Business Strategies for the Electric Vehicle Battery Market,

Business Strategies for the Electric Vehicle Battery Market,


According to a recent report by Allied Market Research titled Electric vehicle battery market By Powertrain Type, Battery Type, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2017-2025, the global Electric Vehicle Battery Market was valued at US$23 billion in 2017 and is projected to reach US$84 billion by 2025, growing at a CAGR of 17 .2% from 2018 to 2025.

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An electric vehicle battery is a secondary (rechargeable) battery used to power electric vehicles. Also known as a traction battery, it uses chemical energy stored in rechargeable battery packs for propulsion and therefore does not require an internal combustion engine for propulsion.

Currently, Asia-Pacific dominates the global EV battery market. An increase in vehicle population and rise in vehicle standards are fueling the growth of the Asia-Pacific EV market. In addition, various technological advances in electric vehicles have been made as a result of government initiatives, further driving growth. China’s Ministry of Industry and Information Technology (MIIT) launched a pilot electric vehicle battery recycling program in the Beijing Hebei Tianjin metropolitan area, the Yangtze River, the Pearl Delta and central China areas to curb pollution, according to the Economics Times on March 5, 2018.
In the powertrain segment, hybrid electric vehicles dominated the market in 2017 due to the volume production of hybrid electric vehicles.

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Key Outcomes of Electric Vehicle Battery Market:

In 2017, the hybrid electric vehicle sub-segment achieved the highest revenue in the global electric vehicle battery market.
In 2017, the passenger car segment achieved the highest revenue among the other vehicle types in the global electric vehicle battery…


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