CNG & LPG Vehicle Market worth 4,389 thousand units by 2026 - Exclusive Report by MarketsandMarkets™ prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
EV Battery Market worth $67.2 billion by 2025 - Exclusive Report by MarketsandMarkets EV Battery Market by Battery Capacity (300), Battery Form (Wire, Laser), Propulsion (BEV, PHEV, PHEV, FCEV), Battery Type, Material Type, Li-ion Battery Component, Method, Vehicle Type & Region - Global Forecast to 2025 , published by MarketsandMarkets, the global EV Battery Market is projected to grow at a CAGR of 25.3% from USD 27.3 billion in 2021 to USD 67.2 billion by 2025.
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The growth of the EV Battery Market can be attributed to the increasing demand of electric vehicles, improvement in battery technology, supporting government policies and regulations, and launch of new plug-in EV models.
Asia pacific is expected to be the largest EV Battery Market in the forecast
Countries such as China, Japan, India, South Korea, and Thailand are considered under Asia Pacific for market analysis. China is the largest contributor to the global market, accounting for a share of more than 95%. Chinese companies such as Panasonic, LG, Chem, Samsung, CATL, and BYD are dominating both the Chinese and global EV Battery Market. Chinese EV manufacturers, who have access to cheaper parts and components, are providing electric vehicles at lower prices.
The Chinese government has made significant investments to convert conventional public transport fleets into electric ones, which also drives the EV Battery Market. In 2019, BYD launched its K12A, the world s first 27-m pure electric bus. With a passenger capacity of 250 people, it is the longest pure electric bus in the world and can travel at a maximum speed of 70 km/h. The K12A is also the world s first electric bus equipped with a distribu
Electric Vehicle Charging Station Market worth 30,758 thousand units by 2027 - Exclusive Report by MarketsandMarkets Electric Vehicle Charging Station Market by Level of Charging (Level 1, Level 2 & Level 3, By Charging Infrastructure (Normal Charge, Type-2, CCS, CHAdeMO and Tesla Supercharger), DC fast Charging (Fast & Ultra-fast) - Global Forecast to 2027 , published by MarketsandMarkets, the global Electric Vehicle Charging Station Market size is projected to grow from 2,115 thousand units in 2020 to reach 30,758 thousand units by 2027, at a CAGR of 46.6%.
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Factors such as growing demand for energy-efficient commuting and governments supporting electric vehicles through subsidies & tax rebates have led to automakers adopting to electric vehicles and growth of electric vehicle charging stations market.
Factors such as growing demand for energy-efficient commuting and governments supporting electric vehicles through subsidies & tax rebates have led to automakers adopting to electric vehicles and growth of electric vehicle charging stations market.
Growing concerns over increased pollution by the automotive industry is the prime reason government bodies are promoting electric vehicles over conventional ones. They have recognized the need for promoting energy-efficient vehicles to reduce the increasing pollution. To attract and encourage people to buy electric vehicles and electric vehicle charging stations, government bodies of different countries are introducing lucrative schemes and incentives that include formidable discounts, lower electricity cost for charging, lower set-up cost of EV chargers, subsidies for setting up EV chargers which in some countries may go upto 1/3rd of setup cost.