Since the decade a lot of economical and political changes have been observed across various industries, some of these have been influencing the high adoption of electric vehicles due to decreasing natural resource and shooting up fuel rates. Prominent industry players and researchers foresee that the few trends will reshape and accelerate one another, and automotive industry will take a major lead in utilizing these trends.
Some of the key developments in automotive battery is increasing adoption rate in passenger and commercial vehicles, for example Nissan Motors released hybrid cars a year ago and this has captured market positively, while Nissan has been successful in this segment by selling 1000’s of cars every year. Many such examples are setting up market for electric vehicles and thereby paving the path for automotive battery market. Automotive Battery market
is dominant in vehicle market due to high demand for batteries which serves various automotive applications both in power trains and conventional. Growing demand for hybrid, semi-hybrid and complete electric vehicles will upsurge growth to the automotive battery market in the coming years. However Lithium-ion (Li-ion) batteries will gain high demand and will be the established battery technology for Electric Vehicles and Hybrids Vehicles. The new vehicles market and aftermarket sales of batteries and accessories are expected to rise and according to Johnson Controls an automotive battery manufacturer. New vehicles will be powered with start-stop batteries, this trend will be majorly observed in Europe, followed by the U.S. and China. Automotive battery market is classified into battery type as follows:
Automotive battery market is further bifurcated on the basis of vehicle type as follows:
- Lead Acid Batteries
- Lithium Ion Batteries
- Nickel Metal Hydride Batteries
- Electric Bikes
- Electric Cars
- Hybrid Cars
Furthermore, the global automotive battery market is bifurcated on the basis of regions into North America, Asia Pacific (APAC), Europe and Rest of the World (RoW). Europe leads the global automotive battery market currently owing to a significant adoption of automotive battery by solution and industry verticals. Also, a number of leading players in this industry are based out of this region.Some of the key players in the global automotive battery market include:
- Exide Technologies, Inc. (U.S.)
- Robert Bosch GmbH (Germany)
- Johnsons Controls, Inc. (U.S.)
- Tesla Motors, Inc. (U.S.)
- Delphi Automotive PLC (U.K) among others.