Global Automotive Battery Market (2017-2024)- Research Nester
Global automotive battery market demand,Growth, Industry Analysis, size & forecast
Global automotive battery market demand,Growth, Industry Analysis, size & forecast
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<strong>Global</strong> <strong>Automotive</strong> <strong>Battery</strong> <strong>Market</strong>: Industry<br />
Insights & Opportunity Evaluation, <strong>2017</strong>-<br />
<strong>2024</strong><br />
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<strong>Global</strong> <strong>Automotive</strong> <strong>Battery</strong> <strong>Market</strong> Overview<br />
<strong>Automotive</strong> battery is widely used for starting, lighting and ignition<br />
purposes in automobiles. These batteries also provide voltage supply<br />
to vehicle accessories such as radio, music players, air conditioners,<br />
wipers and charging plugs. Increasing vehicle production coupled with<br />
rising adoption of vehicle electrification are anticipated to be the<br />
major factors that will create vast opportunities for key players in<br />
automobile lead acid battery market.<br />
<strong>Market</strong> Size and Forecast<br />
The global automotive battery market is expected to grow at<br />
a CAGR of 5.3% over the forecast period i.e. <strong>2017</strong>-<strong>2024</strong>. The<br />
automotive battery market is driven by various factors such as<br />
increasing number of automobiles on road, rising infrastructure and<br />
as well as rising urbanization.<br />
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Regionally, Asia-Pacific and North America regions constitute the<br />
largest market. Asia-Pacific accounts for the highest market share in<br />
terms of revenue. Further, Asia-Pacific is anticipated to witness<br />
significant growth owing to rapid industrialization accompanied by<br />
increasing manufacturing activities in this region by the end of <strong>2024</strong>.<br />
The major countries witnessing the demand for automotive battery are<br />
China, India and Japan. Furthermore, Asia-Pacific automotive battery<br />
market is believed to witness a robust growth on the account of<br />
increasing automotive sales in India and China. In addition, China<br />
ranks the fastest growing automotive battery market owing to the<br />
highest global demand for both commercial and passenger vehicles.<br />
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Asia-Pacific region is to be trailed by North America and Europe.<br />
North America holds the second largest share in automotive battery<br />
and is likely to exhibit high growth avenues with U.S. automotive<br />
battery market. Further, increasing research and development in<br />
automotive battery along with government initiatives for electric<br />
vehicles in this region are the factors propelling the growth of<br />
automotive battery. Europe market for automotive battery is expected<br />
to witness a robust growth over the forecast period. Moreover,<br />
Germany and U.K are anticipated to capture the largest share in the<br />
automotive battery market in this region over the forecast period.<br />
Middle East and Africa and Latin America region is also projected to<br />
fuel the demand for automotive battery over the forecast period.<br />
<strong>Market</strong> Segmentation<br />
Our in-depth analysis segmented the global automotive battery market<br />
in the following segments:<br />
<br />
<br />
<br />
<br />
<br />
<br />
By Vehicle Type<br />
Two-wheeler<br />
Three-wheeler<br />
Passenger vehicle<br />
Commercial vehicle<br />
Electric vehicle<br />
By <strong>Battery</strong> Type<br />
Lithium ion<br />
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Nickel-metal hydride<br />
Nickel-cadmium<br />
Gasoline<br />
Lead-acid<br />
<br />
By Region<br />
<strong>Global</strong> automotive battery market is further classified on the basis of<br />
region as follows:<br />
North America (U.S. & Canada) <strong>Market</strong> size, Y-O-Y growth &<br />
Opportunity Analysis<br />
Latin America (Brazil, Mexico, Rest of Latin America) <strong>Market</strong> size, Y-<br />
O-Y growth & Opportunity Analysis<br />
<br />
<br />
<br />
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,<br />
Netherlands & Luxembourg, Rest of Western Europe) <strong>Market</strong> size, Y-<br />
O-Y growth & Opportunity Analysis<br />
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand,<br />
South Korea &Rest of Asia-Pacific) <strong>Market</strong> size, Y-O-Y growth &<br />
Opportunity Analysis<br />
Middle East and Africa (GCC, North Africa, South Africa and Rest of<br />
Middle East and Africa) <strong>Market</strong> Size and Y-O-Y Growth Analysis<br />
Growth Drivers and Challenges<br />
Riding on the back of growing automotive industry, the automotive<br />
battery market is anticipated to show a tremendous growth over the<br />
forecast period. Further, rising demand for vehicles such as trucks,<br />
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cars, two-wheelers and others are envisioned to bolster the growth of<br />
global automotive battery market. Moreover, increasing<br />
environmental concerns coupled with inadequate oil prices has forced<br />
the consumers across the globe to use electric powered vehicles.<br />
Governments from various countries are also promoting the adoption<br />
of alternative fuel vehicles to reduce the dependence on oil imports;<br />
thus, automotive batteries are also widely used in electric powered<br />
vehicles. This is believed to foster the growth of automotive batteries<br />
over the forecast period.<br />
Further, integration of features in automobiles like hands free calling,<br />
state of art sensors and car infotainment system have flourished the<br />
demand for automotive battery. Moreover, the new fuel saving<br />
technologies such as smart hybrid vehicle system (SHVS) are also<br />
leading to higher battery usage. These factors are envisioned to bolster<br />
the growth of automotive battery market.<br />
Likewise, rising personal disposable income of developing economies<br />
such as India and China has increased the sales of two wheelers in<br />
these highly populated countries owing to high preference of such<br />
vehicles as a mode of transportation, which will further boost the<br />
growth of automotive battery in these countries.<br />
However, automotive battery industries require high energy<br />
consumption and are responsible for pollution. Further, government<br />
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egulations associated with the environmental concerns can restrain<br />
the market growth of automotive battery over the forecast period.<br />
Key players<br />
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<br />
The major key players for automotive battery market are as follows<br />
Tesla Motors<br />
Company Overview<br />
Key Product Offerings<br />
Business Strategy<br />
SWOT Analysis<br />
Financials<br />
Douglas <strong>Battery</strong><br />
East Penn Manufacturing Co.<br />
Exide Technologies<br />
Fengfan Co. Ltd.<br />
Johnson Controls Inc.<br />
The Furukawa <strong>Battery</strong> Co.<br />
Zhejiang Haijiu <strong>Battery</strong> Co.<br />
Zhejiang Narada Power Source Co.<br />
Fiamm SPA<br />
Chaowei Power Holdings Ltd.<br />
Hitachi Ltd.<br />
Scope and Context<br />
Overview of the Parent <strong>Market</strong><br />
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Analyst View<br />
Segmentation<br />
<br />
<br />
<br />
The global automotive battery market is segmented as follows:<br />
By Vehicle Type <strong>Market</strong> Size & Y-O-Y Growth Analysis<br />
By <strong>Battery</strong> Type <strong>Market</strong> Size & Y-O-Y Growth Analysis<br />
By Region <strong>Market</strong> Size & Y-O-Y Growth Analysis<br />
<strong>Market</strong> Dynamics<br />
Supply & Demand Risk<br />
Competitive Landscape<br />
Porter’s Five Force Model<br />
Geographical Economic Activity<br />
Key Players (respective SWOT Analysis) and their Strategies and<br />
Product Portfolio<br />
To know more about <strong>Automotive</strong> <strong>Battery</strong> <strong>Market</strong>,<br />
please visit: http://www.researchnester.com/reports/automotivebattery-market-global-demand-analysis-opportunity-outlook-<strong>2024</strong>/342<br />
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