One of the key factors driving the growth of the EV Li-ion battery market is the declining EV battery prices. The manufacturing cost of EVs is almost double compared with conventional vehicles. A significant portion of the expenses incurred is associated with the battery and electronics. However, EV costs are expected to decline significantly as the manufacturing cost of batteries is decreasing. The cost of battery packs has fallen in the past years as the scale of production has increased tremendously. This can be attributed to the development of cost-effective production methods by vendors.
The growing need for environment-friendly vehicles is identified as one of the key emerging trends in the global EV Li-ion battery market. Advanced vehicle technologies and alternative fuels can power green vehicles. They include PHEVs, HEVs, BEVs, hydrogen and fuel cell vehicles, natural gas vehicles, and ethanol vehicles. Some vehicles use blends of biodiesel and ethanol fuel or gasohol. EVs have been gaining high traction in recent years because of the growing need for environment-friendly vehicles. An EV requires a sizeable battery pack to store energy. Typically, EVs are loaded with a 16-30 kWh battery. The use of EVs decreases the dependency on fossil fuel energy sources, such as petroleum or diesel. The emissions from EVs are extremely low, which is a major differentiating factor from traditional automotive vehicles. Harmful emissions pollute the environment and cause severe smog, which leads to health problems. EVs have almost zero emissions. EVs can be changed using renewable energy sources, such as photovoltaic cells. The world is becoming aware of the growing concerns over climate changes. People are switching to the use of alternatives to keep the environment safe. Such factors will drive the global EV Li-ion battery market, which is projected to grow at a CAGR of nearly 22% during the forecast period.
Top EV Li-ion battery companies covered in this market research report
The EV Li-ion battery market is fairly fragmented with multiple players occupying the market share. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this EV Li-ion battery industry analysis report is designed to aid clients to identify new growth opportunities and make informed business decisions.
The report offers a complete analysis of various companies including:
Automotive Energy Supply Corporation
GS Yuasa International
EV Li-ion battery market segmentation based on geographic regions
The APAC region will account for the highest incremental growth of this market throughout the forecast period. The region will also account for the largest market share throughout 2022, followed by the Americas and EMEA, respectively.
EV Li-ion battery market segmentation based on applications
The BEV segment will account for the maximum EV Li-ion battery market share until 2022. The dominance of BEVs is mainly because of their total cost of ownership that mimics that of traditional internal combustible engine (ICE) vehicles. Additionally, the report will also provide an accurate prediction of the contribution of the various application segments to the growth of the EV Li-ion battery market size.
Key highlights of the global EV Li-ion battery market for the forecast years 2018-2022:
CAGR of the market during the forecast period 2018-2022
Detailed information on factors that will accelerate the growth of the EV Li-ion battery market during the next five years
Precise estimation of the global EV Li-ion battery market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
Growth of the EV Li-ion battery industry across the Americas, APAC, and EMEA
A thorough analysis of the market’s competitive landscape and detailed information on several vendors
Comprehensive details on the factors that will challenge the growth of the EV Li-ion battery companies
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