Battery packs are designed to use as a fuel source for electric vehicles. Increasing research and development, and recent advancements in electric vehicles is supporting growth of the global electric vehicle battery pack market. Limited availability of natural resources such as petrol, diesel and gas is another factor influencing growth of the electric vehicles market, this in turn is expected to support growth of the global electric vehicle battery pack market.
The global electric vehicle battery pack market was valued at US$ 61,720.2 million in 2017, and is expected to register a CAGR of over 13%. The first five-year cumulative global revenue (2017–2021) is expected to be US$ 417,629.7 Mn, as compared to a substantially higher cumulative global revenue total of US$ 870,172.6 Mn for the latter part of the forecast period (2022–2026).
There are various types of battery pack used in electric vehicles, among these lithium–ion battery is most commonly used battery pack, owing to its characteristics such as ability to output high energy and power per unit of battery mass, and to manage more charge/discharge cycles than other type of batteries.
Increasing environmental pollution due to excess carbon dioxide emissions and increasing government support to develop electric vehicles across the globe are key factors driving growth of the global electric vehicle battery pack market.
However, low efficiency of battery and long charging time are key factors hampering growth of the target market. In addition, high cost associated research and development activity is another factor limiting growth of the global electric vehicle battery packs market.
The global electric vehicle battery pack market report has been segmented on the basis of battery type, application, and region. On the basis of battery type, the global market is segmented into lithium–ion battery, NI–MH battery, and others.
On the basis of type segmentation, lithium ion battery segment is expected to contribute major revenue share and expected to maintain its dominance over the forecast period. Also, lithium ion battery segment expected to witness highest CAGR of over 16%.
Among the application segments, plug-in hybrid electric vehicle (PHEVs) segment contributed highest market share in terms of value and is expected to register highest CAGR of over 17%.
On the basis of region, the global electric vehicle battery pack market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Asia Pacific market is expected to dominate the global electric vehicle battery pack market, and it accounts for largest market revenue over US$ 28,000 million in 2017, owing to presence of leading electric vehicle battery pack manufacturers and low investment and labor wages in the region. The Europe market accounted for second–highest revenue share, followed by markets in North America, South America and Middle East & Africa. Moreover, Asia Pacific market is projected to witness highest CAGR over the forecast period.
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Prominent players in the global electric vehicle battery pack market include BYD Company Limited, Panasonic Corp., Contemporary Amperex Technology Co., Ltd., OptimumNano Energy Co., Ltd., LG Chem Ltd., Guoxuan High-Tech Co., Ltd., Tianjin Li Shen Battery Co., Ltd., Automotive Energy Supply Corporation, SAMSUNG SDI CO., LTD., Lithium Energy Japan, Primearth EV Energy Co., Ltd., BAK Group, Wanxiang Group, Hitachi Vehicle Energy, Ltd., Deutsche Accumotive GmbH & Co. KG., and Daimler AG.
Table Of Content:
1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
2.0 Chapter 2
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Type
- 2.2.2 Market Snapshot, By Application
- 2.2.3 Market Snapshot, By Region
3.0 Chapter 3
- 3.1 Global Electric Vehicle Battery Pack Market Dynamics
- 3.1.1 Drivers
- 3.1.2 Restraints
- 3.1.3 Opportunities
- 3.1.4 Trends
- 3.1.5 PEST Analysis
- 3.1.6 PORTER’S Five Forces Analysis
4.0 Chapter 4
- 4.0.1 Global Electric Vehicle Battery Pack Market Analysis, by Type
- 4.0.2 Overview
- 4.0.3 Segment Trends