According to research by P&S Market Research, the global hybrid and electric vehicle battery market is expected to grow at a CAGR of 20 per cent in terms of value during 2016-2022. The report, Global Hybrid and Electric Vehicle Battery Market Size, Share, Development, Growth and Demand Forecast, claims that, among the various applications, the electric vehicle segment accounted for the largest share (46.5 per cent) of the hybrid and electric vehicle battery market in terms of value in 2015.
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