According to a recent study report published by Market Research Future (MRFR), the global Electric Vehicle Battery market is projected to grow remarkable value by 2023, registering approximately 8.81% CAGR during the forecast period (2015 – 2023). Global Electric Vehicle Battery Market By Battery Type (Lithium Ion Battery, Lead Acid Battery, Nickel Hydride Battery and others), Vehicle Technology (Battery Electric Vehicle Battery, Hybrid Electric Vehicle Battery, Plug-in Hybrid Electric Vehicle Battery and Others), End Market (OEMs and Aftermarket) and Region with Forecast To 2023.
Electric Vehicle Battery Key Players Analyzed in Report:
The well-known competitors in the automotive surround view system market are Valeo (France), Continental AG (Germany), Aisin Seiki (Japan), Fujitsu (Japan), Denso (Japan), Renesas Electronics Corporation (Japan), Texas Instruments (US), Clarion Technologies (Japan), Magna International (Canada), Xylon – logicBRICKS (Germany), Ambarella (US), Bosch Mobility Solutions (Germany) and others.
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Electric Vehicle Battery Market Highlights:
Acknowledging the increasing traction, this market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the electric vehicles battery market will accrue enormously by 2023, registering over 8% CAGR during the forecast period (2017-2023). Accelerating sales of electric vehicles and the huge uptake of these batteries over the past couple of years is key driving force behind the market growth.
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. The demand for the use of clean energy is also driving the demand for electric vehicles. Moreover, international market players are expanding into new emerging markets with a wide range of product offerings which have varying battery capacities, thus further propelling market growth.
Various government initiatives to encourage the use of electric vehicles have also been key to market growth. The governments in multiple countries are providing subsidies, giving exemption on various fees for battery operated electric vehicles, and exercising differential policies which have spurred the adoption of electric vehicles.
On the flip side, market growth can be deterred by depleting lithium resources and the high price of electric batteries.
Electric Vehicle Battery Market Regional Overview:
The regional study of the automotive surround view system market includes regions such as Europe, North America, Asia Pacific, and Rest of the World.
In 2016, the global market was led by Asia Pacific. The region is a major automotive manufacturing hub and houses major electric vehicle battery producers. Electric vehicles battery production is concentrated in China, South Korea, and Japan. The adoption level of electric vehicles in China and other similarly emerging economies has been quite rapid as these countries have massive consumer populations and high pollution levels. Government initiatives which support the adoption of electric vehicles in these countries are driving the market. The APAC market is also expected to grow at the highest CAGR during the review period.
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.
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.
Global Electric Vehicle Battery Market Segments:
The global electric vehicles battery market has been segmented in MRFR’s report based on battery type, vehicle technology, end market, and region. Battery type has been segmented into lead-acid battery, lithium ion battery, nickel hydride battery, others. The lithium io battery segment has captured the dominant share of the market and is followed by nickel hydride battery and lead-acid battery.
Vehicle technology has been segmented into hybrid electric vehicles, battery electric vehicles, plug-in electric vehicles, and others. The battery electric vehicle is the market leader in terms of market size and is followed by hybrid electric vehicles.
End-market comprises of OEM and aftermarket.
How this report is helpful to your business?
- To study and analyze the global Electric Vehicle Battery market size (value and volume) by company, key regions/countries, products and application, history data from 2014 to 2018, and forecast to 2025.
- To understand the structure of Electric Vehicle Battery market by identifying its various subsegments.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- Focuses on the key global Electric Vehicle Battery manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Electric Vehicle Battery with respect to individual growth trends, future prospects, and their contribution to the total market.
- To project the value and volume of Electric Vehicle Battery submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
Report Scope:
Global Electric Vehicle Battery Market providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out. The Global Electric Vehicle Battery market development trends and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed, and overall research conclusions offered.
Other Key questions answered in the report:
- What will the market growth rate of Electric Vehicle Battery market?
- What are the key factors driving the Global Electric Vehicle Battery market?
- Who are the key manufacturers in Electric Vehicle Battery market space?
- What are the market opportunities, market risk and market overview of the Electric Vehicle Battery market?
- What are sales, revenue, and price analysis of top manufacturers of Electric Vehicle Battery market?
- Who are the distributors, traders and dealers of Electric Vehicle Battery market?
- What are sales, revenue, and price analysis by regions of Electric Vehicle Battery industries?
Table Of Content
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 Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
List Of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 MARKET DYNAMICS
FIGURE 4 IMPACT ANALYSIS: MARKET DRIVERS
FIGURE 5 IMPACT ANALYSIS: MARKET RESTRAINTS
FIGURE 6 PORTER’S FIVE FORCES ANALYSIS
FIGURE 7 SUPPLY CHAIN ANALYSIS
Continued…
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