DUBLIN--(BUSINESS WIRE)--The "Electric Vehicle Batteries Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global electric vehicle batteries market.
The global electric vehicles batteries market is expected to decline from $23.17 billion in 2019 to $22.24 billion in 2020 at a compound annual growth rate (CAGR) of -6.17%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $35.36 billion in 2023 at CAGR of 16.71%.
This report focuses on electric vehicle batteries market which is experiencing strong growth. The report gives a guide to the electric vehicle batteries market which will be shaping and changing our lives over the next ten years and beyond, including the market's response to the challenge of the global pandemic.
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The electric vehicles batteries market consists of sales of electric vehicles batteries. Electric vehicles batteries are used to power the electronic vehicles and are rechargeable in nature. These batteries support the clean energy initiative as they don't emit any harmful gases which causes damage to the environment.
The charging of Electric vehicle batteries using Vehicle to grid technology is expected to gain traction in EV batteries Market. Vehicle to grid technology is a Bi-directional charging system technology in which plug-in electric vehicles like battery electric vehicles (BEV), plug-in hybrids (PHEV) or hydrogen fuel cell electric vehicles (FCEV) batteries' can communicate with the power grid for either returning electricity to the grid, to homes during the peak times or increase their charging rate to discharge and charge the battery accordingly. The new vehicle released by the Nissan along with ENEL X the Nissan leaf in October 2017 in Japan for the model year 2018 uses Vehicle to grid Technology which can be used to power the home during times of need or push back energy to the grid that is to sell the electricity to the gird. Thus, Vehicle to grid technology is anticipated to be a major trend in the electric battery market.
The extraction of raw materials like lithium cobalt used in the electric vehicle battery has a harmful effect on the environment and governments impose restriction on mining the raw materials, hindering the growth of the market. The extraction process of one ton of lithium requires 50,000 gallons of water. Lithium mining has resulted in consumption of 65% water of the Salar de Atacama region, Chile, which has led to water shortages in Chile, South America along with severe toxic spills. As the demand upsurges, the mining activity also rises with increasing damage to the environment and will force the governments to enforce stringent regulation to curb the negative effects which would increase the production cost. Therefore, the harmful effect of electric vehicle batteries on the environment is expected to be a hindrance to the electric vehicle battery market over the coming years.
Key Topics Covered:
1. Executive Summary
2. Electric Vehicle Batteries Market Characteristics
3. Electric Vehicle Batteries Market Size And Growth
3.1. Global Electric Vehicle Batteries Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Electric Vehicle Batteries Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Electric Vehicle Batteries Market Segmentation
4.1. Global Electric Vehicle Batteries Market, Segmentation By Battery Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Electric Vehicle Batteries Market, Segmentation By Vehicle Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Electric Vehicle Batteries Market Regional And Country Analysis
5.1. Global Electric Vehicle Batteries Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Electric Vehicle Batteries Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Panasonic Corporation
- Mitsubishi Motors Corporation
- Beijing Pride New Energy Battery Technology Co., Ltd
- Automotive Energy Supply Corporation
- BYD Company Ltd
- Daimler AG
- Robert Bosch GmbH
- SAMSUNG SDI CO
- Tianneng Power International Co., Ltd
- Johnson Controls
- GS Yuasa International Ltd
- Hitachi, Ltd
For more information about this report visit https://www.researchandmarkets.com/r/i063ix