Automotive Battery Technologies Market Trends and Analysis by Technology, Companies and Forecast to 2028
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Automotive Battery Technologies Market Report Overview
The advanced NiMH/lithium-ion batteries market size was 26.5 million units in 2023. The market will grow at a CAGR of more than 15% during 2023-2028. Lithium-ion batteries lead the advanced automotive batteries market. In 2023, Asia-Pacific accounted for a significant share of the automotive battery technologies market.
Advanced NiMH/Lithium-Ion Batteries Market Outlook, 2023-2028 (Million Units)
Buy the Full Report for More Insights into the Automotive Battery Technologies Market
The automotive battery technologies market research report provides a comprehensive overview of the automotive battery market trends and drivers. The report also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers at a global and regional level. Furthermore, evaluate strategic initiatives taken by market players and their recent product innovations to identify growth opportunities. The report also provides an overview of patent filings in the sector across regions, countries, and top applicants.
Market Size (2023) | 26.5 million units |
CAGR (2023-2028) | >15% |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
Key Regions | Asia-Pacific, Europe, North America, South America, and MEA |
Key Companies | CATL, BYD, Primearth Energy, LG Chem, and Panasonic |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Automotive Battery Technologies Market Trends
The key trends shaping the automotive battery market are an increasing search for alternative battery chemistries and a rise in the price of battery raw materials.
Increasing search for alternative battery chemistries: The cost and availability of lithium-ion battery raw materials concern the automotive companies. The cost of recycling these batteries poses further challenges as well. Hence automotive companies must look for the development of alternative battery technologies.
Buy the Full Report for More Trend Insights into the Automotive Battery Technologies Market
Automotive Battery Technologies Market Segmentation by Regions
In 2023, Asia-Pacific accounted for the highest share among all the regions
The key regions in the automotive battery technologies market are Asia-Pacific, Europe, North America, South America, and MEA. Recently, a few Southeast Asian countries including China, Japan, and South Korea have been promoting electric mobility adoption by implementing supportive policies, incentives, and infrastructure development.
Automotive Battery Technologies Market Analysis by Regions, 2023 (%)
Buy the Full Report for More Regional Insights into the Automotive Battery Technologies Market
Automotive Battery Technologies Market - Competitive Landscape
CATL accounted for the highest market share in 2021
A few of the top companies operating in the market are:
- CATL
- BYD
- Primearth Energy
- LG Chem
- Panasonic
Chinese battery company CATL introduced condensed matter batteries. CATL claim that these batteries can provide enough energy to run electric passenger planes in civil aviation.
Moreover, the company is taking strategic actions to aid the growth of the automotive battery technologies market. In June 2023, the Bolivian government made a contract with CATL to invest in boosting the country’s unexplored lithium riches.
Automotive Battery Technologies Market Analysis by Companies, 2021 (%)
Buy the Full Report to Know More about Major Developments and Strategic Actions of Automotive Battery Technologies Market Companies
Automotive Battery Technologies Market - Latest Developments
A few of the latest developments in the automotive battery technologies market are as follows:
- 20th September 2023: Michigan-based Coherix developed a quality-control technology that increases EV battery security, longevity, and overall quality. The technology also decreases production costs.
- 18th September 2023: GS Yuasa Corporation is a provider of OEM and aftermarket batteries. Osamu Murao, president of the GS Yuasa Corporation formally opened a new building at Ignition Park.
Buy the Full Report to Know More about the Latest Developments in the Automotive Battery Technologies Market
Segments Covered in the Report
Automotive Battery Technologies Regional Outlook (Value, Million Units, 2018-2028)
- Asia-Pacific
- Europe
- North America
- South America
- MEA
Scope
- Provides an overview of the current key trends, drivers, technologies, and developments that will influence the sector’s growth in the future.
- Provides a regional overview across five regions highlighting industry size, growth drivers, latest developments, and future inhibitors.
Reasons to Buy
- The report provides its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector.
- The report analyzes regions and competitive landscape that can help companies gain insight into the region-specific nuances.
- The report assesses the key trends that drive customer choice and the future opportunities that can be explored in the region. Actionable insights on trends can help companies in revenue expansion.
- The report helps gain competitive intelligence about leading component suppliers in the region with information about their market share and growth rates.
BYD Auto
Primearth Energy
LG Chem
Panasonic
Table of Contents
Table
Figures
Frequently asked questions
-
What was the automotive battery technologies market size in 2023?
The battery technologies market size was 26.5 million units in 2023.
-
What is the growth rate of the automotive battery technologies market?
The battery technologies market is expected to record a CAGR of more than 15% during 2023-2028.
-
Which was the leading region in the automotive battery technologies market in 2023?
Asia-Pacific was leading in the automotive battery technologies market in 2023.
-
Which are the key companies operating in the automotive battery technologies market?
The top companies operating in the automotive battery technologies market are CATL, BYD, Primearth Energy, LG Chem, and Panasonic, among others.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.