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MarketResearch.biz delivers in-depth insights on the global automotive battery market in its upcoming report titled, “Global Automotive Battery Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global automotive battery market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive battery market is segmented on the basis of battery type, vehicle type, and region.
A rechargeable battery used in automotive to supply current to the starter and other electrical systems are called as automotive batteries. Batteries used are usually lead-acid batteries and they consist of six cells arranged in a series to provide 12 or 24-volt electricity supply to light weight vehicles and heavy weight vehicles, respectively.
Increasing production of automobiles and their increasing sale across the globe are major factors driving growth of the global automotive battery market. In addition, increasing demand for electric vehicles is further boosting demand for automotive batteries, which is another factor expected to fuel growth of the global market to a significant extent over the forecast period. Moreover, government initiatives towards promoting cleaner transport is further boosting demand for electric vehicles, resulting in boosting demand for automotive batteries.
Lack of proper battery recharge infrastructure for electric vehicles is a major factor restraining growth of the global automotive battery market. In addition, concerns related to disposal of batteries, as it contains high amount of lead is a challenge faced by the global market. Technological advancements towards product development in terms of efficiency and enhancing service life is expected to present business lucrative opportunities to major manufacturers in the global market over the next 10 years.
The market in North America accounts for significant share in the global automotive battery market and is expected to witness considerable growth over the forecast period. Presence of major manufacturers and increasing adoption of electric vehicles in countries in this region are major factors driving growth of the North America automotive battery market. Automotive battery market in Europe is expected to witness significant growth as it is the leading automotive manufacturer. The market in Asia Pacific is expected to witness highest growth and is projected to register a CAGR of X.X% over the next 10 years. This growth can be attributed to increasing sale of petrol/diesel driven and electric vehicles in countries such as China, Japan, South Korea, and India.
Global Automotive Battery Market Segmentation:
Segmentation on the basis of battery type:
- Lithium-ion based
- Lead-acid based
Segmentation on the basis of vehicle type:
- Passenger vehicles
- Commercial vehicles
- Electric vehicles
Segmentation on the basis of region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Johnson Controls International plc
- Crown Battery Manufacturing Company
- Exide Industries Limited
- A123 Systems LLC
- East Penn Manufacturing Company
- GS Yuasa Corporation
- Furukawa Electric Co. Ltd.
- Leoch Battery Inc.
- BYD Company Ltd.
- Alf Technologies Pvt. Ltd.
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