The Global hybrid electric vehicle (HEV) battery market is expected to rise at a compound annual growth rate (CAGR) of 25.2% between 2011-2015, according to a new report.
TechNavio's 'Global Hybrid Electric Vehicle Battery Market 2011-2015' report revealed that the increased awareness of reducing the vehicle emissions is one of the main factors responsible for the growth.
According to the report, the Global HEV battery market has been observing the rise in energy independence requirements.
The report however revealed limited performance of HEVs is expected to create a challenge to the growth of the HEV battery market.
According to the report, the key vendors of this market include Build Your Dream, Optimum Battery, Panasonic EV Energy and Sanyo Electric.
Other vendors include Cobasys, Ecity Power, General Electronics Battery, Powerson Power Supply (Shanghai), Howell Energy, Tianneng Power International, Great Power Battery, DLG Battery (Shanghai), Cogent International, and Delta Batteries.
