Global Automotive Battery Market is expected to reach USD 95.57 billion by 2025 as the scope and its applications are rising enormously across the globe. Automotive Battery is a termed as a rechargeable battery that supplies electrical current to a motor vehicle to start an engine. Alternator supply power for the cars electrical system. The automotive battery industry is expected to grow at a CAGR of 7.9% in the forecast period.

Rising number of the electric cars on the road, high investment in research and development sector, and rising government initiative to reduce carbon emission are documented as major factors of Automotive Battery Market that are estimated to enhance the growth in the years to come. Also, vast growth in automotive sector, rising consumer preference for pollution free cars, and high demand from developing countries are another factors estimated to grow in coming years. Automotive Battery Market is segmented based on vehicle type, battery type, and region.

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Commercial vehicles, passenger vehicles, two wheelers, electric vehicles, and others are the vehicle types that could be explored in Automotive Battery in the future period. Commercial vehicles may be heavy commercial vehicles and light commercial vehicles. Passenger vehicle sector accounted for the largest market share of Automotive Battery and is estimated to lead the overall market in the coming years. Electric vehicles include plug-in hybrid electric vehicle (PHEV) and battery electric vehicle (BEV). In 2016, China sold more than 40% of the total electric cars. However, the electric vehicle sector is estimated to grow at fastest pace in the coming years.

There are various types of batteries like nickel cadmium, lead acid battery, lithium ion, and others could be explored in Automotive Battery in the foremost period. Lead acid battery may be sealed and flooded. Lead-acid battery sector accounted for the largest market share and is estimated to lead the overall market in the coming years. These are efficient of high discharge rate, effortless in manufacturing, higher starting capability, and nominal maintenance. Lithium-ion (Li-ion) batteries are commonly used rechargeable batteries with double the energy density of Nickel-Cadmium batteries and superior constancy and security. Lithium (Li) is the lightest of all metals, has the maximum electrochemical potential, and offers the high energy density for weight.

Globally, Asia Pacific accounted for the largest market share and is estimated to lead the market in the coming years. Also, estimated to grow at highest CAGR of 9.2% in the years to come. This may be because of high demand in developing countries, high sale if motorcycles, commercial cars, and passenger cars, and production of enhanced and cost-efficient vehicles. The developing countries like India and China are the major consumers of Automotive Battery in this region.

However, in 2016, North America led the market. This may because or presence of key manufacturers in the region and rising demand for electric vehicles in Mexico and the United States. The United States is a major consumer of Automotive Battery in the region, a government initiative to reduce carbon emission by manufacturing eco-friendly products. Instead, Europe is also estimated to have a positive influence on the future growth.

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The key players of Automotive Battery Market are GS Yuasa Corporation, A123 Systems, Exide Technologies, BYD Co. Ltd., EnerSys, and East Penn Manufacturing Company. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.

Market Segment:

Automotive Battery Type Outlook (Revenue, USD Billion, 2014 - 2025)
• Lithium-ion based
• Lead-acid based
• Construction type
• VRLA battery
• Flooded
• Product
• SLI
• Stationary
• Motive
• Nickel-based
• Sodium-ion
• Others

Automotive Battery: Vehicle Type Outlook (Revenue, USD Billion, 2014 - 2025)
• Passenger vehicles
• Commercial vehicles
• Electric vehicles
• BEV
• PHEV
• Others

Automotive Battery: Regional Outlook (Revenue, USD Billion, 2014 - 2025)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Asia Pacific
• China
• Japan
• India
• South America
• Brazil
• Middle East and Africa (MEA)

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There is a discernable increase in demand for vehicles including two-wheelers and cars across the globe owing to the economic outburst that has made it possible for people to afford fuel and maintenance charges of vehicles. Subsequently, this has led to a myriad of opportunities in the global automotive battery market valuation of which is poised to attain a massive figure of $34,967.2 million by the end of 2023 with a healthy compound annual growth rate (CAGR) of 8.5% during the forecast period of 2018 to 2023, according to a recently published report by IndustryARC.

The business intelligence report is compiled with well-marshaled and analyzed facts and statistics along with the challenges and opportunities that are foreseeable in the future. It provides a detailed peek into the prospects of the business along with the customer-base and pricing environment in all the regions worldwide. The report is titled, “Automotive Battery Market: By Battery Type (Lead Acid Batteries, Lithium Ion Batteries, Nickel Cadmium, Others); By Function (Electric Propulsion, SLI); By Engine Type (ICE vs EV); By Vehicle Type (Passenger, Two wheeler, Commercial); By Geography - Forecast (2018-2023).”

Automotive Battery Market: Leading Segments

The geographical market study by the market analyst has led to an inference that APAC had the maximum automotive battery market share in 2017, and the market will prove to be lucrative through to 2025 and witness an impressive revenue of $17,516.90 million by 2023. This is much attributed to the economic growth in the region along with the proliferating urbanization in countries such as China, India, Indonesia, Malaysia, and the Philippines. Furthermore, the pricing of vehicles in the region is favorable to the customers which enables them to make the purchase and support the automotive battery market.

The automotive battery market is segmented on the basis of applications of these batteries in passenger, commercial, and electric vehicles. Owing to the propitious progress in the electric vehicles segment, the application of automotive batteries is set to observe a staggering CAGR of 23.8% in electric vehicles over the forecast period. The world is leapfrogging towards alternative sources of energy due to the threatening depletion of the conventional sources of energy. This is leading to growth in production of electric vehicles which will substantially stroke the automotive battery market.

Security Screening Market: Market Trends and Growth Drivers

Growing Demand for Transportation –

With the population outflow, the demand for transportation is growing at a rapid rate. Furthermore, there have been changes in city structures. The industries have moved out of the urban regions, which is the main reason a multitude of people travel miles for work. This is leading to demand influx in the transportation sector. Evidently, with increasing transportation, battery power consumption grows, and a vehicle demands battery replacement faster. This is leading to revenue growth in the automotive battery market.

Environmental Concerns Leading to Demand Influx –

Conventional fuels are causing serious concerns about the environment, and governments worldwide are taking actions to reduce air pollution. According to the World Health Organization (WHO), 9 out of 10 people are breathing polluted air, and 4.3 million deaths are attributed to air pollution . With these disquieting figures, the world is in dire need to implement air pollution reducing methods one of which is the incorporation of EVs. The future foresees an exponential expansion of the EVs market which will further flourish the automotive battery market.

Lithium-Ion Battery Market Size Set to Swell –

The renewable and clean source of energy trend will make the vendors in the automotive battery market take a leap into the lithium-ion battery segment which is projected to grow at a rapid rate during the forecast period. The robust growth potential in the lithium-ion battery segment as gauged by the market analyst will make more vendors venture into the automotive battery market.

Innovations In the Automotive Battery Market –

There is a concern about the electrode life and electrolytic consumption in automotive batteries. However, there is a lot of research in progress to improve battery performance. This may increase the cost-prize of batteries; however, owing to the enhanced efficiency, the customer-base will make the purchase which will help vendors reap better returns on investment (ROI).

Automotive Battery Market: Competitive Landscape

Some of the key companies identified in the security screening market intelligence report that are crusading for market share are Panasonic Corp., LG Chem, BYD Company, Bosch Gmbh Robert, Daimler Ag, Ford Global Tech Llc, Hitachi Ltd., and a few others.

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