About Li-ion battery for EVs
A Li-ion battery is used as a power source in EVs for transportation. It is used as an alternative source of power in PHEVs and a primary source of power in BEVs. A Li-ion battery powers the electric motor used for propulsion in a BEV. A PHEV uses both an IC engine and an electric motor for propulsion. The use of double fuel system makes PHEVs expensive, efficient, and a preferred choice among end-users. The use of battery-operated vehicles helps to reduce carbon emissions and the dependence on fossil fuels. The battery used in EVs is automatically charged during the transportation through regenerative braking mechanism and is completely refilled or recharged by a voltage ranging from 110 to 440 volts. The application of Li-ion battery is higher in BEVs and PHEVs, because of its high energy density and long life span.
TechNavio's analysts forecast the Li-ion battery market for EVs in China to grow at a CAGR of 38.5 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 EVs for the period 2015-2019. The market has been segmented based on vehicle type: PHEVs and BEVs.
TechNavio's report, Li-ion Battery Market for EVs in China 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape 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 EVs in China 2015-2019
Technavio recognizes the following companies as the key players in Li-ion Battery Market for EVs in China 2015-2019: ART – Automotive Energy Supply Corp. (AESC), Blue Energy Co. Ltd, BYD Co. Ltd, China BAK Battery Inc, Coslight Technology International Group, G Chem, Panasonic Corp, Samsung SDI Co. Ltd, Sinopoly Battery Ltd and Tianjin Lishen Battery Co. Ltd.
Other Prominent Vendors in the market are: A123 Systems, Hitachi, Primearth EV, Sony and Toshiba.
Commenting on the report, an analyst from Technavio’s team said: “The availability of charging stations plays a major role in the demand for battery-operated vehicles. Moreover, the success of EVs is mainly dependent upon the battery performance and the charging infrastructure. EVs need more charging stations across countries to overcome charging problems and reassure customers about where they can charge their vehicles.”
According to the report, the increased numbers of Li-ion battery manufacturing bases in the country has propelled the market growth. The Chinese government continues its economic growth and is aiding the industry by commercializing Li-ion batteries at low cost to the global market, which has attracted many companies to shift their Li-ion battery manufacturing bases to China.
Further, the report states that the longer duration of charging time is one of the major challenges faced by the Li-ion battery market for EVs in China.
Automotive Energy Supply Corp. (AESC), Blue Energy Co. Ltd, BYD Co. Ltd, China BAK Battery Inc, Coslight Technology International Group, G Chem, Panasonic Corp, Samsung SDI Co. Ltd, Sinopoly Battery Ltd, Tianjin Lishen Battery Co. Ltd., A123 Systems, Hitachi, Primearth EV, Sony, Toshiba