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Global Electric Vehicle Battery Market Expected to Grow at a CAGR of More Than 19% During 2018-2025

DUBLIN, Nov. 28, 2019 /PRNewswire/ -- The "Global Electric Vehicle Battery Market, By Battery Type, By Vehicle Technology, By Vehicle Type, By Region; Size and Forecast, 2014-2025" report has been added to ResearchAndMarkets.com's offering.

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The Global Electric Vehicle Battery market is expected to grow with a CAGR over 19% during the forecast period 2018-2025, owing to increasing demand for environment-friendly vehicles.

Diseases caused by air and water pollution are epidemic among minorities. Environmental pollution causes more than three times deaths than malaria, tuberculosis, and AIDs, countries such as Indian and China records the maximum death caused by environmental pollution. Pollution causes 7% of the medical expenses among middle-income group people across the world, in addition, according to World Bank air pollution cost in India was approximately 8% of its GDP or USD 560 billion in 2013.

The increasing number of deaths in India and China are encouraging government and non-government organizations to spread awareness regarding environmental pollution and its health impacts. Due to which several governments' regulations, particularly pollution prone countries have initiated supportive policies and programs to produce and adopt electric vehicles, which is surging the demand for global electric vehicles battery market over the forecast span.

Pollution caused by coal-burning in industry, for home heating and power plants accounted for about 40% of PM2.5 exposures and lead to 366,000 deaths in 2013. Hence, rising public awareness of air quality and the burden of disease caused by air pollution is an essential step in reducing air pollution and improving public health which is accelerating market demand for electric vehicles battery market.

Competitive Dynamics

The Global Electric Vehicle Battery market is dominated by a number of players, amongst them the major players are Panasonic Corporation, Mitsubishi Electric Corporation, Samsung Electronics Co. Ltd., Johnson Controls International Plc, Toshiba Corporation, Automotive Energy Supply Corporation, LG Chem Ltd., and BYD Company Ltd.

Companies in this industry are following different strategies to strengthen their market position. For instance, In October 2018 LG Chem signed an agreement with Volkswagen Group to supply them with Electric Vehicle batteries. It will supply lithium-ion batteries to the company.

Key Battery Type Analysis

  • Lithium-ion Battery market is growing with a CAGR of 19.8%, in terms of value in 2025 due to its high-energy density, charge retention capacity, and low maintenance.
  • Lead Acid Battery market is growing with a CAGR of 18.6 %, in terms of value in 2025 due to their mature technology, high availability, and low cost.
  • Nickel Metal Hydride Battery (NiMH) market is growing with a CAGR of 18.3 %, in terms of value in 2025 due to its low-cost rechargeable features.
  • Others include rechargeable batteries like Nickel Cadmium Battery (NiCd), Zinc-air Battery and Molten Salt Batteries that are less commonly used in the electric vehicles. Others battery market segment is growing with a CAGR of 11.4% in terms of value in 2025.

Vehicle Technology Analysis

  • Battery Electric Vehicle (BEV) market is growing with a CAGR of 19.8% in terms of value in 2025. Factors such as growing demand for zero-emission vehicles, government initiatives, and improved charging infrastructure are responsible for the growth of BEVs and thus, leading to the growth of the battery market for BEVs.
  • Plug-In Hybrid Electric Vehicle (PHEV) market is growing with a CAGR of 18.7% in terms of value in 2025 owing to increased fuel efficiency.
  • Hybrid Electric Vehicle (HEV) market is growing with a CAGR of 15.3% in terms of value in 2025. Stringent emission norms, government incentives for the use of hybrid vehicles, and concern for fuel efficiency are the factors driving the Hybrid Electric Vehicle market.

Vehicle Type Analysis

  • Commercial Vehicle market is growing with a CAGR of 19.5% in terms of value in 2025. Increasing awareness of the pollution menace, government policies and mandates to restrict pollution, reduction in battery prices, and rapid adoption of electric vehicles such as buses and vans are some of the major factors driving the growth of electric commercial vehicle market.
  • The passenger Car market is growing with a CAGR of 18.5% in terms of value in 2025 due to increasing government efforts aimed at encouraging the use of electric vehicles amid alarming pollution levels, globally.
  • The two-wheeler market is growing with a CAGR of 19.1% in terms of value in 2025 due to the growing demand in developing countries like India as low-cost transportation and commuting solutions.

Regional Analysis

  • Asia Pacific dominates the global electric vehicle battery market and it is expected to grow with a CAGR of over 19%, in terms of value, during the forecast period, due to the expansion of the electric vehicle industry in the region, especially in China, Japan, and South Korea.
  • North America is anticipated to grow with a significant CAGR of 18.7% in terms of value, during the forecast period in the global electric vehicle charging station market due to increasing investments for the manufacturing for an electric vehicle.

Key Topics Covered

1. Research Framework
1.1. Market Definition and Scope
1.2. Market Segmentation

2. Research Methodology

3. Executive Summary

4. Electric Vehicle Battery Industry Insights

4.1. Industry Value Chain analysis
4.1.1. Vendor Matrix
4.2. Raw material analysis
4.2.1. Nickel
4.2.2. Manganese
4.2.3. Cobalt
4.2.4. Graphite
4.3. Pricing Analysis
4.4. An analogy of electric vehicle batteries
4.5. Industry impact and forces
4.5.1. Growth drivers Increasing demand for environment-friendly vehicles Rising concerns regarding depleting oil and gas resources Government endowments towards EV batteries and rising fuel prices
4.5.2. Industry challenges Performance of batteries at extreme weather conditions and space constraints Charging time and cost challenge
4.6. Technological Landscape
4.7. Cost Structure Analysis
4.8. Regulatory Framework
4.9. Company market share analysis, 2017
4.10. Growth potential analysis, 2017
4.11. Strategic Outlook
4.12. Porter's analysis
4.13. PESTLE analysis

5. Global Electric Vehicle Battery Market Overview
5.1. Market size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Battery Type
5.2.2. By Vehicle Technology
5.2.3. By Vehicle Type
5.2.4. By Region

6. Electric Vehicle Battery Market, By Battery Type

6.1. Key Battery Type trends
6.2. Lithium-ion Battery
6.3. Lead Acid battery
6.4. Nickel Metal Hydride Battery
6.5. Others

7. Electric Vehicle Battery Market, By Vehicle Technology
7.1. Key market trends
7.2. Battery Electric Vehicle (BEV)
7.3. Plug-In Hybrid Electric Vehicle (PHEV)
7.4. Hybrid Electric Vehicle (HEV)

8. Electric Vehicle Battery Market, By Vehicle Type
8.1. Key market trends
8.2. Commercial Vehicle
8.3. Passenger Car
8.4. Two Wheeler

9. Electric Vehicle Battery Market, By Region
9.1. Key Regional Market trends
9.2. North America
9.3. Europe
9.4. Asia Pacific
9.5. LATAM
9.6. Middle East & Africa (MEA)

10. Company Profiles
10.1. Panasonic Corporation
10.2. LG Chem Ltd.
10.3. Mitsubishi Electric Corporation
10.4. Samsung Electronics Co. Ltd.
10.5. Byd company limited
10.6. Wanxiang Group Corporation
10.7. Beijing Pride Power Battery Technology Co. Ltd.
10.8. Tianneng Power International Limited
10.9. Enersys
10.10. Hitachi Chemical Company Ltd.
10.11. Narada Power Source Co. Ltd.
10.12. Johnson Controls International PLC
10.13. Crown Battery Corporation
10.14. Toshiba Corporation
10.15. Automotive Energy Supply Corporation

For more information about this report visit https://www.researchandmarkets.com/r/ntl2jd

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