Light Vehicle Batteries Market by Application and Geography - Global Forecast 2022-2028
Global Light Vehicle Batteries Market: About this market
Light vehicle batteries are rechargeable batteries which are used for starting lighting and ignition (SLl) applications in light internal combustion engine vehicles (ICEVs) and for power propulsion in light electric vehicles (EVs). light vehicle batteries market analysis considers sales from both internal combustion engine vehicle (ICEV), and electric vehicle (EV). Our analysis also considers the sales of light vehicle batteries in APAC, MEA, and The Americas. In 2018, the internal combustion engine vehicle (ICEV) segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increase in the global production of passenger cars and light commercial vehicles will play a significant role in the internal combustion engine vehicle (ICEV) segment to maintain its market position. Also, our global light vehicle batteries report also looks at factors such as Stringent regulations on CHG emissions from automobiles, rising urbanization, declining Li-ion battery prices. However, widening disparity between lithium demand and supply, stringent laws against lead pollution, lack of EV charging infrastructure may hamper the growth of the light vehicle batteries industry over the forecast period.
Global Light Vehicle Batteries Market: Overview
Declining Li-ion battery prices
Li-ion batteries are the most widely used batteries for light vehicles across the world as it is a light metal that has better electrochemical properties than other battery technologies. The declining cost of Li-ion batteries can be attributed to the increasing adoption in the automotive industry and the development of cost-effective production methods by vendors. The declining cost of Li-ion batteries will fuel the light vehicle batteries market to grow at a CAGR of over 10% during the forecast period.
Advances in battery technologies
The global batteries market has been witnessing a significant increase in R&D activities by manufacturers to develop new battery technologies. For instance, the UltraBattery is a hybrid device with a chemical combination of both lead-acid battery and an ultracapacitor. This battery has been witnessing many design improvements over conventional lead-acid technology. The unique chemistry of the battery increases power handling as well as vastly reduces sulfation, which allows it to run continuously without charging fully. These advances in battery technologies will drive the global light vehicle batteries market during the forecast period.
For the detailed list of factors that will drive the global light vehicle batteries market during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of several major players, the global light vehicle batteries market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading light vehicle batteries manufacturers, that include A123 Systems LLC, Clarios, East Penn Manufacturing Co. Inc., GS Yuasa Corp., LG Chem Ltd., and Samsung SDI Co. Ltd.
Also, the light vehicle batteries market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Light vehicle batteries are rechargeable batteries which are used for starting lighting and ignition (SLl) applications in light internal combustion engine vehicles (ICEVs) and for power propulsion in light electric vehicles (EVs). light vehicle batteries market analysis considers sales from both internal combustion engine vehicle (ICEV), and electric vehicle (EV). Our analysis also considers the sales of light vehicle batteries in APAC, MEA, and The Americas. In 2018, the internal combustion engine vehicle (ICEV) segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increase in the global production of passenger cars and light commercial vehicles will play a significant role in the internal combustion engine vehicle (ICEV) segment to maintain its market position. Also, our global light vehicle batteries report also looks at factors such as Stringent regulations on CHG emissions from automobiles, rising urbanization, declining Li-ion battery prices. However, widening disparity between lithium demand and supply, stringent laws against lead pollution, lack of EV charging infrastructure may hamper the growth of the light vehicle batteries industry over the forecast period.
Global Light Vehicle Batteries Market: Overview
Declining Li-ion battery prices
Li-ion batteries are the most widely used batteries for light vehicles across the world as it is a light metal that has better electrochemical properties than other battery technologies. The declining cost of Li-ion batteries can be attributed to the increasing adoption in the automotive industry and the development of cost-effective production methods by vendors. The declining cost of Li-ion batteries will fuel the light vehicle batteries market to grow at a CAGR of over 10% during the forecast period.
Advances in battery technologies
The global batteries market has been witnessing a significant increase in R&D activities by manufacturers to develop new battery technologies. For instance, the UltraBattery is a hybrid device with a chemical combination of both lead-acid battery and an ultracapacitor. This battery has been witnessing many design improvements over conventional lead-acid technology. The unique chemistry of the battery increases power handling as well as vastly reduces sulfation, which allows it to run continuously without charging fully. These advances in battery technologies will drive the global light vehicle batteries market during the forecast period.
For the detailed list of factors that will drive the global light vehicle batteries market during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of several major players, the global light vehicle batteries market is fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading light vehicle batteries manufacturers, that include A123 Systems LLC, Clarios, East Penn Manufacturing Co. Inc., GS Yuasa Corp., LG Chem Ltd., and Samsung SDI Co. Ltd.
Also, the light vehicle batteries market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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