Global Automotive Battery Market by Battery Type (Lithium-Ion Based, Nickel-Based, Lead-Acid Based, Sodium-Ion, Others), Vehicle Type (Passenger Vehicles, Others),Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global automotive battery market is expected to grow from USD 49.05 Billion in 2017 to USD 85.41 Billion by 2025 at a CAGR of 7.2% during the forecast period from 2018-2025. Growing demand for hybrid, semi-hybrid and fully electric vehicles is propelling the growth of automotive vehicles market. Besides this, the newest trend of start–stop batteries in vehicles is also boosting the market.
The lead-acid based segment dominated the market with the highest share of 38.70% in 2017
The battery type segment is classified into lithium-ion based, nickel-based, lead-acid based, sodium-ion and others. The lead-acid based segment dominated the market in 2017.Lead-acid batteries are basically used for SLI applications in conventional vehicles because of their higher cold cranking performance, low cost, and increased reliability. They are less expensive and simple in manufacturing, capable of high discharge rates, minimal maintenance and superior starting capacity.
The electric vehicle segment is dominating the market and valued around USD 19.23 Billion in 2017
The vehicle type segment is segmented intopassenger vehicles, commercial vehicles, electric vehicles and others. The electric vehicle segment is dominating the market with the highest share in 2017. Rising number of electric cars on the road would promote the growth of privately and publicly accessible charging infrastructure.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. The North America is dominating the market with the highest market share of 44.20% in 2017. This dominance is due to presence of strong manufacturing base of lead-acid battery which is expected to promote market growth in the region. Also, increasing demand for electric vehicles due to increase in government regulations is likely to spur the growth of electric vehicles segment over the forecast period.
The major players ofmarketinclude East Penn Manufacturing Co., Inc., Camel Group Co., Ltd., Exide Technologies, FIAMM S.p.A., Fengfan Co., Ltd., Douglas Battery, Zhejiang Narada Power Source Co. Ltd., Johnson Controls Inc., The Furukawa Battery Co., Ltd., and Shandong Sacred Sun Power Sources Co., Ltd., Zhejiang Haijiu Battery Co., Ltd., Chaowei Power Holdings Ltd., Hitachi Ltd., Shandong Sacred Sun Power Sources Co., Ltd., and GS Yuasa Corporation.For instance, in February 2019, Electric car maker Tesla has intended to acquire US-based energy storage company Maxwell Technologies so as to help the electric automaker to improve its batteries and lower the costs as more competitors enter the market.
Customization of the Report:This report can be customized to meet the client’s requirements. Please connect with our sales team(firstname.lastname@example.org),who will ensure that you get a report that suits your needs.
SEO and attentive market research analyst and consistently obliges to introduce and improve existing business strategies and draw salutary lessons from each project. Expertise in search engine friendly web services which appeals users.