Report Code: A14869 | Pages: NA | Mar 2023 | 1330 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Hybrid Ev Battery Market
Request Now !An electric-vehicle battery (EVB, also known as a traction battery) is a battery used to power the electric motors of a battery electric vehicle (BEV) or hybrid electric vehicle (HEV). These batteries are usually rechargeable (secondary) batteries, and are typically lithium-ion batteries. These batteries are specifically designed for a high ampere-hour (or kilowatt-hour) capacity. Electric-vehicle batteries differ from starting, lighting, and ignition (SLI) batteries as they are designed to give power over sustained periods of time and are deep-cycle batteries. Batteries for electric vehicles are characterized by their relatively high power-to-weight ratio, specific energy and energy density; smaller, lighter batteries are desirable because they reduce the weight of the vehicle and therefore improve its performance. Compared to liquid fuels, most current battery technologies have much lower specific energy, and this often impacts the maximum all-electric range of the vehicles.
Market Scope and Structure Analysis
Report Metric | Details |
Market Size Available for Years |  2020–2030 |
 Base Year Considered |  2020 |
 Forecast Period |  2021–2030 |
 Forecast Unit |  Value (USD) |
 Segments Covered |  Battery Type, Vehicle Type, Propulsion, Method, and Region |
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COVID-19 Impact analysis
Even though, the all in all production and sales of new vehicles came to a stop across the globe due to the outbreak of COVID-19, while the impact on electric vehicles was positive. The number of EVs sold in 2020 was more than the total EVs sold in 2019. However, component manufacturing was affected negatively, and small Tier II & Tier III manufacturers faced liquidity issues. Due to the pandemic, many countries imposed a complete lockdown of more than two months, which, inversely, impacted the production of electric vehicles and battery components. Manufacturing units around the world were shut down, and electric vehicle sales took a crucial hit initially.
However, the majority of the automakers recommenced vehicle production with finite production and necessary measures.
Top Impacting Factors
The global hybrid electric vehicle battery market is projected to expand in the coming years, owing to factors such as shrink crude oil reserves and issues concerning distress of the environment. The governments of numerous major countries have made positive adoption of hybrid vehicles that use the electric battery. Several national organizations have issued directives and offer attractive discounts on the purchase of hybrid cars. Major environmental regulations and policies in the EU (European Union) countries have encouraged broad acceptance of the battery-powered vehicle. The erratic crude oil prices are an added incentive that is expected to reinforce customers to adapt such cells during the forecast period.
Today, with the rising concerns raised over the environmental impact of conventional vehicles, governments around the world are encouraging the adoption of vehicles using alternative sources of fuel. EVs are zero-emission vehicles and are securing significance for clean public transport across countries. Several national governments offer financial incentives, such as tax exemptions and rebates, subsidies, reduced parking/toll fees for EVs, and free charging, to encourage the adoption of EVs. Thus, globally the requirement of EV battery is attaining fast pace.
Market Trends
Key Benefits of the Report
Hybrid EV Battery Market Report Highlights
Aspects | Details |
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By Battery Type |
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By Vehicle type |
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By Propulsion |
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By Method |
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By Region |
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Key Market Players | A123 Systems LLC,, Automotive Energy Supply Corporation (AESC),, Bosch Mobility Solutions, BYD Co., Ltd.,, Contemporary Amperex Technology Co., Limited,, E-One Moli Energy Corporation,, Hitachi Automotive Systems Ltd.,, Johnson Controls, Inc.,, LG Chem, Samsung SDI Co., Ltd,, Tesla Motors, Inc.,, Tianneng Power International Co., Ltd, Wanxiang America Corporation |
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