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Automotive Battery Packs Market By Product Type, By Application And Geographic: Analysis, Size, Growth, Trends, And Forecast, 2024-2028

  • Published: Nov 2024
  • Pages: 160
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Market Size

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The global Automotive Battery Packs market is experiencing robust growth and is expected to continue expanding significantly over the forecast period. This growth is driven by the increasing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs) worldwide.

Market Report Highlights

Battery
  • Lithium-Ion Battery Packs
  • Nickel-Metal Hydride Battery Packs
  • Solid-State Battery Packs
Vehicle
  • Passenger Vehicles
  • Commercial Vehicles
Regional Landscape
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
Key Companies Profiled
  • Panasonic Corporation
  • LG Chem Ltd.
  • BYD Company Limited

Market Report Insights

  • Technological Advancements: Evolution from lithium-ion to solid-state batteries, improving energy density, reducing charging times, and enhancing battery life.
  • Consumer Trends: Increasing acceptance of electric vehicles, demand for longer battery range, and preferences for sustainable transportation solutions.
  • Regulatory Environment: Stringent emission norms and incentives promoting electric vehicle adoption driving market dynamics.

Market Segmentation

  • By Battery Type:
    • Lithium-Ion Battery Packs
    • Nickel-Metal Hydride (NiMH) Battery Packs
    • Solid-State Battery Packs
  • By Vehicle Type:
    • Passenger Vehicles
    • Commercial Vehicles
  • By Electric Vehicle Type:
    • Battery Electric Vehicles (BEVs)
    • Hybrid Electric Vehicles (HEVs)
    • Plug-in Hybrid Electric Vehicles (PHEVs)

Regional Analysis

  • North America: Leading market, driven by strong consumer demand for electric vehicles, government incentives, and technological advancements in battery technology.
  • Europe: Significant market share, with countries like Germany, Norway, and the UK leading in electric vehicle adoption and supportive regulatory frameworks.
  • Asia-Pacific: Fastest-growing market, attributed to rapid urbanization, government initiatives promoting electric mobility, and dominance of battery manufacturers in countries like China and Japan.
  • Rest of the World: Increasing investments in electric vehicle infrastructure and adoption in regions like Latin America and the Middle East & Africa.

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Competitive Landscape

  • Panasonic Corporation: Major supplier of lithium-ion batteries for electric vehicles, with a strong global footprint and technological expertise.
  • LG Chem Ltd.: Leading provider of advanced batteries, including lithium-ion and solid-state batteries, for various automotive applications.
  • Contemporary Amperex Technology Co. Limited (CATL): Largest battery manufacturer in China, focusing on lithium-ion batteries for electric vehicles.
  • BYD Company Limited: Chinese automaker and battery manufacturer known for its electric vehicles and battery packs.
  • Samsung SDI Co., Ltd.: Diversified manufacturer of lithium-ion batteries, serving automotive and electronics industries.
  • Tesla, Inc.: Pioneer in electric vehicles and energy storage solutions, known for its vertically integrated approach and innovative battery technology.

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Market Dynamics

  • Drivers: Increasing adoption of electric vehicles, advancements in battery technology, supportive government policies, growing consumer awareness of environmental issues, and expanding charging infrastructure.
  • Restraints: High initial costs of electric vehicles, concerns over battery range and charging infrastructure, supply chain constraints for critical materials, and competition from internal combustion engine vehicles.
  • Opportunities: Development of solid-state batteries offering higher energy density and safety, growth in the commercial vehicle segment, and expansion in emerging markets with supportive regulatory environments.

FAQ

1. What are automotive battery packs?

Automotive battery packs are rechargeable energy storage units used to power electric vehicles (EVs) and hybrid electric vehicles (HEVs). They typically consist of lithium-ion cells or other battery chemistries designed to provide sufficient energy and power for vehicle operation.

2. What factors are driving the growth of the automotive battery packs market?

Key drivers include the shift towards electric mobility, government incentives promoting clean energy vehicles, advancements in battery technology improving energy density and charging times, and expansion of charging infrastructure.

3. Which regions are leading in the automotive battery packs market?

North America and Europe are leading markets due to strong consumer demand for electric vehicles, supportive regulatory frameworks, and technological advancements in battery technology. Asia-Pacific is also a significant growth region, driven by major battery manufacturers and increasing electric vehicle adoption.

4. What are the challenges faced by the automotive battery packs market?

Challenges include high initial costs of electric vehicles, concerns over battery range and charging infrastructure, supply chain constraints for critical materials like lithium and cobalt, and competition from traditional internal combustion engine vehicles.

5. What opportunities exist in the automotive battery packs market?

Opportunities include the development of solid-state batteries offering higher energy density and safety, growth in the commercial vehicle segment with electric buses and trucks, and expansion into emerging markets with supportive regulatory environments and increasing investments in infrastructure.

6. Who are the key players in the automotive battery packs market?

Major players include Panasonic Corporation, LG Chem Ltd., Contemporary Amperex Technology Co. Limited (CATL), BYD Company Limited, Samsung SDI Co., Ltd., and Tesla, Inc., known for their technological expertise, global presence, and contributions to the electric vehicle industry.

Table of Contents

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
  • 3.4 Market outlook: Forecast for 2023-2028
    • Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
    • Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)

4 Historic Market Size

  • 4.1 Dietary supplements market in North America 2018 - 2022
    • Exhibit 18: Historic Market Size – Data Table on dietary supplements market in north America 2018 - 2022 ($ billion)
  • 4.2 Distribution Channel Segment Analysis 2018 - 2022
    • Exhibit 19: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ billion)
  • 4.3 Product Segment Analysis 2018 - 2022
    • Exhibit 20: Historic Market Size – Product Segment 2018 - 2022 ($ billion)
  • 4.4 Geography Segment Analysis 2018 - 2022
    • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

  • 5.1 Five forces summary
    • Exhibit 22: Five forces analysis - Comparison between 2023 and 2028
  • 5.2 Bargaining power of buyers
    • Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
  • 5.3 Bargaining power of suppliers
    • Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
  • 5.4 Threat of new entrants
    • Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028
  • 5.5 Threat of substitutes
    • Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028
  • 5.6 Threat of rivalry
    • Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028
  • 5.7 Market condition
    • Exhibit 28: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Distribution Channel

  • 6.1 Market segments
    • Exhibit 29: Chart on Distribution Channel - Market share 2023-2028 (%)
    • Exhibit 30: Data Table on Distribution Channel - Market share 2023-2028 (%)
  • 6.2 Comparison by Distribution Channel
    • Exhibit 31: Chart on Comparison by Distribution Channel
    • Exhibit 32: Data Table on Comparison by Distribution Channel
  • 6.3 Offline - Market size and forecast 2023-2028
    • Exhibit 33: Chart on Offline - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 34: Data Table on Offline - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 35: Chart on Offline - Year-over-year growth 2023-2028 (%)
    • Exhibit 36: Data Table on Offline - Year-over-year growth 2023-2028 (%)
  • 6.4 Online - Market size and forecast 2023-2028
    • Exhibit 37: Chart on Online - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 38: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 39: Chart on Online - Year-over-year growth 2023-2028 (%)
    • Exhibit 40: Data Table on Online - Year-over-year growth 2023-2028 (%)
  • 6.5 Market opportunity by Distribution Channel
    • Exhibit 41: Market opportunity by Distribution Channel ($ billion)
    • Exhibit 42: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

  • 7.1 Market segments
    • Exhibit 43: Chart on Product - Market share 2023-2028 (%)
    • Exhibit 44: Data Table on Product - Market share 2023-2028 (%)
  • 7.2 Comparison by Product
    • Exhibit 45: Chart on Comparison by Product
    • Exhibit 46: Data Table on Comparison by Product
  • 7.7 Others - Market size and forecast 2023-2028
    • Exhibit 63: Chart on Others - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 64: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 65: Chart on Others - Year-over-year growth 2023-2028 (%)
    • Exhibit 66: Data Table on Others - Year-over-year growth 2023-2028 (%)
  • 7.8 Market opportunity by Product
    • Exhibit 67: Market opportunity by Product ($ billion)
    • Exhibit 68: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

  • 8.1 Customer landscape overview
    • Exhibit 69: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation
    • Exhibit 70: Chart on Market share by geography - 2023-2028 (%)
    • Exhibit 71: Data Table on Market share by geography - 2023-2028 (%)
  • 9.2 Geographic comparison
    • Exhibit 72: Chart on Geographic comparison
    • Exhibit 73: Data Table on Geographic comparison
  • 9.6 Market opportunity by geography
    • Exhibit 74: Market opportunity by geography ($ billion)
    • Exhibit 75: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges
    • Exhibit 76: Impact of drivers and challenges in 2023 and 2028
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape
    • Exhibit 77: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption
    • Exhibit 78: Overview on factors of disruption
  • 11.4 Industry risks
    • Exhibit 79: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered
    • Exhibit 80: Vendors covered
  • 12.2 Market positioning of vendors
    • Exhibit 81: Matrix on vendor position and classification
  • 13 Appendix
  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist
    • Exhibit 82: Inclusions checklist
    • Exhibit 83: Exclusions checklist
  • 13.3 Currency conversion rates for US$
    • Exhibit 84: Currency conversion rates for US$
  • 13.4 Research methodology
    • Exhibit 85: Research methodology
    • Exhibit 86: Validation techniques employed for market sizing
    • Exhibit 87: Information sources
  • 13.5 List of abbreviations
    • Exhibit 88: List of abbreviations