In the United States, the federal, state, and local governments have authority over LIB disposal and recycling. At the federal level, “As of July 2020, no U.S. federal policies directly address battery energy storage system decommissioning, or mandate or incentivize reuse/recovery of lithium-ion batteries.” and The second law relevant to LIB recycling is the Resource Conservation and Recovery Act (RCRA), (13) which specifies the legal framework for the disposal of non-hazardous and hazardous solid waste. The contents of LIBs are likely to be subject to hazardous waste regulations, and, as noted by the National Renewable Energy Laboratory (NREL), “Federal hazardous waste laws and regulations are the most stringent and govern the generation, handling, storage, treatment, domestic or international transport, and disposal of hazardous wastes.
According to the report, Rapidly Growing Utility Sector
is one of the primary growth factors for the market. Adoption of Vehicle Battery Technology owing to the Autonomous Driving Vehicles
is also expected to contribute significantly to the Vehicle Battery Technology market. Overall, applications of Vehicle Battery Technology, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Vehicle Type, such as Battery-Powered Electric Vehicle (BEV), is boosting the Vehicle Battery Technology market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Battery Type, such as Lithium-Ion, is boosting the Vehicle Battery Technology market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Powetain Type, such as Mild Hybrid, is boosting the Vehicle Battery Technology market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
New technologies and major shifts in the industry will be game-changing factors that all players have to react now in order to maintain strong positions in the future. As many industry experts agree that significant changes are ahead. AMAs Analyst on the Global Vehicle Battery Technology market identified that the demand is rising in many different parts of the world as "The Growth Opportunities from Emerging Economies which has Potential for High Growth
". Furthermore, some recent industry insights like "On 2nd June 2022, Toyota Motor Corporation developed batteries based on the concept of safe, long service life, high-quality, good value for the price, and high performance. This technology utilizes many years of electrified vehicle development. O-Uchi Kyuden System uses electrified vehicle battery technology which ensures safety and provides a supply to the entire home." which is constantly making the industry very dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Vehicle Battery Technology market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2021 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Vehicle Battery Technology market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Vehicle Battery Technology market size is calculated using market estimation process, the Vehicle Battery Technology market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Vehicle Battery Technology market size has been validated using both top-down and bottom-up approaches.