Without the battery, modern automobiles would not start at all. Before the battery, cranking power was provided by the engine starter driver with an insertable crank. But for several decades, modern electronics, including Automobile Batteries, have contributed to this process. Unfortunately, even today, faults with the batteries contribute to the number of car breakdowns. Many components of modern vehicles, such as air conditioning, heaters, and infotainment systems, add to the demands on energy storage.
There are special Battery Recycling solutions for vehicles equipped with a start and stop system. However, these are often more expensive than storage devices from conventional energy due to their higher capacity. There is a difference between open systems, into which distilled water can be poured, and "maintenance free" closed batteries. Currently, the battery market is clearly oriented towards the closed system. The Global Ammeter survey shows the market size and growth rate for the forecast period 2021-2030. It show a rapid increase in sale of battery in 2021.
AUTOMOTIVE BATTERY MARKET: KEY TRENDS
• The market for Automobile Batteries registers a CAGR of approx. 6.5% in the forecast period (2019-2024).
• Some of the key drivers of market growth are: Development of new fuel-saving technologies such as micro-hybrid systems and improvements, and increases in the functionality of commercial and passenger cars are expected as a result of increased battery consumption.
• With advances in-car technology, cars are now equipped with many features such as Battery Separator. Due to fierce competition among automakers, functionality has grown exponentially over the last few years. Features such as advanced gadgets, lighting, and infotainment systems for cars are being extended to entry-level vehicles. These new features put a lot of pressure on car batteries to withstand higher loads. This is expected to expand the Battery Projects market.
• Lithium-Ion (Li-Ion) Battery is expected to become the fastest-growing type of battery in the coming years due to the rapid increase in sales and demand for battery-powered electric cars and the market for plug-in hybrid cars.
• Automotive lithium battery Revenues and sales by type and application (2021–2026) will increase by rate of more than 5%.
KEY PLAYERS IN THE MARKET
The automotive battery market is dominated by several major suppliers- Samsung SD, Exide, Panasonic, China Aviation Lithium. Technological development in the automotive battery market is mainly driven by start-ups. For example, in April 2019, Swiss start-up Innolith claimed to have manufactured the world's first Maintenance Free Rechargeable Battery with 1000 WH / kg. In contrast, the battery Tesla uses in the Model 3 is called the 2170 cell, weighs around 250 WH / kg, and Innolith will ultimately push it to 330 WH / kg.
Companies are also teaming up to win the competition. For example, Panasonic and Toyota have announced their intention to jointly produce batteries for electric vehicles and also announced that they had started mass production of batteries for electric vehicles at the Giga plant, which was established through a partnership between Panasonic and Tesla.
With the advancement of automotive battery technology, the number of vehicles equipped with technologies such as EFB (Enhanced Flooded Battery) and AGM (Absorbed Glass Mat) has increased rapidly. The latest technology has succeeded in powering the start-stop system by increasing the number of engines starts several times. More than 20 million starter batteries are currently produced annually, which is expected to exceed 55 million by the end of 2021. As implemented in most models, start-stop technology is expected to penetrate the next market. The pace is fast, and the automotive battery market is growing.
#DetailedProjectReport #businessconsultant #BusinessPlan
#feasibilityReport #NPCS #industrialproject #Entrepreneurindia #AUTOMOTIVEBATTERY