Automotive Starting Battery Market to Reach $36.2 Billion, Globally, by 2033 at 4.4% CAGR: AMR

Advancements in battery tech, like higher energy density and fast charging, drive growth in the market, boosting efficiency and lifespan.

WILMINGTON, DE, UNITED STATES, February 7, 2025 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Automotive Starting Battery Market by Battery Type (Lead-Acid Batteries, Enhanced Flooded Batteries and Absorbent Glass Mat (AGM) Batteries, Lithium-Ion Batteries), Vehicle Type (Passenger Vehicles, Commercial Vehicles and Heavy Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the automotive starting battery market was valued at $23.5 billion in 2023, and is estimated to reach $36.2 billion by 2033, growing at a CAGR of 4.4% from 2024 to 2033.

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Prime determinants of growth
The global automotive starting battery market has experienced growth due to several factors such as increase in production and sales of automobiles globally and the surge in adoption of electric vehicles (EVs) & hybrid vehicles. However, the high cost of advanced batteries, such as lithium-ion batteries, compared to traditional lead-acid batteries, hinders market growth. Moreover, the increasing focus on research and development activities aimed at improving battery performance, reducing costs, and enhancing energy density presents additional opportunities for the automotive starting battery market.

The lead-acid batteries segment held the highest market share in 2023.
By battery type, the lead-acid batteries segment held the highest market share in 2023 and is likely to retain its dominance throughout the forecast period. The increasing demand for lead-acid batteries in the automotive starting battery market is driven by several factors. Lead-acid batteries are cost-effective, reliable, and capable of delivering high surge currents, essential for starting engines. Their recyclability aligns with environmental regulations, enhancing their appeal. In addition, the rising production of vehicles, particularly in developing economies, boosts demand. Technological advancements in battery design and manufacturing have improved performance and lifespan, making them a preferred choice for automotive applications. Furthermore, the established infrastructure for lead-acid battery manufacturing and recycling supports their widespread use, ensuring consistent supply and availability.

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The passenger vehicles segment held the highest market share in 2023.
By vehicle type, the passenger vehicles segment held the highest market share in 2023 and is likely to retain its dominance throughout the forecast period. The increasing demand for passenger vehicles in the automotive starting battery market is driven by several factors. Rising urbanization and improving living standards boost vehicle ownership. Technological advancements in battery efficiency and durability, along with growing consumer preference for electric and hybrid vehicles, contribute to market growth. In addition, government incentives and regulations promoting clean energy and vehicle electrification spur demand. The expanding middle-class population in emerging economies further fuels vehicle purchases, driving the need for reliable starting batteries. Enhanced infrastructure development, including better road networks and charging facilities, also supports the increased demand for passenger vehicles.

Asia-Pacific segment held the highest market share in 2023.
By region, Asia-Pacific held the highest market share in 2023. The increase in demand for automotive starting batteries in the Asia-Pacific region is driven by several factors. Rapid urbanization and economic growth have led to a surge in vehicle ownership. In addition, government initiatives promoting electric vehicles and stringent emission regulations are boosting the adoption of advanced automotive batteries. The expansion of the automotive industry, coupled with technological advancements and increased consumer preference for reliable and efficient starting batteries, further fuels this demand. Moreover, the rise of e-commerce and delivery services is contributing to the need for dependable automotive batteries to ensure the smooth operation of fleets and logistics.

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Leading Market Players: -
• Johnson Controls, Inc
• Exide Technologies, LLC
• GS Yuasa Corporation
• Panasonic Corporation
• East Penn Manufacturing Company, Inc
• Robert Bosch GmbH
• Crown Battery Manufacturing Co.
• Leoch International Technology Limited, Inc
• Hitachi Chemical Company
• FIAMM Energy Technology

The report provides a detailed analysis of these key players in the global automotive starting battery market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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David Correa
Allied Market Research
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