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:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
17.09%
CAGR
19.75%
Incremental Value
$119.8bn
ByVehicle Type
Passenger cars
Commercial vehicles
ByChannel
OEM
Aftermarket
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.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Vehicle Type
Executive Summary - Chart on Market Segmentation by Channel
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ billion)
Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Automotive Batteries Market 2018 - 2022
Historic Market Size - Data Table on Global Automotive Batteries Market 2018 - 2022 ($ billion)