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Allied Market Research

Automobile Storage Battery Market By Type (Nickel Cadmium Battery, Nimh Batteries, Lithium-Ion Battery, Lithium Polymer Battery, Lead-Acid Battery), Vehicle Type (Passenger vehicles, Commercial vehicles, Electric Vehicles (BEV, PHEV), and Others), Engine Type (Internal Combustion Engine, Electric Vehicles), and Application (Electric Car and Non-Electric Car), Global Opportunity Analysis and Industry Forecast, 2021–2030

A12209
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Sep 2021 | 78 Views
   
Author(s) : Vijay Poola
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COVID-19

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Automobile Storage Battery Market Outlook- 2030

An automotive storage battery, also known as an automotive battery, is a rechargeable battery that is used to start a vehicle. Its primary function is to supply an electric current to the electric-powered starting motor, which then starts the chemically-fueled internal combustion engine that drives the vehicle. The battery continues to supply power to the car's electrical systems after the engine is running, with the alternator charging the battery as demand increases or decreases. The market is expected to grow steadily, due to end users' growing preference for zero-emission hybrid and electric vehicles as well as falling battery prices, dwindling crude oil reserves, and conventional automobiles' negative environmental effects. In addition, expansion in the global battery manufacturing capacity has aided the automotive battery sector in achieving economies of scale, which is another key driver of the automobile storage battery market.

The global automobile storage battery market is segmented on the basis of type, vehicle type, engine type, application, and region. Based on type, the market is divided into nickel cadmium battery, nimh batteries, lithium-ion battery, lithium polymer battery, lead-acid battery. In terms of vehicle type, the market is categorized into passenger vehicles, commercial vehicles, electric vehicles (BEV, PHEV), and others. On the basis of engine type, the market is divided into internal combustion engine, electric vehicles. On the basis of application, the market is divided into electric car and non-electric car. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global automobile storage battery industry include Bosch, Moll Batteries, Motorcraft, GS Yuasa, GS Battery, AC Delco, Exide Technologies, Primearth EV Energy, Esan Battery, A123 Systems. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global automobile storage battery market.

Market Scope and Structure Analysis

Report Metric

Details

  Market Size Available for Years

  2020–2030

  Base Year Considered

  2020

  Forecast Period

  2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

   Type, Vehicle Type, Engine Type, Application, and Region

  Regions Covered

North America (the U.S. and Canada), Europe (Germany, the UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)

  Companies Covered

Bosch, Moll Batteries, Motorcraft, GS Yuasa, GS Battery, AC Delco, Exide Technologies, Primearth EV Energy, Esan Battery, A123 Systems

 

COVID-19 Impact Analysis

COVID-19 had an inevitable influence on any industry, since there were ongoing lockdowns and halts of industrial units across the world. As most battery cells are made in China, the COVID-19 epidemic has delayed battery supply chains, emphasizing China's reliance and related concerns. This has sparked interest among different players in the U.S. and the EU for supply chain localization/regionalization, paving the door for new automobile storage battery market share opportunity.

Top Impacting Factors

Governments of countries, such as the U.S., Japan, and China, are offering incentives and tax credits to encourage the adoption of electric cars, which is expected to boost the demand for automobile storage battery market. For example, the Internal Revenue Service (IRS) offers a tax credit of $2,500-7,500 for each new electric car purchased in the U.S. Similarly, California offers $2,500 rebate, Delaware offers $1,000 rebate, and Colorado offers $5,000 tax credit on electric car purchases.

 In February 2020, Panasonic and Toyota formed a joint venture to develop electric car batteries. Panasonic stated mass manufacturing of batteries for electric vehicles that begun at the Gigafactory in Nevada, which was built in partnership with Tesla. All these factors the surging the automobile storage battery market globally.

New product launches to flourish the market

Inverted Energy, a Delhi-based battery manufacturer, built its lithium battery production plant in New Delhi, India, in November 2020. The plant's commissioning aims to reduce the country's reliance on China, with a current production capacity of 100 MWh (megawatt hour) per year.

LG Chem Ltd, a Korean Chemical company announced in December 2020 that it plans to double its battery cell manufacturing capacity in China for Tesla Inc. electric cars (EV) in 2021 to keep up with its U.S. client's development in the world's largest car market. It is a supplier for Tesla's Shanghai-built Model 3, would also export expanded production from China and Korea to Tesla's plants in Germany and the U.S.

Surge in usage in electric automobiles

The automobile storage battery market is expected to develop at a rapid rate. Lithium-ion batteries are designed for applications that need great energy density such as hybrid and electric vehicles. Additionally, manufacturers are always focused on lowering the price of the battery to enhance vehicle economies, pushing market expansion internationally.

 Manufacturers are attempting to lower the cost of lithium-ion batteries by implementing rigorous fuel economy requirements in nations such as the U.S., India, Germany, and Japan, thereby increasing the demand for electric vehicles. For instance, in September 2019, Maruti Suzuki collaborated with Toshiba and Denso to open the world's largest vehicle lithium-ion battery production facility in Gujarat (India).

Key Segments Covered

Segment

Sub-Segment

  Type

  • Nickel Cadmium Battery
  • Nimh Batteries
  • Lithium-Ion Battery
  • Lithium Polymer Battery
  • Lead-Acid Battery

  Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles
  • Electric Vehicles
    • BEV
    • PHEV
  • Others

  Engine Type

  • Internal Combustion Engine
  • Electric Vehicles

  Application

  • Electric Car
  • Non-electric Car

 

Key Benefits of the Report

  • This study presents the analytical depiction of the automobile storage battery industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the automobile storage battery market trends.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the automobile storage battery market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the automobile storage battery market forecast.
  • The report provides a detailed automobile storage battery market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in Automobile Storage Battery Market Report

  • Which are the leading players active in the automobile storage battery market size?
  • What are the detailed impacts of COVID-19 on the market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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