GLOBAL ELECTRIC VEHICLE BATTERY MARKET GROWTH IS EXPECTED TO INCREASE WITH A CAGR OF 20.68% DURING THE FORECAST PERIOD

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Mourya
The report "GLOBAL ELECTRIC VEHICLE BATTERY MARKET”: Segmentation By Type (Battery Electric Vehicles(Bevs), Plug-In Hybrid Electric Vehicles(PHEVs) And Hybrid Electric Vehicles(Hevs)); By Application(Cars, Buses, Forklifts And Others)&By Geography (Asia Pacific, North America, Europe, Middle East And Africa, South America) - Forecast (USD billion) And Estimation 2018-2024”. The Global electric vehicle battery market size is expected to reach $XX Billion by 2024 at a CAGR of 20.68%.The electric vehicle battery is a key component that controls the performance of the electric vehicles and accounts for a dominating share of the cost of the vehicle. BEVs are currently becoming very popular as these are zero emission vehicles and are mostly preferred by the governments. various governments in the emerging economies across the world support the sales of BEVs with the subsidies and tax rebates. It is estimated that reducing charging time, continuously improving infrastructure and existing government support would help and make the BEV segment register highest market growth rate in electric battery market forecast. BEVs are mostly preferred vehicles in China in 2016. Download a free sample report @ https://www.envisioninteligence.com/industry-report/electric-vehicle-battery-market/ As per the Electric vehicle battery market analysis, increasing concerns related to decreasing oil and gas resources and degrading environmental conditions are having an impact on the demand for electric powered vehicles. Moreover, incentives on the usage of such vehicles is another factor driving the market for electric powered vehicles. Battery electric vehicle includes scooters, bicycle, and some others. the advantages in battery storage have also positively affected the electric vehicle battery market. By region, Electric vehicle battery system market has been segmented into North America, Asia-Pacific, the Middle East and Africa, and Europe. Electric vehicle battery market share is registered largest in the Asia Pacific due to the increasing concerns related to energy security and incentives on use of battery-powered vehicles.The government incentives on the usage of battery-powered vehicles and availability of strong charging infrastructure. are the main reasons behind the growth of North American and European electric vehicle battery market. The Prominent players in the Electric vehicle battery system market are Nissan Motor Corporation (Japan),Tesla Motors Inc. (U.S.), BYD Co. Limited (China), Samsung SDI (South Korea), LG Chem Ltd. (South Korea), Panasonic Corporation (Japan), ChargePoint (U.S.) and Some Others.