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.
Buy 1 Technavio report and
get the second for 50% off. Buy 2 Technavio reports and get the third for free.
View market snapshot before purchasing
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.
No comments:
Post a Comment