Market Overview:
The global vehicle battery technology market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for electric and hybrid vehicles across the globe. Additionally, the increasing demand for advanced battery technologies such as lithium-ion batteries is also contributing to the growth of this market. Lead-acid batteries are currently dominating this market and are expected to continue their dominance during the forecast period as well. However, lithium-ion batteries are witnessing a high rate of adoption due to their high energy density and longer life cycle as compared with lead-acid batteries. These factors are likely to contribute significantly towards the growth of this segment in coming years. Passenger vehicles currently account for majority share in terms of application in this market.
Product Definition:
A battery is an electrochemical device that converts stored chemical energy into electrical energy. Vehicle batteries are used to start the engine and provide power for the electrical systems of a vehicle. The importance of vehicle battery technology lies in its ability to store large amounts of electrical energy and release it when needed. This makes them an important part of vehicles and allows them to run without having to be plugged in.
Lead-acid Battery:
Lead-acid battery is the most common type of battery used in vehicles. It offers several benefits such as low cost, reliability and high energy density which makes it suitable for automotive applications. Lead-acid batteries are also known as car batteries because they are widely used in automobiles to power on-board systems such as electrical systems, lighting and electronic accessories among others.
Lithium-ion Battery:
Lithium-ion battery (Li-ion) is a rechargeable battery that uses lithium ions as the principal raw material. It is extensively used in portable consumer electronics, electric vehicles, and power tools. The growing demand for hybrid electric vehicles along with increasing awareness regarding green energy has led to an increase in the usage of Li-ion batteries across the globe.
Application Insights:
The passenger vehicles segment dominated the global vehicle battery technology market in 2017 and is expected to maintain its dominance over the forecast period. The increasing number of electric vehicles in developed countries such as U.S., Canada, and Germany is expected to drive demand for EV batteries during the forecast period.
Commercial Vehicles are projected to witness significant growth over the next eight years owing to rising demand from developing countries such as China, India, Brazil and South Korea. Growing emphasis on reducing greenhouse emissions by governments across various regions will further boost commercial vehicle sales over the coming years.
Regional Analysis:
Asia Pacific region accounted for the largest market share in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to rising disposable income, increasing population, and growing automotive industry. Moreover, Asia Pacific has been a hub for vehicle manufacturing owing to low labor costs as compared to North America or Europe. This trend is expected to continue over the next eight years due to favorable government policies regarding investments in electric vehicles by China and India.
The European regional market captured significant shares in terms of both volume (in terms of cars sold) as well as revenue generation from mobile batteries used across various applications including EVs, industrial machinery etc.). Growing demand for electric vehicles across countries such as France Germany Italy Poland Russia Turkey Ukraine Greece among others is anticipated favorably impact overall EV battery production capacity utilization rates thereby positively influencing overall vehicle battery technology demand over the coming years.
Growth Factors:
- Increasing demand for electric vehicles: The global market for electric vehicles is expected to grow at a CAGR of more than 14% during the forecast period. This will lead to an increase in the demand for vehicle batteries, thereby driving the growth of the vehicle battery technology market.
- Development of advanced battery technologies: The development of advanced battery technologies such as lithium-ion and lithium-polymer is expected to drive the growth of the vehicle battery technology market. These batteries offer high power density and are less prone to damage, which makes them ideal for use in electric vehicles.
- Growing popularity of hybrid vehicles: Hybrid vehicles are powered by both an internal combustion engine and an electric motor, which makes them more fuel efficient than traditional gasoline or diesel-powered cars. This growing popularity is expected to drive the growth of the vehicle battery technology market during the forecast period.
- Stringent emission norms worldwide: Stringent emission norms across different countries are encouraging automakers to shift towards production of hybrid and electric vehicles, thereby drivingthegrowthofthevehiclebatterytechnologymarketduringtheforecastperiod . 5
Scope Of The Report
Report Attributes
Report Details
Report Title
Vehicle Battery Technology Market Research Report
By Type
Lead-acid Battery, Lithium-ion Battery, Others
By Application
Passenger Vehicles, Commercial Vehicles, Industrial Vehicles, Recreational/Recreational Vehicles, Others
By Companies
Johnson Controls, Chaowei Power, GS Yuasa, Exide Technologies, CATL, East Penn Manufacturing, BYD, Panasonic, PEVE, EnerSys, OptimumNano, Camel, Exide Industries, LG Chem, GuoXuan, FIAMM, SAMSUNG SDI, Fengfan, Amara Raja Batteries, AESC, Lishen, Hitachi, Banner Batteries
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Vehicle Battery Technology Market Report Segments:
The global Vehicle Battery Technology market is segmented on the basis of:
Types
Lead-acid Battery, Lithium-ion Battery, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Vehicles, Commercial Vehicles, Industrial Vehicles, Recreational/Recreational Vehicles, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Johnson Controls
- Chaowei Power
- GS Yuasa
- Exide Technologies
- CATL
- East Penn Manufacturing
- BYD
- Panasonic
- PEVE
- EnerSys
- OptimumNano
- Camel
- Exide Industries
- LG Chem
- GuoXuan
- FIAMM
- SAMSUNG SDI
- Fengfan
- Amara Raja Batteries
- AESC
- Lishen
- Hitachi
- Banner Batteries
Highlights of The Vehicle Battery Technology Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Lead-acid Battery
- Lithium-ion Battery
- Others
- By Application:
- Passenger Vehicles
- Commercial Vehicles
- Industrial Vehicles
- Recreational/Recreational Vehicles
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vehicle Battery Technology Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Vehicle battery technology is the science and engineering of designing, manufacturing, and installing batteries for use in vehicles. Vehicle battery technology includes research into new chemistries, materials, and manufacturing processes as well as development of vehicle-specific electrical systems.
Some of the key players operating in the vehicle battery technology market are Johnson Controls, Chaowei Power, GS Yuasa, Exide Technologies, CATL, East Penn Manufacturing, BYD, Panasonic, PEVE, EnerSys, OptimumNano, Camel, Exide Industries, LG Chem, GuoXuan, FIAMM, SAMSUNG SDI, Fengfan, Amara Raja Batteries, AESC, Lishen, Hitachi, Banner Batteries.
The vehicle battery technology market is expected to register a CAGR of 6.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Vehicle Battery Technology Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Vehicle Battery Technology Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Vehicle Battery Technology Market - Supply Chain
4.5. Global Vehicle Battery Technology Market Forecast
4.5.1. Vehicle Battery Technology Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Vehicle Battery Technology Market Size (000 Units) and Y-o-Y Growth
4.5.3. Vehicle Battery Technology Market Absolute $ Opportunity
5. Global Vehicle Battery Technology Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Vehicle Battery Technology Market Size and Volume Forecast by Type
5.3.1. Lead-acid Battery
5.3.2. Lithium-ion Battery
5.3.3. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Vehicle Battery Technology Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Vehicle Battery Technology Market Size and Volume Forecast by Application
6.3.1. Passenger Vehicles
6.3.2. Commercial Vehicles
6.3.3. Industrial Vehicles
6.3.4. Recreational/Recreational Vehicles
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Vehicle Battery Technology Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Vehicle Battery Technology Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Vehicle Battery Technology Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Vehicle Battery Technology Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Vehicle Battery Technology Demand Share Forecast, 2019-2026
9. North America Vehicle Battery Technology Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Vehicle Battery Technology Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Vehicle Battery Technology Market Size and Volume Forecast by Application
9.4.1. Passenger Vehicles
9.4.2. Commercial Vehicles
9.4.3. Industrial Vehicles
9.4.4. Recreational/Recreational Vehicles
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Vehicle Battery Technology Market Size and Volume Forecast by Type
9.7.1. Lead-acid Battery
9.7.2. Lithium-ion Battery
9.7.3. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Vehicle Battery Technology Demand Share Forecast, 2019-2026
10. Latin America Vehicle Battery Technology Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Vehicle Battery Technology Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Vehicle Battery Technology Market Size and Volume Forecast by Application
10.4.1. Passenger Vehicles
10.4.2. Commercial Vehicles
10.4.3. Industrial Vehicles
10.4.4. Recreational/Recreational Vehicles
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Vehicle Battery Technology Market Size and Volume Forecast by Type
10.7.1. Lead-acid Battery
10.7.2. Lithium-ion Battery
10.7.3. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Vehicle Battery Technology Demand Share Forecast, 2019-2026
11. Europe Vehicle Battery Technology Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Vehicle Battery Technology Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Vehicle Battery Technology Market Size and Volume Forecast by Application
11.4.1. Passenger Vehicles
11.4.2. Commercial Vehicles
11.4.3. Industrial Vehicles
11.4.4. Recreational/Recreational Vehicles
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Vehicle Battery Technology Market Size and Volume Forecast by Type
11.7.1. Lead-acid Battery
11.7.2. Lithium-ion Battery
11.7.3. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Vehicle Battery Technology Demand Share, 2019-2026
12. Asia Pacific Vehicle Battery Technology Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Vehicle Battery Technology Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Vehicle Battery Technology Market Size and Volume Forecast by Application
12.4.1. Passenger Vehicles
12.4.2. Commercial Vehicles
12.4.3. Industrial Vehicles
12.4.4. Recreational/Recreational Vehicles
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Vehicle Battery Technology Market Size and Volume Forecast by Type
12.7.1. Lead-acid Battery
12.7.2. Lithium-ion Battery
12.7.3. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Vehicle Battery Technology Demand Share, 2019-2026
13. Middle East & Africa Vehicle Battery Technology Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Vehicle Battery Technology Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Vehicle Battery Technology Market Size and Volume Forecast by Application
13.4.1. Passenger Vehicles
13.4.2. Commercial Vehicles
13.4.3. Industrial Vehicles
13.4.4. Recreational/Recreational Vehicles
13.4.5. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Vehicle Battery Technology Market Size and Volume Forecast by Type
13.7.1. Lead-acid Battery
13.7.2. Lithium-ion Battery
13.7.3. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Vehicle Battery Technology Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Vehicle Battery Technology Market: Market Share Analysis
14.2. Vehicle Battery Technology Distributors and Customers
14.3. Vehicle Battery Technology Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Johnson Controls
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Chaowei Power
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. GS Yuasa
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Exide Technologies
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. CATL
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. East Penn Manufacturing
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. BYD
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Panasonic
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. PEVE
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. EnerSys
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. OptimumNano
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Camel
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Exide Industries
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. LG Chem
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. GuoXuan
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. FIAMM
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. SAMSUNG SDI
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Fengfan
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Amara Raja Batteries
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. AESC
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
