Newly published findings by Fact.MR- market research and competitive intelligence provider- establishes that the global market for electric vehicle batteries exhibited robust Y-o-Y expansion of 14% in 2019, with sales being valued close to US$ 91 Bn.

According to Fact.MR’s analysis, EV batteries for passenger cars are expected to register maximum sales, accounting for more than 50% revenue in forthcoming years. This is majorly due to the widening preference for EVs globally.

Demand for stored electricity-based EV batteries is expected to gain significant traction, attributed to the fact that electric vehicles for travelling larger distances are acquiring popularity. A CAGR above 10% is projected for this segment.

“As vehicular emission regulations tighten, automobile owners are shifting towards hybrid and electric vehicles usage, prompting manufacturers to deploy batteries equipped with greater load-carrying capacity,” says a Fact.MR analyst.

If you like what you have seen then you might want some further details on it then you are in luck because more information can be found on the Fact.MR website just click here to find out more!

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