Global Automotive Battery Market

Posted by kalpesh rajput on June 3rd, 2021

Global Automotive Battery Market was valued US$ XX Bn in 2019 and is expected to grow US$ XX Bn by 2027, at a CAGR of XX% during the forecast period.  To know about the Research Methodology :- Request Free Sample Report

Global Automotive Battery Market Overview:

The demand for automotive batteries is increasing in developing regions, like the Asia Pacific and South America are observing rapid economic growth. The growth of the automotive industry in developing economies, like Mexico, Vietnam, Indonesia, India, and Thailand are expected to fuel the market in long run despite of not so good performance in 2019-20. Automotive batteries also provide power to automobile accessories, for example, radio, music players, air conditioners, wipers and charging plugs. With electronic equipment in the automotive, such as mobile phones needing to operate longer between charges while still consuming more power, there is always a need for batteries with a much higher energy density.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

Global Automotive Battery Market Dynamics:

The rising demand for the automobile industry and stringent emission standards set by several government agencies are the key factors driving the growth of the global automotive battery market. The new fuel-saving technology, such as micro-hybrid systems is also leading the higher battery usage, the use of lithium-ion batteries is proving quite helpful as they are light in weight and deliver greater efficiency, the demand for transportation, and launch of new hybrid and new electric automotive models are driving the growth of the automotive battery market. Additionally, rising consumer inclination towards zero-emission and low-emission electric and hybrid vehicles, strict government emission standards are driving the electric-powered vehicles sales, which will add significant proportion of the total market by application. Furthermore, an increase in R&D for fuel cell-based automobile and development of nanotechnology-based lithium batteries are some of the factors providing numerous growth opportunities for the key players in the automotive battery market. On the other hand, safety issues related to battery and a constant variation in the prices of raw materials, like nickel and lead are some of the challenges before manufacturers and same are studied and analyzed in the report. Report has also covered the pricing structure of the final product with its value chain, which is different in different region.

Global Automotive Battery Market Segmentation:

According to the battery type, the lead-acid based segment held the largest market share of XX% of the global automotive battery market. These batteries are mostly used in the automotive for the SLI (Starting, Lighting, and Ignition) applications as they are robust, tolerant to abuse, tried and tested. They are less expensive and simple in manufacturing, capable of high discharge rates, minimal maintenance, and superior starting capacity.  In terms of vehicle type, the electric vehicle segment is dominating the market with the largest share of XX% of the global automotive battery market. Rising numerous electric cars on the road would promote the growth of privately and publicly accessible charging infrastructure. Most electric vehicle batteries are guaranteed for 8–10 years or 160,000 km. Moreover, many automotive battery manufacturing companies are investing severely into the R&D activities, to innovate automotive batteries mainly for electric vehicles. The sales of electric vehicles have been increasing considerably in recent years, and increasing demand for powerful batteries that can cover a longer distance on a single charge. Though, most of the electric vehicles available in the market are quite costly. The demand for powerful batteries has significantly increased in recent years due to growth in sale of electric vehicles. These batteries can cover longer distances on a single charge. However, most of the electric vehicles available in the market are quite expensive. For instance, the price of Tesla is USD 89,000, whereas the price of Nissan Leaf is under USD 30,000. The battery capacity of Tesla Model S is 72 KWH, whereas the battery capacity in Nissan Leaf is 24 KWH. Therefore, automobile manufacturers have been focusing on reducing the price of the batteries, which will subsequently increase the sales of electric vehicles. Region-wise, the Asia Pacific is the fastest-growing market for automotive batteries, thanks to the demand for vehicles from rapidly growing economies, like Japan, India, etc. Japan is the largest automotive battery market in Asia because of a large population base, increasing vehicle demand, and high economic growth as a result of the availability of low-cost labor, together with easy availability of raw material and components. Furthermore, the automotive batteries market in the North America region is also expected to hold the highest CAGR of XX% over the forecast period, on account of the low gasoline prices, introduction of tax-cutting reforms and stable crude oil prices. The lifespan of automotive batteries is also relatively high because of the low congestion of traffic. In the North America region, individuals drive their vehicles for a longer distance, which enables the batteries to charge and discharge fully.

Global Automotive Battery Market Recent Development:

On March 2019, Camel Group Co Ltd announced the plan to open the largest automobile battery production plant in Malaysia. With this plant, company is expected to have an estimated production of 5 million automotive batteries annually. On January 2018, Exide Technologies launched a new range of automotive batteries 'Epiq' in the Indian market. This new range of batteries comes with the six years of warranties, 'the highest' in the Indian market. The objective of the report is to present a comprehensive analysis of the Global Automotive Battery Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Automotive Battery Market dynamics, structure by analyzing the market segments and project the Global Automotive Battery Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Automotive Battery Market make the report investor’s guide.

Scope of the Global Automotive Battery Market: Inquire before buying

Global Automotive Battery Market, By Battery Type

• Lead Acid • Nickel Metal Hybrid • Lithium-Ion • Others

Global Automotive Battery Market, By Battery Technology

• SLI • AGM • Deep Cycle • Wet Cell • Others

Global Automotive Battery Market, By Vehicle Type

• Passenger • Commercial • Electric • Other

Global Automotive Battery Market, By Region

• North America • Europe • Asia Pacific • Middle East & Africa • South America

Key players operating in the Global Automotive Battery Market

• Johnson Controls International plc. • Haldex Incorporated • ZF TRW Automotive Holdings Corporation • Hitachi Ltd. • EnerSys • Furukawa Electric Co. Ltd. • Leoch International Tech • GS Yuasa Corporation • Crown Battery Manufacturing Company • Exide Industries Limited • East Penn Manufacturing Co., Inc. • Camel Group Co., Ltd. • FIAMM S.p.A. • Fengfan Co., Ltd. • Douglas Battery • Zhejiang Narada Power Source Co. Ltd. • Shandong Sacred Sun Power Sources Co., Ltd. • Zhejiang Haijiu Battery Co., Ltd. • Chaowei Power Holdings Ltd.

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kalpesh rajput

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kalpesh rajput
Joined: April 20th, 2021
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