India Electric Vehicle Components Market Opportunities & Forecast, 2019-2026 - Gurgaon

According to the latest report by GMI Research, India Electric Vehicle Battery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2027. The India Electric Vehicle Battery Market examines the impact of the COVID-19 pandemic and represents that the market will experience a sharp fall in 2020 and then accelerate at a significant growth rate from 2021 onwards. An electric vehicle consists of an electric traction motor and uses the battery as a power source in place of the internal combustion engine used in gasoline-powered vehicles. There are generally two types of battery, including Lithium-Ion battery and Lead Acid battery. The lithium-ion batteries have a high power-to-weight ratio, better energy efficiency, and provide effective performance even at high-temperatures. The lead-acid batteries are widely used in electric vehicles to supplement other battery loads.

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