Passenger Car Battery Market – Global Industry Size, Share, Trends Opportunity, and Forecast 2019-2029. Segmented By Vehicle Type (SUV, MUV, Sedan, Hatchback, Others), By Battery Type (Lead Acid, Lithium-Ion, and Other), By Drive Type (IC Engines and Electric Vehicles), By Region and By Competition. 2019-2029F

  • Industry : Automotive
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  • Published Date : NA
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Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 13.28 billion

CAGR (2024-2029)

6.73%

Fastest Growing Segment

Lithium-ion

Largest Market

Asia-Pacific

Market Size (2029)

USD 19.55 billion


Market Overview

The Global Passenger Car Battery Market size reached USD 13.28 billion in 2023 and is expected reach USD 19.55 billion by 2029 growing with a CAGR of 6.73% in the forecast period. The global Passenger Car Battery Market is a critical component of the automotive industry, serving as the power source for electric and hybrid vehicles. These batteries have gained significant prominence due to the growing shift towards cleaner and more sustainable transportation solutions. The market's dynamics are shaped by various factors, including technological advancements, environmental concerns, government incentives, and consumer preferences.

One of the primary drivers of the global Passenger Car Battery Market is the increasing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs). Governments around the world are implementing stringent emissions regulations, and consumers are becoming more environmentally conscious, driving demand for electric and hybrid cars. As a result, there is a rising need for advanced and efficient battery technologies to power these vehicles. Lithium-ion batteries have become the industry standard due to their high energy density and relatively low environmental impact.

Technological advancements are another key driver. Battery manufacturers are continually improving battery chemistries, increasing energy density, and enhancing charging infrastructure. These advancements are aimed at addressing two major concerns associated with EVs: range anxiety and charging time. As battery technology evolves, the range of electric vehicles is expanding, and charging times are decreasing, making EVs more practical for everyday use.

Environmental concerns and sustainability play a vital role in shaping the Passenger Car Battery Market. As governments and consumers demand greener transportation options, automakers are investing heavily in electrification. This not only reduces emissions but also contributes to lower operating costs for consumers due to the lower cost of electricity compared to gasoline. Moreover, manufacturers are exploring recycling and second-life Vehicle Types for batteries, further minimizing their environmental impact.

Government incentives and regulations also significantly impact the market. Many countries offer tax incentives, rebates, and subsidies to promote the adoption of electric vehicles. Additionally, some governments are setting targets to phase out internal combustion engine vehicles in favor of electric ones, which will undoubtedly stimulate the demand for passenger car batteries. Consumer preferences are evolving, with an increasing number of individuals considering electric and hybrid vehicles as viable options. The market is witnessing a shift in consumer attitudes as they become more familiar with the benefits of electric vehicles, including lower operating costs, reduced maintenance requirements, and a smoother driving experience. As charging infrastructure continues to improve, consumer confidence in electric vehicles is likely to grow, further boosting the demand for passenger car batteries.

The global Passenger Car Battery Market is experiencing robust growth driven by the global transition towards cleaner and more sustainable transportation solutions. Technological advancements, environmental concerns, government incentives, and changing consumer preferences are all contributing to the rapid expansion of this market. As battery technology continues to evolve and charging infrastructure becomes more widespread, electric and hybrid vehicles are poised to become increasingly prominent on the world's roads.

Key Market Drivers

Rising Demand for Electric Vehicles (EVs) and Hybrids

The surging interest in EVs and hybrid vehicles is a primary driver. Consumers are increasingly drawn to these eco-friendly alternatives due to concerns about air quality, climate change, and fuel costs. As a result, the demand for passenger car batteries, especially lithium-ion batteries, is escalating to power these vehicles.

Stringent Emissions Regulations

Governments worldwide are implementing strict emissions standards to combat air pollution and reduce greenhouse gas emissions. To meet these regulations, automakers are transitioning from internal combustion engine (ICE) vehicles to electric and hybrid models. This transition necessitates advanced battery technology, driving the growth of the Passenger Car Battery Market.

Advancements in Battery Technology

Ongoing innovations in battery technology are a significant driver. Battery manufacturers are constantly improving energy density, charging speed, and durability. These advancements are crucial for addressing range anxiety, making electric vehicles more appealing to consumers, and further propelling the market. For instance, in June 2024, PowerCo SE, a top battery manufacturer, has announced a strategic partnership with the International Research School for Battery Chemistry, Characterisation, Analysis, Recycling and Application (BACCARA) at the University of Münster. This collaboration is designed to bolster battery research and education, which are vital for maintaining the competitiveness of Germany’s automotive industry. Over the next three years, PowerCo SE will fund BACCARA’s research program and doctoral positions. The partnership will also provide students with hands-on experience through expert lectures and on-site projects. Founded in Salzgitter in 2022, PowerCo is dedicated to innovation and scientific progress.

Environmental Sustainability

Environmental consciousness among consumers and corporations is prompting the adoption of cleaner transportation options. Electric vehicles produce zero tailpipe emissions, making them an attractive choice for those seeking more eco-friendly alternatives. This demand aligns with global sustainability goals and encourages the growth of passenger car battery technology.

Government Incentives and Subsidies

Many governments are providing incentives and subsidies to encourage the adoption of electric and hybrid vehicles. These incentives include tax breaks, rebates, and access to carpool lanes. Such policies reduce the overall cost of electric vehicles and boost consumer interest, thereby driving the demand for passenger car batteries.

Lower Operating Costs

Electric vehicles are renowned for their lower operating costs compared to traditional ICE vehicles. Electricity is generally cheaper than gasoline, and electric cars require less maintenance due to fewer moving parts. This cost-effectiveness appeals to consumers and commercial fleets, increasing the market's growth potential.

Expanding Charging Infrastructure

The growth of charging infrastructure, including public charging stations and fast-charging networks, addresses one of the main barriers to EV adoption: charging convenience. As charging becomes more accessible and quicker, it boosts consumer confidence in electric vehicles, further stimulating the demand for passenger car batteries.

Consumer Awareness and Acceptance

A growing understanding of the benefits of electric vehicles, including reduced fuel costs, environmental impact, and smoother driving experiences, is driving consumer acceptance. As consumers become more familiar with electric vehicle technology and its advantages, their willingness to consider EVs for their next vehicle purchase continues to grow, contributing to the market's expansion.

The global Passenger Car Battery Market is being driven by a confluence of factors, including consumer preferences for clean and cost-effective transportation, government regulations and incentives, technological advancements, and a rapidly expanding charging infrastructure. These drivers collectively contribute to the market's sustained growth as electric and hybrid vehicles become an increasingly integral part of the automotive landscape.

         

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Key Market Challenges

Limited Range and Charging Infrastructure

Range anxiety remains a significant hurdle. Despite advancements in battery technology, electric vehicles often have limited driving ranges compared to traditional gasoline vehicles. Additionally, while charging infrastructure is expanding, it is still not as widespread as refueling stations, leading to concerns about charging accessibility on long journeys.

High Initial Costs

The upfront cost of electric vehicles, which includes the price of the battery, tends to be higher than that of conventional vehicles. While operating costs are lower, the initial purchase price can deter some potential buyers. Government incentives and subsidies partially mitigate this challenge, but it remains a barrier in some markets.

Battery Degradation and Lifespan

Batteries degrade over time, which can affect an electric vehicle's range and overall performance. Ensuring the longevity and reliability of passenger car batteries is a challenge for manufacturers. Consumers also worry about the cost of battery replacement when their vehicle's battery reaches the end of its useful life.

Charging Time

While charging infrastructure is improving, the time it takes to charge an electric vehicle is still significantly longer than refueling a gasoline vehicle. Fast-charging stations are helping address this challenge, but the issue of charging time remains a consideration, particularly for those who do not have home charging capabilities.

Supply Chain and Raw Materials

The production of lithium-ion batteries relies on the supply of key raw materials, such as lithium, cobalt, and nickel. These materials can be subject to supply chain disruptions, price fluctuations, and concerns about their environmental and ethical sourcing, posing challenges to battery manufacturers.

Recycling and Disposal

As electric vehicle adoption grows, there is a growing concern about the recycling and disposal of used batteries. Proper recycling processes are essential to minimize environmental impact and recover valuable materials. Developing efficient recycling methods and ensuring proper disposal practices are ongoing challenges.

Regulatory Uncertainty

The regulatory landscape for electric vehicles is evolving rapidly, with varying emissions standards and incentives across different regions and countries. This uncertainty can pose challenges for automakers and battery manufacturers in planning and compliance efforts.

Consumer Education

Educating consumers about electric vehicles and their benefits remains crucial. Many consumers still have misconceptions about electric vehicles, including concerns about range, charging, and overall cost of ownership. Effective communication and education are necessary to address these misconceptions and encourage EV adoption. While the global Passenger Car Battery Market is experiencing substantial growth, it also faces challenges related to range anxiety, high initial costs, battery degradation, charging infrastructure, supply chain issues, recycling, regulatory complexity, and the need for consumer education. Overcoming these challenges will require continued investment in research and development, infrastructure expansion, and collaborative efforts between governments, automakers, and battery manufacturers to make electric and hybrid vehicles more accessible and appealing to a broader range of consumers.

Key Market Trends

Advancements in Battery Technology

Battery technology is continuously evolving, with a strong focus on increasing energy density, extending battery life, and reducing costs. Innovations such as solid-state batteries and silicon anodes are gaining prominence, promising higher energy storage capacity and faster charging times. These advancements are crucial for improving the overall performance and affordability of electric vehicles. For instance, in march 2024, Battery development software company About:Energy has announced a partnership with hypercar manufacturer McMurtry Automotive to advance battery technology for their record-setting McMurtry Spéirling and Spéirling Pure customer vehicles. This strategic collaboration combines expertise in EV innovation, battery testing, and modeling to enhance battery lifespan and performance by utilizing the latest high-performance Molicel P50B. Featuring a 5.0Ah 21700 form factor lithium-ion cell, this battery achieves the highest power-to-energy ratio and an unprecedented energy density of 260Wh/kg (714Wh/l), surpassing previous benchmarks.

Transition to Solid-State Batteries

Solid-state batteries are a game-changing trend in the industry. They offer higher energy density, improved safety, and faster charging compared to traditional lithium-ion batteries. As research and development efforts progress, solid-state batteries are expected to become a standard in the market, enabling longer driving ranges and quicker charging. For instance, in July 2024, UK-based TaiSan, a company focused on developing quasi-solid state sodium batteries for electric vehicles, has secured USD 1.4 million in pre-seed funding. The investment, spearheaded by EIT InnoEnergy and TSP Ventures, with contributions from Heartfelt VC and Exergon, is intended to speed up the advancement of TaiSan’s battery technology. Sodium-ion batteries are emerging as a promising alternative to lithium-ion batteries in the automotive sector, offering advantages in cost, sustainability, and safety. The global market for these batteries is anticipated to expand significantly in the near future.

Increasing Range of Electric Vehicles

Electric vehicle manufacturers are focused on extending the driving range of their vehicles to address range anxiety concerns. New models are being equipped with larger battery packs, allowing EVs to travel further on a single charge. Enhanced range is seen as a crucial factor in boosting consumer confidence in electric vehicles.

Diversification of Battery Suppliers

The demand for passenger car batteries is leading to a diversification of battery suppliers. Established manufacturers are being joined by newcomers and tech giants entering the market. This diversification is fostering competition, driving innovation, and potentially lowering battery prices.

Rapid Expansion of Charging Infrastructure

The growth of electric vehicles is driving investments in charging infrastructure. Fast-charging networks are expanding, making it more convenient for EV owners to charge their vehicles quickly. Governments and private companies are collaborating to develop comprehensive charging solutions, further promoting EV adoption.

Second-Life Batteries

The concept of second-life batteries is gaining traction. After batteries reach the end of their useful life in vehicles, they can still have significant energy storage capacity remaining. These batteries are repurposed for other Vehicle Types, such as stationary energy storage systems for homes and businesses, reducing waste and extending their usefulness.

Global Electrification Initiatives

Many countries and regions are introducing ambitious electrification initiatives and setting targets to phase out internal combustion engine vehicles in favor of electric ones. These initiatives are driving automakers to invest heavily in electric vehicle development and the Passenger Car Battery Market.

Integration of Renewable Energy

Electric vehicles are increasingly being integrated into broader renewable energy ecosystems. Consumers are using their EVs as mobile energy storage units, allowing them to store excess energy from renewable sources and use it during peak demand or emergencies. This trend contributes to greater energy efficiency and grid stability.

The global Passenger Car Battery Market is witnessing a transformation driven by advancements in battery technology, the shift towards solid-state batteries, extended electric vehicle ranges, a diverse array of battery suppliers, the expansion of charging infrastructure, second-life battery Vehicle Types, electrification initiatives, and the integration of renewable energy sources. These trends collectively indicate a promising future for electric and hybrid vehicles, with a focus on enhanced performance, sustainability, and accessibility.

Segmental Insights

Battery Type Insights

The Passenger Car Battery Market can be segmented based on battery type, with the primary distinction being between traditional lead-acid batteries and advanced lithium-ion batteries. Lead-acid batteries, although less expensive, are gradually losing market share to lithium-ion batteries due to their lower energy density and shorter lifespan. Lithium-ion batteries are favored for their superior energy storage, longer life, and faster charging capabilities. The trend is shifting towards lithium-ion batteries as automakers seek to improve the performance and range of electric vehicles. This segment categorizes passenger cars into different types, including conventional internal combustion engine (ICE) vehicles, hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). Conventional ICE vehicles still dominate the market, but there is a growing trend towards electrification. HEVs, PHEVs, and BEVs are gaining popularity as automakers strive to reduce emissions and meet regulatory standards. Battery manufacturers are tailoring their products to meet the specific requirements of these different vehicle types.

Battery capacity is a crucial segment in the Passenger Car Battery Market. It refers to the size and energy storage capacity of the battery pack in kilowatt-hours (kWh). Different vehicle models offer varying battery capacities to cater to different consumer needs. Smaller battery capacities are suitable for short commutes and urban driving, while larger capacities are necessary for long-range electric vehicles. Automakers are continually introducing models with different battery capacity options to address diverse market preferences. The global Passenger Car Battery Market exhibits regional variations in demand and adoption rates. Developed regions like North America and Europe have established electric vehicle markets, driven by stringent emissions regulations and consumer awareness. In contrast, emerging markets in Asia-Pacific, particularly China, are experiencing rapid growth due to government incentives, urbanization, and the rise of electric vehicle manufacturers. Understanding regional dynamics is essential for battery manufacturers to tailor their strategies to specific market conditions.

These segmental insights offer a comprehensive view of the global Passenger Car Battery Market, highlighting how factors such as battery type, vehicle type, battery capacity, sales channels, and regional variations collectively influence market dynamics. Adapting to these diverse segments is crucial for battery manufacturers to stay competitive and meet the evolving needs of automakers and consumers in the rapidly changing automotive industry.

          

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Regional Insights

North America has been a significant player in the global Passenger Car Battery Market. The United States and Canada have witnessed steady growth in the adoption of electric and hybrid vehicles. Factors such as stringent emissions regulations, government incentives, and increasing consumer awareness of environmental issues have driven this growth. Additionally, the presence of established automakers and technology companies investing in electric vehicle development has boosted the demand for advanced battery technologies. The region is also a leader in electric vehicle charging infrastructure development, further promoting electric vehicle adoption. Europe is a prominent region in the global Passenger Car Battery Market, with countries like Germany, France, the United Kingdom, and Norway leading the way in electric vehicle adoption. The European Union's strict emissions standards, along with incentives such as tax breaks and subsidies, have incentivized consumers to choose electric vehicles. European automakers have made substantial investments in electrification, with a focus on lithium-ion batteries and cutting-edge battery technology. Moreover, European nations are actively working to expand their charging infrastructure, making electric vehicles more practical for consumers.

The Asia-Pacific region, particularly China, is a powerhouse in the global Passenger Car Battery Market. China, the world's largest electric vehicle market, has experienced explosive growth due to government incentives, a large urban population, and the presence of numerous domestic electric vehicle manufacturers. Battery manufacturers in China are at the forefront of lithium-ion battery production, contributing significantly to the global supply chain. Additionally, Japan and South Korea have been leaders in battery technology innovation, with companies like Panasonic and LG Chem playing pivotal roles in global battery production.

The Middle East and Africa are emerging markets in the Passenger Car Battery segment. While electric vehicle adoption in these regions is comparatively lower than in other parts of the world, there is a growing interest in electric mobility, driven by concerns about air quality and climate change. Some countries in the Middle East, such as the United Arab Emirates, are investing in electric vehicle infrastructure and incentives to encourage adoption. In Africa, urbanization and a rising middle class are factors contributing to the growing demand for electric vehicles. Latin America is gradually entering the electric vehicle landscape. Countries like Brazil, Mexico, and Chile are witnessing increasing electric vehicle adoption, spurred by government policies and incentives. Although the market is relatively small compared to other regions, there is potential for growth as consumers become more aware of the benefits of electric vehicles, including reduced operating costs and lower environmental impact. In conclusion, regional insights highlight the diverse factors influencing the global Passenger Car Battery Market, from stringent regulations and incentives to consumer awareness and the presence of key industry players. Each region contributes uniquely to the market's growth and development, making it essential for battery manufacturers and automakers to tailor their strategies to address regional dynamics and preferences.

Recent Developments

  • In July 2024, Volkswagen’s battery subsidiary PowerCo and solid-state battery pioneer QuantumScape entered into a significant agreement to advance QuantumScape’s next-generation lithium-metal battery technology towards mass production. The agreement allows PowerCo a non-exclusive license to produce up to 40 gigawatt-hours (GWh) of battery cells annually using QuantumScape’s technology, with the potential to double this capacity.
  • In April 2024, Hyundai Motor Company and Kia Corporation signed a Memorandum of Understanding (MOU) with Exide Energy Solutions Ltd., a major Indian battery manufacturer, to enhance their strategic collaboration in expanding electric vehicles (EVs). The MOU was officially signed during a ceremony at Hyundai Motor Group's Namyang Research and Development Center in South Korea. The event was attended by key figures including Heui Won Yang, President and Head of Hyundai Motor and Kia’s R&D Division; Chang Hwan Kim, Head of Electrification Energy Solutions Tech Unit; Duk Gyo Jeong, Head of Electric Vehicle Parts Purchasing Sub-Division; and Mandar V Deo, Managing Director and CEO of Exide Energy.
  • In July 2024, Volkswagen’s battery subsidiary PowerCo and solid-state battery innovator QuantumScape have signed a groundbreaking agreement to advance QuantumScape’s next-generation lithium-metal battery technology to mass production. Under the deal, PowerCo is granted a non-exclusive license to produce up to 40 gigawatt-hours (GWh) of battery cells annually using QuantumScape’s technology, with the possibility to double this capacity. 
  • In June 2023, Toyota Motor Corporation hosted a technical briefing titled "Toyota Technical Workshop," focusing on the theme "Let's Change the Future of Cars." During the event, they introduced a range of new technologies aimed at advancing their transition into a mobility company. As of March 2023, the company has reallocated over 50% of its R&D personnel and nearly half of its R&D budget to advanced development areas, while also increasing the overall investment. This trend is expected to continue and accelerate moving forward.

Key Market Players

  • Wanxiang A123 Systems Corp.
  • Panasonic Corporation
  • Exide Industries Ltd (Exide)
  • Clarios Germany GmbH & Co. KG
  • GS Yuasa Corporation
  • Hitachi Ltd.
  • Robert Bosch GmbH
  • China Aviation Lithium Battery Co. Ltd
  • Samsung SDI Co. Ltd.
  • Contemporary Amperex Technology Co. Limited

By Vehicle Type

By Battery Type  

By Drive Type

By Region
  • SUV
  • MUV
  • Sedan
  • Hatchback
  • Others
  • Lead Acid
  • Lithium-Ion
  • Other
  • IC Engines
  • Electric Vehicles
  • North America
  • Europe & CIS
  • Asia Pacific
  • South America
  • Middle East & Africa

Report Scope:

In this report, the Global Passenger Car Battery Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Passenger Car Battery Market, By Vehicle Type:

o   SUV

o   MUV

o   Sedan

o   Hatchback

o   Others

  • Passenger Car Battery Market, By Battery Type:

o   Lead Acid

o   Lithium-Ion

o   Other

  • Passenger Car Battery Market, By Drive Type:

o   IC Engines

o   Electric Vehicles

  • Passenger Car Battery Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  Turkey

§  Iran

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Passenger Car Battery Market.

Available Customizations:

Global Passenger Car Battery Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Passenger Car Battery Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

1.    Introduction

1.1.  Market Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Passenger Car Battery Market

5.    Global Passenger Car Battery Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Vehicle Type (SUV, MUV, Sedan, Hatchback, Others)

5.2.2.    By Battery Type (Lead Acid, Lithium-Ion, and Other)

5.2.3.    By Drive Type (IC Engines and Electric Vehicles)

5.2.4.    By Regional Market Share Analysis

5.2.4.1.        Asia-Pacific Market Share Analysis

5.2.4.2.        Europe & CIS Market Share Analysis

5.2.4.3.        North America Market Share Analysis

5.2.4.4.        South America Market Share Analysis

5.2.4.5.        Middle East & Africa Market Share Analysis

5.2.5.    By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2023)

5.3.  Global Passenger Car Battery Market Mapping & Opportunity Assessment

5.3.1.    By Vehicle Type Market Mapping & Opportunity Assessment

5.3.2.    By Battery Type Market Mapping & Opportunity Assessment

5.3.3.    By Drive Type Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Passenger Car Battery Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Vehicle Type Market Share Analysis

6.2.2.    By Battery Type Market Share Analysis

6.2.3.    By Drive Type Market Share Analysis

6.2.4.    By Country Market Share Analysis

6.2.4.1.        China Market Share Analysis

6.2.4.2.        India Market Share Analysis

6.2.4.3.        Japan Market Share Analysis

6.2.4.4.        Indonesia Market Share Analysis

6.2.4.5.        Thailand Market Share Analysis

6.2.4.6.        South Korea Market Share Analysis

6.2.4.7.        Australia Market Share Analysis

6.2.4.8.        Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.    China Passenger Car Battery Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.            By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.            By Vehicle Type Market Share Analysis

6.3.1.2.2.            By Battery Type Market Share Analysis

6.3.1.2.3.            By Drive Type Market Share Analysis

6.3.2.    India Passenger Car Battery Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.            By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.            By Vehicle Type Market Share Analysis

6.3.2.2.2.            By Battery Type Market Share Analysis

6.3.2.2.3.            By Drive Type Market Share Analysis

6.3.3.    Japan Passenger Car Battery Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.            By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.            By Vehicle Type Market Share Analysis

6.3.3.2.2.            By Battery Type Market Share Analysis

6.3.3.2.3.            By Drive Type Market Share Analysis

6.3.4.    Indonesia Passenger Car Battery Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.            By Value

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.            By Vehicle Type Market Share Analysis

6.3.4.2.2.            By Battery Type Market Share Analysis

6.3.4.2.3.            By Drive Type Market Share Analysis

6.3.5.    Thailand Passenger Car Battery Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.            By Value

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.            By Vehicle Type Market Share Analysis

6.3.5.2.2.            By Battery Type Market Share Analysis

6.3.5.2.3.            By Drive Type Market Share Analysis

6.3.6.    South Korea Passenger Car Battery Market Outlook

6.3.6.1.        Market Size & Forecast

6.3.6.1.1.            By Value

6.3.6.2.        Market Share & Forecast

6.3.6.2.1.            By Vehicle Type Market Share Analysis

6.3.6.2.2.            By Battery Type Market Share Analysis

6.3.6.2.3.            By Drive Type Market Share Analysis

6.3.7.    Australia Passenger Car Battery Market Outlook

6.3.7.1.        Market Size & Forecast

6.3.7.1.1.            By Value

6.3.7.2.        Market Share & Forecast

6.3.7.2.1.            By Vehicle Type Market Share Analysis

6.3.7.2.2.            By Battery Type Market Share Analysis

6.3.7.2.3.            By Drive Type Market Share Analysis

7.    Europe & CIS Passenger Car Battery Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Vehicle Type Market Share Analysis

7.2.2.    By Battery Type Market Share Analysis

7.2.3.    By Drive Type Market Share Analysis

7.2.4.    By Country Market Share Analysis

7.2.4.1.        Germany Market Share Analysis

7.2.4.2.        Spain Market Share Analysis

7.2.4.3.        France Market Share Analysis

7.2.4.4.        Russia Market Share Analysis

7.2.4.5.        Italy Market Share Analysis

7.2.4.6.        United Kingdom Market Share Analysis

7.2.4.7.        Belgium Market Share Analysis

7.2.4.8.        Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.    Germany Passenger Car Battery Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.            By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.            By Vehicle Type Market Share Analysis

7.3.1.2.2.            By Battery Type Market Share Analysis

7.3.1.2.3.            By Drive Type Market Share Analysis

7.3.2.    Spain Passenger Car Battery Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.            By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.            By Vehicle Type Market Share Analysis

7.3.2.2.2.            By Battery Type Market Share Analysis

7.3.2.2.3.            By Drive Type Market Share Analysis

7.3.3.    France Passenger Car Battery Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.            By Value

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.            By Vehicle Type Market Share Analysis

7.3.3.2.2.            By Battery Type Market Share Analysis

7.3.3.2.3.            By Drive Type Market Share Analysis

7.3.4.    Russia Passenger Car Battery Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.            By Value

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.            By Vehicle Type Market Share Analysis

7.3.4.2.2.            By Battery Type Market Share Analysis

7.3.4.2.3.            By Drive Type Market Share Analysis

7.3.5.    Italy Passenger Car Battery Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.            By Value

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.            By Vehicle Type Market Share Analysis

7.3.5.2.2.            By Battery Type Market Share Analysis

7.3.5.2.3.            By Drive Type Market Share Analysis

7.3.6.    United Kingdom Passenger Car Battery Market Outlook

7.3.6.1.        Market Size & Forecast

7.3.6.1.1.            By Value

7.3.6.2.        Market Share & Forecast

7.3.6.2.1.            By Vehicle Type Market Share Analysis

7.3.6.2.2.            By Battery Type Market Share Analysis

7.3.6.2.3.            By Drive Type Market Share Analysis

7.3.7.    Belgium Passenger Car Battery Market Outlook

7.3.7.1.        Market Size & Forecast

7.3.7.1.1.            By Value

7.3.7.2.        Market Share & Forecast

7.3.7.2.1.            By Vehicle Type Market Share Analysis

7.3.7.2.2.            By Battery Type Market Share Analysis

7.3.7.2.3.            By Drive Type Market Share Analysis

8.    North America Passenger Car Battery Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Vehicle Type Market Share Analysis

8.2.2.    By Battery Type Market Share Analysis

8.2.3.    By Drive Type Market Share Analysis

8.2.4.    By Country Market Share Analysis

8.2.4.1.        United States Market Share Analysis

8.2.4.2.        Mexico Market Share Analysis

8.2.4.3.        Canada Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.    United States Passenger Car Battery Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.            By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.            By Vehicle Type Market Share Analysis

8.3.1.2.2.            By Battery Type Market Share Analysis

8.3.1.2.3.            By Drive Type Market Share Analysis

8.3.2.    Mexico Passenger Car Battery Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.            By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.            By Vehicle Type Market Share Analysis

8.3.2.2.2.            By Battery Type Market Share Analysis

8.3.2.2.3.            By Drive Type Market Share Analysis

8.3.3.    Canada Passenger Car Battery Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.            By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.            By Vehicle Type Market Share Analysis

8.3.3.2.2.            By Battery Type Market Share Analysis

8.3.3.2.3.            By Drive Type Market Share Analysis

9.    South America Passenger Car Battery Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Vehicle Type Market Share Analysis

9.2.2.    By Battery Type Market Share Analysis

9.2.3.    By Drive Type Market Share Analysis

9.2.4.    By Country Market Share Analysis

9.2.4.1.        Brazil Market Share Analysis

9.2.4.2.        Argentina Market Share Analysis

9.2.4.3.        Colombia Market Share Analysis

9.2.4.4.        Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.    Brazil Passenger Car Battery Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.            By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.            By Vehicle Type Market Share Analysis

9.3.1.2.2.            By Battery Type Market Share Analysis

9.3.1.2.3.            By Drive Type Market Share Analysis

9.3.2.    Colombia Passenger Car Battery Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.            By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.            By Vehicle Type Market Share Analysis

9.3.2.2.2.            By Battery Type Market Share Analysis

9.3.2.2.3.            By Drive Type Market Share Analysis

9.3.3.    Argentina Passenger Car Battery Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.            By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.            By Vehicle Type Market Share Analysis

9.3.3.2.2.            By Battery Type Market Share Analysis

9.3.3.2.3.            By Drive Type Market Share Analysis

10.  Middle East & Africa Passenger Car Battery Market Outlook

10.1.           Market Size & Forecast

10.1.1. By Value

10.2.           Market Share & Forecast

10.2.1. By Vehicle Type Market Share Analysis

10.2.2. By Battery Type Market Share Analysis

10.2.3. By Drive Type Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1.     Turkey Market Share Analysis

10.2.4.2.     Iran Market Share Analysis

10.2.4.3.     Saudi Arabia Market Share Analysis

10.2.4.4.     UAE Market Share Analysis

10.2.4.5.     Rest of Middle East & Africa Market Share Analysis

10.3.           Middle East & Africa: Country Analysis

10.3.1. Turkey Passenger Car Battery Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Vehicle Type Market Share Analysis

10.3.1.2.2.         By Battery Type Market Share Analysis

10.3.1.2.3.         By Drive Type Market Share Analysis

10.3.2. Iran Passenger Car Battery Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Vehicle Type Market Share Analysis

10.3.2.2.2.         By Battery Type Market Share Analysis

10.3.2.2.3.         By Drive Type Market Share Analysis

10.3.3. Saudi Arabia Passenger Car Battery Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Vehicle Type Market Share Analysis

10.3.3.2.2.         By Battery Type Market Share Analysis

10.3.3.2.3.         By Drive Type Market Share Analysis

10.3.4. UAE Passenger Car Battery Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Vehicle Type Market Share Analysis

10.3.4.2.2.         By Battery Type Market Share Analysis

10.3.4.2.3.         By Drive Type Market Share Analysis

11.  SWOT Analysis

11.1.           Strength

11.2.           Weakness

11.3.           Opportunities

11.4.           Threats

12.  Market Dynamics

12.1.           Market Drivers

12.2.           Market Challenges

13.  Market Trends and Developments

14.  Competitive Landscape

14.1.           Company Profiles (Up to 10 Major Companies)

14.1.1. Wanxiang A123 Systems Corp. 

14.1.1.1.     Company Details

14.1.1.2.     Key Product Offered

14.1.1.3.     Financials (As Per Availability)

14.1.1.4.     Recent Developments

14.1.1.5.     Key Management Personnel

14.1.2. Panasonic Corporation.

14.1.2.1.     Company Details

14.1.2.2.     Key Product Offered

14.1.2.3.     Financials (As Per Availability)

14.1.2.4.     Recent Developments

14.1.2.5.     Key Management Personnel

14.1.3. Exide Industries Ltd (Exide) 

14.1.3.1.     Company Details

14.1.3.2.     Key Product Offered

14.1.3.3.     Financials (As Per Availability)

14.1.3.4.     Recent Developments

14.1.3.5.     Key Management Personnel

14.1.4. Samsung SDI Co. Ltd.

14.1.4.1.     Company Details

14.1.4.2.     Key Product Offered

14.1.4.3.     Financials (As Per Availability)

14.1.4.4.     Recent Developments

14.1.4.5.     Key Management Personnel

14.1.5. Clarios Germany GmbH & Co. KG

14.1.5.1.     Company Details

14.1.5.2.     Key Product Offered

14.1.5.3.     Financials (As Per Availability)

14.1.5.4.     Recent Developments

14.1.5.5.     Key Management Personnel

14.1.6. GS Yuasa Corporation

14.1.6.1.     Company Details

14.1.6.2.     Key Product Offered

14.1.6.3.     Financials (As Per Availability)

14.1.6.4.     Recent Developments

14.1.6.5.     Key Management Personnel

14.1.7. Hitachi Ltd.

14.1.7.1.     Company Details

14.1.7.2.     Key Product Offered

14.1.7.3.     Financials (As Per Availability)

14.1.7.4.     Recent Developments

14.1.7.5.     Key Management Personnel

14.1.8. Robert Bosch GmbH

14.1.8.1.     Company Details

14.1.8.2.     Key Product Offered

14.1.8.3.     Financials (As Per Availability)

14.1.8.4.     Recent Developments

14.1.8.5.     Key Management Personnel

14.1.9. China Aviation Lithium Battery Co. Ltd.

14.1.9.1.     Company Details

14.1.9.2.     Key Product Offered

14.1.9.3.     Financials (As Per Availability)

14.1.9.4.     Recent Developments

14.1.9.5.     Key Management Personnel

14.1.10.   Contemporary Amperex Technology Co. Limited

14.1.10.1.   Company Details

14.1.10.2.   Key Product Offered

14.1.10.3.   Financials (As Per Availability)

14.1.10.4.   Recent Developments

14.1.10.5.   Key Management Personnel

15.  Strategic Recommendations

15.1.           Key Focus Areas

15.1.1. Target Regions

15.1.2. Target Vehicle Type

15.1.3. Target Battery Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The Global Passenger Car Battery Market size reached USD 13.28 billion in 2023.

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In 2023, the fastest-growing segment by battery type in the global passenger car battery market was lithium-ion (Li-ion) batteries. This growth is primarily driven by the increasing adoption of electric vehicles (EVs) and hybrid vehicles, which utilize lithium-ion technology for its high energy density, longer life span, and improved performance compared to traditional lead-acid batteries.

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Asia-Pacific, with China at the forefront, is the dominant region in the Global Passenger Car Battery Market. China's rapid electric vehicle adoption, driven by government incentives and domestic manufacturing capabilities, makes it the largest market for passenger car batteries. The region's robust battery production and strong demand for electric and hybrid vehicles solidify its dominant position in the market.

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The major drivers for the Global Passenger Car Battery Market include the increasing adoption of electric and hybrid vehicles, stringent emissions regulations promoting cleaner transportation, and continuous advancements in battery technology, enhancing range and charging capabilities, thereby fueling demand for high-performance passenger car batteries.

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Srishti Verma

Business Consultant
Press Release

Passenger Car Battery Market to Grow with a CAGR of 6.73% through 2029

Aug, 2024

Increasing adoption of electric and hybrid vehicles and stringent emissions regulations promoting cleaner transportation are the factors driving the Global Passenger Car Battery Market in the forecas

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