Key Market Drivers Existing in Global Battery Market by Transport:
The accelerated urbanization in developing countries and advanced economies is deemed one of the prime drivers of infrastructure spending over the estimated period, which is anticipated to sustain the demand for the transportation battery industry. Incorporating developments in urban rail infrastructure also encourages the global demand for energy storage systems and consequently is expected to propel the demand for transportation batteries worldwide. The transportation Battery Market has been growing faster with substantial growth rates over the last few years, and it is estimated that the market will grow significantly at a CAGR of 9.2% in the forecasted period, i.e. 2021 to 2027.
Lithium-Ion Batteries Observes the Fastest Growth:
Our Global Battery Market by Transport report provides a holistic evaluation of the market. Based on the battery type, the automotive battery market is broadly categorized into four different market segments: lithium-ion-based, lead-acid-based, Nickel-based, and Sodium-ion. As per the analysis, the market for lithium-ion batteries is anticipated to observe the fastest growth during the forecast period. A lithium-ion battery is equipped for applications, which demand high-energy density solutions such as hybrid and electric automobiles. The automotive lithium-ion battery has emerged as an eco-friendly, rechargeable power source compared to conventional batteries such as lead-acid and nickel-metal hydride batteries.
COVID-19 Impact on Global Battery Market:
The automotive industry, which is the primary end-user of the batteries for various purposes, has been severely affected due to the nationwide lockdowns - further limiting the growth prospects for the transportation battery market. Besides, the cost of transportation batteries used in the automotive has also expanded due to the impact of COVID-19, which has emerged in logistical difficulties and an increase in the production cost as a result of the outbreak. Global Battery Market by Transport was valued at US$ 86.24 Billion in 2021.
The World Will Be Dominated by Automotive:
Around the world, transportation batteries provide high energy density and a longer lifecycle for vehicle types such as Automotive batteries, E-bikes, Marine and Forklift. In numerous vehicle types, transportation batteries are majorly utilized because of discharge hours and extended lifecycle, which enhance the use of these batteries for next-generation vehicles. Further, batteries and carmakers are spending billions of dollars on reducing the costs of manufacturing and recycling batteries. the analysis anticipates that automotive will dominate the world in the coming years with the growing middle class and a young population.
Regional Outlook: China as a global hub of Automobile Battery Industry
In the report, the Global Transportation battery market is expected to witness moderate but steady growth in the coming years. The Asia Pacific is the largest automotive battery market, followed by Europe, the Americas and the Middle East and Africa. The growth rate is highest in the Asia Pacific and is expected to be even higher during the forecasted period. Such a high growth rate is attributed to the emergence of China as a global hub for the automobile industry and increasing demands for vehicles from some of the other Asian countries such as India, Indonesia, Malaysia, Thailand and the Philippines. The expanding market in these countries is attributed to the growing infrastructure and rising disposable income of the middle class.
This latest report “Battery Market by Transport, Global Forecast By Battery Type (Lithium-ion Based, Lead-acid Based, Nickel-Based, Sodium-ion and Others), Vehicle Type (Automotive Battery, E-bikes, Marine and Forklift), Region (Americas, Asia-Pacific, Europe and Middle East and Africa), Company (BYD Company Ltd., Samsung SDI Company Limited, GS Yuasa Corporation, Johnsons Controls Inc. and Exide Technologies)” provides a detailed analysis of Battery Market by Transport Industry.
Battery Type - Battery Market by Transport has been covered from 5 viewpoints:
1. Lithium-ion Based
2. Lead-acid Based
3. Nickel-Based
4. Sodium-ion
5. Others
Vehicle Type - Battery Market by Transporthas been covered from 4 viewpoints:
1. Automotive Battery
2. E-bikes
3. Marine
4. Forklift
Region - Battery Market by Transport has been covered from 4 viewpoints:
1. Americas
2. Asia-Pacific
3. Europe
4. Middle East and Africa
Company Insights:
- Overview
- Recent Development & Strategies
- Financial Insights
Companies Covered:
1. BYD Company Ltd.
2. Samsung SDI Company Limited
3. GS Yuasa Corporation
4. Johnsons Controls Inc.
5. Exide Technologies
Table of Contents
Companies Mentioned
- BYD Company Ltd.
- Samsung SDI Company Limited
- GS Yuasa Corporation
- Johnsons Controls Inc.
- Exide Technologies
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 105 |
| Published | January 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 86.24 Billion |
| Forecasted Market Value ( USD | $ 146.23 Billion |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
