Automotive Battery Market by Battery Type, End-user, Vehicle Type

List of Tables

The Automotive Battery Market was valued at USD 49.30 billion in 2023, expected to reach USD 53.83 billion in 2024, and is projected to grow at a CAGR of 9.64%, to USD 93.94 billion by 2030.

As a Market Research Analyst at 360iResearch focusing on the automotive battery sector, the scope involves examining battery types such as lead-acid, lithium-ion, and nickel-metal hydride used in electric vehicles (EVs), hybrids, and internal combustion engine (ICE) cars. The necessity arises from the automotive industry's shift towards electrification, requiring reliable energy-storage solutions. Applications include range extension for EVs and increased efficiency for ICE vehicles, while end-use scopes are broadening from traditional vehicular outputs to encompass electric two-wheelers and emerging autonomous vehicle technologies. Key growth factors in this market include technological advancements in energy density and charging times, favorable government incentives for EV adoption, and a rising demand for sustainability. Notably, the latest opportunities exist in developing second-life battery applications, improving recycling processes for eco-friendliness, and advancing solid-state battery technology for enhanced performance and safety. However, the market faces challenges such as high production costs, resource constraints regarding critical materials like lithium and cobalt, and infrastructure limitations for widespread EV adoption. Competitive pricing pressures and regulatory compliance also pose significant hurdles. Innovations could be explored in the realms of battery chemistry to enhance efficiency and longevity, smart battery management systems that leverage AI for predictive maintenance, and integration with renewable energy sources to broaden grid-scale storage capabilities. To capture market growth, businesses should invest in R&D to refine battery technologies, establish strategic partnerships for supply chain stability, and expand their operational footprints in regions with high EV adoption potential, such as China and the European Union. Overall, while the market is poised for robust growth, navigating its inherent challenges will be crucial for sustained success.

KEY MARKET STATISTICS
Base Year [2023]	USD 49.30 billion
Estimated Year [2024]	USD 53.83 billion
Forecast Year [2030]	USD 93.94 billion
CAGR (%)	9.64%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Automotive Battery Market

The Automotive Battery Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Increasing expansion of automotive industry globally
- Government initiatives to encourage fuel saving and cleaner transportation
Market Restraints
- Limited geographical availability of raw materials and high production cost
Market Opportunities
- Research and development in batteries for electric vehicles
- Adoption of customizable and modular battery solutions to automotive manufacturers
Market Challenges
- Environmental concerns associated with disposal of automotive batteries

Porter's Five Forces: A Strategic Tool for Navigating the Automotive Battery Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Automotive Battery Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Automotive Battery Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Automotive Battery Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Automotive Battery Market

A detailed market share analysis in the Automotive Battery Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Automotive Battery Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Automotive Battery Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Automotive Battery Market

A strategic analysis of the Automotive Battery Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Automotive Battery Market, highlighting leading vendors and their innovative profiles. These include Amara Raja Energy & Mobility Limited, BYD Company Ltd., Century Yuasa Batteries Pty Ltd, Clarios, LLC, Contemporary Amperex Technology Co., Limited, East Penn Manufacturing Co., Exicom Tele-Systems Limited, Exide Industries Limited, General Motors Company, GS Yuasa Corporation, Hitachi, Ltd., LG Energy Solution Ltd., Mitsubishi Corporation, NEC Corporation, Okaya Power Pvt. Ltd., Panasonic Holdings Corporation, Robert Bosch GmbH, Samsung SDI Co., Ltd., Tata Motors Limited, Tesla Power USA LLC, Tianneng Group, Toshiba Corporation, Varta AG, Wanxiang Group Corporation, and Zhejiang Narada Power Source Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Automotive Battery Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Battery Type, market is studied across Lead Acid and Lithium Ion.
Based on End-user, market is studied across Aftermarket and OEMs.
Based on Vehicle Type, market is studied across Commercial Vehicles and Passenger Cars. The Commercial Vehicles is further studied across Electric Vehicles and IC Engine Vehicles. The Passenger Cars is further studied across Electric Vehicles and IC Engine Cars.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-D2073C5D8E72

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing expansion of automotive industry globally
  - 5.1.1.2. Government initiatives to encourage fuel saving and cleaner transportation
- 5.1.2. Restraints
  - 5.1.2.1. Limited geographical availability of raw materials and high production cost
- 5.1.3. Opportunities
  - 5.1.3.1. Research and development in batteries for electric vehicles
  - 5.1.3.2. Adoption of customizable and modular battery solutions to automotive manufacturers
- 5.1.4. Challenges
  - 5.1.4.1. Environmental concerns associated with disposal of automotive batteries
5.2. Market Segmentation Analysis
- 5.2.1. Battery Type: Adoption of lithium ion for their high energy density and lightweight nature
- 5.2.2. Vehicle type: Increasing usage of electric vehicles in commercial vehicles sector due to the rising demand for zero-emission alternatives
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Automotive Battery Market, by Battery Type

6.1. Introduction
6.2. Lead Acid
6.3. Lithium Ion

7. Automotive Battery Market, by End-user

7.1. Introduction
7.2. Aftermarket
7.3. OEMs

8. Automotive Battery Market, by Vehicle Type

8.1. Introduction
8.2. Commercial Vehicles
- 8.2.1. Electric Vehicles
- 8.2.2. IC Engine Vehicles
8.3. Passenger Cars
- 8.3.1. Electric Vehicles
- 8.3.2. IC Engine Cars

9. Americas Automotive Battery Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Automotive Battery Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Automotive Battery Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. TaiSan secures GBP 1.3 million funding to advance quasi-solid-state sodium battery technology for lower-cost and sustainable BEV solutions.
- 12.3.2. Exide Industries Ltd launches advanced SLI-AGM batteries in partnership with East Penn Manufacturing to meet growing OEM demand
- 12.3.3. Automotive Cells Company secures USD 4.7 billion to build lithium-ion battery gigafactories in Europe
12.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Amara Raja Energy & Mobility Limited
2. BYD Company Ltd.
3. Century Yuasa Batteries Pty Ltd
4. Clarios, LLC
5. Contemporary Amperex Technology Co., Limited
6. East Penn Manufacturing Co.
7. Exicom Tele-Systems Limited
8. Exide Industries Limited
9. General Motors Company
10. GS Yuasa Corporation
11. Hitachi, Ltd.
12. LG Energy Solution Ltd.
13. Mitsubishi Corporation
14. NEC Corporation
15. Okaya Power Pvt. Ltd.
16. Panasonic Holdings Corporation
17. Robert Bosch GmbH
18. Samsung SDI Co., Ltd.
19. Tata Motors Limited
20. Tesla Power USA LLC
21. Tianneng Group
22. Toshiba Corporation
23. Varta AG
24. Wanxiang Group Corporation
25. Zhejiang Narada Power Source Co., Ltd.