The Automotive Battery Market is expected to grow at a CAGR of 5.4% during the forecast period 2021-2027. With rising sales of automobiles such as electric vehicles, manufacturers of automotive batteries are focusing on extending the capacity of these batteries by adopting newer technologies and advancements. In parallel to the advent of battery technologies that enable quick recharging and power-saving options, automobile manufacturers and Original Equipment Manufacturer (OEMs) are also being compelled to develop vehicle components & systems with optimized power consumption.
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The major factor that augments the global automotive battery market includes the increasing automobile sales, rising adoption of vehicle electrification, growing battery sales in the replacement market, and growing lead-acid battery usage in the automobile sector. In addition, growing fuel cell-based batteries, R&D on newer battery technologies such as aluminum ion and aluminum-air batteries, and rising sales of electric vehicles in the forecast year act as an opportunity and may augment the global automotive battery market in the near future. However, some factors such as lack of charging stations for electric vehicles, the heavy weight of batteries used in electric vehicles, and environmental concerns related to batteries used in an automobile such as lead-acid batteries are hindering the market growth.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Automotive Battery, By Types
- Lead Acid Battery
- Lithium-Ion Battery
- Others
Global Automotive Battery Market by Fuel Type
- Internal Combustion (IC) Engine Vehicle
- Electric Vehicle
Global Automotive Battery Market by Vehicle Type
- Passenger Cars
- Commercial Vehicles
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- A123 Systems LLC
- Acumuladores Moura SA
- BYD Co. Ltd.
- C&D Technologies Inc.
- CSB Enetrgy Technology Co. Ltd
- EAST PENN Manufacturing Co.
- Enersys
- EXIDE Technologies
- First National Battery
- GS Yuasa Corp.
- Hitachi Ltd.
- MidacSPA
- Northstar Battery
- Panasonic Corp.
- Robert Bosch GmBH
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive battery market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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