Traction Battery Market to Witness Significant Rise In Revenue

An electric-vehicle battery (EVB) or traction battery is a battery used to power the propulsion of battery electric vehicles (BEVs). Vehicle batteries are usually a secondary (rechargeable) battery. Traction batteries are used in forklifts, electric golf carts, riding floor scrubbers, electric motorcycles, electric cars, trucks, vans, and other electric vehicles.

Improving Infrastructure Driving Electric Vehicle Thermal Management System Market

The global electric vehicle thermal management system market is estimated to witness 9% CAGR during the forecast period. The improving electric vehicle infrastructure in countries such as China, Germany, South Korea, the US, and Japan, increasing production and sales of electric cars globally, growing demand for thermal cooling solution within the vehicles, stringent emission and fuel efficiency regulations, and the growing demand for energy-efficient battery-powered devices are the key factors driving this market.

Electric Vehicle Battery Pack Market Supercharged

The study on Electric Vehicle Battery Pack market, 2019 contains an inception on new trends that can assist the businesses implementing in the Electric Vehicle Battery Pack industry to comprehend the market and make the policies for their business evolution accordingly. The Global Electric Vehicle Battery Pack Market was assessed at $61.7 billion In 2017, and growing at a CAGR of 13.00% during the forecast period 2019-2028

Electric Vehicles Battery Market 2018 – Global Market Size, Industry Share, Market Trends, Growth and Forecast to 2026

According to a new market research report published by Credence Research “Electric Vehicles Battery Market (Vehicle Type – Battery Electric Vehicle, Hybrid Electric Vehicle and Plug-in Hybrid Electric Vehicle; Battery Type – Lead Acid Battery, Nickel Metal Hydride Battery and Lithium ion Battery ; Sales Channel – Original Equipment Manufacturers (OEMs) and Aftermarket; Application – Passenger Car, Commercial vehicle  and Two Wheeler) Market – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global electric vehicle battery market was valued at US$ 2.24 Bn in 2017 and will be growing at a CAGR of 20.2% during the forecast period from 2018 to 2026.

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Market Insights

The electric vehicle battery market was valued at US$ 2.24 Bn in 2017 and expected to grow at a compounded annual growth rate (CAGR) of 20.2% during the forecast period from 2018 to 2026. Electric vehicles have witnessed a very high adoption in recent years on account of various factors such as government support through taxes and incentives coupled with regulations on emissions. This growth can be understood from the fact that in 2017, for the first time, global sales of new electric vehicles passed a million units.