About Electric Vehicle Battery
An electric-vehicle battery, also known as traction batteries, is a battery used to power the electric motors of a battery or hybrid electric vehicle. These batteries are generally rechargeable (secondary) batteries and are especially lithium-ion batteries. The most common battery type in electric vehicles is lithium-ion and lithium-polymer, because of their high energy density compared to vehicle weight.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Panasonic Corporation (Japan), BYD Company Limited (China), LG Chem (South Korea), Tesla (United States), GS Yuasa International Ltd. (Japan), Samsung SDI Co., Ltd. (South Korea), Hitachi Automotive Systems Americas, Inc. (United States), Amperex Technology Limited (China), Envision AESC Group Ltd. (China) and Mitsubishi Electric Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Wanxiang Automotive Components, LLC (China).
Segmentation Overview
AMA Research has segmented the market of Global Electric Vehicle Battery market by Type (Lead acid batteries, Nickel metal hydride batteries, Zebra batteries and Lithium ion batteries), Application (BEV (Battery Electric Vehicle), HEV (Hybrid Electric Vehicle), PHEV (Plug-in Hybrid Electric Vehicle) and FCEV (Fuel Cell Electric Vehicle)) and Region.
On the basis of geography, the market of Electric Vehicle Battery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Assembling Method, the sub-segment i.e. Wire Bonded will boost the Electric Vehicle Battery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Direct will boost the Electric Vehicle Battery market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Government Support for Electric Vehicles to Create Environment-Friendly Decisions
Market Growth Drivers:
Launch of New Electric Vehicle Plug-in Models by Leading Manufacturers and Rising Demand for Electric Vehicles Due to Demand for Less Emission
Challenges:
Lack of Charging Infrastructure and Low Material Supply of Raw Material
Restraints:
High Costs Involved in Manufacturing the Batteries causing Public Disinterest and Concerns over battery Working and Safety
Opportunities:
Huge Market for Electric Autonomous Vehicle and Development of BAAS (Battery as A Service) Market
Market Leaders and their expansionary development strategies
In 2020, Hitachi Automotive Systems, Ltd., a wholly-owned subsidiary of Hitachi, Ltd. today announced that the company completed the acquisition of all shares of Seneos GmbH. This acquisition will help Hitachi for automotive software growth and expansion in Europe.
In 2021, Mitsubishi Chemical will increase the global production capacity of electric vehicle batteries liquid by about 50%. This decision was taken as governments around the globe are clearing out gasoline/ petrol engine vehicles.
Key Target Audience
Electric Vehicle battery Manufacturer, Trader/ Supplier /Distributor, Electric Vehicle Manufacturers, Potential Investors, Research Institutes, Government Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.