric powered vehicles. Electric vehicles depend on electric batteries to deliver primary or secondary power. Thus increasing demand of electric vehicles is the primary factor driving electric vehicles battery market growth. Asia-Pacific is expected to register substantial growth due to government incentives encouraging usage of battery powered vehicles and increasing concerns associated with energy security in the region. High cost of electric vehicles batteries serve as the major restraint to the market growth. However, increasing demand of these batteries in emerging economies such as China and development of new enhanced battery recycling processes are factors expected to provide potential growth opportunities for market expansion.
The report segments the electric vehicles battery market on the basis of type, application and geography. Based on type, it is divided into lead acid batteries, nickel metal hydride batteries, lithium-ion batteries, metal air batteries, sodium nickel chloride batteries, and ultra capacitors batteries. On the basis of application, the market is bifurcated into battery electric vehicles, hybrid vehicles, plug-in hybrid electric vehicles and plug-in electric vehicles. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global market focus on key market strategies such as mergers, acquisitions, collaborations, and partnerships to strengthen their market reach to maintain their position in the competitive market.
Comprehensive Competitive Analysis And Profiles of Major Market Players Provided in the Report are as follows:
- Automotive Energy Supply Corporation
- Blue Energy Co., Ltd.
- GS Yuasa Corporation
- Hitachi Group
- LG Chem Power Inc.
- Lithium Energy Japan Corporation
- Panasonic Automotive Energy Dalian Co., Ltd.
- Boston-Power, Inc.
- Robert Bosch GmbH
- Samsung SDI Co. Ltd.
- This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global electric vehicle battery market to identify the prevailing market opportunities.
- Major countries in each region are mapped according to individual market revenue.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- An in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.
- Key players and their key developments in the recent years are listed.
Electric Vehicles Battery Market Key Segments:
- Lead Acid Batteries
- Nickel Metal Hydride Batteries
- Lithium-Ion Batteries
- Metal Air Batteries
- Sodium Nickel Chloride Batteries
- Ultra Capacitors Batteries
- Battery Electric Vehicles
- Hybrid Vehicles
- Plug-in Hybrid Electric Vehicles
- Plug-in Electric Vehicles
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA