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Hybrid EV Battery Market Size, Share, Trends, Analysis, Report and Forecast to 2022

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According to Stratistics MRC, the Global Hybrid EV Battery market is estimated to grow at a CAGR of 18.4% during the forecast period 2016 to 2022.

GAITHERSBURG, MARYLAND, US, May 3, 2017 /EINPresswire.com/ -- According to Stratistics MRC, the Global Hybrid EV Battery market is estimated to grow at a CAGR of 18.4% during the forecast period 2016 to 2022. In the present scenario, there has been massive production of Electric Vehicles due to the raising concerns about environment which is provoking the market scope. Declining crude oil reserves and depreciation of environment are some of the major factors driving the market for the batteries of Hybrid Electric Vehicles. In addition to this, the growing popularity of Electric Vehicles due to their zero-carbon emission advantage is helping the market to grow towards next level. The high cost of batteries and their maintenance are minor factors hindering the growth.

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Lead-Acid batteries segment is expected to dominate the market on account of its vast usage across industries & its low cost features. These exceptional features are hovering the demand for market in the global scenario. The North American market is expected to dominate the market, attributing to the presence of well established market competitors. In addition to this Asia Pacific market is estimated to grow at highest CAGR due to the newly establishing electric automotive sector.

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Some of the key players of the Hybrid EV Battery market include Automotive Energy Supply Corporation, Boston-Power, BYD Company Limited, Hitachi Vehicle Energy, Ltd., LG Chem Power Inc., Lithium Energy and Power GmbH & Co. KG, Panasonic Corporation, Quallion LLC, SAMSUNG SDI CO. LTD., Shenzhen BAK Battery Co., Ltd., Tianneng Power international Co., Ltd. and Zhejiang Tianneng Energy Technology Co. Ltd.

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