Li-ion Battery Market for AEVs in Europe 2015-2019
About Li-ion battery for AEVs
Li-ion batteries are extensively used as a source of power in AEVs. In HEVs, they are used as an alternative source of power. They are used as a primary source of power in BEVs and PHEVs. The application base of Li-ion batteries is higher in BEVs and PHEVs because of their high energy density and long lifespan compared to other rechargeable batteries available in the market. HEVs use an IC engine and an electric motor for propulsion. Use of two sources of power makes HEVs efficient, but expensive. Despite its high cost, they remain a preferred choice among end-users. Moreover, use of battery-operated vehicles helps reduce carbon emissions and lowers dependence on other fossil fuels. The battery used in HEVs is automatically charged through a regenerative braking mechanism during transportation. The batteries used for PHEVs and BEVs are charged at charging stations. They can be charged using a 110 to 440 V residential or commercial charging socket.
Technavio's analysts forecast the Li-ion battery market for AEVs in Europe to grow at a CAGR of 29.2 percent over the period 2014-2019.
Covered in this report
The report covers the present scenario and the growth prospects of the Li-ion battery market for AEVs in Europe for the period 2015-2019. The Li-ion battery market for AEVs in Europe has been segmented on the basis of: vehicle type (HEVs, PHEVs, and BEVs) and demand type (new demand and replacement demand).
Technavio's report, Li-ion Battery Market for AEVs in Europe 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Li-ion battery market landscape for AEVs in Europe and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Li-ion Battery Market for AEVs in Europe 2015-2019
Technavio recognizes the following companies as the key players in Li-ion Battery Market for AEVs in Europe 2015-2019: Amperex Technology, Blue Energy, Deutsche ACCUmotive, Johnson Controls, Johnson Matthey, LG Chem, Panasonic, Primearth EV Energy, SAFT and Toshiba
Other Prominent Vendors in the market are: A123 Systems, AESC, BatScap, BYD, Hitachi, Samsung SDI, Shenzhen BAK battery and Sony
Commenting on the report, an analyst from Technavio’s team said: “The European government is investing in charging stations to increase sustainability of battery-operated vehicles in the member countries. The availability of charging stations plays a major role in the demand for battery-operated vehicles. Moreover, the success of EVs is dependent upon battery performance and the availability of charging infrastructure. EVs need more charging stations across the countries to overcome the charging problems and reassure customers about where they can charge their vehicles. The government is aggressively investing in charging infrastructure to increase the dominance of EVs in the market.”
According to the report, after the slow recovery from the economic crisis of 2009, there is a steady increase in vehicle demand in Europe. In 2008, the sales demand for passenger vehicles declined, which saw a positive growth during the period 2012-2013 with new car registrations in the EU reaching 12 million units. However, the steady vehicle sales demand in the EU is expected to accelerate rapidly during the forecast period, with increased need for transportation.
Further, the report states that the longer duration of charging time is hampering the growth of BEVs.
Amperex Technology, Blue Energy, Deutsche ACCUmotive, Johnson Controls, Johnson Matthey, LG Chem, Panasonic, Primearth EV Energy, SAFT, Toshiba, A123 Systems, AESC, BatScap, BYD, Hitachi, Samsung SDI, Shenzhen BAK battery, Sony