According to a new market report published by Lucintel, the future of the global automotive battery powered propulsion system market looks promising with opportunities in plug-in electric vehicle, hybrid electric vehicle, and on- and off-road electric vehicle segments. The global automotive battery powered propulsion system market is expected to grow with a CAGR of xx%-xx% from 2021 to 2026. The major drivers for this market are increasing demand for electric vehicles, increasing consumer awareness and increasing production of vehicles.
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In this market, lithium-ion, nickel metal hydride and others are the major battery used to manufacture automotive battery powered propulsion system. On the basis of comprehensive research, Lucintel forecasts that lithium-ion battery will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to the significance in electric vehicles owing to its higher energy density and longer life span than conventional ones and high manufacturing costs and safety risks associated with this technology.
Within the global automotive battery powered propulsion system market, the plug-in electric vehicle segment is expected to witness the highest growth over the forecast period due to the gasoline powered engine and an electric motor. It provides excellent fuel-efficiency in different driving conditions and is less costly compared to other hybrid vehicles.
APAC is expected to remain the largest market and witness the highest growth rate over the forecast period due to the increasing passenger vehicle sales and growing investment of OEMs, and surge in demand for mid-range and premium automobiles.
Emerging trends, which have a direct impact on the dynamics of the industry, include growing demand for emission-free & eco-friendly vehicles, technological innovations in the transportation sector and advancements in low emission technology. Robert Bosch GmbH, JTET Corporation, Denso Corporation, Nexteer Automotive, Mitsubishi Electric Corporation, TRW Automotive Holding, NEC Corp, E-One Moli Energy Corp and GS Yuasa Corp are among the major suppliers of the automotive battery powered propulsion system market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive battery powered propulsion system market by battery type, application and region and has compiled a comprehensive research report titled “Growth Opportunities in the Global Automotive Battery Powered Propulsion System Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive battery powered propulsion system market by battery type, application and region, as follows:
By Battery Type [Value ($ Million) from 2015 to 2026]:
Lithium-ion
Nickel Metal Hydride
Others
By Application [Value ($ Million) from 2015 to 2026]:
Plug-in Electric Vehicle
Hybrid Electric Vehicle
On- and off-road Electric Vehicle
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
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Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.