Automotive Battery Market - by Type (Lead Acid Batteries, Lithium Ion Batteries, Nickel Metal Hybrid Batteries, and Others), Vehicle Type (Electric Bikes, Hybrid Cars, Electric Cars, and Others), and Application (Two/Three Wheeler’s Battery, Car And Light Van’s Battery, Heavy Motor Vehicles’ Battery, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

According to the report published by Zion Market Research, global Automotive Battery market was valued at approximately USD 47 billion in 2019, and is expected to generate revenue of around USD 85 billion by end of 2026, growing at a CAGR of around 8.7% between 2020 and 2026.

01-Oct-2020 | Number of pages: 110 | Report Code: ZMR-148 | Report Format : | Status : Published

Abstract

According to the report published by Zion Market Research, global Automotive Battery market was valued at approximately USD 47 billion in 2019, and is expected to generate revenue of around USD 85 billion by end of 2026, growing at a CAGR of around 8.7% between 2020 and 2026.

Global Automotive Battery Market: Overview

Automotive battery is a battery that supplies electric energy to automobiles. It is also widely known as “rechargeable battery”. Automotive batteries are mainly used for SLI (starting, lighting, and ignition) systems and their main purpose is to start the system. Apart from starting the engine, automotive batteries supply the extra power required when the vehicle's electrical requirements exceed the supply from the charging system. Moreover, it is a stabilizer that balances potentially damaging voltage spikes.

Global Automotive Battery Market: Growth Factors

The global automotive battery market is proving its dominance in the vehicle market owing to its increasing demand for batteries. These batteries serve numerous automotive applications. Rising demand for hybrid, semi-hybrid, and fully electric vehicles will the growth of automotive vehicles market in a positive way in the near future. In addition, the new trend of providing latest vehicles with start–stop batteries will further boost the growth of the global market. Owing to the developments in the automotive batteries, the adoption rate of these batteries is increasing in passenger and commercial vehicles. All the above-mentioned factors are setting up the market for electric vehicles, which in turn results in growth of the global automotive battery market.

Global Automotive Battery Market: Segmentation

On the basis of battery type, the automotive battery market is segmented as lead acid batteries, lithium ion batteries, nickel metal hybrid batteries, and others. Further the market is segmented based on the vehicle type as electric bikes, hybrid cars, electric cars, and others. On the basis of application, the market can be segmented as two/three wheeler’s battery, car and light van’s battery, heavy motor vehicles’ battery, and others.

Global Automotive Battery Market: Regional Analysis

North America dominates the global market followed by Europe and Asia Pacific. Automotive battery market is anticipated to witness moderate but steady growth in the near future. The highest growth rate is observed in Asia Pacific and is expected to rise in the coming years. China on the other hand ranks as the fastest growing automotive battery market owing to the high demand for commercial and passenger vehicles in the region. In addition, the new trend of vehicles with latest features will be largely observed in Europe along with the U.S. and China. Increasing demands from other Asian countries such as India, Malaysia, Thailand, and the Philippines further impacts the global market growth in a positive way.

Global Automotive Battery Market: Competitive Players

Key players in the global automotive battery market include East Penn Manufacturing Co., Inc., Camel Group Co., Ltd., Exide Technologies, FIAMM S.p.A., Fengfan Co., Ltd., Douglas Battery, Zhejiang Narada Power Source Co. Ltd., Johnson Controls Inc., The Furukawa Battery Co., Ltd., and Shandong Sacred Sun Power Sources Co., Ltd., Some other major players in the market are Zhejiang Haijiu Battery Co., Ltd., Chaowei Power Holdings Ltd., Hitachi Ltd., Shandong Sacred Sun Power Sources Co., Ltd., and GS Yuasa Corporation.

Automotive Battery Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

The global automotive industry has seen significant growth in the last few years. The rising sales of passenger cars and commercial vehicles have been major driving factor for the global automotive battery market. Further, the emergence of electric vehicles is expected to play a vital role in the growth of the global automotive battery market.

According to the report published by Zion Market Research, global Automotive Battery market was valued at approximately USD 47 billion in 2019, and is expected to generate revenue of around USD 85 billion by end of 2026, growing at a CAGR of around 8.7% between 2020 and 2026. 

The North America Automotive Battery market held a major share in the global Automotive Battery market in 2019, mainly due to growing automotive sector. The increasing sale of commercial vehicles and electric vehicles has been driving the market.

Some main participants of the Automotive Battery market are East Penn Manufacturing Co., Inc., Camel Group Co., Ltd., Exide Technologies, FIAMM S.p.A., Fengfan Co., Ltd., Douglas Battery, and Zhejiang Narada Power Source Co. Ltd.


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