Electric vehicles battery market looks promising during the forecast period due to the major driving factors such surge in demand of electric vehicle worldwide, increasing fuel prices, expansion of global auto-manufacturers into new emerging markets, and government initiatives. For the purpose of this study, the global electric vehicles battery market has been divided on the basis of battery type, vehicle technology, end market and region.
The prominent players in the electric vehicles battery market include Automotive Energy Supply Corporation (Japan), Panasonic Corporation (Japan), BYD Company Limited (China), LG Chem Ltd (South Korea), Quallion (US), Boston-Power (US), Johnson Controls International (US), Narada Power Source (China), GS Yuasa Corporation (Japan), Tianneng Power International (China), Crown Battery Corporation (US), and Hitachi Chemical Company (Japan) .
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Market Highlights:
The electric vehicles battery market is expanding due to the combined efforts of the governments across the globe and the key players who are investing intensively in the research and development of technology to produce high-performance batteries. Moreover, numerous countries are advocating the use of electric vehicles owing to rising concerns for air pollution which further boosts the market for electric vehicles market. The disruptive technology of battery storage has also aided the growth of the market since it has been able to eliminate the cause of reluctance surrounding electric vehicles, i.e., charging concerns.
However, the electric vehicles battery market has a long way to go, and the market growth might be restrained due to some factors. Availability of raw materials such as cobalt and lithium are crucial to the production of batteries and decrease in such materials might restrict the growth of the electric vehicles battery market. Depleting lithium resources pose a threat to the electric vehicles battery market since lithium is one of the main elements of the battery. Complexities arising out of the manufacturing process of batteries is also a possible hindrance to the market growth. The high price of batteries is a major restraining factor. Reduction in the price of batteries and recharge might provide the market the incentive that it needs to surpass the conventional car’s market.
The report for global electric vehicles battery market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Market Segmentation:
The global electric vehicles battery market has been segmented based on battery type, vehicle technology, and end-market. By battery type, the market has been segmented into Lithium Ion Battery, Lead Acid Battery, Nickel Hydride Battery and others. The lithium-ion battery segment leads the market followed by nickel hydride battery and lead-acid battery. By vehicle technology, the market has been segmented into Battery Electric Vehicles, Hybrid Electric Vehicles, Plug-in Hybrid Electric Vehicles, and Others. The battery electric vehicles lead the market followed by hybrid electric vehicles. By end-market, the market has been segmented into OEMs and Aftermarket.
Regional Analysis:
Region wise, the global electric vehicles battery market has been segmented as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific has accounted for the largest market share, in 2016, followed by North America and Europe. In Asia Pacific, countries such as China, South Korea, Japan and India are the major markets of electric vehicles battery.
Europe and North America, are the second and third leading regions. Increasing demand for electric cars and growing awareness of ecofriendly vehicles have been the major growth drivers. Europe, has been witnessing a rise in the sales of new electric vehicles, which has augmented the demand for electric vehicles battery, here. Also, Germany, UK and France being the leading countries in Europe, have fuelled the growth of the market. Asia Pacific has registered the fastest growing economy in the global market.
Industry Updates:
In July 2018, Honda Motor and Panasonic announced a partnership to develop detachable, portable lithium-ion The companies will be supplying batteries in emerging countries where the charging infrastructure is underdeveloped.
In June 2018, German carmaker Volkswagen announced an investment of around USD 100 Mn in US-based QuantumScape to produce solid-state batteries. This new joint venture will enhance lithium-ion
In June 2018, China’s Contemporary Amperex Technology Ltd (CATL), announced the set-up of a plant for the manufacture of lithium-ion The plant would be set up in Thuringia and will supply to European manufacturers including BMW.
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Table Of Contents:
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 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
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 Value Chain Analysis
FIGURE 8 Global Electric Vehicles Battery Market SHARE, By Product, 2016 (%)
Continued…
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