Tuesday 11 December 2018, AmsterdamThe global high voltage battery market, by value, is projected to grow to USD 89.1 billion by 2025 from USD 8.9 billion in 2018, at a CAGR of 38.95% during the forecast period. The increase in government spending toward smart cities will drive the high voltage battery market for electric buses and trucks. Additionally, the demand for high voltage systems for electric vehicles is further expected to drive the demand for high voltage batteries. These systems offer several benefits over conventional ICE vehicles such as energy efficiency, reduced emissions, quiet and smooth operation, and stronger acceleration. Hence, a higher voltage required to propel various systems of a vehicle also drives the high voltage battery market.