Global Transportation Battery Market size is estimated to reach US$ 172.51 Billion by 2028, according to the report. The demand for batteries in the world is rising, mostly driven by the need to cut down on carbon emissions through the electrification of vehicles and the energy shift. Transportation batteries depend totally on the chemical energy saved in rechargeable battery packs and do not require a secondary supply of propulsion (hydrogen gas cell, inner combustion engine, and others). The improvement and commercialization of energy storage technology could tremendously impact the power system due to rapid progress and enlargement from small to large scale.Transportation Battery Market was valued at US$ 111.35 Billion in 2023
Rapid urbanization in both rising and advanced economies is predicted to be among the major drivers of infrastructure investment over the forecast time frame, increasing demand for batteries for the transportation market. Incorporating these trends in urban rail infrastructure is growing worldwide demand for energy storage systems and, as an outcome, is pressure to worldwide demand for transportation batteries. In addition, underdeveloped EV support infrastructure and battery safety problems are predicted to preclude growth throughout the forecast period. Moreover, high initial costs, restrained range, and hastily changing oil expenses are capability restraints on the global Transportation Battery Market standard growth.
Transportation battery market is predicted to grow with a CAGR of 9.15% in the projected time frame (2023-2028)
A transportation battery is a rechargeable battery used in electric vehicles such as hybrid vehicles, plug-in hybrids, electric bicycles, scooters, and many others. Transportation batteries are available in different styles and sizes to meet the desires of various transportation modes. These batteries are made from positive and negative electrodes with an electrolyte solution between them that permits the flow of ions. When an electrical current is carried out, the battery converts chemical electricity into electrical energy. The increase in this market may be attributed to the increasing demand for electric automobiles and stringent government guidelines concerning emissions from conventional vehicles.The growing integration of electronics, as well as the rising demand for transportation, is the driving factor for the transportation battery market. Furthermore, fuel savings and government incentives for cleaner transportation are important factors that can boost the growth of the transportation battery market. Moreover, introducing and innovating new hybrid and electric automotive models from OEMs is expected to capture the transportation battery market, which can serve as a stepping stone for market growth. Growing demand for hybrids and EVs and R&D in combination with EV batteries are some opportunities worldwide. Global Transportation Battery Market was valued at US$ 111.35 Billion in 2023.
Lithium-ion batteries are poised to dominate the transport battery market with the largest market percentage
By Battery Type, the Transportation battery market is segmented into Lithium Ion Battery, Lead Acid Battery and Other Battery Types. The automobile industry has witnessed a surge in the adoption of electric automobiles (EVs) pushed by the aid of government projects to section out fuel-based motors. The ambitious ""zero carbon"" targets set by governing bodies globally have similarly accelerated the demand for Electric Vehicles, subsequently enlarging the demand for transportation lithium-ion batteries as a key element in electric-powered vehicles energy systems.As the arena shifts closer to greener mobility solutions, the need for lithium-ion batteries continues to surge. Major automakers are investing closely in EV production, further fueling this trend. Additionally, improvements in lithium-ion technology are constantly enhancing their performance and affordability. This, coupled with the developing infrastructure for EV charging, solidifies the lithium-ion battery's role as the main demand in the transportation battery market, using a sustainable future.
With the shift to electric-powered automobiles gaining momentum, there has been an explosive surge in battery demand, mainly in global automobile markets
By Vehicle Type, the Transportation battery market is divided into Passenger Cars, Light and Heavy Commercial Vehicles, and electric vehicles. Electric cars (EVs) are undeniably the fastest-developing sector in the transport battery market. With a worldwide emphasis on lowering emissions and combating climate change, EV adoption is surging. Improved battery technology has extended driving ranges and shortened charging times, addressing key consumer issues.Consequently, numerous companies are venturing into developing their battery giga factories or establishing joint ventures to tackle increasing limited supplies. Projections suggested that demand is set to enhance by about 30%, drawing close to a staggering 4,500 gigawatt-hours (GWh) annually worldwide by 2030. Furthermore, global governments are presenting incentives and investing in charging infrastructure to boost EV adoption. Major automakers are also heavily investing in the EV production, introducing various models to cater to numerous purchasers' wishes.
China has cemented itself as the biggest and most influential market within the transport battery industry
By Countries, Transportation battery market is broken up into North America (United States, Canada), Europe (Poland, Germany, Spain, France, United Kingdom, Italy, Netherlands, Turkey and Others in Europe), Asia Pacific (China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia, Others in Asia-Pacific), Middle East & Africa (Saudi Arabia, UAE, South Africa, Others in Middle East and Africa) and Latin America (Brazil, Argentina, Chile, Mexico, Others in Latin America).China firmly holds the most important market in the transport battery industry. This monetary giant has been at the vanguard of electrifying its transportation region, spurred by environmental issues and a dedication to lowering emissions. The government's generous incentives and sturdy rules have elevated electric-powered automobile (EV) adoption, creating a surge for batteries. Chinese EV producers like BYD and NIO and worldwide players like Tesla have set up full-scale production operations in China to meet this hovering demand. With a population of over one thousand million and an ever-developing EV infrastructure, China's dominance within the transport battery market is set to continue, shaping the future of sustainable mobility on a massive scale.
Key Player
BYD Company Ltd, Samsung SDI Company Limited, GS Yuasa Corporation, Johnsons Controls Inc and Exide Technologies are outstanding global transportation battery market companies.The “Battery Market by Transport, Global Forecast By Battery Type (Lithium Ion Battery, Lead Acid Battery, Other Battery Types), Vehicle Type (Passenger Cars, Light and Heavy Commercial Vehicles, Electric Vehicles, Others), Region (North America (United States, Canada), Europe (Poland, Germany, Spain, France, United Kingdom, Italy, Netherlands, Turkey and Others in Europe), Asia Pacific (China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia, Others in Asia-Pacific), Middle East & Africa (Saudi Arabia, UAE, South Africa, Others in Middle East and Africa) and Latin America (Brazil, Argentina, Chile, Mexico, Others in Latin America)), 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 3 viewpoints:
1. Lithium Ion Battery2. Lead Acid Battery
3. Other Battery Types
Vehicle Type - Battery Market by Transporthas been covered from 4 viewpoints:
1. Passenger Cars2. Light and Heavy Commercial Vehicles
3. Electric Vehicles
4. Others
Region - Battery Market by Transport has been covered from 5 viewpoints:
1. North America
1. United States2. Canada
2. Asia-Pacific
1. China2. Japan
3. South Korea
4. India
5. Australia
6. Indonesia
7. Thailand
8. Malaysia
9. Others in Asia-Pacific
3. Europe
1. Poland2. Germany
3. Spain
4. France
5. United Kingdom
6. Italy
7. Netherlands
8. Turkey
9. Others in Europe
4. Middle East and Africa
1. Saudi Arabia2. UAE
3. South Africa
4. Others in Middle East and Africa
5. South America
1. Brazil2. Argentina
3. Chile
4. Mexico
5. Others in Latin America
Company Insights:
- Overview
- Recent Development
- Financial Insights
Companies Covered:
1. BYD Company Ltd2. Samsung SDI Company Limited
3. GS Yuasa Corporation
4. Johnsons Controls Inc
5. Exide Technologies
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Transportation Battery Market
4. Market Dynamics
6. Share Analysis - Global Transportation Battery Market
7. Battery Type - Global Transportation Battery Market
8. Vehicle Type - Global Transportation Battery Market
9. Countries - Global Transportation Battery Market
10. Porters Five Forces
11. SWOT Analysis
12. Company Analysis
List of Figures
List of Tables
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 | 180 |
| Published | October 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 111.35 Billion |
| Forecasted Market Value ( USD | $ 172.51 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
