Global
new
energy vehicle battery market is expected to grow significantly in the
forecast period owing to high demand for passenger cars and increasing awareness
for electric vehicles. New energy vehicle battery powers the propulsion of the
electric vehicles. It is largely used in electric cars, vans, trucks, electric
golf carts, forklifts, and other automobiles. The rechargeable battery is
designed with a superior ampere-hour capacity that is classified by its
specific energy, power-to-weight ratio, and energy density. It reduces the
vehicle weight and improves overall performance. In comparison to the liquid
fuel, battery technology possesses lower specific energy, which impacts the
all-electric range of the automobiles.
The
major drivers of new energy vehicle battery market are growing demand for high
energy density batteries, high demand for lithium-ion batteries, increasing
preference for cleaner air and low-emission technologies in automobiles, and
rise in government investment in electric vehicle battery domain. However,
strict regulations for the release of lead pollution affecting the market
players, volatile raw material prices, political disturbance in developing
economies, high import taxes is hampering the growth of the market.
Additionally, low FDI in South Africa region is also restraining the market
growth.
Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/new-energy-vehicle-battery-market/request-sample
Some
of the key trends observed in new energy vehicle battery market include
reduction in the size of battery, innovations like zebra technology, and
improvements in the battery technology. Furthermore, advancements in
alternative technologies as fuel source and growing developments in battery
charging infrastructure is expected to offer opportunities to the market.
Nonetheless, limitations in specific power, specific energy, energy density,
and power density in battery technology as compared to fossil fuels is
challenging the market.
In
terms of application, new energy vehicle battery industry is bifurcated into
BEV (Battery Electric Vehicles), HEV (Hybrid Electric Vehicles), ICE (Internal
Combustion Engines), and PHEV (Plug-in Hybrid Electric Vehicles). HEV (Hybrid
Electric Vehicles) segment is expected to hold larger share of the market owing
to high adoption in the developing economies. Furthermore, BEV (Battery
Electric Vehicles) also predicted to lead the market due to increasing
awareness of fully electric drivetrain vehicles with rechargeable batteries.
View Full Report with TOC @ https://www.millioninsights.com/industry-reports/new-energy-vehicle-battery-market
Market Segment:
Geographically, this report is segmented
into several key Regions, with production, consumption, revenue (M USD), market
share and growth rate of New Energy Vehicle Battery in these regions, from 2012
to 2023 (forecast), covering
•
North America (United States, Canada and Mexico)
•
Europe (Germany, France, UK, Russia and Italy)
•
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
•
South America (Brazil, Argentina, Columbia)
•
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Global New Energy Vehicle Battery market
competition by top manufacturers, with production, price, revenue (value) and
market share for each manufacturer; the top players including
•
Panasonic
•
PEVE
•
AESC
•
LG Chem
•
BYD
•
LEJ
•
GuoXuan High-Tech
•
Samsung SDI
On the basis of product, this report
displays the production, revenue, price, market share and growth rate of each
type, primarily split into
•
Lithium Ion Battery
•
NI-MH Battery
•
Other