Global High Voltage Battery Market was valued at US$ 7.8Bn in 2017 and is expected to reach US$ 91.3Bn by 2026, at a CAGR of 36.0% during a forecast period. High voltage battery technologies are fast emerging as the new front line in the sustainable energy revolution.
Major driving factors of the High Voltage Battery market are the rapid growth of solar and other renewables will require energy storage technology for effective grid-scale usage. Expected many more announcements and increased investment, Partnerships between existing players and new entrants, as well as different types of organizations, from battery manufacturers to automotive companies, are becoming vital to innovation and success.
Hundreds of battery-related start-ups have revealed that a host of technologies using alternative materials are being developed. The accelerating adoption of hybrid and electric vehicles (EVs) is focusing enormous attention on High Voltage battery technologies. High cost and compatibility issues will act as restraint to the market. Based on the Type, Lithium Nickel Cobalt aluminum oxide segment is expected to hold the largest share in the market during the forecast period. Lithium-ion batteries are using in most aspects of everyone everyday lives. Most devices like smartphones and laptops cannot operate without these batteries. Lithium Nickel Cobalt aluminum oxide batteries have also become very important in the field of electro mobility as it is now the battery of choice in most electric vehicles. Its high specific energy gives it an advantage over other batteries. It’s the ability to deliver high current and indicates loading capability.
High-Voltage battery can storage on devices such as lithium ion battery systems serving as a key element in the system, valid safety and security concerns emerge will have growth opportunity in this segment. In Vehicle Type, Passenger Vehicle is also expected to lead the market growth. Passenger car battery is the critical automotive components deployed to provide power for Starting, Lighting and Ignition (SLI) in an automobile. With continuing increase in production and sales of automobiles, the global automotive battery market has also been witnessing increasing sales over the last decade. Asian shoppers playing a critical role in the world economy. In terms of region, Asia Pacific is expected to hold the largest share in the market during the forecast period. Rise in demand for electric vehicles in Asia pacific market will impact the type of battery used and be strong drivers of the growth in Asian countries.
Asian companies are consistently been developing high voltage battery with a higher proportion of nickel for use in electric cars to offset the cobalt price rise. Japan remains the dominant foreign investor in Asia pacific. About 20 per cent of capital invested in the region in so-called Green Battery projects. Chinese FDI in south-east Asia is growing faster, Factors like cheap labor, access to raw materials, and ease of doing business are a few reasons for the rise of companies in the high voltage battery industry across Asia.
The report includes a detailed study of Porter’s Five Forces model to analyze the different factors affecting the growth of the market. Moreover, the study also covers a market attractiveness analysis, brand portfolio expansion, mergers, collaborations, joint ventures, acquisitions, PESTLE analysis, Value Chain Analysis, and SWOT analysis.
The Scope of the Report for High Voltage Battery Market
Global High Voltage Battery Market, By Capacity
• 75-150kWh
• 151-225kWh
• 226-300kWh
• 300kWh
Global High Voltage Battery Market, By Type
• NCA (Lithium Nickel Cobalt aluminium oxide)
• NMC (Nickel-manganese-cobalt)
• LFP (Lithium iron phosphate battery)
• Others
Global High Voltage Battery Market, By Range
• 100-250Miles
• 251-400Miles
• 401-550 Miles
• >550 Miles
Global High Voltage Battery Market, By Voltage
• 75-150V
• >600V
Global High Voltage Battery Market, By Vehicle Type
• Passenger Vehicle
• Commercial Vehicle
Global High Voltage Battery Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
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