Automotive Battery Market Size, Share & Trends Analysis Report By Type, By Drive (ICE, Electric Vehicle), By Vehicle (Passenger Cars, Commercial Vehicles, Others), By Region, And Segment Forecasts, 2024

Description

Automotive Battery Market Growth & Trends:

The global automotive battery market size is expected to reach USD 105.61 billion by 2030, registering a CAGR of 6.4% during the forecast period, according to a new report by Grand View Research, Inc. Features of an automotive battery have evolved drastically over the years as modern engines are smaller in displacement and use lower-viscosity engine oils. Furthermore, modern fuel injectors spray the gasoline directly onto the cylinder itself. Due to this, batteries in recent times are connected to vehicle's electrical system. Additionally, contemporary batteries act as a capacitor in the electrical system of vehicles to absorb voltage spikes, which are often created when the electric switch closes or opens.

Large-scale availability of batteries in various sizes and specifications along with high current level is expected to drive the market over the forecast period. Lead acid batteries are relatively cheaper as compared to other batteries and can be manufactured with relatively lower technology equipment, which in turn is projected to keep their demand high during the forecast period.

Sodium-ion batteries are the direct replacement of lithium-ion batteries, raw materials of which are costlier than the former. Moreover, Na-ion batteries are available in abundance. Compared to Li-ion batteries, they are a potentially safer and cheaper alternative. However, these batteries are still in the development stage and not available for practical use. In 2015, researchers developed a prototype of sodium-ion batteries in the industry standard of 18650 cylindrical formats.

Consensus to reduce carbon footprint is leading to a shift towards electric vehicles. Increasing fuel prices along with growing environmental concerns in developed countries are resulting in rising interest of individuals in electric vehicles. Several favorable regulatory initiatives are further supporting the sales of electric vehicles, which are estimated to augment the market.

Development of electric vehicles is also poised to be driven by an agreement promoted by the U.S., European Union, and Japan. The regions co-operate on the convergence of regulatory obligations to control cost pertaining to electric vehicles worldwide. Currently, electric cars represent a small share of the overall automobile sales, owing to which the agreement plays a crucial role in economic recovery and price-sensitivity of the industry.

Growing sales of vehicles and favorable government initiatives in developing economies such as India, China, Vietnam, and Mexico are likely to provide a fillip to the automotive battery market over the forecast period. For instance, in 2013, the Indian government set up the National Electric Mobility Mission Plan (NEMMP) 2020 to take into account various issues pertaining to vehicular pollution and national energy security. Penetration of electric vehicles in the India market is considerably low due to high cost of vehicles, low consumer disposable income, and absence of requisite infrastructure in the region. However, advent of low-cost EVs such as Mahindra e2o and Mahindra eVerito is projected to bolster the adoption in coming years, thereby providing substantial growth opportunities for the automotive battery market.

Automotive Battery Market Report Highlights:

Lead acid batteries are the most commonly used type. On the other hand, the lithium-ion batteries segment is expected to post the highest CAGR during the forecast period
Sodium-ion batteries are anticipated to gain tremendous popularity after their commercialization, owing to abundant availability of raw materials
In terms of vehicle, passenger vehicles are estimated to command more than half of the market revenue throughout the forecast horizon
The Asia Pacific automotive battery market is anticipated to witness the fastest growth over the forecast period.

Product Code: GVR-2-68038-331-7

Chapter 1. Methodology and Scope

1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources

Chapter 2. Executive Summary

2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Automotive Battery Market Variables, Trends, & Scope

3.1. Market Introduction/Lineage Outlook
3.2. Market Size and Growth Prospects (USD Billion)
3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
3.4. Automotive Battery Market Analysis Tools
- 3.4.1. Porter's Analysis
  - 3.4.1.1. Bargaining power of the suppliers
  - 3.4.1.2. Bargaining power of the buyers
  - 3.4.1.3. Threats of substitution
  - 3.4.1.4. Threats from new entrants
  - 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
  - 3.4.2.1. Political landscape
  - 3.4.2.2. Economic and Social landscape
  - 3.4.2.3. Technological landscape
  - 3.4.2.4. Environmental landscape
  - 3.4.2.5. Legal landscape

Chapter 4. Automotive Battery Market: Type Estimates & Trend Analysis

4.1. Segment Dashboard
4.2. Automotive Battery Market: Type Movement Analysis, USD Billion, 2023 & 2030
4.3. Lithium-Ion Based
- 4.3.1. Lithium-Ion Based Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.4. Lead-Acid Based
- 4.4.1. Lead-Acid Based Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.5. Nickel Based
- 4.5.1. Nickel Based Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.6. Sodium-Ion
- 4.6.1. Sodium-Ion Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.7. Others
- 4.7.1. Other Types Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)

Chapter 5. Automotive Battery Market: Drive Estimates & Trend Analysis

5.1. Segment Dashboard
5.2. Automotive Battery Market: Drive Movement Analysis, USD Billion, 2023 & 2030
5.3. ICE
- 5.3.1. ICE Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.4. Electric Vehicle
- 5.4.1. Electric Vehicle Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.4.2. BEV
  - 5.4.2.1. BEV Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.4.3. PHEV
  - 5.4.3.1. PHEV Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)

Chapter 6. Automotive Battery Market: Vehicle Estimates & Trend Analysis

6.1. Segment Dashboard
6.2. Automotive Battery Market: Vehicle Movement Analysis, USD Billion, 2023 & 2030
6.3. Passenger Cars
- 6.3.1. Healthcare Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
6.4. Commercial Vehicles
- 6.4.1. Commercial Vehicles Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
6.5. Others
- 6.5.1. Other Vehicles Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)

Chapter 7. Automotive Battery Market: Regional Estimates & Trend Analysis

7.1. Automotive Battery Market Share, By Region, 2023 & 2030, USD Billion
7.2. North America
- 7.2.1. North America Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.2.2. U.S.
  - 7.2.2.1. U.S. Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.2.3. Canada
  - 7.2.3.1. Canada Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.2.4. Mexico
  - 7.2.4.1. Mexico Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
7.3. Europe
- 7.3.1. Europe Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.2. U.K.
  - 7.3.2.1. U.K. Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.3. Germany
  - 7.3.3.1. Germany Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.4. France
  - 7.3.4.1. France Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
7.4. Asia Pacific
- 7.4.1. Asia Pacific Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.2. China
  - 7.4.2.1. China Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.3. Japan
  - 7.4.3.1. Japan Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.4. India
  - 7.4.4.1. India Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.5. South Korea
  - 7.4.5.1. South Korea Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.6. Australia
  - 7.4.6.1. Australia Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
7.5. Latin America
- 7.5.1. Latin America Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5.2. Brazil
  - 7.5.2.1. Brazil Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
7.6. Middle East and Africa
- 7.6.1. Middle East and Africa Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6.2. Saudi Arabia
  - 7.6.2.1. Saudi Arabia Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6.3. UAE
  - 7.6.3.1. UAE Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6.4. South Africa
  - 7.6.4.1. South Africa Automotive Battery Market Estimates and Forecasts, 2018 - 2030 (USD Billion)

Chapter 8. Competitive Landscape

8.1. Recent Developments & Impact Analysis by Key Market Participants
8.2. Company Categorization
8.3. Company Heat Map Analysis
8.4. Company Profiles
- 8.4.1. Exide Technologies
  - 8.4.1.1. Participant's Overview
  - 8.4.1.2. Financial Performance
  - 8.4.1.3. Product Benchmarking
  - 8.4.1.4. Recent Developments/ Strategic Initiatives
- 8.4.2. GS Yuasa International Ltd.
  - 8.4.2.1. Participant's Overview
  - 8.4.2.2. Financial Performance
  - 8.4.2.3. Product Benchmarking
  - 8.4.2.4. Recent Developments/ Strategic Initiatives
- 8.4.3. Panasonic Corporation
  - 8.4.3.1. Participant's Overview
  - 8.4.3.2. Financial Performance
  - 8.4.3.3. Product Benchmarking
  - 8.4.3.4. Recent Developments/ Strategic Initiatives
- 8.4.4. LG Energy Solution
  - 8.4.4.1. Participant's Overview
  - 8.4.4.2. Financial Performance
  - 8.4.4.3. Product Benchmarking
  - 8.4.4.4. Recent Developments/ Strategic Initiatives
- 8.4.5. A123 Systems Corp (Wanxiang A123 Systems Corp.)
  - 8.4.5.1. Participant's Overview
  - 8.4.5.2. Financial Performance
  - 8.4.5.3. Product Benchmarking
  - 8.4.5.4. Recent Developments/ Strategic Initiatives
- 8.4.6. East Penn Manufacturing Company
  - 8.4.6.1. Participant's Overview
  - 8.4.6.2. Financial Performance
  - 8.4.6.3. Product Benchmarking
  - 8.4.6.4. Recent Developments/ Strategic Initiatives
- 8.4.7. Robert Bosch GmbH
  - 8.4.7.1. Participant's Overview
  - 8.4.7.2. Financial Performance
  - 8.4.7.3. Product Benchmarking
  - 8.4.7.4. Recent Developments/ Strategic Initiatives
- 8.4.8. ENERSYS.
  - 8.4.8.1. Participant's Overview
  - 8.4.8.2. Financial Performance
  - 8.4.8.3. Product Benchmarking
  - 8.4.8.4. Recent Developments/ Strategic Initiatives
- 8.4.9. Samsung SDI
  - 8.4.9.1. Participant's Overview
  - 8.4.9.2. Financial Performance
  - 8.4.9.3. Product Benchmarking
  - 8.4.9.4. Recent Developments/ Strategic Initiatives
- 8.4.10. Hitachi, Ltd.
  - 8.4.10.1. Participant's Overview
  - 8.4.10.2. Financial Performance
  - 8.4.10.3. Product Benchmarking
  - 8.4.10.4. Recent Developments/ Strategic Initiatives

Automotive Battery Market Size, Share & Trends Analysis Report By Type, By Drive (ICE, Electric Vehicle), By Vehicle (Passenger Cars, Commercial Vehicles, Others), By Region, And Segment Forecasts, 2024 - 2030