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Global Automotive Battery Market is projected to reach USD 115.55 billion by 2028, at a CAGR of 8.5% between 2016 and 2028.

The Global Automotive Battery Market is projected to reach USD 115.55 billion by 2028, at a CAGR of 8.5% between 2016 and 2028. According to Quince Market Insights, the features of an automotive battery have evolved drastically over the years, as modern engines are smaller in displacement and use lower-viscosity engine-oil, this has increased the demand for vehicles as lowering the displacement lowers the overall cost. This is one of the factors influencing the demand for automotive batteries.

The report provides a detailed analysis of emerging market trends, market size, and forecasting, detailed overview of major companies operating in the market, impact factors influencing the market, etc.

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Increasing demand for automotive batteries

Automotive batteries are generally made of lead alloy grid filled with sponge lead (cathode plates) or coated with lead dioxide (anode). Each of the cells are filled with a sulfuric acid solution, which is the electrolyte. This combines together to supply power to the required part in the vehicle. Passenger and commercial vehicles use automotive batteries, as it supplies more power to the engine, ignites the plug stronger, and stabilizes the electricity supply faster.

The demand for automotive batteries is increasing, as countries of developing regions such as Asia Pacific and South America are witnessing rapid economic growth. The rising demand for these batteries from the global automotive sector is a key driver for the automotive battery market.

Market Overview:

The automotive battery market is one of the established markets. The market is expected to witness significant growth in the coming years. The rapid expansion of the automotive industry in emerging economies, such as Mexico, Vietnam, Indonesia, India, and Thailand is one of the main factors responsible for the growth of the automotive battery market. Moreover, growing consumer preference for zero-emission and low emission electric and hybrid vehicles are driving the automotive battery market.

In addition, strict government emission standards are leading to the promotion of electric-powered vehicles. Due to this, major automotive manufacturers are producing new electric-powered vehicles in all segments, including luxury, sports, etc.

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Asia Pacific is expected to witness high demand for automotive batteries during the forecast period

The Asia Pacific is the fastest-growing market for automotive batteries, owing to the high demand for vehicles from rapidly growing economies, such as Japan, India, etc. Japan is the largest automotive battery market in Asia due to a large population base, increasing vehicle demand, and high economic growth as a result of the availability of low-cost labor, along with easy availability of raw material and components. This is expected to propel the automotive battery market growth in the region.

Companies Covered:

1. Panasonic Corporation
2. Samsung SDI Co. Ltd.
3. Johnson Controls International PLC
4. Kokam Co. Ltd.
5. Toshiba Corporation
6. LG Chem Power Inc.
7. Sanyo Electric Co. Ltd
8. A123 Systems
9. LLC, BYD Co., Ltd.
10. East Penn Manufacturing Company
11. EnerSys
12. Exide Technologies

Market Segmentation:

By Battery Type:
Lead Acid
Nickel Metal Hydride
Lithium-Ion
Others

By Battery Technology:
SLI
AGM
Deep Cycle
Wet Cell
Others

By Vehicle Type:
Passenger
Commercial
Electric
Others

By Region:
North America
By Country (US, Canada, Mexico)
By Battery Type
By Battery Technology
By Vehicle Type
Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Europe)
By Battery Type
By Battery Technology
By Vehicle Type
Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Battery Type
By Battery Technology
By Vehicle Type
Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Battery Type
By Battery Technology
By Vehicle Type
Middle East
By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
By Battery Type
By Battery Technology
By Vehicle Type
Rest of the World
By Region (South America, Africa)
By Battery Type
By Battery Technology
By Vehicle Type

Key Questions Answered By This Report

• How is the automotive battery market evolving?
• What is driving and restraining automotive battery dynamics?
• How will each automotive battery submarket segment grow over the forecast period and how much Sales will these submarkets account for in 2028?
• How will market shares of each automotive battery submarket develop from 2019-2028?
• Which automotive battery submarket will be the main driver of the overall market from 2019-2028?
• How will political and regulatory factors influence regional automotive battery markets and submarkets?
• Will leading national automotive battery broadly follow macroeconomic dynamics, or will individual country sectors outperform the rest of the economy?
• How will market shares of the national markets change by 2028 and which nation will lead the market in 2028?
• Who are the leading players and what are their prospects over the forecast period?
• How will the sector evolve as alliances form during the period between 2019 and 2028?

Reasons to buy this report:

• Market size estimation of the automotive battery market on a regional and global basis
• The unique research design for market size estimation and forecasts
• Profiling of the major companies operating in the market with key developments
• Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet the specific requirements:
• By segment
• By sub-segment
• By Region/Country

ABOUT US:
QMI has the most comprehensive collection of market research products and services available on the web. We deliver reports from virtually all major publications and refresh our list regularly to provide you with immediate online access to the world’s most extensive and up-to-date archive of professional insights into global markets, companies, goods, and patterns.

Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +91 – 9850603687 / 7972869557
Email: [email protected]
Web: www.quincemarketinsights.com

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Automotive Battery Market Industry Development and Top Key Players Analysis 2016-2028