Technavios analysts predict that the global market for electric car batteries will grow at a compound annual rate of 41.95% in 2017-2021 years.
The 2017-2021 year global electric car battery will increase by 41.95%
The electric vehicle battery is different from other batteries used in automobiles, such as ignition, ignition and lighting. They use different chemicals to achieve high density and high potential vehicle thrust. Most electric car batteries are lithium ion batteries, while other batteries, such as lead acid batteries, consume more space and have lower efficiency. The capacity of the battery varies according to the type of the vehicle. Electric cars can be divided into hybrid electric vehicles, pure electric vehicles and battery electric vehicles.
The market is divided into the Americas, the Asia Pacific region, Europe, the Middle East and Africa based on geography.
The report points out that the main suppliers of the global electric car battery market include Samsung Motors, Byd Co, Korea LG chemistry, Panasonic automobile and industrial systems.
The report emphasizes that the decline in the battery price of electric vehicles will drive the market to increase. The intensification of the global power crisis will become a market challenge. The future market trend is to charge faster electric cars.