Global Electric Vehicles Battery Market 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) – Industry Trends and Forecast to 2026
Market Analysis: Global Electric Vehicles Battery Market
Global Electric Vehicles Battery Market is expected to rise to an estimated value of USD 96.40 from its initial estimated value of USD 27.68 billion in 2018, registering a CAGR of 16.88% in the forecast period of 2019-2026. This rise in market value can be attributed to the growing concerns regarding the environment resulting in adoption of eco-friendly vehicles.
Market Definition: Global Electric Vehicles Battery Market
Electric vehicles battery is the power source in electric vehicles and is used for the mobility and propulsion of vehicles. They are in comparison the entire working motor of the electric vehicles whereas in internal combustion engine vehicles, batteries are just used for ignition and initiation of the vehicles. In electric vehicles they power the vehicle over a sustained period of time rather than just the starting.
- Growing demand for low emission and electric vehicles globally is expected to positively affect the market value
- Instability of regulations on the usage of lead in batteries dependent on the regions are expected to act as a restraint to the market growth
Segmentation: Global Electric Vehicles Battery Market
- By Vehicles
- Battery Electric Vehicles
- Plug-In Hybrid Electric Vehicles
- Hybrid Electric Vehicles
- By Battery Type
- Lead Acid Battery
- Nickel Metal Hydride Battery
- Lithium-Ion Battery
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In October 2018, Daimler AG announced that they are planning to invest in the Tuscaloosa plant situated in the United States for the initiation of construction for electric vehicles battery production.
- In May 2017, SAMSUNG SDI CO.,LTD. announced that their electric vehicle battery production plant situated in Hungary has finished construction, and the operation of this plant is expected to begin from 2018.
Competitive Analysis: Global Electric Vehicles Battery Market
Global electric vehicles battery market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of electric vehicles battery market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Electric Vehicles Battery Market
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.
Research Methodology: Global Electric Vehicles Battery Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved