Automotive Battery Market Growth Drivers, Trends, and Forecast by 2031

MARKET OVERVIEW

An automotive battery is a rechargeable battery that supplies the electric current to the vehicle, it used in the vehicle to supply power or back-up power, generally used for starting engines, interior circuits, and external appliances in the vehicle. A growing number of electrical circuits and devices in the vehicle is one of the major factors that boost the growth of the automotive battery market. Moreover, rapid growth in the automotive sector results in the increasing production of a vehicle that booming the growth of the automotive battery market.

MARKET SCOPE

The "Global Automotive Battery Market Analysis to 2031" is a specialized and in-depth study of the automotive battery industry with a special focus on the global market trend analysis. The report aims to provide an overview automotive battery market with detailed market segmentation by type, vehicle type, and geography. The report provides key statistics on the market status of the leading automotive battery market players and offers key trends and opportunities in the automotive battery market.

MARKET SEGMENTATION

•   The global automotive battery market is segmented on the basis of type, vehicle type.
  
•   On the basis type the market is segmented as lead acid, lithium-ion, others.
  
•   On the basis vehicle type the market is segmented as passenger car, commercial vehicle.
  

MARKET DYNAMICS

Drivers:

•   Advancements in technology led to a large number of functions in the vehicle that requires a battery to perform which propels the growth of the automotive battery market.
  
•   The rising demand for electric vehicles is a significantly growing demand for batteries that influence the growth of the automotive battery market
  

Restraints:

•   Under developed support infrastructure for EVs
  
•   Safety issues related to battery usage
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive battery market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive battery market in these regions.

IMPACT OF COVID-19 ON AUTOMOTIVE BATTERY MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the automotive battery market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Automotive battery market market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive battery market in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive battery market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Camel Group Co., Ltd.
  
•   Exide Industries Ltd.
  
•   GS Yuasa International Ltd.
  
•   Hitachi Chemical Co., Ltd.
  
•   LG Chem
  
•   Panasonic Corporation
  
•   Robert Bosch GmbH
  
•   SAMSUNG SDI CO., LTD.
  
•   Toshiba Corporation
  
•   VARTA (Clarios)
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Automotive Battery Report Scope