How big is the Automotive Battery Market?

The Automotive Battery Market size is expected to reach USD 93.27 billion in 2024 and grow at a CAGR of 20.53% to reach USD 237.28 billion by 2029. Read More

What is the current Automotive Battery Market size?

In 2024, the Automotive Battery Market size is expected to reach USD 93.27 billion. Read More

Who are the key players in Automotive Battery Market?

Panasonic Corporation, Exide Technologies, GS Yuasa Corporation, Samsung SDI Co. Ltd. and Clarios are the major companies operating in the Automotive Battery Market. Read More

Which is the fastest growing region in Automotive Battery Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Automotive Battery Market?

In 2024, the Asia-Pacific accounts for the largest market share in Automotive Battery Market. Read More

What years does this Automotive Battery Market cover, and what was the market size in 2023?

In 2023, the Automotive Battery Market size was estimated at USD 74.12 billion. The report covers the Automotive Battery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Battery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Automotive Battery Market Report | Industry Trends, Size & Growth Analysis

Automotive Battery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Automotive Battery Market Report is Segmented by Battery Type (Lead Acid, Lithium-Ion, and Other Battery Types), Vehicle Type (Passenger Cars and Commercial Vehicles), Drive Type (IC Engines and Electric Vehicles), and Geography (North America, Europe, Asia-Pacific, and the Rest of the World). The Report Offers Market Size and Forecasts for the Automotive Battery Market in Value (USD) for all the Above Segments.

Automotive Battery Industry Overview

The automotive battery market is consolidated. A few prominent companies include Panasonic Corporation, Exide Technologies, Clarios, GS Yuasa Corporation, Samsung SDI Co. Ltd, and LG Chem Ltd. Several companies in the market are focusing on improving their products and service portfolios to widen their customer base. Some other key players aim to expand their presence in the market through product and service launches, offerings expansion, mergers, and collaborations with other companies. For instance, in March 2023, the United States and Japan reached an agreement regarding the trade of critical minerals used for EV batteries to secure the supplies of battery materials.

In March 2023, Li-Cycle Holdings Corp. signed a definitive agreement for a global lithium-ion battery recycling partnership with the KION Group and announced plans to develop a new lithium-ion battery recycling facility in France.

In March 2023, Morrow Batteries (Morrow) invested EUR 20 million in the production of Lithium iron phosphate (LFP) battery cells in South Korea.