Big Market Research : Global Li-ion Battery Market for EVs 2015-2019

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Global li-ion battery market for EVs to grow at a CAGR of 31.1% over the period 2014-2019.

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 double fuel system makes PHEVs expensive, efficient, and a preferred choice among end-users. The use of battery-operated vehicles helps to reduce carbon emissions and the dependence on fossil fuels.