EV Battery Market to Witness Astonishing Growth by 2025

Northbrook, IL -- (SBWIRE) -- 04/30/2021 -- The global EV Battery Market is projected to grow at a CAGR of 25.3% from USD 27.3 billion in 2021 to USD 67.2 billion by 2025. The base year for the report is 2020, and the forecast period is from 2021 to 2025. With the increasing stringency of government mandates regarding emissions caused by vehicles, the automotive industry focuses on efficiency, emission-free propulsion, and innovative technologies. The increasing adoption of electric vehicles and improved charging infrastructure (in terms of network, charging technologies, and capacity) in countries is expected to boost the EV battery market in the coming years.