Electric Vehicle Battery Market and EV Charging Stations Market [2021] | Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Fortune Business Insights
Pune, India, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Electric Vehicle Battery Market Forecast 2026:
According to the report, Electric Vehicle Battery Market size is projected to reach USD 82.20 Billion value by 2026, exhibiting a CAGR of 6.6%. The Electric Vehicle Battery Industry was valued at USD 71.83 billion in 2018.
The global electric vehicle battery market is set to gain impetus from the increasing development of new battery chemistries for electric vehicles (EVs) worldwide. Nowadays, people are inclined towards lithium-nickel-manganese-cobalt-aluminum oxide (NMCA) composition as they provide higher energy density and longer life cycle.
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Rising Awareness Programs about Climate Change to Spur Demand
EVs have multiple emission advantages over the traditional internal combustion engine vehicles. The former is capable of utilizing and developing renewable energy resources. They also don’t emit harmful gases in the atmosphere. Apart from that, the rising number of awareness programs about rapid climate change is compelling the regulatory bodies to deploy strict norms and regulations on fuel economy.
Based on vehicle type, the battery electric...
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