Car Batteries Global Market Report 2024

Description

Car batteries, also referred to as automotive batteries, are rechargeable devices that supply electrical energy to operate a vehicle's starter motor, lights, and other electrical systems. They are indispensable for ensuring vehicles operate reliably by providing the necessary power to start engines and sustain electrical functions.

The primary categories of car batteries include valve-regulated lead-acid (VLA) batteries, flooded batteries, and other variants. Valve-regulated lead-acid (VRLA) batteries are a specific type of rechargeable battery engineered with a valve-regulated mechanism that manages the release of gases produced during charging. These batteries support various functions such as electric propulsion, starting, lighting, and ignition, distributed through diverse sales channels such as original equipment manufacturers (OEMs), automotive outlets, e-commerce platforms, wholesale clubs, and other channels.

The car batteries market research report is one of a series of new reports from The Business Research Company that provides car batteries market statistics, including car batteries industry global market size, regional shares, competitors with a car batteries market share, detailed car batteries market segments, market trends and opportunities, and any further data you may need to thrive in the car batteries industry. This car batteries market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The car batteries market size has grown strongly in recent years. It will grow from $23.19 billion in 2023 to $24.48 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth during the historic period was driven by the expansion of hybrid vehicles, rising demand for automotive batteries, particularly lead-acid and deep cycle batteries, and increasing efforts in battery recycling.

The car batteries market size is expected to see strong growth in the next few years. It will grow to $30.90 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. Anticipated growth in the forecast period is attributed to the global surge in electric vehicle demand, increasing adoption of stationary energy storage systems, heightened consumer awareness, and advancements in energy density and range. Key trends expected in this period include the widespread adoption of lithium-ion batteries, advancements in lead-acid battery technology, integration of smart battery management systems, development of fast-charging capabilities, and a growing emphasis on sustainable practices through advancements in battery recycling technologies.

The car battery market is poised for growth due to increasing demand for electric vehicles (EVs). Electric vehicles are automobiles powered either entirely or partially by electricity stored in batteries. This demand is fueled by the environmental advantages and lower operating costs of EVs, making them increasingly popular among consumers and businesses. Car batteries in EVs serve essential roles in providing propulsion energy, supporting auxiliary systems, enabling regenerative braking, and ensuring overall vehicle functionality and safety. For instance, the Global EV Outlook 2023 report by the International Energy Agency revealed a 35% year-on-year increase in electric car sales, totaling 3.5 million in 2023 compared to 2022. Thus, the rising adoption of electric vehicles is driving the expansion of the car battery market.

Leading companies in the car battery market are prioritizing innovation with products such as superfast charging lithium iron phosphate (LFP) batteries to enhance performance and meet consumer expectations. These batteries charge significantly faster than standard ones, leveraging lithium iron phosphate for improved safety, durability, and thermal stability, making them ideal for electric vehicles. For example, in August 2023, Contemporary Amperex Technology Co., Limited (CATL) introduced Shenxing, the world's first 4C superfast charging LFP battery. It offers a 400 km range with just a 10-minute charge and over 700 km on a full charge, achieved through advanced cathode technology and nano-crystallized LFP material for efficient lithium-ion extraction and rapid charging. Shenxing also boasts long-range capability, fast charging in varied temperatures, and enhanced safety features through innovative design and intelligent algorithms.

In April 2024, Advik, an India-based automotive component manufacturer, acquired Aceleron Energy for an undisclosed sum. This acquisition is part of Advik's strategy to expand its footprint in the electric vehicle (EV) and energy storage system (ESS) sectors, aiming to broaden its product portfolio and customer base while advancing next-generation energy storage solutions. Aceleron Energy, based in the UK, specializes in manufacturing lithium-ion batteries and 12V Essential batteries used in sports cars.

Major companies operating in the car batteries market are Volkswagen Group, Stellantis NV, Mercedes-Benz Group AG, Hyundai Motor Company, Tesla Inc, Nissan Motor Co. Ltd., BYD Company Limited, Panasonic Corporation, Renault Group, Toyota Industries Corporation, LG Energy Solution, Samsung SDI, Clarios LLC, Chaowei Power Holdings Ltd., Exide Industries Ltd., East Penn Manufacturing Company, Amara Raja Energy & Mobility Limited, Saft, A123 Systems Inc., Motorcraft, CITROEN

Asia-Pacific was the largest region in the car batteries market in 2023. The regions covered in the car batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the car batteries market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The car batteries market consists of sales lead-acid batteries, lithium-ion batteries, battery cables and accessories, battery testers and analyzers, battery jump starters, and battery terminal cleaners and tools. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Car Batteries Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on car batteries market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for car batteries ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The car batteries market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Valve Regulated Lead-Acid (VRLA) Battery; Flooded Battery; Other Types
2) By Functions: Electric Propulsion; Start; Lighting; Ignition
3) By Sales channel: Original Equipment Manufacturer (OEM); Automotive Channel; E-commerce; Wholesale Clubs; Other Sales Channels
Companies Mentioned: Volkswagen Group; Stellantis NV; Mercedes-Benz Group AG; Hyundai Motor Company; Tesla Inc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r19328

1. Executive Summary

2. Car Batteries Market Characteristics

3. Car Batteries Market Trends And Strategies

4. Car Batteries Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Car Batteries Market Size and Growth

5.1. Global Car Batteries Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Car Batteries Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Car Batteries Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Car Batteries Market Segmentation

6.1. Global Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Valve Regulated Lead-Acid (VRLA) Battery
Flooded Battery
Other Types
6.2. Global Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Electric Propulsion
Start
Lighting
Ignition
6.3. Global Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Original Equipment Manufacturer (OEM)
Automotive Channel
Ecommerce
Wholesale Clubs
Other Sales Channels

7. Car Batteries Market Regional And Country Analysis

7.1. Global Car Batteries Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Car Batteries Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Car Batteries Market

8.1. Asia-Pacific Car Batteries Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Car Batteries Market

9.1. China Car Batteries Market Overview
9.2. China Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Car Batteries Market

10.1. India Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Car Batteries Market

11.1. Japan Car Batteries Market Overview
11.2. Japan Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Car Batteries Market

12.1. Australia Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Car Batteries Market

13.1. Indonesia Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Car Batteries Market

14.1. South Korea Car Batteries Market Overview
14.2. South Korea Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Car Batteries Market

15.1. Western Europe Car Batteries Market Overview
15.2. Western Europe Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Car Batteries Market

16.1. UK Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Car Batteries Market

17.1. Germany Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Car Batteries Market

18.1. France Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Car Batteries Market

19.1. Italy Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Car Batteries Market

20.1. Spain Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Car Batteries Market

21.1. Eastern Europe Car Batteries Market Overview
21.2. Eastern Europe Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Car Batteries Market

22.1. Russia Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Car Batteries Market

23.1. North America Car Batteries Market Overview
23.2. North America Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Car Batteries Market

24.1. USA Car Batteries Market Overview
24.2. USA Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Car Batteries Market

25.1. Canada Car Batteries Market Overview
25.2. Canada Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Car Batteries Market

26.1. South America Car Batteries Market Overview
26.2. South America Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Car Batteries Market

27.1. Brazil Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Car Batteries Market

28.1. Middle East Car Batteries Market Overview
28.2. Middle East Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Car Batteries Market

29.1. Africa Car Batteries Market Overview
29.2. Africa Car Batteries Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Car Batteries Market, Segmentation By Functions, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Car Batteries Market, Segmentation By Sales channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Car Batteries Market Competitive Landscape And Company Profiles

30.1. Car Batteries Market Competitive Landscape
30.2. Car Batteries Market Company Profiles
- 30.2.1. Volkswagen Group
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Stellantis NV
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Mercedes-Benz Group AG
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Hyundai Motor Company
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Tesla Inc
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Car Batteries Market Other Major And Innovative Companies

31.1. Nissan Motor Co. Ltd.
31.2. BYD Company Limited
31.3. Panasonic Corporation
31.4. Renault Group
31.5. Toyota Industries Corporation
31.6. LG Energy Solution
31.7. Samsung SDI
31.8. Clarios LLC
31.9. Chaowei Power Holdings Ltd.
31.10. Exide Industries Ltd.
31.11. East Penn Manufacturing Company
31.12. Amara Raja Energy & Mobility Limited
31.13. Saft
31.14. A123 Systems Inc.
31.15. Motorcraft

32. Global Car Batteries Market Competitive Benchmarking

33. Global Car Batteries Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Car Batteries Market

35. Car Batteries Market Future Outlook and Potential Analysis

35.1 Car Batteries Market In 2028 - Countries Offering Most New Opportunities
35.2 Car Batteries Market In 2028 - Segments Offering Most New Opportunities
35.3 Car Batteries Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer