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Automotive batteries market size to increase by USD 89.21 billion: Market research insights highlight rise in sales of passenger cars as a key driver - Technavio
[January 25, 2023]

Automotive batteries market size to increase by USD 89.21 billion: Market research insights highlight rise in sales of passenger cars as a key driver - Technavio


NEW YORK, Jan. 25, 2023 /PRNewswire/ -- According to Technavio, the automotive batteries market will witness a YOY growth of 16.01% in 2023. The market is segmented by vehicle type (passenger cars and commercial vehicles), channel (OEM and aftermarket), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The automotive batteries market size is estimated to increase by USD 89.21 billion at a CAGR of 17.75% from 2022 to 2027. - Request a Sample Report

Automotive batteries Market - Vendor Insights

The global automotive batteries market is fragmented. The market is characterized by the presence of a few large, medium, and small-scale manufacturers. The large and established vendors sell and distribute their offerings to customers across the world, whereas most smaller players are concentrated in their regional markets. The rivalry among vendors is intense, which is forcing them to adopt pricing and marketing strategies to retain their existing market shares and seize new market opportunities.

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • A123 Systems LLC - The company offers automotive batteries such as Lithium-ion 12V starter battery, and Lithium-ion 48V battery.
  • Amara Raja Group - The company offers automotive batteries under the brand Amaron.
  • Crown Battery Manufacturing Co. - The company offers automotive batteries such as CROWN1 AGM.
  • East Penn Manufacturing Co. Inc. - The company offers automotive batteries such as Deka series.
  • For details on vendor and its offerings – Buy the report!

Automotive batteries market - Geographical Analysis 

APAC will provide maximum growth opportunities in the automotive batteries market during the forecast period. According to our research report, the region will account for 55% of the global market growth during the forecast period.

The market in APAC is majorly driven by increased disposable income and the launches of new car models by OEMs. In addition, the increasing penetration of renewable energy in the energy mix is expected to play a significant role in the growth of the regional market during the forecast period.

Automotive batteries market - Key Segment Analysis

The market share growth by the passenger cars segment will be significant during the forecast period. The segment is driven by the increasing use of electrical systems in automobiles and the growing demand for energy-efficient battery systems.

Download a Sample to obtain additional highlights and key points on various market segments
and their impact in coming years. 

Automotive batteries market - Key Market Drivers and Challenges: 

The automotive batteries market is primarily driven by the rise in sales of passenger cars. The decline in the interest rates on car loans has enabled consumers to buy passenger cars such as crossovers and SUVs. The growth in the sales of passenger cars is encouraging automobile manufacturers to increase their production capacities. For instance, Toyota is planning to relocate its auto production to Mexico to meet the increased demand for SUVs and crossovers in Canada and the US. With the increasing adoption of passenger cars, the demand for automotive batteries will increase during the forecast period.

Multiple limitations and the short life cycles of lead-acid batteries is a major challenge affecting the market growth. Lead-acid batteries are heavy and less durable when compared to nickel or lithium-based batteries. These batteries have low energy density. Any instance of full discharge causes a permanent depletion of the small amount of the capacity of the battery. Such limitations are hindering the growth of the market in focus.

Download a sample for highlights on market drivers & challenges affecting the
automotive batteries market. 

What are the key data covered in this automotive batteries market report?
  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the automotive batteries market between 2023 and 2027
  • Precise estimation of the size of the automotive batteries market and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market industry across APAC, Europe, North America, South America, and Middle East and Africa
  • Thorough analysis of the market's competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of automotive batteries market vendors


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Related Reports:

  • The automotive lead-acid battery market is estimated to grow at a CAGR of 2.84% between 2022 and 2027. The size of the market is forecast to increase by USD 4,077.41 million. The increasing electronic applications in passenger cars are notably driving the market growth, although factors such as lead pollution and stringent laws may impede the market growth.
  • The primary battery market is estimated to grow at a CAGR of 6.36% between 2022 and 2027. The size of the market is forecast to increase by USD 6.22 billion. The growing demand for portable medical equipment is notably driving the market growth, although factors such as the threat from rechargeable hearing aid solutions may impede the market growth.




Automotive Batteries Market Scope

Report Coverage

Details

Page number

173

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 17.75%

Market growth 2023-2027

USD 89.21 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

16.01

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 55%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

A123 Systems LLC, Amara Raja Group, Clarios, Crown Battery Manufacturing Co., East Penn Manufacturing Co. Inc., EnerSys, Exide Industries Ltd., Furukawa Electric Co. Ltd., GS Yuasa Corp., HBL Power Systems Ltd., Hitachi Ltd., Leoch International Technology Ltd., LG Corp., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung SDI Co. Ltd., Shandong Sacred Sun Power Sources Co. Ltd., TotalEnergies SE, Montana Tech Components AG, and Toshiba Corp.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.


Table of Contents:

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Vehicle Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Channel
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global automotive batteries market 2017 - 2021 
    • Exhibit 18: Historic Market Size – Data Table on Global automotive batteries market 2017 - 2021 ($ billion)
  • 4.2 Vehicle type Segment Analysis 2017 - 2021 
    • Exhibit 19: Historic Market Size – Vehicle type Segment 2017 - 2021 ($ billion)
  • 4.3 Channel Segment Analysis 2017 - 2021 
    • Exhibit 20: Historic Market Size – Channel Segment 2017 - 2021 ($ billion)
  • 4.4 Geography Segment Analysis 2017 - 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
  • 4.5 Country Segment Analysis 2017 - 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

  • 5.1 Five forces summary
    • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition
    • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Vehicle Type

  • 6.1 Market segments
    • Exhibit 30: Chart on Vehicle Type - Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Vehicle Type - Market share 2022-2027 (%)
  • 6.2 Comparison by Vehicle Type 
    • Exhibit 32: Chart on Comparison by Vehicle Type
    • Exhibit 33: Data Table on Comparison by Vehicle Type
  • 6.3 Passenger cars - Market size and forecast 2022-2027 
    • Exhibit 34: Chart on Passenger cars - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 35: Data Table on Passenger cars - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 36: Chart on Passenger cars - Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Passenger cars - Year-over-year growth 2022-2027 (%)
  • 6.4 Commercial vehicles - Market size and forecast 2022-2027 
    • Exhibit 38: Chart on Commercial vehicles - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 39: Data Table on Commercial vehicles - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 40: Chart on Commercial vehicles - Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Commercial vehicles - Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Vehicle Type 
    • Exhibit 42: Market opportunity by Vehicle Type ($ billion)

7 Market Segmentation by Channel

  • 7.1 Market segments
    • Exhibit 43: Chart on Channel - Market share 2022-2027 (%)
    • Exhibit 44: Data Table on Channel - Market share 2022-2027 (%)
  • 7.2 Comparison by Channel 
    • Exhibit 45: Chart on Comparison by Channel
    • Exhibit 46: Data Table on Comparison by Channel
  • 7.3 OEM - Market size and forecast 2022-2027 
    • Exhibit 47: Chart on OEM - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 48: Data Table on OEM - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 49: Chart on OEM - Year-over-year growth 2022-2027 (%)
    • Exhibit 50: Data Table on OEM - Year-over-year growth 2022-2027 (%)
  • 7.4 Aftermarket - Market size and forecast 2022-2027 
    • Exhibit 51: Chart on Aftermarket - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 52: Data Table on Aftermarket - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 53: Chart on Aftermarket - Year-over-year growth 2022-2027 (%)
    • Exhibit 54: Data Table on Aftermarket - Year-over-year growth 2022-2027 (%)
  • 7.5 Market opportunity by Channel 
    • Exhibit 55: Market opportunity by Channel ($ billion)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 59: Chart on Geographic comparison
    • Exhibit 60: Data Table on Geographic comparison
  • 9.3 APAC - Market size and forecast 2022-2027 
    • Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
    • Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)
  • 9.4 North America - Market size and forecast 2022-2027 
    • Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
    • Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)
  • 9.5 Europe - Market size and forecast 2022-2027 
    • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
    • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
  • 9.6 South America - Market size and forecast 2022-2027 
    • Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
    • Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)
  • 9.7 Middle East and Africa - Market size and forecast 2022-2027 
    • Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
  • 9.8 China - Market size and forecast 2022-2027 
    • Exhibit 81: Chart on China - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 82: Data Table on China - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 83: Chart on China - Year-over-year growth 2022-2027 (%)
    • Exhibit 84: Data Table on China - Year-over-year growth 2022-2027 (%)
  • 9.9 US - Market size and forecast 2022-2027 
    • Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
    • Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
  • 9.10 Japan - Market size and forecast 2022-2027 
    • Exhibit 89: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 90: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 91: Chart on Japan - Year-over-year growth 2022-2027 (%)
    • Exhibit 92: Data Table on Japan - Year-over-year growth 2022-2027 (%)
  • 9.11 Germany - Market size and forecast 2022-2027 
    • Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
    • Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)
  • 9.12 India - Market size and forecast 2022-2027 
    • Exhibit 97: Chart on India - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 98: Data Table on India - Market size and forecast 2022-2027 ($ billion)
    • Exhibit 99: Chart on India - Year-over-year growth 2022-2027 (%)
    • Exhibit 100: Data Table on India - Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 101: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges 
    • Exhibit 102: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape
    • Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption
    • Exhibit 104: Overview on factors of disruption
  • 11.4 Industry risks
    • Exhibit 105: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered
    • Exhibit 106: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 107: Matrix on vendor position and classification
  • 12.3 A123 Systems LLC
    • Exhibit 108: A123 Systems LLC - Overview
    • Exhibit 109: A123 Systems LLC - Product / Service
    • Exhibit 110: A123 Systems LLC - Key offerings
  • 12.4 Amara Raja Group
    • Exhibit 111: Amara Raja Group - Overview
    • Exhibit 112: Amara Raja Group - Business segments
    • Exhibit 113: Amara Raja Group - Key offerings
    • Exhibit 114: Amara Raja Group - Segment focus
  • 12.5 Clarios
    • Exhibit 115: Clarios - Overview
    • Exhibit 116: Clarios - Product / Service
    • Exhibit 117: Clarios - Key news
    • Exhibit 118: Clarios - Key offerings
  • 12.6 Crown Battery Manufacturing Co. 
    • Exhibit 119: Crown Battery Manufacturing Co. - Overview
    • Exhibit 120: Crown Battery Manufacturing Co. - Product / Service
    • Exhibit 121: Crown Battery Manufacturing Co. - Key offerings
  • 12.7 East Penn Manufacturing Co. Inc. 
    • Exhibit 122: East Penn Manufacturing Co. Inc. - Overview
    • Exhibit 123: East Penn Manufacturing Co. Inc. - Product / Service
    • Exhibit 124: East Penn Manufacturing Co. Inc. - Key news
    • Exhibit 125: East Penn Manufacturing Co. Inc. - Key offerings
  • 12.8 EnerSys
    • Exhibit 126: EnerSys - Overview
    • Exhibit 127: EnerSys - Business segments
    • Exhibit 128: EnerSys - Key news
    • Exhibit 129: EnerSys - Key offerings
    • Exhibit 130: EnerSys - Segment focus
  • 12.9 Exide Industries Ltd. 
    • Exhibit 131: Exide Industries Ltd. - Overview
    • Exhibit 132: Exide Industries Ltd. - Product / Service
    • Exhibit 133: Exide Industries Ltd. - Key offerings
  • 12.10 Furukawa Electric Co. Ltd. 
    • Exhibit 134: Furukawa Electric Co. Ltd. - Overview
    • Exhibit 135: Furukawa Electric Co. Ltd. - Business segments
    • Exhibit 136: Furukawa Electric Co. Ltd. - Key news
    • Exhibit 137: Furukawa Electric Co. Ltd. - Key offerings
    • Exhibit 138: Furukawa Electric Co. Ltd. - Segment focus
  • 12.11 GS Yuasa Corp.
    • Exhibit 139: GS Yuasa Corp. - Overview
    • Exhibit 140: GS Yuasa Corp. - Business segments
    • Exhibit 141: GS Yuasa Corp. - Key news
    • Exhibit 142: GS Yuasa Corp. - Key offerings
    • Exhibit 143: GS Yuasa Corp. - Segment focus
  • 12.12 Hitachi Ltd.
    • Exhibit 144: Hitachi Ltd. - Overview
    • Exhibit 145: Hitachi Ltd. - Business segments
    • Exhibit 146: Hitachi Ltd. - Key news
    • Exhibit 147: Hitachi Ltd. - Key offerings
    • Exhibit 148: Hitachi Ltd. - Segment focus
  • 12.13 LG Corp.
    • Exhibit 149: LG Corp. - Overview
    • Exhibit 150: LG Corp. - Business segments
    • Exhibit 151: LG Corp. - Key offerings
    • Exhibit 152: LG Corp. - Segment focus
  • 12.14 Panasonic Holdings Corp. 
    • Exhibit 153: Panasonic Holdings Corp. - Overview
    • Exhibit 154: Panasonic Holdings Corp. - Business segments
    • Exhibit 155: Panasonic Holdings Corp. - Key news
    • Exhibit 156: Panasonic Holdings Corp. - Key offerings
    • Exhibit 157: Panasonic Holdings Corp. - Segment focus
  • 12.15 Robert Bosch GmbH
    • Exhibit 158: Robert Bosch GmbH - Overview
    • Exhibit 159: Robert Bosch GmbH - Business segments
    • Exhibit 160: Robert Bosch GmbH - Key offerings
    • Exhibit 161: Robert Bosch GmbH - Segment focus
  • 12.16 Toshiba Corp.
    • Exhibit 162: Toshiba Corp. - Overview
    • Exhibit 163: Toshiba Corp. - Business segments
    • Exhibit 164: Toshiba Corp. - Key offerings
    • Exhibit 165: Toshiba Corp. - Segment focus
  • 12.17 TotalEnergies SE
    • Exhibit 166: TotalEnergies SE - Overview
    • Exhibit 167: TotalEnergies SE - Business segments
    • Exhibit 168: TotalEnergies SE - Key news
    • Exhibit 169: TotalEnergies SE - Key offerings
    • Exhibit 170: TotalEnergies SE - Segment focus

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 171: Inclusions checklist
    • Exhibit 172: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 173: Currency conversion rates for US$
  • 13.4 Research methodology
    • Exhibit 174: Research methodology
    • Exhibit 175: Validation techniques employed for market sizing
    • Exhibit 176: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 177: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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