Global Automotive Battery Market Analysis By Product Type(Lead-acid, Nickel Metal-Hydride, Lithium-ion), By Vehicle Type & By Distribution Channel with Regional Outlook and Forecast to 2024

Market Overview

Growing number of electronic components in automobiles is recognized as one of the primary growth factors for automotive battery market. Passenger cars witnessed the high adoption of electronic solutions such as safety, comfort, infotainment systems on the back of technological advancements. This has significantly triggered the development of efficient and advanced battery technologies, which is driving the growth of automotive battery industry. Lithium-ion batteries are playing an important role in development of electric vehicle industry and are used in majority of electric vehicles, and it is likely to remain dominant over the forecast period. Several electric vehicle manufacturers such as Tesla and Nissan have invested heavily in this technology. Such capital investment and R&D activities will further propel the growth of automotive battery market growth.

Market Segmentation

By Product Type

• Lead-acid Battery 
• Nickel Metal-Hydride Battery 
• Lithium-ion Battery 

By Vehicle Type

• Passenger Cars
• Commercial Vehicles
• Two-Wheelers

By Distribution Channel

• OEMs (Original Equipment Manufacturers)
• Aftermarket

By Geography

• North America (US, Canada) {Market Share (%), Market Size (USD Billion)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion)}
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion)}

Automotive Battery Market Size & Forecast to 2024

Automotive battery market size is expected to reach USD 23.5 billion by 2024, growing at a compounded annual growth rate of 5.7% during the forecast period 2016-2024. Automotive battery market is largely driven by the Asia Pacific in terms of revenue share owing to a large automotive industry in the region. Whereas in North America & Europe the increasing adoption advances automotive technologies (automotive telematics, autonomous vehicles, and electric vehicles), there are high growth opportunities of the automotive battery market in these regions. 

Based on vehicle type, passenger cars accounted for the largest market share of more than 45% in 2016. Moreover, passenger cars are expected to be the fastest growing and most opportunistic segment over the forecast period owing to emerging market of electric vehicles.

Drivers & challenges to Battery Market Growth

According to the report, major driver in automotive battery market is emerging market of lithium ion battery powered electric vehicles around the world. Electric vehicles are highly attractive for their potential to reduce greenhouse gas emissions from vehicles and to minimize the dependence on oil. By 2020, more than one third of new vehicle sales will likely consist of hybrid-electric, plug-in hybrid, and all-electric models, which is likely to drive the growth of Li-ion battery market.

Further, the report states the challenges in global automotive battery market is high cost of efficient battery technologies such as lithium ion batteries for electric vehicles. The exponential growth of advanced automotive battery technology for the latter applications will depend largely on the cost, safety, life cycle and power density, which are the major challenges to develop cost efficient and high power density automotive batteries. 

Covered in this Research on Global Automotive Battery Market

The report covers the present ground scenario and the future growth prospects of the global automotive battery market for 2016-2024 along with the total revenue of automotive battery market in every region. We calculated the market size and revenue share on the basis of revenue generated per segment and region. The revenue forecast is given on the basis of number of market players and current growth rate of the market.

Global Automotive Battery Market Report has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global automotive battery market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global automotive battery market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Automotive Battery Companies

Our report comprises of the following companies as the key players in the global automotive battery market.

• Exide Technologies
• Johnson Controls International plc.
• Panasonic
• Robert Bosch
• Haldex Incorporated
• ZF TRW Automotive Holdings Corporation
• Hitachi Ltd.
• EnerSys
• Furukawa Electric Co. Ltd.
• Leoch International Tech
• GS Yuasa Corporation
• Crown Battery Manufacturing Company
• BYD Company

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this market study

• What is the total market size by 2024 and what would be the expected growth rate of sales?
• What is the total market size per segment and region in 2015-16 and what would be the expected market size per segment and region over the forecast period?
• What are the key market trends?
• What are the factors which are driving this market?
• What are the major barriers to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities for the existing and entry level players?
• What are the recent developments and business strategy of the key players?

Reasons to Buy this Market Research Report

• Facilitate decision-making based on strong historic and forecast data for automotive battery market
• Develop strategies based on the latest regulatory framework
• Position yourself to gain the maximum advantage of the automobile battery market’s growth potential
• Identify key partners and business development avenues across the globe
• Respond to your competitors’ business structure, strategy and prospects

We can provide two hour complimentary interaction with our analyst after the purchase of this market report. Details are imparted within the report.