Electric vehicles are reigniting the battery market, with manufacturers rushing to claim their stake in the expanding market of larger batteries for electric busses. The market is estimated to grow to $30 billion by the end of 2026, making it the largest portion of the overall battery market. The market is primarily dominated by China at the moment, with 97% of the electric busses being produced within China, in addition to 75% of the batteries needed being manufactured there as well.
IDTechEx Reseaech estimates that the e-battery market will change over the next decade, becoming a more global market as non-LFP battery technology increases to 48% of the market. If China applies its non-LFP battery policy rigorously throughout, however, the global market for electric busses could change in the coming years.
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