Press release
Automotive Battery Market to Reach $100 Bn by 2031, CAGR 5.5% (2024-2031) Driven by EV & Hybrid Growth | Market Players: Panasonic Corporation, LG Chem, GS Yuasa International Ltd., Robert Bosch GmBH
Automotive Battery Market
The global Automotive Battery market has witnessed significant growth over the past few years, driven by increasing demand across multiple industries and advancements in technology. The market is characterized by rising adoption of innovative solutions, growing consumer awareness, and supportive government regulations in major economies. As industries continue to prioritize efficiency, sustainability, and cost optimization, Automotive Battery is becoming a critical enabler of business transformation.
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The automotive battery market is expanding with the surge in electric vehicles and hybrid models. Lithium-ion batteries dominate, while solid-state battery R&D and recycling initiatives are reshaping the competitive landscape.
Key Highlights from the Report
➤ The Automotive Battery market is projected to grow at a CAGR of 5.5% between 2024-2031.
➤ The lead-acid batteries segment dominates due to affordability and established use, while the lithium-ion batteries segment grows fastest with EV adoption.
➤ Asia Pacific dominates and is the fastest growing region in the automotive battery market, driven by EV production and high vehicle demand.
➤ Strategic collaborations and M&A activities are shaping the competitive landscape.
➤ Sustainability and digital transformation are creating new opportunities in the market.
Market Segmentation
By Battery (Lead-Acid Batteries, Lithium-Ion Batteries, Others), By Engine (Internal Combustion (IC) Engine, Electric Powertrain), By Ampere Rating (Below 50 Ah, 50-70 Ah, Above 70 Ah), By Vehicle (Passenger Vehicles, Commercial Vehicles)
Company Insights
Key players operating in the Automotive Battery market include:
Panasonic Corporation, LG Chem, GS Yuasa International Ltd., Robert Bosch GmBH, Hitachi, Ltd., Exide Industries Ltd., Contemporary Amp Technology Co., Limited, A123 Systems LLC, Samsung SDI Co., Ltd and BYD Motors Inc.
Recent Developments
✅ In July 2023, Sunwoda, a Chinese battery manufacturing company announced an investment of USD 274.7 million to build a new battery production facility in Hungary.
✅ In July 2023, Stellantis, a multinational automotive manufacturing conglomerate announced an expansion of its partnership with Samsung, the South Korean tech conglomerate, to build a second battery plant in U.S.
✅ In July 2023, the Tata Group, an Indian industrial conglomerate, announced plans to invest USD 5 billion in a new battery factory in UK.
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Regional Insights
The global Automotive Battery market demonstrates strong performance across multiple regions:
• North America leads the market due to high adoption rates, strong R&D activities, and the presence of key market players.
• Europe benefits from stringent regulations, increasing focus on sustainability, and government-backed innovation programs.
• Asia-Pacific is expected to witness the fastest growth during the forecast period, fueled by rapid industrialization, growing consumer base, and rising investment in infrastructure.
• Latin America and Middle East & Africa are also showing promising growth, supported by economic reforms and foreign direct investments.
Market Dynamics
Driver: Growing EV adoption is significantly boosting demand for high-performance batteries.
Restraint: High costs of raw materials like lithium and cobalt restrain affordability.
Opportunity: Advancements in solid-state and next-generation batteries create new market prospects.
Challenge: Recycling and safe disposal of used batteries remain major hurdles.
The Report Includes:
➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Go-to-market Strategy.
➡ Neutral perspective on the market performance.
➡ Customized regional/country reports as per request and country level analysis.
➡ Potential & niche segments and regions exhibiting promising growth covered.
Reasons to Buy the Report
✔ Comprehensive market insights with accurate growth projections through 2032.
✔ In-depth segmentation analysis to identify high-growth areas.
✔ Regional breakdown highlighting key opportunities across global markets.
✔ Competitive landscape profiling leading players and recent strategic moves.
✔ Actionable insights for investors, policymakers, and industry stakeholders.
Frequently Asked Questions (FAQs)
◆ How Big is the Global Automotive Battery Market?
◆ Who are the Key Players in the Automotive Battery Industry?
◆ What is the Projected Growth Rate (CAGR) of the Market from 2025 to 2032?
◆ What is the Forecast Value of the Market by 2032?
◆ Which Region is Expected to Dominate the Market During the Forecast Period?
Conclusion
The global Automotive Battery market is positioned for significant growth, driven by strong demand across industries, technological innovation, and supportive regulatory environments. While challenges such as high costs and regulatory hurdles exist, emerging opportunities in digital transformation, sustainability, and new applications are expected to create profitable pathways for market players. Companies that invest in innovation and strategic collaborations will remain at the forefront of this evolving landscape.
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✅ Competitive Landscape
✅ Sustainability Impact Analysis
✅ KOL / Stakeholder Insights
✅ Unmet Needs & Positioning, Pricing & Market Access Snapshots
✅ Market Volatility & Emerging Risks Analysis
✅ Quarterly Industry Report Updated
✅ Live Market & Pricing Trends
✅ Consumer Behavior & Demand Analysis
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Contact Person: Sai Kiran
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