Automotive Battery Market - Strong Emphasis of Research and Development to up Competition in Future

The global automotive battery market is primarily driven by the robust growth of the automotive industry, particularly in developing regions. Besides this factor, the market is augmented by growing investments towards carrying out R&D activities in this field. Other factors such as growing integration of electronics, rapid industrialization, and the rising consumer disposable income are providing a fillip to the market. However, constant fluctuations in the cost of raw materials such as lead and nickel are hampering the growth of the market. Safety issues related to the use of batteries is another factor inhibiting the growth of the global automotive battery market.

On the basis application, the global automotive battery market can be segmented into two-wheeler, three-wheeler, light commercial, medium commercial, utility vehicle, farm vehicle, and passenger car. Based on battery type, the market can be divided into lead acid batteries, nickel metal hybrid batteries, and lithium ion batteries. The nickel metal hybrid batteries segment is expected to expand at a significant CAGR during the forecast period.

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The regional markets analyzed in the report are North America, Europe, Asia Pacific, and Rest of the World. North America will be the leading revenue generator throughout the forecast period, followed by Asia Pacific and Europe. The growth of Asia Pacific can be attributed to the emergence of China as a hub for the global automobile industry and the rising sales volume of vehicles in countries such as Indonesia, India, Thailand, Malaysia, and the Philippines. Moreover, the improving economic conditions, growing population, and booming automotive industry in India are working in favor of the growth of the region. Owing to these factors, the Asia Pacific automotive battery market is likely to expand at a promising pace.

The research activities in the global automotive battery market are mostly funded by automobile manufacturers. Some of these activities have resulted in encouraging technological breakthroughs. This trend has boded well for the growth of the market. Some of the leading players in the market profiled in the report are Camel Group, East Penn Manufacturing, Exide Technologies, Fengfan and Fiamm Group, GS Yuasa, Hitachi Ltd., Johnson Controls, and Zhejiang Haijiu Battery Co. Ltd.

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