Global electric vehicle battery market is anticipated to showcase a lucrative CAGR during the forecast period. According to the International Energy Agency, in 2019, 2.1 million electric cars were sold globally. With technological progress in the electrification of cars, two/three-wheelers, buses, and trucks the market for EVs is significantly expanding. Batteries are the focal point of the electric vehicle market; therefore, the rising EV sales across the globe owing to its environment-friendly nature are driving the global electric vehicle battery market. The rising investment of battery manufacturers for the expansion of their production facilities to meet the growing demand for batteries is also anticipated to fuel the global market growth.
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The market is segmented on the basis of battery type, vehicle type, and propulsion technology. Based on the battery type, the market is sub-segmented into NiMH, Li-Ion, and others. Based on the battery type; the Li-ion batteries market is anticipated to exhibit considerable growth due to its light-weight characteristic. Based on vehicle type, the market is sub-segmented into commercial vehicles, passenger cars, and two-wheelers. Based on propulsion technology the market is sub-segmented into battery electric vehicles, plug-in hybrid electric vehicles. Based on the propulsion type, the battery electric vehicle segment is anticipated to have considerable market growth during the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Electric Vehicle Battery Market report Segment
By Battery Type
- NiMH
- Li-ion
- Others
By Vehicle Type
- Commercial Vehicles
- Passenger Cars
- Two-Wheelers
By Propulsion Type
- Battery Electric Vehicles
- Plug-in Hybrid Electric Vehicle
Global Electric Vehicle Battery Market report Segment
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
The Report Covers
- Comprehensive research methodology of the global electric vehicle battery market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global electric vehicle battery market.
- Insights about market determinants that are stimulating the global electric vehicle battery industry.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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