Global Electric Vehicle Battery Market -global Industry Analysis And Forecast (2018-2026) topic posted in Future Cars Forum

Discussion in 'Future Cars' started by supriyaghuge, Nov 16, 2018.

  1. supriyaghuge

    supriyaghuge New Member

    Nov 16, 2018
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    Please login to see links and more information. is expected to fuelling US$ 84 Bn by 2026 in terms of revenue with CAGR of 18% in the forecasting period 2018-2026. Batteries have been used as secondary power sources ever since the introduction of the first automobile. An electric vehicle battery is a rechargeable battery. It uses chemical energy stored in rechargeable battery packs for power and therefore does not require any combustion engine for propulsion. Developing concerns identified with diminishing oil and gas assets and debasing natural conditions are having a positive effect on the demand for electric controlled vehicles.

    An electric fuelled vehicle or battery electric vehicle utilizes concoction energy put away in rechargeable battery packs for control. A major factor behind the growth of electric vehicles is the support provided by the various governmental agencies to encourage the sale of these vehicles. Increase in demand for high energy density market, increase in preference of people towards cleaner air, increase in government’s private equity investments in the electric vehicle industry, the rise in the demand for zero-emission vehicles, decrease in the cost of the electric vehicle battery system, and surge in demand for lithium-ion batteries. All these factors have supported the electric vehicle battery to experience an exceptional market boost. These restraints include stringent lead pollution norms that are affecting the manufacturers, high import taxes, volatile prices of raw material, political disturbance.

    Electric vehicle battery market can be segmented into propulsion type, battery type, vehicle type, voltage type, and region. On the basis of propulsion type, the battery market for Battery Electric Vehicle held the highest share and accounted for 72% share in 2017, and is also expected to grow at a faster rate as compared to Plug-in Hybrid Electric Vehicle. In terms of battery type, Lead-acid batteries are the most common and cheapest type of batteries. Nickel metal hydride batteries have higher energy densities than the common lead-acid batteries and if used properly can have exceptionally long lives. Lithium-ion batteries use graphite anode and lithium cobalt oxide anode.

    Based on vehicle type, the passenger vehicles segment is highly lucrative and is likely to lead the global market in the future. On the basis of voltage type, electric vehicle market can be classified into 12 Volt, 14 Volt, 24 Volt, and 48+ Volt. The 48+Volt segment is anticipated to increase in the forecasting year due to rise in electric vehicles strict government norms towards the vehicle pollution will anticipate to boost the demand for 48+ Volt segment in the near future.

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