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Automotive Battery Industry - Know the Prominent Factors That Will Help in Reshaping the Market Growth | Exide Technologies, Fengfan Co. Ltd., Johnson Controls Inc

06-08-2023 04:08 AM CET | Logistics & Transport

Press release from: Global Insight Services

Global Automotive Battery Market report from Global Insight Services is the single authoritative source of intelligence on Automotive Battery Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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An automotive battery is a battery that supplies electrical energy to a motor vehicle. Also known as a car battery, it is typically composed of six galvanic cells in a plastic housing. Each cell produces about 2.1 volts for a total voltage of 12.6 volts. automotive batteries are usually lead-acid type, which uses lead and lead dioxide in the cells.

Key Trends

The automotive battery industry is undergoing a period of significant change. The traditional lead-acid battery is being increasingly displaced by newer technologies such as lithium-ion and nickel-metal-hydride.

The main reason for this shift is that lead-acid batteries are not well suited to the demands of modern cars. They are heavy, have a limited capacity, and are not very efficient. Lithium-ion and nickel-metal-hydride batteries are much lighter, can store more energy, and are more efficient.

The other major trend in automotive battery technology is the move away from traditional wet-cell batteries to newer dry-cell batteries. Wet-cell batteries are more prone to leaking and require more maintenance. Dry-cell batteries are sealed and require no maintenance.

The trend towards lighter, more efficient, and easier-to-maintain batteries is likely to continue in the coming years. This will help to make electric and hybrid cars more viable options for consumers.

Report Overview-

Key Drivers

There are several key drivers of the automotive battery market.

Firstly, the increasing demand for electric vehicles is driving the need for batteries.

Secondly, the advancement of battery technology is enabling longer range and faster charging times for electric vehicles, making them more viable for consumers.

Finally, government incentives and regulations are encouraging the uptake of electric vehicles, which in turn is boosting the demand for automotive batteries.

Restraints & Challenges

The automotive battery market faces several restraints and challenges, which include the need for high initial investment, the lack of standardization, and the environmental concerns associated with lead-acid batteries.

The automotive battery market is highly capital intensive, as the batteries themselves are expensive to manufacture. In addition, the charging infrastructure required to support electric vehicles is also costly. The lack of standardization in the automotive battery market presents another challenge, as there is no single type of battery that is universally accepted by all automakers.

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This lack of standardization makes it difficult for consumers to compare and contrast different types of batteries, and makes it difficult for automakers to develop a common charging infrastructure.

Finally, the automotive battery market is also faced with environmental concerns associated with lead-acid batteries. Lead-acid batteries are the most common type of battery used in automotive applications, but they are also the most polluting.

Market Segments

The Automotive Battery Market is segmented by battery type, vehicle type and region. By battery type, the market is divided into lithium-ion based, lead-acid based and others. Based on vehicle type, it is bifurcated into passenger vehicles, electric vehicles and others. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.

Key Players

The Automotive Battery Market includes players such as Camel Group Co. Ltd., Douglas Battery, East Penn Manufacturing Co., Inc., Exide Technologies, Fengfan Co. Ltd., Johnson Controls Inc., THE FURUKAWA BATTERY CO., LTD., Zhejiang Haijiu Battery Co. Ltd, Zhejiang Narada Power Source Co. Ltd. and FIAMM S.p.A.

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About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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