TechNavio recognizes the following companies as the key players in the Global Automotive Battery Powered Propulsion System Market: Primearth EV Energy Co. Ltd., SANYO Electric Co. Ltd., Johnson Controls Inc., and LG Chem Ltd.
Commenting on the report, an analyst from TechNavio’s Automotive team said: ”Governments across the globe are playing a very important role in the growth of the Global Automotive Battery-powered Propulsion System market. Government agencies such as the US EPA are providing incentives to automobile manufacturers for the development of low emission vehicles, while the Japanese government provides acquisition tax exemption, tonnage tax exemption, and subsidies up to US$1,100 on low emission vehicle purchases. In addition, the Indian government is currently providing subsidies of up to 20 percent of the ex-factory price on the purchase of low emission vehicles.”
According to the report, one of the main drivers in this market is the increase in demand for electric vehicles which directly impacts the demand for battery powered propulsion systems.
Further, the report states that one of the main challenges in this market is the high cost of electric vehicles. The direct and indirect costs associated with electric vehicles are higher than conventional fuel vehicles, which is resulting in fewer purchases of electric vehicles.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are A123 Systems Inc., E-One Moli Energy Corp., GS Yuasa Corp., and NEC Corp.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-automotive-battery-powered-propu…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Engineering market research, please visit https://www.technavio.com/automotive
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report-Global Automotive Battery Powered Propulsion System Market 2012-2016
