Global Automotive Battery Market 2022
Automotive batteries are rechargeable batteries that supplies electric energy to automobiles, most essentially for automotive SLI (starting, lighting and ignition) system. Automotive batteries also provide power to automobile accessories such as radio, music players, air conditioners, wipers and charging plugs.
Furthermore, the battery also serves as voltage stabilizer by absorbing abnormal transient voltages in vehicle electrical system. Based on the chemical composition the automotive battery market is broadly categorized in five different market segment, lithium ion (Li-ion), nickel–metal hydride (Ni-MH), nickel–cadmium (Ni-Cd), gasoline and lead-acid.
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The energy density per unit weight (Wh/kg) is highest in Gasoline batteries followed by Li-ion and Ni-MH and is least in Lead-Acid batteries. Lead-Acid batteries are an aging automotive battery technology. Due to its simple or mature technology coupled with fluctuating lead prices in last few years, much of the automotives batteries research is focused on drifting away from this technology.
Increasing research and development in the field of battery technology for fuel cell based automobile and development of nano technology based lithium batteries along with government initiatives for electric vehicles around globe are some of the major drivers for automotive battery market, whereas constant fluctuation in the cost of raw materials such as nickel and lead, pose significant challenge for the industry.
Key Companies-
Such high growth rate is attributed to the emergence of China as a global hub for automobile industry and increasing demands of vehicles from some of the other Asian countries such as India Indonesia, Malaysia, Thailand and Philippines.
The increasing demand in these countries is attributed to the growing infrastructure and rising disposable income of middle class. Ni-MH segment is expected to experience highest growth rate followed by lead acid and lithium-ion segments.
Key points covered in the report
- Report segments the market on the basis of types, application, products, technology, etc (as applicable)
- The report covers geographic segmentation
- North America
- Europe
- Asia
- RoW
- The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
- The report provides company profiles of some of the leading companies operating in the market
- The report also provides porters five forces analysis of the market.
- How is the Global Automotive Battery market expected to grow over the projected period?
- What direction is the Global Automotive Battery market expected to take in terms of volume and value during the forecast period?
- What is the impact of macroeconomic factors on the Global Automotive Battery market in future?
- What are the key market drivers in the Global Automotive Battery market?
- What are significant opportunities and improvement areas for Global Automotive Battery manufacturers?
- What are the key developments and trends taking over the Global Automotive Battery market?
- Which are the emerging countries that are expected to create significant growth opportunities in the Global Automotive Battery market?
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