Global Automotive Battery Market, By Battery Type (Lithium- Ion, Lead- Acid, Nickel, Sodium- Ion), Vehicle Type (Passenger Vehicle, Commercial Vehicle, Electric Vehicle), Engine Type (Internal Combustion Engine, Electric Vehicles), Functions (Electric Propulsion, Start, Lighting, Ignition), Sales Chanel (OEM, Aftermarket), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The automotive battery market is expected to witness market growth at a rate of 5.38% in the forecast period of 2021 to 2028 and is expected to reach USD 114.58 billion by 2028. Data Bridge Market Research report on automotive battery market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The expansion of transportation sector is escalating the growth of automotive battery market.
Automotive batteries refer to batteries which supply electric current to motor vehicle that are usually rechargeable in nature. Some of the automotive batteries types are Lithium- ion, lead- acid, nickel and sodium- ion. These are generally 12-volt battery of six cells and are the heart of the car's electrical system. The main aim of the component is to start the engine and then the power for electrical system is supplied by alternator.
The growing consumer preference for pollution-free electric and hybrid vehicles and the increasing need for ideal automotive battery that are capable of offering adequate reserve capacity which signifies the amount of electrical energy that the battery can deliver when it is fully charged are the major factors driving the automotive battery market. The use of the rankings used to measure battery performance include cold cranking amperes (CCA), amp-hours (AH), power (watts) and reserve capacity (RC), new hybrid and electric automotive models from OEMs and the implementation of supportive policies by federal, state and area administrative bodies to sustain long-term benefits for successful manufacturing of an EV accelerate the automotive battery market growth. The requirement to develop a uniform platform and provide operational support for EVs by electric utility providers and favorable regulatory policies also influence the automotive battery market. Additionally, rise in the production and sales of vehicles, expansion of transportation, technological advancement, increasing demand for advanced technologies and change in lifestyle and surge in disposable income positively affect the automotive battery market. Furthermore, research and development for hybrid and EVs and increasing demand for hybrids and EVs extends profitable opportunities to the automotive battery market players in the forecast period of 2021 to 2028.
On the other hand, high initial cost, fluctuation in the oil prices and limited range are the factors expected to obstruct the automotive battery market growth. Safety issues related to battery usage and underdeveloped support infrastructure for EVs are projected to challenge the automotive battery market in the forecast period of 2021 to 2028.
This automotive battery market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on automotive battery market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Automotive Battery Market Scope and Market Size
The automotive battery market is segmented on the basis of battery type, vehicle type, engine type, functions and sales channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of battery type, the automotive battery market is segmented into lithium- ion, lead- acid, nickel and sodium- ion.
- On the basis of vehicle type, the automotive battery market is segmented into passenger vehicle, commercial vehicle and electric vehicle.
- On the basis of engine type, the automotive battery market is segmented into internal combustion engine and electric vehicles.
- On the basis of functions, the automotive battery market is segmented into electric propulsion, start, lighting and ignition.
On the basis of sales channel, the automotive battery market is segmented into OEM and aftermarket.
Global Automotive Battery Market Country Level Analysis
The automotive battery market is analyzed and market size, volume information is provided by country, battery type, vehicle type, engine type, functions and sales channel as referenced above.
The countries covered in the globally automotive battery market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the automotive battery market because of the strong presence of lead-acid battery manufacturer, increasing demand for electric vehicles and rising government efforts to reduce carbon emission by developing eco-friendly products. Asia-Pacific is expected to witness the fastest growth during the forecast period of 2021 to 2028 because of the growing product demand in automotive applications in various countries, high sales of commercial cars, passenger cars and motorcycles, product developments by various companies to manufacture cost-efficient and high-performance vehicles and government initiatives to provide subsidies based on the price difference between EVs and internal combustion engine (ICE) enabled vehicles.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Battery Market Share Analysis
The automotive battery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive battery market.
The major players covered in the automotive battery market report are Johnson Controls, GS Yuasa International Ltd., Exide Technologies, East Penn Manufacturing Company, Camel Group Co, Fengfan Co.,Ltd., FIAMM, ENERSYS, Robert Bosch GmbH, MK Battery, Amara Raja Group, Hitachi, Ltd., SANYO Electric Co.,Ltd, Okaya Power Pvt. Ltd., Luminous India, Huawei Technologies Co., Ltd., Chaowel Power Holdings Limited among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.