PUBLISHER: IMARC | PRODUCT CODE: 1308250
PUBLISHER: IMARC | PRODUCT CODE: 1308250
Automotive Battery Market by Battery Type (Lead Acid, Lithium Ion, and Others), Vehicle Type (Passenger Vehicles, Commercial Vehicles, Electric Vehicles, and Others), and Region 2023-2028
Market Overview:
The global automotive battery market size reached US$ 48 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67 Billion by 2028, exhibiting a growth rate (CAGR) of 5.40% during 2023-2028. Increasing demand for electric vehicles, stringent emission regulations and incentives provided by governments of various nations, advancements in battery technology, and availability of financial incentives for EV buyers represent some of the key factors driving the market.
An automotive battery is a vital component that powers the electrical systems of vehicles, playing a critical role in their operation. It typically comprises a plastic case housing a series of cells, each containing positive and negative plates made of lead and lead oxide. These plates are immersed in an electrolyte solution consisting of sulfuric acid and water. When the vehicle's engine is off, the battery acts as a chemical storage device. The automotive battery offers several advantages, including its ability to store energy and deliver it as needed, enabling the vehicle's electrical systems to function optimally. It also provides the necessary power to start the engine, ensuring reliable ignition. Additionally, the battery acts as a stabilizer, absorbing voltage spikes and ensuring a consistent supply of electricity to various components. Currently, there are several types of product variants available, such as lead-acid, absorbent glass mat (AGM), and lithium-ion batteries.
Automotive Battery Market Trends:
The surging demand for electric vehicles (EVs) and stringent emission regulations and incentives provided by governments of various nations are some of the primary factors creating a positive outlook for the market. Moreover, advancements in battery technology, such as improved energy density and longer lifespan, and the growing infrastructure for electric charging stations are propelling the market growth. Besides this, the availability of financial incentives for EV buyers and rising consumer awareness regarding the environmental benefits of EVs are contributing to the market growth. Additionally, the declining costs of lithium-ion batteries and burgeoning investments in research and development (R&D) activities by battery manufacturers are fueling the market growth. In line with this, the expanding network of automotive manufacturers entering the EV market and growing investments in battery production facilities are accelerating the market growth. Other factors, such as the rising focus on renewable energy and the integration of batteries in energy storage systems, are boosting the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global automotive battery market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on battery type and vehicle type.
Battery Type Insights:
Lead Acid
Lithium Ion
Others
The report has provided a detailed breakup and analysis of the automotive battery market based on the battery type. This includes lead acid, lithium ion, and others. According to the report, lead acid represented the largest segment.
Vehicle Type Insights:
Passenger Vehicles
Commercial Vehicles
Electric Vehicles
BEV (Battery Electric Vehicles)
PHEV (Plug-in Hybrid Electric Vehicles)
Others
A detailed breakup and analysis of the automotive battery market based on the vehicle type has also been provided in the report. This includes passenger vehicles, commercial vehicles, electric vehicles (battery electric vehicles and plug-in hybrid electric vehicles), and others. According to the report, passenger vehicles accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for automotive battery. Some of the factors driving the Asia Pacific automotive battery market included growing preference for lightweight batteries to improve vehicle efficiency, the increasing adoption of hybrid electric vehicles (HEVs), and the rising popularity of autonomous vehicles.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global automotive battery market. Detailed profiles of all major companies have been provided. Some of the companies covered include A123 Systems LLC, Contemporary Amperex Technology Co. Limited., East Penn Manufacturing Company, Enersys, Exide Industries Limited, GS Yuasa International Ltd., Hitachi Ltd., LG Chem Ltd, Panasonic Holdings Corporation, Robert Bosch LLC, Samsung SDI Co. Ltd. etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global automotive battery market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global automotive battery market?
- What is the impact of each driver, restraint, and opportunity on the global automotive battery market?
- What are the key regional markets?
- Which countries represent the most attractive automotive battery market?
- What is the breakup of the market based on the battery type?
- Which is the most attractive battery type in the automotive battery market?
- What is the breakup of the market based on the vehicle type?
- Which is the most attractive vehicle type in the automotive battery market?
- What is the competitive structure of the global automotive battery market?
- Who are the key players/companies in the global automotive battery market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Automotive Battery Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Battery Type
- 6.1 Lead Acid
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Lithium Ion
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Others
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Vehicle Type
- 7.1 Passenger Vehicles
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Commercial Vehicles
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Electric Vehicles
- 7.3.1 Market Trends
- 7.3.2 Key Segments
- 7.3.2.1 BEV (Battery Electric Vehicles)
- 7.3.2.2 PHEV (Plug-in Hybrid Electric Vehicles)
- 7.3.3 Market Forecast
- 7.4 Others
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia-Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 Drivers, Restraints, and Opportunities
- 9.1 Overview
- 9.2 Drivers
- 9.3 Restraints
- 9.4 Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 A123 Systems LLC
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.1.3 SWOT Analysis
- 13.3.2 Contemporary Amperex Technology Co. Limited.
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.2.3 Financials
- 13.3.3 East Penn Manufacturing Company
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.4 Enersys
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.4.3 Financials
- 13.3.4.4 SWOT Analysis
- 13.3.5 Exide Industries Limited
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.5.3 Financials
- 13.3.6 GS Yuasa International Ltd.
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.6.3 Financials
- 13.3.6.4 SWOT Analysis
- 13.3.7 Hitachi Ltd.
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.7.3 Financials
- 13.3.7.4 SWOT Analysis
- 13.3.8 LG Chem Ltd
- 13.3.8.1 Company Overview
- 13.3.8.2 Product Portfolio
- 13.3.8.3 Financials
- 13.3.8.4 SWOT Analysis
- 13.3.9 Panasonic Holdings Corporation
- 13.3.9.1 Company Overview
- 13.3.9.2 Product Portfolio
- 13.3.9.3 Financials
- 13.3.9.4 SWOT Analysis
- 13.3.10 Robert Bosch LLC
- 13.3.10.1 Company Overview
- 13.3.10.2 Product Portfolio
- 13.3.10.3 SWOT Analysis
- 13.3.11 Samsung SDI Co. Ltd.
- 13.3.11.1 Company Overview
- 13.3.11.2 Product Portfolio
- 13.3.11.3 Financials
- 13.3.11.4 SWOT Analysis
- 13.3.1 A123 Systems LLC
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
List of Figures
- Figure 1: Global: Automotive Battery Market: Major Drivers and Challenges
- Figure 2: Global: Automotive Battery Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Automotive Battery Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Automotive Battery Market: Breakup by Battery Type (in %), 2022
- Figure 5: Global: Automotive Battery Market: Breakup by Vehicle Type (in %), 2022
- Figure 6: Global: Automotive Battery Market: Breakup by Region (in %), 2022
- Figure 7: Global: Automotive Battery (Lead Acid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 8: Global: Automotive Battery (Lead Acid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 9: Global: Automotive Battery (Lithium Ion) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Automotive Battery (Lithium Ion) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Automotive Battery (Other Battery Types) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Automotive Battery (Other Battery Types) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Automotive Battery (Passenger Vehicles) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Automotive Battery (Passenger Vehicles) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Automotive Battery (Commercial Vehicles) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Automotive Battery (Commercial Vehicles) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Automotive Battery (Electric Vehicles) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Automotive Battery (Electric Vehicles) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Automotive Battery (Other Vehicle Types) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Automotive Battery (Other Vehicle Types) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: North America: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: North America: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: United States: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: United States: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Canada: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Canada: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Asia-Pacific: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Asia-Pacific: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: China: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: China: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Japan: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Japan: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: India: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: India: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: South Korea: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: South Korea: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: Australia: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: Australia: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Indonesia: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Indonesia: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: Others: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: Others: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: Europe: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: Europe: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: Germany: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: Germany: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: France: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: France: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: United Kingdom: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: United Kingdom: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Italy: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Italy: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Spain: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Spain: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: Russia: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: Russia: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: Others: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: Others: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Latin America: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Latin America: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Brazil: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Brazil: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Mexico: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Mexico: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Others: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Others: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Middle East and Africa: Automotive Battery Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Middle East and Africa: Automotive Battery Market: Breakup by Country (in %), 2022
- Figure 69: Middle East and Africa: Automotive Battery Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Global: Automotive Battery Industry: Drivers, Restraints, and Opportunities
- Figure 71: Global: Automotive Battery Industry: Value Chain Analysis
- Figure 72: Global: Automotive Battery Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Automotive Battery Market: Key Industry Highlights, 2022 & 2028
- Table 2: Global: Automotive Battery Market Forecast: Breakup by Battery Type (in Million US$), 2023-2028
- Table 3: Global: Automotive Battery Market Forecast: Breakup by Vehicle Type (in Million US$), 2023-2028
- Table 4: Global: Automotive Battery Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 5: Global: Automotive Battery Market: Competitive Structure
- Table 6: Global: Automotive Battery Market: Key Players
