The global high-voltage battery market will reach $8.9 billion in 2018

According to the latest research report released by Markets and Markets, the global high-voltage battery market size will grow from $8.
9 billion in 2018 to $81.
9 billion by 2025, with a compound annual growth rate of 38.
95%
during the period.

Increasing government spending on smart cities will drive the high-voltage battery market
for electric buses and trucks.
In addition, the demand for high-voltage systems for electric vehicles will drive the demand
for high-voltage batteries.
These systems offer several advantages over traditional ICE vehicles, such as energy efficiency, reduced emissions, quiet and smooth operation, and greater acceleration capabilities
.
Therefore, the higher voltages required to propel various systems in vehicles will also drive the high-voltage battery market
.

Lithium-nickel-cobalt alumina batteries, also known as NCA batteries, are becoming increasingly important
in high-voltage battery electric vehicles.
Typically, NCA batteries use a combination of
80% nickel, 15% cobalt and 5% aluminum.
However, the combination of Panasonic and Tesla's NCA battery versions remains unclear
.
NCA batteries are not common in the consumer industry, but they are promising for the electric vehicle industry
.

According to industry experts, Tesla is the only company
that uses NCA-type batteries.
All other manufacturers in the EV industry are using NMC-type batteries
.
Since Tesla is the market leader in electric vehicles, NMC has the largest share
of the current market situation.

The trucking industry plays a vital role
in the global economy.
Today, the main challenge facing the trucking industry is to provide reliable transportation while reducing environmental impact
.
The electric truck market is currently in its infancy
.
By the end of 2019, Tesla, Volvo, Daimler, Cummins and Navista are expected to launch heavy-duty electric trucks
.

According to industry experts, Tesla's semi-electric truck will be representative of the revolution in the electric truck industry, and according to the company, it will be launched
in 2020.
This is further validated by Canada's Walmart, which wants to retire diesel trucks faster with Tesla's semi-electric trucks to meet emissions reduction targets
.

Asia Oceania is expected to offer lucrative opportunities
in the high-voltage battery market due to rapidly developing countries and increasing spending on the development of fast charging infrastructure.
In addition, China is the world's largest BEV market
.
The latest development of charging infrastructure and smooth government regulations for electric vehicles are driving the country's light and heavy commercial electric vehicle market
.
These factors will help Asia Oceania become the largest market
for high-voltage batteries.

The North American region will be an early adopter of high-voltage battery BEVs and is expected to be one of
the major contributors to the high-voltage battery market during the forecast period.
The higher demand for long-range BEVs has driven the development of the high-voltage battery industry
.
In addition, partnerships or collaborations between major battery manufacturers and OEMs play an important role
in the high-voltage battery market.
Long distances between U.
S.
cities require buyers to own long-range electric vehicles
.
As a result, the demand for high-voltage batteries in the region is increasing
.

The high-voltage battery market is dominated by global players, including Tesla (US), BYD (China), Panasonic (Japan), LG Chem (Korea), Continental (Germany), Samsung SDI (Korea), CATL (China), and ABB (Switzerland).