DUBLIN--(BUSINESS WIRE)--The "Global Electric Vehicle Battery Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
In 2016, China lead the electric vehicle battery market, with 336,000 new electric cars being registered during the year. The electric car sales in China alone was more than double than the number of electric vehicles sold in the United States, where there were only 160,000 new registrations of electric vehicles.
Policy support is among the major factors driving the electric vehicle battery market, as policies have been lowering the barriers for electric vehicles adaptation. Policy support enables the growth of the market studied, by making vehicles appealing to consumers, reducing risks for investors, and encouraging manufacturers willing to develop electric vehicle or EV production on a large scale. In Norway, electric cars are exempted from acquisition tax, and BEVs or battery electric vehicles are exempt from 25% VAT on car purchases.
The Chinese government has been providing both financial and non-financial incentives. Electric vehicles are exempted from acquisition and excise taxes, ranging between CNY 35,000 and CNY 60,000. Some cities in China have also been allowing total or partial waivers, from license plate availability restrictions. The robust electric vehicles sales in China can be attributed to the imposition of license plate restrictions, electric vehicles adaptation encouragement programs, and financial incentives. In the country's national plan for 2016-2020, the Chinese government announced that subsidies for EVs would be reduced by 20%, from 2017.
Low-speed electric vehicles have been garnering attention in the global electric vehicle market, primarily in China, where they have emerged as a competitor to both electric vehicles and two wheelers. LSEVs have speed ranging between 40 to 70 kmph, and in some cases use lead-acid batteries and basic motor technology. It is estimated that the sale value of LSEV grew by roughly 50% in 2016 to reach about 1.3 million.
Companies Mentioned
- Panasonic
- LG Chem
- BYD
- Samsung SDI
- Johnson Controls International PLC
- GS Yuasa
- Hitachi Group
- Automotive Energy Supply Corporation
- Blue Energy Co. Ltd
- Lithium Energy Japan
- Robert Bosch GmbH
Key Topics Covered:
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Supply Chain Analysis
6. Industry Attractiveness - Porter's Five Forces Analysis
8. Regional Market Analysis
9. Key Company Analysis
10. Competitive Landscape
11. Disclaimer
For more information about this report visit https://www.researchandmarkets.com/research/n9rqgc/global_electric?w=4
