US Vehicle Battery Industry analysis: Demand Would Increase Rapidly By 2020-2030
Vehicle Battery Market: Introduction According to the report, the global vehicle battery market is projected to surpass US$ 65 Bn by 2030, expanding at a CAGR of ~ 3% during the forecast period. Rise in trade and distance between manufacturing units and end users are likely to boost the market for vehicle batteries during forecast period. Majority of countries, including Italy, China, Germany, India, the U.S., the U.K., France, and Japan are enacting stringent regulations and vehicle standards pertaining to vehicle emission, which in turn is prompting automakers to launch vehicles with new technology to reduce emissions. Automakers, including Ford Motors, General Motors, and Volkswagen are shifting their focus on development, marketing, and increasing sales of electric vehicles. These companies are planning to discontinue production of IC-engine powered vehicles at their production facilities based in Germany, Italy, France, and Spain in Europe. This...