According to the new market research report by IndustryARC titled “Automotive Battery Market: By Vehicles (Passenger Vehicle, Electric Vehicle and Commercial Vehicles); By Function (SLI, Electric Propulsion) By Battery (Lead-Acid, Lithium – Ion, Nickel Cadmium and Others), and By Geography – Forecast – (2017-2023)”, the market is driven by the increasing environmental concerns about emissions from traditional automobiles and increasing stress on fossil reserves.
APAC held the largest market share in the Automotive Battery Market:
The APAC region holds the largest market share and growth in the Automotive Battery Market and is anticipated to reach $17.5 billion by 2023 at a CAGR of 10.8%. In order to keep up with the growing demand, several global auto makers have started investing heavily in various segments of the industry during the last few months, which simultaneously escalated the emergence of new technologies, thereby driving the automotive battery market in the region.
Automotive Battery Market Analysis done in the full report:
• Firstly, the value addition starts from raw material suppliers that are either manufacturers or providers. After extracting the raw materials from the suppliers, various parts of the automotive battery is designed. After component manufacturing, these parts are integrated as a whole.
• Many automotive batteries are also manufactured according to the type of vehicle such as automotive batteries and many a vehicle battery for passenger vehicles, namely battery electric vehicles, hybrid electric vehicles and plug-in hybrid electric vehicles along with internal combustion engine vehicles.
• The equipment is made available to the final integrators, generally through regional sales networks or through distributors. Major companies operate through regional sales representatives, whereas smaller companies operate through distributors. This is because setting up a regional sales office in each country would require large investments. Smaller companies which generally have smaller profit margins do not have the resources to set up regional offices in every country. Hence, operating through distributors is relatively easy in such situations.
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Excerpts on Market Growth Factors:
• Automotive Battery Market is driven by the need for energy efficient batteries in various segments of automobiles. Therefore, significant increase in the use of lithium-ion batteries in automobiles will accelerate the growth of the market.
• Growing environmental awareness, innovation, consumer acceptance and government support are creating demand for electric vehicles, thus accelerating the automotive battery market in these regions.
• The growth for Automotive Market for electric vehicles is triggered by the rising demand for electric vehicles coupled with several investments by OEM for the development of these vehicles. That means increasing opportunities for electric vehicles will contribute to the growth during the forecast period.
• The Electric Vehicle Market is projected to remain the fastest growing vertical for automotive battery during the forecast period.
• With the requirements of carbon emission reduction and energy efficient batteries, there is a huge growth for electric vehicles, thus propelling the growth for automotive batteries.
• Rising disposable income in developing countries like China and India resulted in the increase in Sales for passenger vehicles, thereby further boosting the growth of the market.
• Availability of the infrastructure is one of the factors that is positively correlated with the growth of electric vehicles.
• Demand for electric and hybrid vehicles is soaring across the globe, thereby creating opportunity for the growth during the forecast period.
• The growth is primarily attributed to low cost and dependable services in adverse environmental conditions and efficient recycling ability.
• Hybrid heavy commercial vehicles market is growing owing to the increasing environmental concerns on emission from diesel powered vehicles.
• The adoption of these electric vehicles were driven by consumer demand, industry developments and government initiatives which would propel the growth as it provides clean and efficient transportation.
Key players of Automotive Battery Industry:
• Notable players in the Automotive Battery Market comprise of Panasonic Corporation, LG Chem, BYD Company Ltd; Samsung SDI Co. Ltd, and Automotive Energy Supply Corporation.
• Panasonic Corporation and LG Chem are analyzed to be the dominant players of the automotive battery market for electric vehicles. These companies are followed by BYD Company which stood third in the list of best automotive battery manufacturers globally market for electric vehicles.
• Johnson Controls, Inc. is the latest company to forayed into best auto battery sector as far as NiMH is concerned. The NiMH cell was developed using technologies from it’s Varta Battery Automotive Business in Europe.
• Bosch Gmbh Robert, Daimler Ag, Ford Global Tech Llc, Hitachi Ltd and many more are the major applicants.
Automotive Battery Market Report is segmented as indicated below:
• By Battery Type:
3. Nickel Cadmium
• By Battery Group Size
1. Start, Light & Ignition (SLI)
2. Electric Propulsion
• Automotive Battery Market By Vehicle Type
1. Passenger Vehicles
2. Electric Vehicles
3. Commercial Vehicles
• By Geography (Covers 11 + Countries)
• By Entropy
1. A123 Systems LLC
2. Exide Technologies, Inc
3. Tesla Motors Inc;
4. Automotive Energy Supply Corporation
5. Toshiba Corporation
6. SAFT Group SA
7. Delphi Automotive PLC
8. And 50+ Companies
A. Renewable Material Market in Automotive
B. Power Management IC Market
What can you expect from the report?
The Automotive Battery Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis (By Revenue & Volume)
12. Country level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis
Does IndustryARC customize these reports and charge additionally for limited customization?
Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
Any other major customizations can be discussed with our team, we can provide a separate quote based on your requirement. You can drop in an e-mail to [email protected] to discuss more about our consulting services.
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