New Report Reveals Insights into the Rapidly Growing Global Electric Vehicle Battery Market: BCC Research LLC

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Aug 24, 2023, 04:00 ET

Global Electrical Vehicle Battery Market offers analysis, market trends, and future predictions for the EV battery sector

BOSTON, Aug. 24, 2023 /PRNewswire/ -- The electric vehicle revolution is on the rise, and with it comes the need for cutting-edge insights into the global Electric Vehicle Battery Market. BCC Research is proud to announce the release of its latest report, Global Electrical Vehicle Battery Market. Authored by Senior Analyst Satyabrata Sahu, this report provides an in-depth understanding of market dynamics, trends, and innovations shaping electric vehicles' future.

In a world where electric vehicles are becoming the norm, the importance of electric vehicle batteries cannot be overstated. This report offers more than just data; it presents a roadmap for the future of the EV battery industry. With insights from industry experts and a comprehensive look at the technology driving tomorrow's transportation, this report is a valuable resource for businesses aiming to succeed in the rapidly evolving EV sector.

Key Highlights:

Explosive Growth in EV Sales: In 2022, electric vehicle sales exceeded 10 million units globally, with the market share of electric cars surging from 4% in 2020 to 14% in 2022, marking a remarkable threefold increase.
Cost Reduction in EV Batteries: The report reveals that the average cost of a Li-ion battery has dropped significantly from $1,000/kWh in 2010 to just $137/kWh in 2022. This cost reduction is instrumental in making electric vehicles more affordable to consumers.
Global Market Trends: China, Europe, and the United States continue to be the dominant markets for electric vehicle batteries, accounting for over 80% of the global market share.
Shift in EV Market Dominance: In 2022, over 60% of new electric car registrations worldwide came from China, where the proportion of electric vehicles in domestic auto sales surged to 29% from 16% in 2021.
European Union's Ambitious Emission Targets: The European Union's recently proposed CO2 regulations for electric vehicles aim for a 50%-55% reduction in emissions by 2030, highlighting the growing emphasis on sustainability.

Global Electrical Vehicle Battery Market serves as a compass for manufacturers, suppliers, and stakeholders in the EV battery industry. With insights into battery types, propulsion methods, vehicle types, and more, this report is a valuable tool for decision-makers navigating the changing landscape of electric vehicles. For further information or to make a purchase, please contact [email protected].

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About BCC Research

BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts' goal is to help you make informed business decisions, free of noise and hype.

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