Regional »  Topic »  EV Batteries Market to Surge During 2021-31

EV Batteries Market to Surge During 2021-31


As the world is leaning towards a clean technology, adoption of Electric vehicles (EV) and its battery market is rowing at an exponential rate.

Fact.MR has recently published a report stating that the global market for electric vehicle batteries exhibited robust Y-o-Y expansion of 14% in 2019, with sales being valued close to US$ 91 Bn.

According to Fact.MR’s analysis, EV batteries for passenger cars are expected to register maximum sales, accounting for more than 50% revenue in forthcoming years. This is majorly due to the widening preference for EVs globally.

Demand for stored electricity-based EV batteries is expected to gain significant traction, attributed to the fact that electric vehicles for traveling larger distances are acquiring popularity. A CAGR above 10% is projected for this segment.

“As vehicular emission regulations tighten, automobile owners are shifting towards hybrid and electric vehicles usage, prompting manufacturers to deploy batteries equipped ...


Copyright of this story solely belongs to bisinfotech.com . To see the full text click HERE