Governments are taking an active interest in reducing emission levels through promoting clean and efficient means of transportation, and finding alternatives to gasoline and diesel-based vehicles.
The latest report by TechNavio emphasizes the growing focus on extending the life of lithium-ion batteries, which are already used in a variety of applications like cellphones, laptops, electric bikes, electric scooters, UPS systems and transit buses.
“Lithium-ion batteries have completely replaced lead-acid batteries, since lithium has the highest electrochemical potential of all metals and these batteries have high energy and power densities. These features have improved the performance and efficiency of micro electric vehicles,” says Faisal Ghaus, Vice President of TechNavio.
With growing concerns surrounding environmental protection and the reduction of greenhouse gas emissions, micro electric vehicles have become a strong alternative and the most viable solution to the problem of emissions. Quadricycles and similar vehicles have gained a solid reputation among consumers, which will boost the prospects for the Global EVC Market through the projected period.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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