Germany Electric Vehicle Battery Market - Opportunities & Forecast, 2020-2027


Posted September 12, 2020 by shaqibakram

The rising government efforts and investments for the manufacturing or development of electric vehicle batteries and the continuous growth in the sales of electric vehicles in Germany....

 
The electric vehicle battery is considered to be an integral component of an electric vehicle without which the electric vehicles cannot run because the battery provides an uninterrupted supply of power to the motor and other parts of the vehicles, hence driving the vehicle. The batteries designed for electric vehicles have certain added features when compared to the traditional ones and designed in a manner that they can provide power over a sustainable period. The batteries which are used for supplying power to the electric vehicles such as lithium-ion batteries, lead acid batteries are recyclable.

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The rising government efforts and investments for the manufacturing or development of electric vehicle batteries and the continuous growth in the sales of electric vehicles in Germany are the key factors bolstering the growth of electric vehicle battery market across the country during the forecast period. The German government reserved €1bn for supporting the battery cell production in the country along with an additional €500m to support the research into the next-generation and the existing batteries for electric vehicles. Moreover, the rising technological advancements and growing research and development activities for the production of enhanced batteries for electric vehicles are also some key reasons which are fuelling the market growth of the electric vehicle battery in Germany. In addition, the inclination of manufacturers to foster home-grown battery cell production for ensuring a significant stake in the market is leading to an increase in investments for the development of batteries. The growing production of electric vehicles owing to the increasing consumer demand for efficient and increased performance vehicles is paving the way for the electric vehicle battery in the coming years. The factor which is restraining the growth of electric vehicle battery market includes the variations in the prices of raw material.

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Various notable players operating in the Germany electric vehicle battery market include BYD Company Limited, LG Chem, Tesla, Inc., Liacon Batteries, Samsung SDI Co., Ltd., Toshiba Corporation, Contemporary Amperex Technology Co. Limited, Panasonic Corporation, EAS Batteries, and BMZ Group among others.

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The Germany electric vehicle battery market has been segmented on the basis of battery type, propulsion type and vehicle type. On the basis of battery type, the market is segmented into lead acid battery, lithium-ion battery, nickel-metal hydride battery and solid state battery. Based on propulsion type, the market is segmented into battery electric vehicle, plug-in hybrid electric vehicle, and hybrid electric vehicle. Based on vehicle type, the market is segmented into two-wheelers, three-wheelers, electric cars and electric buses & trucks.

Key questions answered in this research report:

At what pace is the Germany electric vehicle battery market growing? What will be the growth trend in the future?
What are the key drivers and restraints in the Germany electric vehicle battery market? What will be the impact of drivers and restraints in the future?
What is the various type of batteries used in the electric vehicles in the Germany market, and how they are poised to grow?
What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

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Last Updated September 12, 2020