Renault Will Push France to Become a World Leader in Global EV Battery Market

Renault Will Push France to Become a World Leader in Global EV Battery Market

Research and Markets says that France will soon become one of the world leaders in the booming global electric vehicle market.

The prediction is that a "strong manufacturing base and incentives for the purchase of electric vehicles will push France to the fore of the global EV battery market."

According to Research and Markets latest report:

"EV battery market revenue in France will increase exponentially in the coming years, from a modest $380 million in 2012 to $7.2 billion in 2020, representing a dramatic Compound Annual Growth Rate (CAGR) of 44.2%."

"Such explosive growth will make France a major figure in the global electric vehicle battery market, with only Japan ($10.3 billion) and China ($8.5 billion) forecast to have more valuable markets by 2020."

Most of the boom in France will be driven by Renault, an automaker who is unmatched in the sheer amount of pure electric vehicle offerings.  Markets and research says that Nissan will play a role in France's EV battery segment growth, so too will the French Atomic Energy and Alternative Energies Commission.

Finally, Research and Markets predicts that "France's share of the global EV battery market" will "surge from a modest 3.7% in 2012 to 16.2% in 2020."

Do you believe that France will only be bested by Japan and China in the EV battery segment by 2020?

Business Wire