An electric-vehicle battery (EVB) or traction battery is a battery used to power the propulsion of battery electric vehicles (BEVs).
Market Analysis and Insights: Global Battery Systems for Electric Vehicle Market
Due to the COVID-19 pandemic, the global Battery Systems for Electric Vehicle market size is estimated to be worth US$ 42680 million in 2022 and is forecast to a readjusted size of US$ 74800 million by 2028 with a CAGR of 9.8% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Lithium-Ion Batteries accounting for % of the Battery Systems for Electric Vehicle global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Passenger Cars segment is altered to an % CAGR throughout this forecast period.
As a result of the changes in the climatic conditions worldwide and the impact of globalization, most of the countries have been notified to control their emissions it mostly include Asian Pacific countries. This is expected to increase the demand for battery electric vehicles during the forecast period. By the end of 2023, Asia Pacific will account for the majority of the market share, driven by the Environmental Protection Agency (EPA) regulations governing emission and fuel standards in the region, followed by North America. The demand for pure electric vehicles is on the rise and is expected to become a major propellant for the market. Lithium-ion batteries accounted for the highest share in the market.
Global Battery Systems for Electric Vehicle Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Battery Systems for Electric Vehicle Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Lithium-Ion Batteries
Lead-Acid Batteries
Nickel-Metal Hydride Batteries
Others
Segment by Application
Passenger Cars
Commercial Vehicles
By Company
GS Yuasa
A123 Systems
BYD
Johnson Controls
LG
Boston-Power
Electrovaya
NEC
Panasonic
Samsung SDI
Toshiba
Hitachi
Energy Storage Technology (China) Group
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina