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According to a new market report published by Lucintel, the future of the automotive battery market looks promising with opportunities in the passenger cars and commercial vehicles. The automotive battery market is expected to reach an estimated $117.5 billion by 2027 with a CAGR of 7.8% from 2021 to 2027. The major drivers for this market are growth in automotive production and growing preference for electric and hybrid vehicles.

In this market, lead acid, lithium-ion, and others are major battery type of automotive battery. Lucintel forecasts that the lithium-ion battery is expected to witness the highest growth over the forecast period as they are used in application that require high energy density solutions such as hybrid and electric vehicles

Within the automotive battery market, the passenger vehicles segment will remain the largest segment over the forecast period due to an increase in passenger car sales and the increasing adoption of electric vehicles.

Asia Pacific is expected to remain the largest market due to growing sales of passenger cars, commercial cars, and motor vehicles and growing demand for vehicles in the region such as India and South Korea.

A123 Systems, Exide Industries, GS Yuasa, Panasonic, LG Chem, BYD Company, and East Penn Manufacturing Company are among the major suppliers of automotive battery.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive battery market by battery type, vehicle type, engine type, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Automotive Battery Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global automotive battery market by battery type, vehicle type, engine type, and region as follows:































This 211-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/automotive-battery-market.aspx or write us at helpdesk@lucintel.com.

About Lucintel

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high growth opportunities for the global automotive battery market by battery type (lead acid, lithium-ion, and others), vehicle type (passenger cars, commercial vehicles, electric vehicles, and others), engine type (internal combustion engine and electric vehicles), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are the changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?