Li-ion Battery Market for EVs in Norway 2015-2019
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 a double fuel system makes PHEVs expensive, efficient, and a preferred choice among end-users. The use of battery-operated vehicles helps reduce carbon emissions and 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 at 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 Norway to grow at a CAGR of 44.6% 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 in Norway for 2015-2019. The market has been segmented on the basis of vehicle type into PHEVs and BEVs.
Technavio's report, Li-ion Battery Market for EVs in Norway 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 Norway 2015-2019
Technavio recognizes the following companies as the key players in the Li-ion Battery Market for EVs in Norway: A123 Systems, Blue Energy, Deutsche ACCUmotive, Johnson Controls, Johnson Matthey Battery, LG Chem, Li-Tec Battery, Panasonic, Primearth EV Energy and Toshiba
Other Prominent Vendors in the market are: AESC, BYD, China BAK Battery, Hitachi, SAFT and Samsung SDI
Commenting on the report, an analyst from Technavio’s team said: “The government is investing considerably in charging infrastructure to increase EV penetration. As of 2014, there were around 5,700 charging points in Norway, out of which 12.8% are fast chargers. We expect these to multiply during the forecast period. Tesla Motors is working to install 120kW super chargers through main traffic corridors, which charge 50% of the battery in 20 minutes. About 14 super charging stations are already installed in Norway, Germany, the Netherlands, Austria, and Switzerland. Technavio estimates the numbers to increase significantly during the forecast period.”
According to the report, the market for EVs in Norway will likely grow rapidly on the back of growing consumer awareness and aggressive government targets surrounding environmental wellbeing, leading to an increase in demand for Li-ion batteries. Norway was one of the largest markets for EVs in Europe in 2014.Further, the report states that the lack of effective charging infrastructure and stretched charging cycles may hamper market growth during the forecast period.
A123 Systems, Blue Energy, Deutsche ACCUmotive, Johnson Controls, Johnson Matthey Battery, LG Chem, Li-Tec Battery, Panasonic, Primearth EV Energy, Toshiba, AESC, BYD, China BAK Battery, Hitachi, SAFT, Samsung SDI