The Electric vehicle battery is defined as battery used to power the electric motors of a battery electric vehicle or hybrid electric vehicle. Electric vehicle battery also referred as traction battery. These are usually rechargeable batteries are typically lithium-ion batteries. The electric vehicle batteries are designed for a high ampere-hour capacity.

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The increase in emphasis of leading automakers, including General Motors, Motors, and Bayerische Motoren Werke AG on rolling out electric vehicles is anticipated to boost the global electric vehicle battery market growth. Furthermore, the growing consumer interest, policy incentives, and improved battery technology to reduce carbon footprint will positively influence the market growth. Also, the rise in the driving range per recharge and reducing the cost of electric vehicles is expected to fuel the global electric vehicle battery market growth during this forecast period. Moreover, the rise in automotive production in Japan, China, Germany, Mexico, Malaysia, South Korea, and Taiwan among other countries, expected to propel the growth of the electric vehicle battery market across the globe. 

Lack of charging infrastructure is a major restraint which expected to hamper the global electric vehicle battery market growth. Also, the cost of installation is high and cost efficiency for consumers to charge their vehicles is not at the required level which anticipated to hindering the market growth.

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Global Electric Vehicle Battery Market Segmentation

Market Key Players

Various key players are discussed in this report such as NEC Corporation, Hitachi, Sony, TCL Corporation, Panasonic Corporation, Duracell, NorthStar, Crown Battery Manufacturing, GS Yuasa Corp, C&D Technologies, Inc., etc.

By Battery Type

  • Lithium-Ion
  • Lead-Acid
  • Nickel Metal Hydride
  • Sodium-Ion
  • Others

By Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles

By Propulsion

  • Battery Electric Vehicle
  • Plug-In Hybrid Electric Vehicle

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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Contact Information:

Vishal Thakur
Research Support Specialist
QualiKet Research
6060 N Central Expy #500, TX 75204, U.S.A
Email: sales@qualiketresearch.com
Website: https://qualiketresearch.com