The global Passenger Vehicle Batteries Market size is expected to be valued at USD 3.5 billion in 2022 and is growing at a CAGR of 13.8% during the forecast period 2022 to 2030.
Passenger Vehicle Batteries Market Overview:
Growing demand for electric vehicles and continuous innovation in battery technology is expected to drive the demand for lithium-ion based batteries followed by nickel based batteries over the next decade. Passenger vehicle batteries are rechargeable battery packs used in hybrid or plug-in electric vehicles to power the electrical system, provide emergency backup power, and maintain current. Most modern cars have one or more large medium-sized lead-acid batteries under the hood to start the internal combustion engine (ICE) at high cranking amps in cold temperatures in harsh winter climate conditions. These batteries are mainly used in cars, buses, trucks and other types of vehicles.
Passenger Vehicle Batteries market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Passenger Vehicle Batteries market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
- In May 2021, premium automaker Daimler Truck AG and leading lithium-ion battery manufacturer CATL announced the expansion of their global strategic partnership to develop advanced next-generation batteries for truck-specific applications.
- In March 2021, General Motors partnered with lithium metal battery developer SolidEnergy Systems to form a joint venture for EV battery development.
The Passenger Vehicle Batteries market research report is categorized based on type, applications and region.
Market Key Players:
BYD, East Penn Manufacturing, Enersys, Exide Technologies, GS Yuasa, Toshiba, Samsung SDI, Panasonic, NEC, LG Chem, Johnson Controls, Hitachi, and others.
- Lithium-ion Based
- Lead-acid Based
- Sodium-ion Based
- Internal Combustion Engine Vehicles
- Start Stop Vehicles
- Advanced Start-Stop Vehicles
- Micro-Hybrid Vehicles
- Hybrid Electric Vehicles
Geographically, the global Passenger Vehicle Batteries market has been analysed in various regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).
North America is expected to dominate the market in terms of value over the next five years. Latin America is expected to be the fastest growing market in terms of CAGR over the forecast period. Europe is expected to be the second largest market for passenger vehicle batteries.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Passenger Vehicle Batteries Market report scope
CAGR of 13.8% from 2022 to 2030.
Lithium-ion Based, Nickel-Based, Lead-acid Based, Sodium-ion Based
Internal Combustion Engine Vehicles, Start Stop Vehicles, Advanced Start-Stop Vehicles, Micro-Hybrid Vehicles, Hybrid Electric Vehicles
BYD, East Penn Manufacturing, Enersys, Exide Technologies, GS Yuasa, Toshiba, Samsung SDI, Panasonic, NEC, LG Chem, Johnson Controls, Hitachi
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2023 to 2030
Key Takeaways from this Passenger Vehicle Batteries Report
- Estimate Passenger Vehicle Batteries market potential through analysing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Passenger Vehicle Batteries market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions
At what CAGR is the Passenger Vehicle Batteries market projected to grow in the forecast period 2022 to 2030?
What are the types of Passenger Vehicle Batteries market?
What are the applications of Passenger Vehicle Batteries market?
Who are the top players in Passenger Vehicle Batteries market?
Which application segment is expected to drive the growth of the Passenger Vehicle Batteries market in the next 5 years?
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