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Global Automotive Battery Market (2017-2024)- Research Nester

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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Entering New Emerging <strong>Market</strong>s<br />

Launch & Viability of Product<br />

Competitive Analysis<br />

Industry Analysis<br />

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Power<br />

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Catered<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 />

<br />

o<br />

o<br />

o<br />

o<br />

o<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<br />

<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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