Rising adoption of Electric Vehicles (EVs) is a key factor driving market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, June 20, 2024 /EINPresswire.com/ -- The Cell to Pack (CTP) battery market size was USD 4.38 Billion in 2022 and is expected to register a rapid revenue CAGR of 27.5% during the forecast period, according to the latest analysis by Emergen Research. Rising adoption of EVs is a key factor driving market revenue growth. CTP batteries are used in various industries, which enables EV producers to create battery packs that are smaller and more energy-dense, increasing driving range and improving performance. In recent years, there has been rising demand for electric passenger cars, driven by the increasing need for safer personal transportation for inter-city and cross-country travel.

The Asia Pacific region became the largest market for sale of electric passenger cars, with China playing a significant role as the primary contributor to this trend. Europe and North America have also witnessed an uptick in the demand for electric passenger cars due to escalating fuel costs and a heightened awareness about benefits of decarbonized vehicles. While some electric passenger car models offer an average driving range of 500-600 km, it is important to note that these belong to the category of higher-ranged electric passenger cars. The adoption of CTP batteries is expected to enable the cost-effective integration of high-energy-density solutions in electric passenger cars, resulting in reduced weight and enhanced efficiency.

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Scope of the Report:

The extensive survey on the Cell to Pack (CTP) Battery  market further identifies data that best fits the business requirement such as product classification, application and important definition. In addition, the study takes into account series of industry-leading events designed to enlighten the product owners on return on investment, investment feasibility, supply chain management, consumption volume, customer behaviour and demand and supply. To bring in more accuracy and quality to the study of Cell to Pack (CTP) Battery  market the report interprets critical information through tables, infographics, and charts.

In market segmentation by manufacturers, the report covers the following companies-

Sunwoda Electronic Co., Ltd., Panasonic Holdings Corporation, LG Energy Solution, Contemporary Amperex Technology Co., Ltd., BYD Company Ltd., Huber Cell to Pack (CTP) Battery Batterys LLC, Tesla, C4V, BMW AG, and Hozon New Energy Automobile Co. Ltd.

Some Key Highlights From the Report

The Lithium Ion Phosphate (LiFePO4) battery segment is expected to account for largest revenue share in the global CTP battery market during the forecast period. This is due to rising requirement for lithium-iron phosphate batteries in the automotive sector, notably for EVs, together with cutting-edge developments in lightweight materials. These batteries employ LiFePO4 as the cathode and graphitic carbon electrode with a metallic backing as the material of the anode. In comparison to alternative battery materials, (LiFePO4) batteries offer several advantages, including lightweight technology, rapid charging, extended cycle life, and minimal energy wastage.

The Battery Electric Vehicle (BEV) segment is expected to register steadily fast revenue growth rate in the global CTP battery market over the forecast period. This is due to rising popularity of BEVs popularity as a more attractive mode of transportation due to their numerous advantages. BEVs help in the worldwide effort to combat climate change and reduce air pollution because BEVs have zero emissions from their tailpipes. In addition, BEVs are becoming even greener as the electrical grid integrates renewable energy sources and other cleaner energy sources.

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The study delivers real answers for questions about market segmentation by types, region and application to power the overall market research for the forecast. Subject matter experts behind the market analysis have collaborated with some of the highly acclaimed business owners to track records and estimate what is happening in areas such as technology innovation, production volume, end-use and product pricing. Research analysts have further remodeled their approach to present a report uniquely positioned to offer unmatched information on prominent manufactures, new entrants, exiting white spaces, acquisitions and mergers, collaborations and product launches.

Emergen Research has segmented the global Cell to Pack (CTP) Battery market on the basis of battery type, propulsion, battery technology, and region:

Battery Type Outlook (Revenue, USD Billion; 2019–2032)

Lithium Iron Phosphate (LIP)

Nickel Manganese Cobalt (NMC)

Others

Propulsion Outlook (Revenue, USD Billion; 2019–2032)

Battery Electric Vehicle (BEV)

Plug-In Hybrid Electric Vehicle (PHEV)

Battery Technology Outlook (Revenue, USD Billion; 2019–2032)

Blade Battery Technology

Lithium Slim Energy Reserve (LiSER) Battery Technology

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/cell-to-pack-battery-market

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About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
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