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Automotive Battery Market Outlook, Opportunities, Challenges, Trends, Size Growth and Future Prospects, 2023 Including Key Players Kokam, BYD, Toshiba, LG Chem Power, Sanyo, Li-tec Battery GmbH, Johnson Controls
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The application of batteries in the vehicles is altering the business landscape, at technology, supplier, and regional level. This will have major implications not only for large battery corporations, but also for all those involved in the battery production value chain.
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The decreasing crude oil reserves and environmental impact of the conventional vehicles are the major factors driving the growth of the automotive battery market. With the decreasing crude reserves, the demand for economical transportation technologies has attracted investment in this market. The government of major countries have encouraged adoption of hybrid vehicles that utilize the electric battery. The stringent environmental regulations in the European Union have encouraged the use of battery run vehicles. These factors are expected to create growth opportunities for the automotive battery market.
Global Automotive Battery Market Segmentation
By Application
• Passenger car
• Commercial vehicles
• Hybrid and electric vehicles
• Two-wheelers
By Type
• Lithium ion (Li-ion)
• Nickel–metal hydride (Ni-MH)
• Nickel–cadmium (Ni-Cd)
• Gasoline
• Lead-acid
Some of the major automotive battery manufacturers include Kokam, BYD, Toshiba, LG Chem Power, Sanyo, Li-tec Battery GmbH, Johnson Controls, among others.
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