EV Battery Market Scenario
Improvement in battery technology and government policies & regulations are some of the major factors propelling the EV battery market globally. Furthermore, increasing demand for electric vehicles is also one of the factor augmenting the growth of EV battery market. However, concerns over battery safety is one of the major factor expected to hamper the global growth of the EV battery market.
EV Battery Market Segmentation
The EV Battery market is segmented by battery type, battery capacity, propulsion, method and geography. Various battery type used in manufacturing of EV battery are lithium-ion, lead-acid, nickel-metal hydride, solid-state and others. Furthermore, the battery capacity comprises of <50 Kwh, 50-110 Kwh, 111-200 Kwh, 201-300 Kwh and >300 Kwh. The propulsion segment includes Battery Electric Vehicles (Bevs), Hybrid Electric Vehicles (Hevs), Plug-Hybrid Electric Vehicles (Phevs) and Fuel Cell Electric Vehicles (Fcevs). Likewise, the method includes wire bonding and laser bonding. Based on Geography, the EV battery Market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW.
EV Battery Market by Geography
Geographically, the EV Battery market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW. Among all the regions, the Asia Pacific is expected to account for the largest market share. The Presence of global leaders, electrification of commercial vehicles and government subsidies to electric commercial vehicles are supporting market growth in the region.
EV Battery Market Key Players
Some of the major players operating in the global EV Battery market includes CATL, Samsung Sdi, Panasonic, Lg Chem, Byd Company Limited, Sk Innovation Co. Ltd., Vehicle Energy Japan Co. Ltd. (Under Hitachi Automotive Systems, Ltd.), Toshiba Corporation, Mitsubishi Corporation, Envision Aesc, Enersys, A123 Systems (Subsidiary Of Wanxiang Group), Gs Yuasa, Exide Industries Limited and Primearth Ev Energy Co., Ltd. These players are focusing on innovation as well as research & development in order to gain a higher share in the market to enhance their position in the market.
EV Battery Market Report Key Benefits