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Automotive Battery Market Industry Analysis, Growth, Trends and Forecast - 2031

08-06-2024 03:58 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

Automotive Battery Market

Automotive Battery Market

The global automotive battery market is anticipated to grow at a considerable CAGR of 5.4% during the forecast period (2024-2031). The rising need to address future energy requirements is one of the major factors expanding the electrical vehicles industry. The rising adoption of electrical vehicles is driving market growth. In 2019, the global sales of electric vehicles crossed 2.1 million. As technological progress in electrification advances and the market for them grows, electric vehicles are expanding significantly.

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With the growing electric vehicle industry, the market for automotive battery and more specifically electric vehicle battery will grow significantly. For instance, in December 2020, LG Chem Ltd announced its plans to more than double the production capacity of battery cells it makes in China for Tesla Inc. electric vehicles (EV) in 2021 to keep up with its US client's growth in the biggest car market. The firm, a supplier for Tesla's Shanghai-built Model 3, would also ship its increased output from China and Korea to Tesla's factories in Germany and the United States.

Full report of Automotive Battery Market available @ https://www.omrglobal.com/industry-reports/automotive-battery-market

Market Coverage

Segment Covered-
o By Types

o By Fuel Type

o By Vehicle Type

Regions Covered-
o North America

o Europe

o Asia-Pacific

o Rest of the World

Competitive Landscape- A123 Systems, LLC, BYD Co., Ltd., East Penn Manufacturing Company, EnerSys, Exide Technologies, and GS Yuasa Corp
Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast

o Most affected region and segment

Who is the leader in the market?
How are players addressing challenges to sustain growth?
Where is the investment opportunity?
Global Automotive Battery Market Report Segment

By Types

Lead Acid Battery
Lithium-Ion Battery
Others
By Fuel Type

Internal Combustion (IC) Engine Vehicle
Electric Vehicle
By Vehicle Type

Passenger Cars
Commercial Vehicles


Reasons to Buying From us -

1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
4. Our expert research analysts answer all your questions before and after purchasing your report.



For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/automotive-battery-market

Media Contact:

Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research

About Orion Market Research

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offers Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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