Car Battery Market Is Likely to Experience Tremendous Growth in the near Future Till 2030
Posted 2023-04-10 09:40:08
0
1K
Market Overview
The global Car Battery Market is expected to reach USD 1,03,470 Million between 2023 and 2030. During this forecast period, the market is expected to grow at a CAGR of 6.5%. The increasing use of infotainment systems in automobiles has increased the demand for energy-efficient batteries. The expanding automotive industry in emerging economies has aided the expansion of the Car Battery Market. Rising consumer preference for pollution-free electric and hybrid vehicles has led to market growth in the forecast period. The global Car Battery market is expected to grow steadily during the forecast period, owing to end users' increasing preference for zero-emission hybrid and electric vehicles due to falling battery prices, dwindling crude oil reserves, and the environmental effects of conventional automobiles.
Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/4763
Furthermore, an increase in global battery production capacity has aided in achieving economies of scale in the Car Battery industry, another major driver of market growth. The impact of COVID-19 on any industry is unavoidable, as there have been continuous lockdowns and halts of manufacturing units worldwide. The COVID-19 pandemic slowed battery supply chains because most battery cells are manufactured in China, emphasizing China's dependence and its associated risks. This has sparked interest among stakeholders in the EU and US regions for the localization/rationalization of supply chains, paving the way for new market opportunities.
Market segmentation:
The global Car Battery market is divided into Vehicle, engine, function and battery type.
By Vehicle type, the market is divided into:
Heavy commercial vehicles
Passenger cars
Light commercial vehicles.
By engine type, the market is further divided into:
Internal Combustion Engine
Electric Vehicle
By function type, the market is further divided into:
Lightning sector
Ignition sector
Start sector
Electric Propulsion sector
By battery type, the market is further divided into:
Lithium-Ion
Lead Acid
Nickel Metal
Regional analysis:
The Car Battery Market is divided into North America, Asia-Pacific, South America, Europe, the Middle East and Africa. Due to the rising demand for electric passenger and commercial vehicles, the Asia-Pacific region is expected to experience the fastest growth in Car Battery value. However, North America dominates the Car Battery market outlook due to all major lead-acid battery manufacturers in the region. Growing product demand for automotive applications in various countries, including South Korea, India, Malaysia, and Indonesia, is expected to influence the region's growth during the forecast period. Furthermore, ongoing product development by various companies to manufacture cost-effective and high-performance vehicles is expected to contribute to the regional market's growth. Furthermore, government initiatives to provide subsidies for electric vehicle adoption are expected to drive market growth during the forecast period.
Recent developments:
Stellantis and Samsung announced a USD 2.5 billion investment in May 2023 to build a battery manufacturing facility in Indiana. The factory is expected to begin production by 2025.
Toyota announced in December 2021 that it would invest USD 1.3 billion in the construction of a battery manufacturing plant in North Carolina. The plant is expected to start production in 2025 and will be able to produce Lithium-Ion batteries for vehicles.
Mercedes-Benz established its sustainable battery logistics center in Germany in February 2023.
Browse In-depth Market Research Report @ https://www.marketresearchfuture.com/reports/automotive-battery-market-4763
More Trending Reports Here
Advanced Suspension Control System Market Research
Automotive Turbocharger Market Share
Automotive Hydraulics System Market Share
Automotive Air Conditioning Market
About Market Research Future -
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles.
MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone: +1 628 258 0071(US) +44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Search
Sponsored
Categories
- Industry
- Art
- Causes
- Crafts
- Dance
- Drinks
- Film
- Fitness
- Food
- Games
- Gardening
- Health
- Home
- Literature
- Music
- Networking
- Other
- Party
- Religion
- Shopping
- Sports
- Theater
- Wellness
- News
Read More
https://www.facebook.com/Truly-Keto-Gummies-108515318578598
https://sites.google.com/view/trulyketogummies/home
https://truly-keto-gummies-2.jimdosite.com/...
Valid C-S4CWM-2202 Exam Tutorial | C-S4CWM-2202 Valid Exam Fee & Preparation C-S4CWM-2202 Store
BONUS!!! Download part of PracticeTorrent C-S4CWM-2202 dumps for free:...
Enterprise Software Market Share, Size and Growth Report 2023
Enterprise Software Market Overview:
The enterprise software market is projected to...
Programmatic Advertising Market Prospects and Growth Assessment
Understanding The Programmatic Advertising Market
Programmatic advertising leverages advanced...
7 Things To Consider Before Hiring ASP.NET Development Services
Technology has now become the driving force behind every business model. No matter what your...