Vehicle Battery Market Poised to Reach the Valuation of over US$43.4 Bn Through 3030

London, Oct. 10, 2022 (GLOBE NEWSWIRE) -- A new Fairfield Market Research report offers growth analysis and forecast of vehicle battery market between 2021 and 2030. Exhibiting steady growth of around 4.6%, global vehicle battery market is slated for the revenue of more than US$43.4 Bn toward the end of forecast period. With advanced battery technologies promising the delivery of superior performance and safety in addition to an extended life span, global vehicle battery market is likely to remain on an uptrend. Vehicle battery sales will remain upbeat as the global sustainability drive boosts e-mobility journey. With an increasing number of nations targeting the zero emission transportation soon in the future, vehicle battery market will continue to be on an uptrend. The favourable regulatory framework that fosters electric vehicle (EV) sales will offer a phenomenal push to market expansion. The trend is expected to be more prominent across the developed markets of Europe, followed by North America. The report however also highlights the fact that the developing Asian economies have also been witnessing rapid development of the policy structure in favour of EV industry, which is also a strong driving force for vehicle battery market.

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Key Research Insights

• The global vehicle battery market revenue is likely to showcase around 1.5x expansion between 2021 and 2030
• Li-ion batteries anticipate a robust 15% sales growth by the end of 2030
• China remains the global leader in vehicle battery market, housing more than 45% of the globally based manufacturing plants
  
  

Insights into Segmental Analysis

The report indicates clear dominance of Li-ion batteries in terms of sales on account of their superior energy density, greater safety, and longer life span. Projected for nearly 15% growth in sales through the end of 2030, Li-ion batteries will remain the spearheading battery type segment, says the report. While growing integration of electric and hybrid drivetrains is expected to enable the incorporation of efficient EV batteries, Li-ion batteries will most likely experience notable spike in demand. In terms of revenue, Li-ion battery sales are likely to generate the revenue worth US$28.3 Bn in vehicle battery market by 2030 end.

Key Report Highlights

• Despite receiving a strong thrust from lucrative incentives, and subsidies on battery-operated vehicles, the market continues to face a major challenge in form of the stubbornly expensive price point of vehicle battery packs
• The market is likely to witness effective R&D collaborations between automakers, battery makers, tech giants and start-ups, and research facilities
• Research around high-density vehicle batteries picks pace, faster charging, and amplified storage attributes attract major R&D investments
  
  

Insights into Regional Analysis

Developed nations across North America, and Europe continue to be in the bandwagon of creating a continuous stream of demand for vehicle battery market. However, the report points to the maximum business opportunity residing across the fast-developing markets across the Asian subcontinent. The rapidly transforming auto industry in favour of EVs is projected to substantially contribute toward the growth of vehicle battery market in Asia Pacific. China, currently housing over 45% of the battery manufacturing bases from around the world, is poised to represent the lion's share in market expansion across the region. Japan, and South Korea will follow.

Leading Companies in Global Vehicle Battery Market

Panasonic Corporation, LG Chem Ltd., BYD Company Limited, Johnson Controls International PLC, SAMSUNG SDI Co., Ltd., Contemporary Amperex Technology Co., and Limited are some of the significant players driving competition in global vehicle battery market. The report subjects some of the market leaders to detailed strategic profiling and analysis in the report.

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REPORT SCOPE

Market Segmentation

Battery Coverage

• Lead Acid
• Lithium-ion
• Others
  
  

Vehicle Coverage

• Passenger Vehicles (PV)
• Light Commercial Vehicles (LCV)
• Medium & heavy Commercial Vehicles (MHCV)
  
  

Electrification Coverage

• ICE/Micro Hybrid/ Start-Stop
• Mild Hybrid/ Full Hybrid
• Plug-in Hybrid/ Battery Electric Vehicle
  
  

Sales Channel

• OEM
• Aftermarket

Geographical Coverage

• North America
• Europe
• Latin America
• Middle East & Africa

Leading Companies

• Contemporary Amperex Technology Co., Limited.
• Clarios (Johnson Controls International PLC)
• LG Chem
• GS Yuasa Corporation
• EnerSys
• C & D Technologies, Inc.
• BYD Company Ltd.
  
  

Report Inclusions

• Market Estimates and Forecast
• Market Dynamics
• Industry Trends
• Competition Landscape
• Technology-wise Analysis
• Application-wise Analysis
• Region-wise Analysis
• Country-wise Analysis
• Key Trends Analysis
• COVID-19 Impact Analysis

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