Electric Vehicle Battery on Demand: Introduction
- An electric vehicle battery powers the electric motors of a battery electric vehicle or hybrid electric vehicle. These batteries are usually rechargeable batteries, and are typically lithium-ion batteries. Batteries for electric vehicles are characterized by their relatively high power-to-weight ratio, specific energy, and energy density; smaller, lighter batteries are desirable because they reduce the weight of the vehicle and therefore, improve its performance.
- Hybrid vehicles utilize nickel metal hydride batteries, while Li-ion batteries have been the primary solution for automakers to power hybrid vehicles and battery electric vehicles. High energy density charge retention capacity, and low maintenance are some benefits that fueled the demand for Li-ion as a battery technology.
Key Drivers of Global Electric Vehicle Battery on Demand Market:
- Consumers have been preferring battery electric or plug-in vehicles for the last few years, because these vehicles runs without fuel, such as petrol, diesel, and gasoline and have lower maintenance cost, which eventually reduces consumers expenses. Thus, environment friendly nature of electric vehicles drives the growth of global electric vehicle battery on demand market across the globe.
- Rise in demand for electric vehicles and mass adoption of electric vehicles from consumers are estimated to propel the electric vehicle battery on demand market across the globe
- Increasing global concerns regarding the negative effect of climate change along with alarming pollution levels recorded in major cities has fueled the demand for electric vehicles significantly. A major factor is the support provided by the various government agencies to boost the sale of these vehicles. These factors have augmented the electric vehicle battery on demand market across the globe.
- Rise in the demand for zero-emission vehicles, decrease in the cost of the electric vehicle battery systems, and increase in the global awareness regarding climate change are also prominent factors that fuel the electric vehicle battery on demand market across the globe
- Key players operating in electric vehicle battery on demand market are startups funded by public or private investments. Investment from numerous sectors and players in the automotive industry are highly focused on product portfolios expansion. Key players are likely to focus on mergers and acquisitions of startups in order to expand and consolidate their position in the electric vehicle battery on demand market.
Production of Lower Cost Batteries to Offer Attractive Opportunities:
- Automobile companies focus on the production of advanced electric vehicle battery systems that are expected to have lower emission at relatively lower costs as compared to heavier and larger engines. Compactness and cost effectiveness are other useful features of this battery. Thus, technological advancements in the electric vehicle battery system are projected to offer significant opportunities for leading players in the near future.
- Electric vehicles majorly employ lithium-ion battery; furthermore, evolution of lithium-ion technology in electric vehicle battery and expansion of public charging infrastructure are estimated to offer lucrative opportunities for the electric vehicle battery on demand market across the globe
Global Electric Vehicle Battery on Demand Market to Hamper Market:
- Manufacturing of electric vehicle battery requires high initial investment and subsequent research and development activities are expensive, which restrains the entry of new players in the market. This is likely to hamper the global electric vehicle battery on demand market.
- Governments have enacted stringent norms on the usage of electric vehicle battery, which in turn is likely to hinder the global market. Additionally, high import taxes on electric vehicle batteries and instability of raw material prices are expected to further restrain the electric vehicle battery on demand market across the globe.
Europe to Hold Significant Share of Global Electric Vehicle Battery on Demand Market
- Europe is leading region, in terms of implementation of advanced technology systems for the automotive industry. Continuous research and development in Germany related to electric vehicle systems led to the invention of electric vehicle battery on demand.
- Several OEMs in Germany, including VDL Groep and Volvo AB, are primarily focused on the development of new systems that reduce the weight of vehicle and therefore improve its performance. These factors are likely to boost the share held by Europe in the global electric vehicle battery on demand market.
Key Players Operating in Global Market:
The global electric vehicle battery on demand market is highly fragmented with the top manufacturers across the globe. A few of the key players operating in the global electric vehicle battery on demand market are:
- Panasonic Corporation
- ENVISION AESC GROUP LTD.
- VDL Groep
- BYD Company Ltd.
- LG Chem
- Samsung SDI
- Wanxiang Group Corporation
- Beijing Pride Power
- Tianneng Power International Ltd.
- SB LiMotive
- Boston-Power, Inc.
Global Electric Vehicle Battery on Demand Market: Research Scope
Global Electric Vehicle Battery on Demand Market, by Vehicle Type
- Passenger Vehicle
- Utility Vehicles
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Electric Vehicle Battery on Demand Market, by Battery Capacity
- <50 kWh
- 50-110 kWh
- 111-200 kWh
- 201-300 kWh
- >300 kWh
Global Electric Vehicle Battery on Demand Market, by Propulsion Type
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Hybrid Electric Vehicle
Global Electric Vehicle Battery on Demand Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.