Automotive Battery Market Size, Share, Trends, Growth and Forecast 2032

Automotive Battery Industry Prospective

According to Zion Market Research, the global Automotive Battery Market was worth USD 48.23 Billion in 2023. The market is forecast to reach USD 261.06 Billion by 2032, growing at a compound annual growth rate (CAGR) of 20.64% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Automotive Battery industry over the next decade.

Request Free Sample

Global Automotive Battery Market: Overview

An automotive battery is a battery that supplies electric energy to automobiles. It is also widely known as a “rechargeable battery”. Automotive batteries are mainly used for SLI (starting, lighting, and ignition) systems and their main purpose is to start the system. Apart from starting the engine, automotive batteries supply the extra power required when the vehicle's electrical requirements exceed the supply from the charging system. Moreover, it is a stabilizer that balances potentially damaging voltage spikes.

Global Automotive Battery Market: Growth Factors

The global automotive battery market is proving its dominance in the vehicle market owing to its increasing demand for batteries. These batteries serve numerous automotive applications. Rising demand for hybrid, semi-hybrid and fully electric vehicles will the growth of the automotive vehicles market in a positive way in the near future. In addition, the new trend of providing the latest vehicles with start-stop batteries will further boost the growth of the global market. Owing to the developments in automotive batteries, the adoption rate of these batteries is increasing in passenger and commercial vehicles. All the above-mentioned factors are setting up the market for electric vehicles, which in turn results in the growth of the global automotive battery market.

The global automotive battery market is driven by several key growth factors. One of the primary drivers is the increasing demand for electric vehicles (EVs) and hybrid vehicles, fueled by the global push toward reducing carbon emissions and achieving sustainability goals. Governments worldwide are offering incentives and subsidies to promote EV adoption, which, in turn, is boosting the demand for automotive batteries, particularly lithium-ion batteries. Additionally, advancements in battery technologies, such as improved energy density, faster charging, and longer lifespans, are propelling market growth.

Another significant factor is the rise in vehicle electrification across conventional internal combustion engine (ICE) vehicles, where batteries are used for start-stop systems, infotainment, and other electronic components. The increasing production of automobiles in emerging markets, along with the growing consumer preference for fuel-efficient vehicles, also contributes to the market’s expansion. Moreover, the growing focus on sustainable and eco-friendly materials for battery manufacturing, alongside the development of battery recycling technologies, is further shaping the market's trajectory.

Request Free Sample

Global Automotive Battery Market: Segmentation

On the basis of battery type, the automotive battery market is segmented as lead acid batteries, lithium-ion batteries, nickel metal hybrid batteries, and others.

Further, the market is segmented based on vehicle type as electric bikes, hybrid cars, electric cars, and others.

On the basis of application, the market can be segmented as two/three wheeler batteries, car and light van batteries, heavy motor vehicle batteries, and others.

Automotive Battery Market: Report Scope

Global Automotive Battery Market: Regional Analysis

North America dominates the global market followed by Europe and the Asia Pacific. The automotive battery market is anticipated to witness moderate but steady growth in the near future. The highest growth rate is observed in the Asia Pacific and is expected to rise in the coming years. China on the other hand ranks as the fastest growing automotive battery market owing to the high demand for commercial and passenger vehicles in the region. In addition, the new trend of vehicles with the latest features will be largely observed in Europe along with the U.S. and China. Increasing demands from other Asian countries such as India, Malaysia, Thailand, and the Philippines further impact the global market growth in a positive way.

Global Automotive Battery Market: Competitive Players

• East Penn Manufacturing Co.
• Camel Group Co.
• Exide Technologies
• FIAMM S.p.A.
• Fengfan Co.
• Douglas Battery
• Zhejiang Narada Power Source Co. 
• Johnson Controls 
• The Furukawa Battery Co.
• Shandong Sacred Sun Power Sources Co.
• Zhejiang Haijiu Battery Co.
• Chaowei Power Holdings 
• Hitachi 
• Shandong Sacred Sun Power Sources Co.
• GS Yuasa Corporation.

The Global Automotive Battery Market is segmented as follows:

By Type

• Lead Acid Batteries
• Lithium Ion Batteries
• Nickel Metal Hybrid Batteries
• And Others

BY Vehicle Type

• Electric Bikes
• Hybrid Cars
• Electric Cars
• And Others

By Application

• Two/Three Wheeler’s Battery
• Car And Light Van’s Battery
• Heavy Motor Vehicles’ Battery
• And Others

Automotive Battery Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa