The
automotive batteries market is poised
to grow by 29.57 million units during 2020-2024, according to the latest market
research report by Technavio.
The market is driven by the decline in price of automotive batteries for
electric vehicles. In addition, the rise in sales of passenger cars leading to
growth in demand for automotive batteries is anticipated to boost the growth of
the market.
The sales of electric vehicles have been increasing significantly in
recent years, leading to high demand for powerful batteries that can cover a
longer distance on a single charge. However, most of the electric vehicles
available in the market are quite expensive. For instance, the price of Tesla
is USD 89,000, whereas the price of Nissan Leaf is under USD 30,000. The
battery capacity of Tesla Model S is 72KWH, whereas the battery capacity in
Nissan Leaf is 24KWH. Therefore, automobile manufacturers have been focusing on
reducing the price of the batteries, which will subsequently boost the sales of
EVs. The cost of batteries have been declining considerably over the last few
years. For instance, in 2010, the cost of batteries was about USD1,000 per kWh,
which came down to approximately USD 150 per kWh in 2018. It is expected that
the battery price will come down to below USD 100/kWh by 2030. Therefore, the
declining price of batteries is expected to boost the demand for automotive
batteries.
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Major Five Automotive Batteries Companies:
Amara Raja Batteries Ltd.
Amara Raja Batteries Ltd. is engaged in the manufacture and trading of
lead acid batteries for a wide range of industries which includes solar,
telecom, railway, automotive, and defence. The company offers a range of
batteries under brand names Amaron and PowerZone for passenger vehicles, three
wheelers, two wheelers, commercial vehicles, farm vehicles, and home UPS or
inverters.
East Penn Manufacturing Co. Inc.
East Penn Manufacturing Co. Inc. has business operations under various
segments, such as transportation; motive power; reserve power; and wire, cable
& battery accessories. The company offers a range of batteries such as
Intimidator AGM, Deka Ultimate, Deka EN Exact Fit, Deka Gold, and AUX AGM.
EnerSys
EnerSys operates its business through three geographical divisions,
namely the Americas, EMEA, and Asia. The company offers products such as
Genesis EP batteries, Genesis NP batteries, Genesis XE batteries, Fiamm Motive
power batteries, and Hawker ArmaSafe plus batteries.
Exide Technologies
Exide Technologies has business operations under three segments, namely
GNB motive, GNB network, and transportation. The company offers a wide range of
automotive batteries such as Exide Epiq, Exide Matrix, Exide Mileage, Exide
Eezy, Exide Gold, Exide Xpress, Exide Jai Kisan, and Exide Cabby.
GS Yuasa Corp.
GS Yuasa Corp. operates its business through various segments, such as
automotive batteries (Japan), automotive batteries (Overseas), industrial
batteries and power supplies, automotive lithium-ion batteries. The company
offers YUASA automotive batteries and Lithium ion batteries for EV and HEV.
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