Global Automotive Batteries Market 2024-2028
The automotive batteries market is forecasted to grow by USD 119.8 bn during 2023-2028, accelerating at a CAGR of 19.75% during the forecast period. The report on the automotive batteries market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rise in sales of passenger cars, growing demand for air conditioning systems in commercial vehicles in APAC, and rise in sales of electric vehicles, which is increasing demand for automotive batteries.
Technavio's automotive batteries market is segmented as below:
ByVehicle Type
- Passenger cars
- Commercial vehicles
ByChannel
ByGeography
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the growing demand for AGM batteries as one of the prime reasons driving the automotive batteries market growth during the next few years. Also, increase in average miles driven and growing focus on R and D to develop powerful batteries will lead to sizable demand in the market.
The report on the automotive batteries market covers the following areas:
- Automotive batteries market sizing
- Automotive batteries market forecast
- Automotive batteries market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive batteries market vendors that include A123 Systems LLC, Amara Raja Group, CLARIOS LLC, Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., Furukawa Electric Co. Ltd., GS Yuasa International Ltd., HBL Power Systems Ltd., Hitachi Ltd., Leoch International Technology Ltd., LG Corp., Montana Tech Components AG, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung SDI Co. Ltd., Shandong Sacred Sun Power Sources Co. Ltd., Toshiba Corp., and TotalEnergies SE. Also, the automotive batteries market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.