Global Electric Vehicle Battery Market to 2027

Global Electric Vehicle Battery Market to 2027

Global Electric Vehicle Battery Market Size, Trends & Growth Opportunity, By Battery Type (Lithium-Ion, Lead-Acid, Nickel Metal Hydride, Sodium-Ion, and Others), By Vehicle Type (Passenger Vehicles, and Commercial Vehicles), By Propulsion (Battery Electric Vehicle, and Plug-In Hybrid Electric Vehicle), By Region and Forecast till 2027

Global Electric Vehicle Battery Market

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.

Market Drivers

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.

Market Restraints

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.

Market Segmentation

The Global Electric Vehicle Battery Market is segmented into battery type such as Lithium-Ion, Lead-Acid, Nickel Metal Hydride, Sodium-Ion, and Others, by vehicle type such as Passenger Vehicles, and Commercial Vehicles. Further, market is segmented into propulsion Battery Electric Vehicle, and Plug-In Hybrid Electric Vehicle.

Also, the Global Electric Vehicle Battery Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

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.

Market Taxonomy

By Battery Type

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

• Passenger Vehicles
• Commercial Vehicles

• Battery Electric Vehicle
• Plug-In Hybrid Electric Vehicle

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

• What are the Key Opportunities in Global Electric Vehicle Battery Market?
• What will be the growth rate from 2019 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?