Growing
concerns related to decreasing oil and gas resources and degrading
environmental conditions are having positive impact on the demand for
electric powered vehicles. Moreover, subsidies and incentives on
usage of such vehicles is another factor driving the market for
electric powered vehicles. These vehicles depend on electric
batteries to provide the primary or the secondary power. Thus any
impact on the demand for electric powered vehicles will affect the
electric vehicle battery market. An electric powered vehicle or
battery electric vehicle use chemical energy stored in rechargeable
battery packs for power. As all the power is derived from batteries
therefore, it does not require any combustion engine for propulsion.
Battery Electric vehicles include scooters, rail cars, bicycle,
forklifts, buses and cars. The advantages in battery storage
technology have also positively affected the electric vehicle battery
market.
The
segmentation of the
electric
vehicle battery market can be done on the basis of technology,
application and geography. Technology segment deals with the
different types of batteries used for manufacturing of electric
vehicle battery. Major battery types include lead acid batteries,
nickel metal hydride batteries, zebra batteries and lithium ion
batteries. Lead acid batteries are the most common and cheapest type
of batteries. Nickel metal hydride batteries have higher energy
densities than the common lead acid batteries and if used properly
can have exceptionally long lives. The Zebra batteries use molten
chloro-aluminate sodium as electrolyte. Lithium ion batteries use
graphite anode and lithium cobalt oxide anode. These batteries are
use to power the Battery Electric Vehicles, Hybrid Vehicles, Plug-in
Hybrid Electric Vehicles and Plug-in Electric Vehicles.
Regional
segmentation of the electric vehicle battery market includes
countries such as the United States and Canada in North America;
Germany, France, Sweden and the United Kingdom in Europe. The
government incentives on usage of battery powered vehicles are one of
the main reasons behind the growth of North American and European
electric vehicle battery market. Other prominent market includes Asia
Pacific and Middle East. Asia Pacific market includes the countries
such as Japan, China and South Korea. Increasing concerns related to
energy security and incentives on use of battery powered vehicles are
the major factor driving the Asia Pacific market. The Rest of the
World segment still lags behind in the electric vehicle battery
market. The Rest of the World Market includes countries such as
Brazil, Argentina and Venezuela.
Decreasing
crude oil reserves and concerns regarding degradation of the
environment are the major factors driving the electric vehicle
battery market. With decreasing crude reserves the demand for
economical transportation technologies has attracted investment in
this market. The governments of many major countries have encouraged
adoption hybrid vehicles that utilize the electric battery. Many
national agencies have enforced rules and provide attractive
concessions on purchasing hybrid cars. Stringent environmental
regulations in the European Union nations have encouraged wide
adoption of the battery powered vehicles. The fluctuating crude oil
prices are another major factor bolstering consumers to adopt such
batteries. Expensive nature of electric vehicle battery is one of the
major restraints to the market.
Some
of the major players in the electric vehicle battery market
include companies such as SAMSUNG SDI CO. LTD., Quallion,
Boston-Power, Inc. and LG Chem Power Inc.
No comments:
Post a Comment