According to the latest report by IMARC Group, titled “China Electric Vehicle Battery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The China electric vehicle battery market is expected to exhibit a CAGR of 25.4% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Industry Definition and Application:
An electric vehicle battery is a secondary rechargeable power source used in electric vehicles (EVs). The vehicle is operated by the chemical energy stored in the rechargeable battery packs and does not require a combustion engine for propulsion. EV batteries are also known as traction batteries as they provide the motive power for the vehicle. They are connected to an electric motor to drive the wheels, which instantly feeds power to the motor when the accelerator pedal is pressed. Besides this, EV batteries are an eco-friendly alternative to fuel such as petrol and diesel and offer low maintenance costs, a high power-to-weight ratio, zero carbon emissions, noise-free travel experience.
Request Free Sample Report: https://www.imarcgroup.com/china-electric-vehicle-battery-market/requestsample
China Electric Vehicle Battery Market Trends:
The market is primarily driven by the increasing demand for electric vehicles due to the rising levels of vehicular emissions across the country. Besides this, the improvement in battery technology and the launch of new plug-in EV models are propelling the market growth. In addition, with the growing environmental concerns, the Government of China is taking initiatives to encourage the use of electric vehicles. These vehicles offer various advantages, including tax exemption and rebates, subsidies, reduction in parking and toll fees, as well as free charging. Moreover, the adoption of lithium-ion batteries to power plug-in hybrid electric vehicles is also escalating the market growth across the country. Furthermore, the increasing investments in upgrading public charging infrastructure and the continuous replacement of conventional fuel-based public transport fleets are creating a positive outlook for the market.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Battery Type:
- Lead Acid Battery
- Lithium-Ion Battery
- Others
Breakup by Vehicle Type:
- Battery Electric Vehicles (BEV)
- Plug-in Hybrid Electric Vehicles (PHEV)
- Hybrid Electric Vehicles (HEV)
Breakup by Battery Capacity:
- <30 kWh
- 30-60 kWh
- >60 kWh
Competitive Landscape with Key Player:
- BMZ Group
- BYD Company Limited
- Contemporary Amperex Technology Co., Limited. (CATL)
- GS Yuasa International Ltd
- Lishen Battery
- Microvast
- OptimumNano Energy Co.,Ltd
- Panasonic Corporation
- Samsung SDI Co., Ltd
- Showa Denko Materials Co., Ltd.
Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/china-electric-vehicle-battery-market
Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
IMARC Group
Email: sales@imarcgroup.com
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Address: 134 N 4th St. Brooklyn, NY 11249, USA
Follow us on Twitter: @imarcglobal
