Global Car Batteries Market – Industry Trends and Forecast to 2031

Global Car Batteries Market, By Battery Type (Lithium-Ion, Lead-Acid, Nickel, Sodium-Ion), Vehicle Type (Passenger Vehicle, Commercial Vehicle, Electric Vehicle), Engine Type (Internal Combustion Engine, Electric Vehicles), Functions (Electric Propulsion, Start, Lighting, Ignition), Sales Chanel (OEM, Aftermarket) - Industry Trends and Forecast to 2031.

Car Batteries Market Analysis and Size

Car batteries refer to batteries that supply electric current to motor vehicles that are usually rechargeable. Some of the automotive battery types are Lithium-ion, lead-acid, nickel, and sodium-ion. These are generally 12-volt batteries of six cells and are the heart of the car's electrical system. The main aim of the component is to start the engine and then the power for the electrical system is supplied by the alternator.

Data Bridge Market Research analyzes that the global car batteries market is expected to reach USD 1,084.5 million by 2031, from USD 590.30 million in 2023, and is expected to undergo a CAGR of 7.9% during the forecast period of 2024 to 2031. “Lithium- Ion” dominates the service segment of the market due to demand from growing markets. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

An automotive battery is an electrochemical device that can store and generate electrical energy. While starting the engine, the automotive battery provides electric current to power the starting motor and ignition system. When the alternator is not handling the load, it works as a voltage stabilizer by giving current to the lights, radio, and other electrical accessories.

Global Car Batteries Market Dynamics

Driver

• Growing Consumer Preference for Pollution-Free Electric and Hybrid Vehicles

The growing consumer preference for pollution-free electric and hybrid vehicles and the increasing need for ideal automotive battery that are capable of offering adequate reserve capacity which signifies the amount of electrical energy that the battery can deliver when it is fully charged are the major factors driving the automotive battery market. The use of the rankings used to measure battery performance include cold cranking amperes (CCA), amp-hours (AH), power (watts) and reserve capacity (RC), new hybrid and electric automotive models from OEMs and the implementation of supportive policies by federal, state and area administrative bodies to sustain long-term benefits for successful manufacturing of an EV accelerate the market growth.

Opportunity

• Requirement to develop a uniform platform and provide operational support for EVs

The requirement to develop a uniform platform and provide operational support for EVs by electric utility providers and favorable regulatory policies also influence the automotive battery market. In addition, rise in the production and sales of vehicles, expansion of transportation, technological advancement, increasing demand for advanced technologies and change in lifestyle and surge in disposable income positively affect the automotive battery market. Furthermore, research and development for hybrid and EVs and increasing demand for hybrids and EVs extends profitable opportunities to the market.

Restraints/Challenges

• High initial cost, fluctuation in the oil prices and limited range

On the other hand, high initial cost, fluctuation in the oil prices and limited range are the factors expected to obstruct the automotive battery market growth. Safety issues related to battery usage and underdeveloped support infrastructure for EVs are projected to challenge the market.

Recent Developments

• In May 2021, premium automaker Daimler Truck AG and leading lithium-ion battery manufacturer CATL announced the expansion of their global strategic partnership to develop advanced next-generation batteries for truck-specific applications
• In March 2021, General Motors partnered with lithium metal battery developer SolidEnergy Systems to form a joint venture for EV battery development

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Car Batteries Market Scope

The Global car batteries market is segmented on the basis of battery type, vehicle type, engine type, functions and sales channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Battery Type

• Lithium-Ion
• Lead-Acid
• Nickel
• Sodium-Ion

Vehicle Type

• Passenger Vehicle
• Commercial Vehicle
• Electric Vehicle

Engine Type

• Internal Combustion Engine
• Electric Vehicles

Functions

• Electric Propulsion
• Start
• Lighting
• Ignition

Sales Chanel

• OEM
• Aftermarket

Global Car Batteries Market Region Analysis/Insights

The Global Car Batteries Market is analyzed and market size insights and trends are provided by country, battery type, vehicle type, engine type, functions and sales channel as referenced above.

The countries covered in the Global Car Batteries Market report are U.S., Canada, Mexico, Brazil, Argentina, the rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and rest of the Middle East and Africa.

North America is expected to dominate the market due to North America being home to renowned research institutions, universities, and technology companies that conduct cutting-edge research in photonics and integrated circuit technologies. This strong R&D ecosystem fosters innovation and drives advancements in car batteries circuits.

Asia-Pacific is expected to be fastest-growing country in the market due to the Asia-Pacific region having a large and rapidly growing population, along with a significant increase in industrial manufacturing. This drives the demand for warehouses, which can benefit from the use of Car Batteries.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.   

Competitive Landscape and Global Car Batteries Market Share Analysis

The Global car batteries market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the Global car batteries market.

Some of the major players operating in the Global car batteries market are:

• Johnson Controls (U.S.)
• GS Yuasa International Ltd. (Japan)
• Exide Technologies (U.S.)
• East Penn Manufacturing Company (U.S.)
• Camel Group Co (China)
• Fengfan Co., Ltd. (China)
• FIAMM (Italy)
• ENERSYS (U.S.)
• Robert Bosch GmbH (Germany)
• MK Battery (U.S.)
• Amara Raja Group (India)
• Hitachi, Ltd. (Japan)
• SANYO Electric Co., Ltd. (Japan)
• Okaya Power Pvt. Ltd. (India)
• Luminous India (India)
• Huawei Technologies Co., Ltd. (China)
• Chaowel Power Holdings Limited (China)