Electric Vehicle Battery Market to Soar at a CAGR of 21.1% till 2026; Growing Ne

Posted by Rushikesh Pise on March 27th, 2020

The global electric vehicle battery market size report incorporates actionable research that is aimed at enabling businesses to formulate strategies best suited to the requirements of the market. This is achieved by providing a comprehensive overview of the industry as well as an exhaustive analysis of the various factors, trends, future prospects, and competitive and regional dynamics that will influence the market during the forecast period.

The demand for electric vehicle batteries is driven by the growing to reduce dependence on non-renewable energy sources. Electric vehicles are expected to play a central role in the global commitment towards attaining sustainable development goals set by the United Nations. This skyrocketing demand and production is further underpinned by the rising concerns regarding rampant pollution and unchecked carbon emissions that are exacerbating the effects of global warming and climate change. With the increasing demand for electric vehicles, the demand for their batteries is expected to rise in tandem, expanding the Electric Vehicle Battery Market size in the process.

According to the Fortune Business Insights report, titled “Global Electric Vehicle Battery Market Size, Share & Industry Analysis, By Type (Lead Acid Battery, Nickel-Metal Hydride Battery, Lithium-Ion Battery, Others), By Vehicle Type (PHEV, BEV, HEV), and Regional Forecasts, 2019-2026”, the volume of the market stood at 8.6 million units in 2018.

List of the Best Players Operating in the global electric vehicle battery market are:

  • BYD Company Ltd.
  • GS Yuasa International Ltd.
  • LG Chem
  • Tesla Inc.
  • Toshiba Corporation
  • Johnson Controls International Plc.
  • Hitachi Chemical Co., Ltd.

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Rushikesh Pise

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Rushikesh Pise
Joined: November 4th, 2019
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