“The report on Vehicle Battery Market was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter’s five forces.
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Vehicle Battery Market: Overview
- The global vehicle battery market is anticipated to expand at a CAGR of ~3% during the forecast period, owing to a rise in the adoption of electric vehicles and hybrids; subsequently, boosting the use of multiple batteries
- The plug-in hybrid/ battery electric vehicle segment is projected to expand at a high growth rate of 18.24%, in terms of volume, due to growing regulatory pressure on automakers
- In terms of battery type, the lithium ion segment is estimated to expand at a CAGR of 16.42% in terms of volume
Drivers of Vehicle Battery Market
- Rise in global production of vehicles is a primary driver for the vehicle battery market. Developing regions such as Latin America, Middle East & Africa, and Asia Pacific are registering significant rise in annual vehicle production, thereby boosting the demand for vehicle battery.
- Increased production of electric vehicles has spurred the demand for batteries. Hybrid and electric vehicles utilize more than one battery per vehicle. Use of multiple batteries in vehicles is projected to boost the vehicle battery market. Increased emphasis on climate change and urgency to curb vehicular pollution is boosting the adoption of the electric vehicles globally, which is anticipated to drive the vehicle battery market.
- Advanced fuel saving technologies, such as start-stop and micro-hybrids, have necessitated the use of more powerful batteries to handle the frequent charge-discharge load required by the start-stop technology. Increasing number of cabin features, such as HMI, climate control, and ambient lightning, is exerting heavy load on the conventional vehicle battery. Thus, multiple batteries are used such as primary for engine cranking and auxiliary for other power requirements such as safety systems and entertainment.
- Vehicle batteries are consumable items and require periodic replacement. Increasing number of on road vehicles and rise in number of miles driven is boosting the aftermarket demand for vehicle battery and subsequently, fueling the expansion of the vehicle battery market.
Challenges for Vehicle Battery Market
- Stringent battery recycling norms and high price of lithium ion battery are hindering the mass adoption of lithium ion batteries. Lithium extraction is a complicated and expensive process and hence, lithium ion batteries are expensive.
- The COVID19 pandemic is expected to negatively impact the global automotive sector, and its ripple effect is likely to be observed in the global vehicle battery market
Segmentation of Vehicle Battery Market
- Based on battery type, the vehicle battery market has been classified into lead acid, lithium ion, and others. In terms of volume, the lead acid segment held a leading share of the vehicle battery market, owing to their use in internal combustion engine vehicles and as auxiliary batteries in electric vehicles. In terms of revenue, the lithium ion segment held a leading share due to its high price, as compared to that of lead acid battery.
- Based on vehicle class, the vehicle battery market has been segregated into passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The passenger vehicle segment accounted for prominent share of the global vehicle battery market due to high production volume of passenger cars.
- Based on sales channel, the vehicle battery market has been bifurcated into OEM and aftermarket. The aftermarket segment holds a considerable share of the global vehicle battery market, owing to necessity of periodic replacement of batteries. The aftermarket segment is projected to expand during the forecast period due to the increase in the number of on road vehicles.
Vehicle Battery Market: Regional Analysis
- Based on region, the global vehicle battery market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific region held the dominating market share in 2019 with China being a prominent automotive producer worldwide. Asia Pacific is likely to hold a key share during the forecast period due to the expansion of the automotive sector in India and countries in ASEAN
- Asia Pacific is followed by Europe in terms of market share in the global vehicle battery market. Europe is a key market for the lithium-ion battery due to high volume production of electric vehicles in Germany, the U.K., France, Sweden, and the Netherlands.
- The market in Latin America is anticipated to expand at a rapid pace, owing to the entry of foreign manufacturers in Mexico and Brazil, thereby boosting vehicle production
Vehicle Battery Market: Competition Landscape
- Key players operating in the global vehicle battery market are
- BYD Company Limited
- Panasonic Corporation
- Johnson Controls International PLC
- SAMSUNG SDI Co., Ltd
- Contemporary Amperex Technology Co., Limited
- LG Chem Ltd.
- A123 Systems Inc.
Vehicle Battery Market – Scope of the Report
The recent report on the vehicle battery market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the vehicle battery market analyzes the scenario for the period of 2019 to 2030, wherein, 2019 is the base year and 2018 and before is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This study on the vehicle battery market also provides data on the developments made by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the vehicle battery market gives readers an individual understanding of the market.
This study also discusses the underlying trends and impact of various factors that are driving the vehicle battery market, along with their influence on the evolution of the market.
This study also offers Porter’s Five Point Analysis, value chain analysis, regulatory scenario, and a SWOT analysis of the vehicle battery market, in order to elaborate the crucial growth tactics and opportunities for market players contributing to the market.
Key Questions Answered in This Report on Vehicle Battery Market
- How much value will the vehicle battery market generate by the end of the forecast period?
- Which segment of the market is likely to have the maximum market share by 2030?
- What are the impact factors and there effects on the market for vehicle battery?
- What regions currently contribute the maximum share to the overall vehicle battery market?
- What are the indicators expected to drive the vehicle battery market?
- What region is likely to be a lucrative market during the forecast period?
- What are the essential strategies by key stakeholders in the vehicle battery market to expand their geographic presence?
- What are the major advancements witnessed in the vehicle battery market?
- How regulatory norms affected the market for vehicle battery market?
This report answers these questions and more about the vehicle battery market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Vehicle Battery Market: Research Methodology
This report on the vehicle battery market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Market volume is determined by country-wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the vehicle battery market is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the vehicle battery market arrive at predictions and estimations, and calculate the forecast for the market.
This report uses an analytical triangulation method to estimate the numbers and figures of the Vehicle battery market, with both a bottom-up and top-down approach.
This detailed assessment of the vehicle battery market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the vehicle battery market is estimated to expand are based on carefully vetted primary and secondary sources.
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Table of Content
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
2.1. Research Methodology
2.1.1. Primary Research and List of Primary Sources
2.1.2. Secondary Research and Sources
2.2. Key assumptions for Data Modelling
3. Executive Summary : Global Vehicle Battery Market
3.1. Global Vehicle Battery Market Volume (Million Units) and Value (US$ Mn), 2019?2030
4. Market Overview
4.1. Introduction
4.2. Global Market – Macro Economic Factors
4.3. Industry Dynamics
4.4. Market Dynamics
4.4.1. Drivers
4.4.2. Restraints
4.4.3. Opportunity
4.4.4. Impact Analysis of Drivers and Restraints
4.5. Market Factor Analysis
4.5.1. Porter’s Five Force Analysis
4.5.2. PESTEL Analysis
4.5.3. Value Chain Analysis
4.5.3.1. List of Key Manufacturers
4.5.3.2. List of Customers
4.5.3.3. Level of Integration
4.5.4. SWOT Analysis
4.6. Regulatory Scenario
4.7. Key Trend Analysis
4.8. Vehicle Battery Market – Technological Overview
5. Global Vehicle Battery Market Analysis and Forecast, by Battery Type
5.1. Definition
5.2. Market Snapshot
5.3. Global Vehicle Battery Market Volume (Million Units) and Value (US$ Mn) Forecast, by Battery Type, 2019?2030
5.3.1. Lead Acid
5.3.2. Lithium Ion
5.3.3. Others
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