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Accelerating Growth: ANZ Automotive Battery Market Set for US$ 1.7 Bn Milestone by 2032 at 7.1% CAGR - Persistence Market Research
ANZ Automotive Battery Market
Batteries play a pivotal role in powering automotive systems, from ignition to auxiliary power. In recent years, technological innovations and environmental regulations have driven a marked shift toward battery-powered solutions. The surge in electric vehicle (EV) sales across Australia and New Zealand has particularly accelerated market dynamics, positioning the region as a vital contributor to global automotive battery revenues.
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✅Overview of the Market
The ANZ automotive battery market has experienced significant momentum in recent years, with manufacturers leveraging technological innovations to enhance battery performance, longevity, and energy density. As of 2024, the market is valued at US$ 985.1 Mn and is projected to expand substantially, reaching US$ 1,694.1 Mn by 2032. This expansion highlights a robust CAGR of 7.1%, driven by both organic and policy-induced factors.
The key growth drivers for the market include rising consumer inclination towards electric mobility, increasing adoption of hybrid vehicles, and stringent government norms aimed at reducing vehicle emissions. Among the battery segments, lithium-ion batteries continue to dominate due to their lightweight nature, higher efficiency, and recyclability. Australia leads the region's growth, primarily owing to its strong mining base for lithium and favorable EV policies.
✅Key Highlights from the Report:
➤ The market is projected to grow at a CAGR of 7.1% from 2025 to 2032.
➤ Total market revenue is forecast to reach US$ 1,694.1 Mn by 2032.
➤ Lithium-ion batteries are the leading product type in the ANZ region.
➤ Australia is the top-performing country in the regional automotive battery market.
➤ Increasing EV sales and government incentives are fueling demand.
➤ Rising investment in battery R&D is enhancing product innovation.
📊 Market Segmentation:
The ANZ automotive battery market can be segmented based on battery type, vehicle type, and sales channel. Among battery types, lithium-ion holds the dominant position due to its superior energy density, faster charging capabilities, and declining cost curve. Lead-acid batteries, while still in use for internal combustion vehicles, are gradually losing market share to newer technologies. Nickel-metal hydride batteries serve as an alternative for hybrid vehicle applications.
By vehicle type, passenger cars account for the largest market share, with the rise in personal vehicle ownership and electrification trends boosting battery demand. The commercial vehicle segment is also witnessing gradual growth, particularly in logistics and public transport fleets transitioning to electric power. OEM (original equipment manufacturer) sales dominate the channel segmentation, though aftermarket sales remain relevant for battery replacements and upgrades.
📊 Regional Insights:
Australia commands the lion's share of the ANZ automotive battery market, owing to its abundant raw material reserves-especially lithium-and a maturing EV infrastructure. Government-backed initiatives such as EV purchase subsidies and charging infrastructure rollouts have amplified battery demand.
New Zealand, while smaller in size, is emerging as a fast-growing segment of the regional market. A growing environmental consciousness and supportive policy frameworks for carbon neutrality by 2050 are influencing vehicle electrification and, in turn, battery adoption.
Market Drivers
One of the foremost drivers for the ANZ automotive battery market is the accelerating adoption of electric vehicles (EVs), spurred by governmental support, consumer awareness, and environmental regulations. Tax benefits, purchase incentives, and an expanding charging infrastructure further enhance the feasibility of EV adoption, thereby increasing battery demand. Moreover, the proliferation of smart and connected vehicles calls for batteries that can support advanced functionalities.
Market Restraints
Despite encouraging prospects, the market faces challenges such as high initial costs of advanced batteries and limited recycling infrastructure in some parts of the region. Battery performance can also degrade in extreme temperatures, which may deter users in specific climate zones. The raw material supply chain-especially for lithium and cobalt-can be volatile and impact overall production costs.
Market Opportunities
There is ample room for technological advancements and local manufacturing in the ANZ automotive battery space. Battery-as-a-service models, second-life battery use in energy storage systems, and modular battery packs offer new business avenues. Furthermore, rising investment in renewable energy and grid storage presents a synergistic opportunity for battery producers to diversify and integrate across value chains.
👉Frequently Asked Questions (FAQs):
➡How Big is the ANZ Automotive Battery Market in 2024 and 2032?
➡What is the Projected Growth Rate of the ANZ Automotive Battery Market?
➡Who are the Key Players in the Global Market for Automotive Batteries?
➡What is the Market Forecast for the ANZ Region by 2032?
➡Which Region is Estimated to Dominate the Industry through the Forecast Period?
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📌 Key Players
The ANZ automotive battery market is home to several prominent global and regional players contributing to innovation and market expansion.
✦ Exide Industries
✦ Panasonic Corporation
✦ LG Energy Solution
✦ GS Yuasa Corporation
✦ Johnson Controls
✦ East Penn Manufacturing
✦ Amara Raja Batteries Ltd.
✦ Clarios
✦ Enersys
✦ VARTA AG
■ In 2024, LG Energy Solution announced plans to expand its lithium-ion battery production capacity in the APAC region, including a potential facility in Australia.
■ GS Yuasa introduced a new series of high-performance automotive batteries designed for electric and hybrid vehicles specifically tailored to the ANZ climate conditions.
By aligning with evolving consumer demands, regulatory standards, and technological innovations, the ANZ Automotive Battery Market is on track for sustained, high-growth potential through 2032. Companies operating in this space must continue to innovate and localize to maintain competitive advantages in a rapidly evolving landscape.
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About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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