"Actionable Insights to Fuel Your Growth"
Region : Global | Published Date: Upcoming | Report ID: FBI101217| Status : Upcoming
Batteries are the core technology enabling the transformative shift to decarbonize energy and transport system. The conference held by the United Nations for climate change has set the framework for a rapid global transformation to a sustainable energy system to avoid catastrophic climate change. The government authorities and private entities are working together to promote e-mobility to meet the collective goals for sustainable development.
High voltage battery is undoubtedly playing a crucial role in the automotive sector, where high voltage battery finds the major application. Many renowned automakers across the world are showing interest in electric vehicle and investing in large scale for promoting e-mobility. At the same time, the government is offering lucrative tax benefits and subsidies to encourage greener technology.
To get information on various segments, share your queries with us
Also, the environmental regulation laid down by the European Union on marine propulsion has surged the demand for high voltage battery. High voltage battery is significant in most of the heavy-duty vehicles and marine propulsion for achieving high performance. According to the type of application, various types of batteries are used, such as the lead-acid battery, lithium-ion battery, nickel-metal hydride, etc. Consequently, batteries offer not only a sustainable energy solution but also useful in promoting green technology.
The high voltage battery market is segmentation is based on the voltage, battery capacity, battery type, driving range, and vehicle type. The voltage range used in a commercial electric vehicle is between 400-600V vehicle, which includes passenger cars, whereas heavy-duty vehicles use battery having a voltage rating more than 600V, which is best suitable for sports cars.
Based on battery capacity, the market is segmented as 75-150kWh, 151-300kWh, and above 300kWh. On the bases of battery type, the most common type of battery found in most of the electric vehicle is lithium-ion battery due to its high energy density.
The automotive sector has attributed the growth of the high voltage battery due to significant adoption of e-mobility across the world while the technology growth has increased the number of data centers and telecommunication, which accelerate the high voltage battery market.
The government authorities are rolling out massive projects for e-mobility to mitigate GHG emission, which expected to accelerate the demand for high voltage battery. Ongoing adoption of renewable energy requires a high voltage battery for better stability of the grid. Also, the technological revolution in telecommunication increased the demand for an uninterrupted power supply that drives the high voltage battery market.
High voltage batteries are quite expensive along with the complications involved in recycling of the batteries. Due to the presence of toxic and hazardous metal content batteries require a scientific process for its recycling. Furthermore, it requires extra attention while handling and transportation of batteries that will retard the growth of the high voltage battery.
The import key players for high voltage battery are Tesla, Panasonic USA, BYD, LG Chem, Samsung SDI, A123 Systems LLC, Bosch Limited, Contemporary Amperex Technology Co., Limited, Johnson Controls, and GS Yuasa.
By Battery Capacity
· Above 300kWh
By Battery Type
· Lithium Iron Phosphate
· Lithium Nickel Manganese Cobalt Oxide
· Lithium Nickel Cobalt Aluminium Oxide
By Driving Range
· Up to 250 miles
· 251-500 miles
· Above 500 miles
By Vehicle Type
· Passenger Car
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
The global high voltage battery market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The massive economic growth and increasing demand for sustainable energy solution are attributing the growth of the high voltage battery in North America. The technological revolution has driven the requirement of reliable power for rising data centers and telecommunication. Also, the various companies and government authorities are promoting e-mobility that accelerate the growth of the high voltage battery market in North America. Europe is expected to see a surge in for high voltage battery due to development in micro-grid infrastructure for reliable power. The automaker is playing a key in leveraging the demand for high voltage battery demand as most of the companies are introducing an electric vehicle in the market for sustainable growth. At the same time battery will limit the carbon and GHG emission that anticipate the growth of the high voltage battery in Europe. The massive infrastructural development and smart city projects in the Asia Pacific, along with the adoption of e-mobility are expected to leverage the demand for high voltage battery. China is the crucial player attributing the growth of the high voltage batteries owing to the high consumption of the electric vehicle and increasing telecommunication sector. Hence these factors contribute to the growth of the high voltage battery in the Asia Pacific.