A recent market intelligence report that is published by Data Insights Partner on the global Electric Vehicle Traction Batteries Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Electric Vehicle Traction Batteries Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Electric Vehicle Traction Batteries Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Electric Vehicle Traction Batteries Market is offered. In accordance with the report, the global Electric Vehicle Traction Batteries Market is projected to expand by healthy CAGR of 16.71% over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Electric Vehicle Traction Batteries, by definition, refers to chargeable batteries used in powering the electric motors of the electric vehicles and hybrid electric vehicles. These batteries are mainly Li-Ion based and famous for their high power-to-weight ratio, energy density and specific energy. The smaller and lighter batteries are more desirable as it reduces the weights of the vehicles and thus improves the performance of the vehicles.
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The growing usage of electric vehicles instead of fuel-based vehicles for transportation purposes is the main driver behind the rapid growth of Electric Vehicle Traction Batteries Market. The rising need of electric vehicles to reduce pollution, global warming and rapid fuel wastage is pushing the market growth rate of electric batteries really high.
Beside this, the rapid urbanization, growing population, rising per capita income are also some of the key players behind the rapid growth of the Electric Vehicle Traction Batteries Market.
Aside from these, the government incentives and subsidies to promote electric vehicles and related markets and the rising foreign investments in the Electric Vehicle Traction Batteries sector are also adding fuel to this increasing market growth.
The regular introduction of different and brand-new types of Electric Vehicle Traction Batteries with better technologies, qualities, more battery hours and power in different sizes and price range to satisfy the varying tastes of the customers is also attracting new consumers and thus helping the growth rate of Electric Vehicle Traction Batteries Market to rise high. The convenience and efficiency of Electric Vehicle Traction Batteries is also helping in the expansion of the said market.
The Electric Vehicle Traction Batteries Market has a huge potential. Though it is expanding very fast day by day, many things are preventing it from using its full potential. Some of these restraints are–
High prices of the raw materials, high installation, maintenance and repairing costs, high cost of R&D activities and high tariffs and import costs resulting into high cost of the premium quality end products.
Lack of awareness about the availability and benefits of the Electric Vehicle Traction Batteries in the developing countries.
Availability of substitutes at lower prices.
The Electric Vehicle Traction Batteries Sector is expected have huge opportunities as the commercial sector is expanding rapidly due to its rapid usage in transportation industries such as in e-bikes, e-rickshaws, e-bus and golfcarts.
During the forecast period, North America followed by Asia Pacific and Europe are expected to have the largest share of Electric Vehicle Traction Batteries Market. The demand for these products in the North American region is driven by its expanding technological usage in various sectors and growing concerns regarding environmental damages, growing population and rising disposable income among individuals. It is also believed that on the basis of product type, the Li-Ion Batteries segments will face the highest growth rate for its relatively low costs, high charging efficiency and energy density, rapid adoption in E-bikes, efficiency and convenience.
This market intelligence report on the global Electric Vehicle Traction Batteries Market encompasses market segments based on product type, capacity, vehicle type, application, end usage, distributional channel and country.
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By Product Type the global Electric Vehicle Traction Batteries Market has been divided into:
q Lead Acid
q Nickel Based
By Capacity the global Electric Vehicle Traction Batteries Market has been divided into:
q 0-20 kWh
q 21-60 kWh
q 61-90 kWh
q Above 90 kWh
By Vehicle Type the global Electric Vehicle Traction Batteries Market has been divided into:
By Application the global Electric Vehicle Traction Batteries Market has been divided into:
q Electric Vehicles
q Riding Floor Scrubbers
By country/region, the global Electric Vehicle Traction Batteries Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q Amara Raja
q BAE Batterien GmbH
q Banner Batterien
q BYD Company Ltd.
q Camel Group
q C&D Technologies Inc.
q Chaowei Power Holdings Limited
q Coslight Technology International Group Ltd.
q Exide Industries
q First National Battery
q GS Yuasa Corporation
q Haze Batteries Europe Ltd.
q Hitachi Group
q Johnson Controls Inc.
q Leoch International Technology Limited
q LG Chem, Ltd.
q Midac S.P.A.
q NorthStar Battery Company LLC
q Panasonic Corporation
q Sebang Global Battery
q Systems Sunlight S.A.
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Electric Vehicle Traction Batteries Market related investment & spending and developments by major players of the market are tracked in this global report.
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
In 2020, one of the largest automotive solutions manufacturing and providing companies in the world, Panasonic has announced to team up with Toyota to provide the new Li-Ion based batteries for the Toyota Electric Vehicles and other partners of Toyota EV Technologies.
LG Chem, Ltd.
In June, 2020, the LG Chem has joined hands with Hyundai Motor Group to launch the new Li-Ion based EV batteries in Indonesia. The company has also decided to separate the EV battery manufacturing unit from the chemical and industrial electric battery manufacturing unit and open up another business stream as the EV battery markets starts expanding with growing EV and HEV markets. The company has also renewed their deals with Tesla Electronics and General Motors Co. to provide them with the electric batteries in recent years.
India’s largest vehicle parts and solutions manufacturing company Exide Industries has announced their partnership with Leclanché to launch their new Li-Ion based electric batteries and energy storage solution to further empower the electric vehicles market in June, 2018.
Ø This study offers comprehensive yet detailed analysis of the Electric Vehicle Traction Batteries Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Electric Vehicle Traction Batteries Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of different type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Electric Vehicle Traction Batteries caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Electric Vehicle Traction Batteries Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
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v Identification of key factors driving investment opportunities in the Electric Vehicle Traction Batteries Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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