Automotive Battery Market Top key Players – Exide Technologies, Microvast, BYD Co Ltd, GS Yuasa, Clarios, Bosch GmbH, A123 Systems, Varta, East Penn US, Furukawa Japan

A vehicle’s battery is a crucial component. In an electric car, the battery serves a critical part in starting or ignition, powering the electronics, lighting the lights, and, most crucially, complete propulsion.

 

The battery market has been driven by advanced electronics and lighting, the most up-to-date infotainment systems, and the global shift toward electric vehicles. However, in other cases, the safety of the support infrastructure remains a source of concern.

 

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AUTOMOTIVE BATTERY MARKET DYNAMICS

The battery market will benefit from rising customer demand for hybrid and electric vehicles. Government-imposed tough emission requirements have resulted in an increase in the number of BEVs and PHEVs sold worldwide, which will boost the battery market because batteries account for 30-40% of the total cost of manufacture.

 

AUTOMOTIVE BATTERY MARKET SEGMENTATION

 

By Type

  • Lead-acid
  • Lithium-ion
  • Nickel based
  • Others

 

By Vehicle Type

  • ICE
  • BEV
  • PHEV

 

By Distributor Channel

  • OEM
  • Aftermarket

 

By Battery Size (KWH)

  • <30
  • 30-60
  • 60-80

 

By Geography

  • US
  • Europe
  • China
  • India
  • ROW

 

AUTOMOTIVE BATTERY MARKET SIZE AND FORECAST

Compact and cost-effective batteries are the goal of battery makers. As a result, the market will grow in the future as a result of the numerous opportunities. China’s plan to extend subsidies and incentives to electric vehicle owners is expected to boost EV sales. This will aid in the future acceleration of the battery business.

 

The increased demand for electric vehicles that contribute to zero-emissions is driving the growth and development of the automotive battery market. The expansion is also influenced by variables like as lower BMS (battery management system) costs and complexity, as well as increased global awareness of climate change.

 

However, due to lockdowns and manufacturing halts, the COVID-19 pandemic has had an unavoidable influence on any industry. Because most battery packs are made in China, the epidemic has slowed the expected rise in the car battery market. Companies all across the world have cleared the path for new technology and opportunities in order to reduce their reliance on China.

 

AUTOMOTIVE BATTERY MARKET COMPETITIVE LANDSCAPE

Because of the large number of manufacturers, the automotive battery production market is particularly competitive. Because the market is reliant on raw material suppliers and manufacturers, mergers, joint ventures, and company acquisitions are significant techniques for consolidating market presence.

 

The BYD group generated $23.66 million in revenue, with rechargeable batteries and solar items accounting for about 8% of the total. For the year 2020, the majority (53%) represented autos and related products, while the remaining (39%) represented mobile handset components and assembly services.

 

AUTOMOTIVE BATTERY MARKET COMPANY PROFILE

  • Exide Technologies
  • Microvast
  • BYD Co Ltd
  • GS Yuasa
  • Clarios
  • Bosch GmbH
  • A123 Systems
  • Varta
  • East Penn US
  • Furukawa Japan

 

Read More Information: https://mobilityforesights.com/product/automotive-battery-market/

 

 

Related Links:

 

Automotive Battery As A Service Market: https://mobilityforesights.com/product/automotive-battery-as-a-service-market/

 

Automotive Battery Sensor Market: https://mobilityforesights.com/product/automotive-battery-sensor-market/

 

Automotive Battery Seperators Market: https://mobilityforesights.com/product/automotive-battery-seperators-market/

 

 

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