Automotive Batteries Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 The automotive battery plays a very important role in any vehicle. It is a rechargeable battery used to provide electric current to the vehicle. These batteries are used for igniting and lighting vehicles. These batteries are also used to provide power to different accessories in the vehicles such as charging plugs, air conditioners, wipers, radio, etc. Due to the high demand for fossil fuels on the international markets together with the aggravation of environmental problems caused by an increased number of internal combustion engine vehicles, there is an increased interest in the research and development of batteries used in electric and hybrid vehicles.

The Automotive batteries Market is expected to grow at a steady rate of around 4% in the forecasted period. Moreover, the growing consumer preference for pollution-free electric and hybrid vehicles and the increasing need for an ideal automotive battery that is capable of offering adequate reserve capacity which signifies the amount of electrical energy that the battery can deliver when it is fully charged are the major factors driving the automotive battery market.

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According to UnivDatos Market Insights (UMI)’ research report “Global Automotive batteries Market”, the market is expected to witness robust growth during the forecast period (2022-2028).

Based on battery type, the automotive batteries market is classified into lead-acid, lithium-ion, and others. The lithium-ion battery segment caters substantial share of the market. Falling prices of lithium-ion batteries, owing to technological advancement and mass production are expected to propel the segment growth over the forecast period. Additionally, government initiatives to increase e-mobility adoption by providing financial incentives and enforcing stringent norms & regulations are anticipated to fuel the demand for lithium-ion batteries worldwide.

Based on vehicle type, the automotive batteries market is bifurcated into passenger cars and commercial vehicles. Among these, the passenger car segment holds a significant share in the market. The rapidly growing passenger car electrification and the manufacturers’ initiatives to launch a premium range of passenger EVs to grab early revenue growth opportunities in the transforming automotive industry are anticipated to fuel the growth of the segment in the ensuing period.

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North America to witness extensive growth

For a better understanding of the market adoption of the automotive batteries industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to a large number of lead-acid battery manufacturers in the region coupled with strict norms to control environmental pollution. This has led to a huge demand for eco-friendly products including automotive batteries. This will help in the steady growth of the automotive battery industry in the North America.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Automotive batteries market are Exide Technologies, GS Yuasa Internation, Panasonic Corporation, LG Chem, A123 Systems, East Penn Manufacturing Company, Robert Bosch Gm BH, Hitachi Group Ltd., Samsung SDI CO. LTD, and BYD Company.

“Global Automotive Batteries Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

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Market Segmentation:

1.     By Battery Type (Lead-Acid, Lithium-Ion, And Others)

2.     By Vehicle Type (Passenger Cars and Commercial Vehicles)

3.     By Drive Type (IC Engines and Electric Vehicles)

4.     By Sales Channel (OEM and Aftermarket)

5.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

6.     By Company (Exide Technologies, GS Yuasa Internation, Panasonic Corporation, LG Chem, A123 Systems, East Penn Manufacturing Company, Robert Bosch Gm BH, Hitachi Group Ltd., Samsung SDI CO. LTD, and BYD Company)

Key questions answered in the study:

1.     What are the current and future trends of the global Automotive batteries industry?

2.     How the industry has been evolving in terms of battery type, vehicle type, drive type, and sales channel?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global Automotive batteries industry?

5.     What is the customer orientation, purchase behavior, and expectations from the global automotive batteries’ suppliers across various region and countries?