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Light Vehicle Batteries Market by Application, and Geography - Forecast and Analysis 2022-2026

  • Published: Feb 2022
  • Pages: 120
  • SKU: IRTNTR72629
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The light vehicle batteries market share is expected to increase by USD 34.06 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.72%. This light vehicle batteries market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The light vehicle batteries market report also offers information on several market vendors, including 3M Co., A123 Systems LLC, Altairnano, Banner GmbH, Clarios, EcoBat Battery Technologies, Exide Industries Ltd., FIAMM Energy Technology Spa, Furukawa Electric Co. Ltd., General Motors Co., GS Yuasa Corp., Johnson Matthey Plc, LG Chem Ltd., Nissan Motor Co. Ltd., Panasonic Corp., Primearth EV Energy Co. Ltd., Robert Bosch Stiftung GmbH, Samsung SDI Co. Ltd., Suzuki Motor Corp., The BYD Motors Inc., and Toshiba Corp. among others. Furthermore, this report extensively covers light vehicle batteries market segmentation by application (ICEV and EV) and geography (APAC, Europe, North America, South America, and Middle East and Africa).

What will the Light Vehicle Batteries Market Size be During the Forecast Period?

Light Vehicle Batteries Market Size

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Light Vehicle Batteries Market: Key Drivers, Trends, and Challenges

The stringent regulations on GHG emissions from automobiles is notably driving the light vehicle batteries market growth, although factors such as widening disparity between lithium demand and supply may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the light vehicle batteries industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Light Vehicle Batteries Market Driver

The stringent regulations on GHG emissions from automobiles is one of the key drivers supporting the light vehicle batteries market growth. In the US, more than half of the carbon pollution stems from the power and transportation industries. Hence, with the objective of ensuring increased fuel savings, a cleaner environment, and reduced oil imports, the EPA and the NHTSA have together developed regulations to contain GHG emissions and improve the fuel economy of passenger cars and trucks. For instance, the government has reduced the emissions of carbon monoxide from 2.3 gm/km under Bharat Stage-III to 1.0 gm/km under Bharat Stage IV for passenger cars. Similarly, the emissions of hydrocarbons and nitrogen oxides have been limited to 0.18 gm/km under the Bharat Stage IV standards. Thus, the growing stringency of regulations pertaining to GHG emissions from transport vehicles has led to an increase in the demand for EVs across the world, which, in turn, is expected to foster the growth of the global light vehicle batteries market during the forecast period.

Key Light Vehicle Batteries Market Trend

The rising number of collaborations between market vendors is another factor supporting the light vehicle batteries market growth. Many vendors are forging partnerships to provide innovative products and increase their profitability. Such partnerships also help them to differentiate their products and remain competitive in the market. For instance, in November 2021, Nexcharge, a joint venture, was formed between India's leading battery maker Exide and Switzerland's Leclanche. Thus, the increased number of vendor collaborations in the market will significantly intensify the competition in the market, leading to more R&D activities by vendors seeking to gain a competitive advantage. Due to these alliances, the manpower and technical expertise of the collaborating companies can be utilized for innovating new technologies, which will spur the sales of light vehicle batteries, thereby driving the growth of the global light vehicle batteries market during the forecast period.

Key Light Vehicle Batteries Market Challenge

The widening disparity between lithium demand and supply is one of the factors hindering the light vehicle batteries market growth. The demand for Li-ion batteries has increased in the transportation sector due to the increase in the adoption of EVs, in which Li-ion batteries are primarily used. These batteries have become the preferred battery systems for EVs due to the various improvements in energy, battery cycle life, power density, cost, and safety. This has resulted in an increase in the consumption of lithium for EVs, in addition to consumer electronic devices, such as smartphones and laptops. For instance, the IEA, India has set a target to make EVs account for 30% of total vehicle sales by 2030. Therefore, the disparity in the demand for and the supply of lithium could hinder the growth of the global light vehicle batteries market during the forecast period.

This light vehicle batteries market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global light vehicle batteries market as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the light vehicle batteries market during the forecast period.

Who are the Major Light Vehicle Batteries Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • 3M Co.
  • A123 Systems LLC
  • Altairnano
  • Banner GmbH
  • Clarios
  • EcoBat Battery Technologies
  • Exide Industries Ltd.
  • FIAMM Energy Technology Spa
  • Furukawa Electric Co. Ltd.
  • General Motors Co.
  • GS Yuasa Corp.
  • Johnson Matthey Plc
  • LG Chem Ltd.
  • Nissan Motor Co. Ltd.
  • Panasonic Corp.
  • Primearth EV Energy Co. Ltd.
  • Robert Bosch Stiftung GmbH
  • Samsung SDI Co. Ltd.
  • Suzuki Motor Corp.
  • The BYD Motors Inc.
  • Toshiba Corp.

 

This statistical study of the light vehicle batteries market encompasses successful business strategies deployed by the key vendors. The light vehicle batteries market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

3M Co.

  • The company offers light vehicle batteries that include thermal management solutions for XEV battery that provide efficient, effective thermal management solutions including streamlined processes, faster assembly, and XEV battery systems designed for extended life, range and recharge time.
  • In 2020, December, the company partnered with eMurmur.

A123 Systems LLC

  • The company offers light vehicle batteries that includes lithium-ion 12v starter battery, lithium-ion 48v battery, lithium iron phosphate solutions, nickel manganese cobalt solutions which are used to support development and validation of advanced cell designs, software, electronics and thermal management systems that power electrified vehicles.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The light vehicle batteries market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Light Vehicle Batteries Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the light vehicle batteries market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Light Vehicle Batteries Market?

Light Vehicle Batteries Market Market segmentation by region

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53% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for light vehicle batteries market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing economic standards will facilitate the light vehicle batteries market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic drastically impacted the regional light vehicle batteries market during the first half of 2020 in APAC. However, with the introduction of COVID-19 vaccines and the resumption of production facilities in the automotive industry, the market has been recovering since 2021. Thus, such factors are expected to increase the demand for light vehicles, which, in turn, will drive the growth of the regional light vehicle batteries market during the forecast period.

What are the Revenue-generating Application Segments in the Light Vehicle Batteries Market?

Light Vehicle Batteries Market Segmentation

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The light vehicle batteries market share growth by the ICEV segment will be significant during the forecast period. The ICEV segment of the global light vehicle batteries market is likely to grow at a moderate rate during the forecast period, mainly because of the increase in the global production of passenger cars and light commercial vehicles. The increase in fuel economy requirements and the trend toward electrification prompt automakers to develop more hybridized ICEVs. The demand for passenger cars increased in 2021, as people intended to purchase new and used cars. Thus, an increase in demand will drive market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the light vehicle batteries market size and actionable market insights on post COVID-19 impact on each segment.

 

Light Vehicle Batteries Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 12.72%

Market growth 2022-2026

$ 34.06 billion

Market structure

Fragmented

YoY growth (%)

10.47

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 53%

Key consumer countries

US, China, Japan, India, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

3M Co., A123 Systems LLC, Altairnano, Banner GmbH, Clarios, EcoBat Battery Technologies, Exide Industries Ltd., FIAMM Energy Technology Spa, Furukawa Electric Co. Ltd., General Motors Co., GS Yuasa Corp., Johnson Matthey Plc, LG Chem Ltd., Nissan Motor Co. Ltd., Panasonic Corp., Primearth EV Energy Co. Ltd., Robert Bosch Stiftung GmbH, Samsung SDI Co. Ltd., Suzuki Motor Corp., The BYD Motors Inc., and Toshiba Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Light Vehicle Batteries Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive light vehicle batteries market growth during the next five years
  • Precise estimation of the light vehicle batteries market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the light vehicle batteries industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of light vehicle batteries market vendors

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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 Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

  • 5.1 Market segments
    • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
  • 5.2 Comparison by Application
    • Exhibit 26: Chart on Comparison by Application
    • Exhibit 27: Data Table on Comparison by Application
  • 5.3 ICEV - Market size and forecast 2021-2026
    • Exhibit 28: Chart on ICEV - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 29: Data Table on ICEV - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 30: Chart on ICEV - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on ICEV - Year-over-year growth 2021-2026 (%)
  • 5.4 EV - Market size and forecast 2021-2026
    • Exhibit 32: Chart on EV - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 33: Data Table on EV - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 34: Chart on EV - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on EV - Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Application
    • Exhibit 36: Market opportunity by Application ($ billion)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 APAC - Market size and forecast 2021-2026
    • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.4 Europe - Market size and forecast 2021-2026
    • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.5 North America - Market size and forecast 2021-2026
    • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 China - Market size and forecast 2021-2026
    • Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.9 US - Market size and forecast 2021-2026
    • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.10 Japan - Market size and forecast 2021-2026
    • Exhibit 70: Chart on Japan - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 71: Data Table on Japan - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 72: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 7.11 Germany - Market size and forecast 2021-2026
    • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.12 India - Market size and forecast 2021-2026
    • Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ billion)
    • Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 82: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 3M Co.
    • Exhibit 89: 3M Co. - Overview
    • Exhibit 90: 3M Co. - Business segments
    • Exhibit 91: 3M Co. - Key news
    • Exhibit 92: 3M Co. - Key offerings
    • Exhibit 93: 3M Co. - Segment focus
  • 10.4 A123 Systems LLC
    • Exhibit 94: A123 Systems LLC - Overview
    • Exhibit 95: A123 Systems LLC - Product / Service
    • Exhibit 96: A123 Systems LLC - Key offerings
  • 10.5 Altairnano
    • Exhibit 97: Altairnano - Overview
    • Exhibit 98: Altairnano - Product / Service
    • Exhibit 99: Altairnano - Key offerings
  • 10.6 Banner GmbH
    • Exhibit 100: Banner GmbH - Overview
    • Exhibit 101: Banner GmbH - Product / Service
    • Exhibit 102: Banner GmbH - Key offerings
  • 10.7 Clarios
    • Exhibit 103: Clarios - Overview
    • Exhibit 104: Clarios - Product / Service
    • Exhibit 105: Clarios - Key offerings
  • 10.8 Exide Industries Ltd.
    • Exhibit 106: Exide Industries Ltd. - Overview
    • Exhibit 107: Exide Industries Ltd. - Business segments
    • Exhibit 108: Exide Industries Ltd. - Key offerings
    • Exhibit 109: Exide Industries Ltd. - Segment focus
  • 10.9 GS Yuasa Corp.
    • Exhibit 110: GS Yuasa Corp. - Overview
    • Exhibit 111: GS Yuasa Corp. - Business segments
    • Exhibit 112: GS Yuasa Corp. - Key news
    • Exhibit 113: GS Yuasa Corp. - Key offerings
    • Exhibit 114: GS Yuasa Corp. - Segment focus
  • 10.10 LG Chem Ltd.
    • Exhibit 115: LG Chem Ltd. - Overview
    • Exhibit 116: LG Chem Ltd. - Business segments
    • Exhibit 117: LG Chem Ltd. - Key news
    • Exhibit 118: LG Chem Ltd. - Key offerings
    • Exhibit 119: LG Chem Ltd. - Segment focus
  • 10.11 Samsung SDI Co. Ltd.
    • Exhibit 120: Samsung SDI Co. Ltd. - Overview
    • Exhibit 121: Samsung SDI Co. Ltd. - Business segments
    • Exhibit 122: Samsung SDI Co. Ltd. - Key offerings
    • Exhibit 123: Samsung SDI Co. Ltd. - Segment focus
  • 10.12 The BYD Motors Inc.
    • Exhibit 124: The BYD Motors Inc. - Overview
    • Exhibit 125: The BYD Motors Inc. - Product / Service
    • Exhibit 126: The BYD Motors Inc. - Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 127: Inclusions checklist
    • Exhibit 128: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 129: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 130: Research methodology
    • Exhibit 131: Validation techniques employed for market sizing
    • Exhibit 132: Information sources
  • 11.5 List of abbreviations
    • Exhibit 133: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Light Vehicle Batteries market growth will increase by $34.06 billion during 2021-2026.
The light vehicle batteries market is expected to grow at a CAGR of 12.72% during 2021-2026.
Technavio has segmented the light vehicle batteries market by application (ICEV, EV, and South America) and geography (APAC, North America, Europe, South America, and Middle East and Africa).
3M Co., A123 Systems LLC, Altairnano, Banner GmbH, Clarios, EcoBat Battery Technologies, Exide Industries Ltd., FIAMM Energy Technology Spa, Furukawa Electric Co. Ltd., General Motors Co., GS Yuasa Corp., Johnson Matthey Plc, LG Chem Ltd., Nissan Motor Co. Ltd., Panasonic Corp., Primearth EV Energy Co. Ltd., Robert Bosch Stiftung GmbH, Samsung SDI Co. Ltd., Suzuki Motor Corp., The BYD Motors Inc., Toshiba Corp. are a few of the key vendors in the light vehicle batteries market.
APAC will register the highest growth rate of 53.08% among the other regions. Therefore, the light vehicle batteries market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the light vehicle batteries market growth are:
  • Stringent regulations on GHG emissions from automobiles
  • Rising number of collaborations between market vendors
The light vehicle batteries market vendors should focus on grabbing business opportunities from the icev segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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