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Electric Vehicle Battery Market Segment Forecasts Up to 2020

  • Date Submitted: 02/18/2016 11:13 PM
  • Flesch-Kincaid Score: 26.4 
  • Words: 410
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Growing concerns related to decreasing oil and gas resources and degrading environmental conditions are having positive impact on the demand for electric powered vehicles. Moreover, subsidies and incentives on usage of such vehicles is another factor driving the market for electric powered vehicles. These vehicles depend on electric batteries to provide the primary or the secondary power. Thus any impact on the demand for electric powered vehicles will affect the electric vehicle battery market.

An electric powered vehicle or battery electric vehicle use chemical energy stored in rechargeable battery packs for power. As all the power is derived from batteries therefore, it does not require any combustion engine for propulsion. Battery Electric vehicles include scooters, rail cars, bicycle, forklifts, buses and cars. The advantages in battery storage technology have also positively affected the electric vehicle battery market.

The segmentation of the electric vehicle battery market can be done on the basis of technology, application and geography. Technology segment deals with the different types of batteries used for manufacturing of electric vehicle battery. Major battery types include lead acid batteries, nickel metal hydride batteries, zebra batteries and lithium ion batteries. Lead acid batteries are the most common and cheapest type of batteries. Nickel metal hydride batteries have higher energy densities than the common lead acid batteries and if used properly can have exceptionally long lives. The Zebra batteries use molten chloro-aluminate sodium as electrolyte. Lithium ion batteries use graphite anode and lithium cobalt oxide anode. These batteries are use to power the Battery Electric Vehicles, Hybrid Vehicles, Plug-in Hybrid Electric Vehicles and Plug-in Electric Vehicles.

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Regional segmentation of the electric vehicle battery market includes...

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