According to Data Bridge Market Research new Market report, global electric vehicles battery market will account to an estimated USD 27.68 billion in 2018 growing at a CAGR of 16.88% during the forecast period of 2019 to 2026.
Access Full Report at https://databridgemarketresearch.com/reports/global-electric-vehicles-battery-market/
Electric vehicles battery which is also known as traction battery is used to give power to the electric vehicles and is usually rechargeable in nature. Motorcycles, bicycles, scooters, skateboards, rail cars, watercraft, forklifts, buses, trucks, and cars usually use these batteries. Lead acid batteries, nickel metal hydride batteries and lithium ion batteries are the batteries which are usually used in the electric vehicles. The main aim of the battery is to start the engine; once it gets started the electrical system is supplied by the alternator.
Global electric vehicles market is segmented on the basis of vehicles, battery type and geography.
By Vehicles (BEV, PHEV, HEV), Battery Type (Lead Acid Battery, Nickel Metal Hydride Battery, Lithium-Ion Battery), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
FACTORS DRIVING GROWTH IN ELECTRIC VEHICLE MARKET
Increase in the Electric Vehicles
As of December 2018, China has the largest light duty plug- in electric vehicle market with 2243.8 sales, Europe with 1352, United States with 1126, California with 537.2 and Norway with 296.2. Netherland has the lowest sales with 145.9.
As per study, Norway with 39.2% has the largest electric vehicle market share, followed by Sweden with 6.3%, then China with 2.2%, UK and France with 1.7%, Germany with 1.6%, United States with 1.2% and Japan with 1.0%.
Few of the major competitors currently working in the electric vehicles battery market are Panasonic Corporation; MITSUBISHI MOTORS CORPORATION; Beijing Pride New Energy Battery Technology Co., Ltd.; Automotive Energy Supply Corporation; BYD Company Ltd.; LG Chem; Daimler AG; Robert Bosch GmbH; SAMSUNG SDI CO.,LTD.; Tianneng Power International Co., Ltd.; Johnson Controls; GS Yuasa International Ltd. and Hitachi, Ltd.
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