Electric Vehicle Battery Market Expected To Grow With USD 198.9 Billion By 2030
San Francisco, 27 December 2024: The Report Electric Vehicle (EV) Battery Market Size, Share & Trends Analysis Report By Battery Type (Lithium-Ion, Lead-Acid), By Propulsion Type (BEV, PHEV), By Vehicle Type (Two-Wheeler, Passenger Cars), By Region, And Segment Forecasts, 2023 - 2030 The global electric vehicle battery market size is expected to reach USD 198.9 billion by 2030, growing at a CAGR of 21.1% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. Increasing government initiatives for reducing carbon emissions and promoting the adoption of electric vehicles (EVs) drive the market growth. Growing consumer interest in EVs owing to lower operating costs and environmental benefits boosts the product demand. Rising advancements in battery technologies and the development of batteries that give better range, enhanced performance, and faster charging times, safety, and reliability are further expected to bo...