Connect with us
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Research Reports

Global Vehicle Battery Market is Expected to Register a CAGR of 4.64% Between 2021 and 2030: Fairfield Market Research

Global Vehicle Battery Market is Expected to Register a CAGR of 4.64% Between 2021 and 2030: Fairfield Market Research



The global vehicle battery market is expected to flourish as the automobile industry undergoes a significant transformation. The rise in electrification of vehicles has also led to surging demand for vehicle batteries. According to Fairfield Market Research the global vehicle battery market will register a CAGR of 4.64% between 2021 and 2030. By the end 2030, analysts anticipate that the global vehicle battery market will be worth US$43.48 Bn.


The focus on attaining energy sustainability to reduce pollution issues is likely to bring lucrative opportunities for the market. The study indicates that the shift towards green transportation can shape the future of the market. 


Looking For a Sample Copy of This Report? Request the Same Here: 


Widespread Popularity of Electric Vehicles to Boost Market Growth of Vehicle Battery 

Vehicle battery plays a pivotal role in improving driving performance and ensuring the operational safety of a vehicle. Numerous technological advancements such as lithium-ion batteries have resulted in a broader acceptance of electric vehicles for personal and commercial uses as its technology allows high battery recharge capacity. Rise in investment to manufacture solutions that increase the vehicle’s battery while lowering production costs will increase the demand of these batteries. For instance, Tesla investments in the development of vehicle batteries in the Asia Pacific market is expected to give the market a shot in the arm. 


Government and regulatory bodies are actively working towards curbing carbon emissions by promoting cleaner transportation alternatives. This has pushed manufacturers to develop advanced batteries with high energy density. The market is expected to witness innovations ahead owing to these reasons. 


Lack of Infrastructure to Hinder Market Growth During Forecast Period 

The global vehicle market is expected to face certain restraints, which might hamper its growth during the forecast period. Lack of charging stations to support the usage of electric vehicles is expected to hinder the market growth. The market for vehicle battery is also expected to suffer as the automotive industry, on the whole, has been experiencing cyclical depression, resulting in plummeting sales. In 2020, several automobile manufacturers suffered mammoth losses, which also percolated to ancillary market such as the vehicle battery market. However, as consumers opt for personal vehicles to avoid crowded shared mobility alternatives, the automobile market is expected to gain momentum.


Electric Car Segment to Flourish Owing to Shift Towards Cleaner Alternatives   

The electric car segment is expected to rise in demand during the forecast period as consumers behaviour tilts towards sustainable transport systems. Numerous government incentives and stringent regulations to curb carbon emission and to find cleaner alternatives will boost the demand for this segment.


For instance, the Government of India’s Energy Efficiency Services Ltd (EESL) plans to deploy 20,000 EVs across the country for official use. With this move, it aims to achieve an EV sales penetration of 70% for commercial cars, 40% for buses, 30% for private cars, and 80% for two- and three-wheelers by 2030. Such initiatives are expected to create a high demand for new vehicle batteries that operate at excellent efficiency. 


Do You Have Any Query or Specific Requirement? Request Customization of Report: 


Contracts between Electric Vehicle Manufacturers and Battery Manufacturers to Provide Lucrative Opportunities in Asia Pacific 

Asia Pacific is expected to lead the global market for vehicle battery during the forecast period as this region has a large manufacturing base in developing economies such as China and India. Availability of cheap raw material and labour in this region increases its sales. Numerous electric vehicle manufacturers are collaborating with battery manufacturers in Asia such as Volkswagen and BMW to purchase batteries from Samsung SDI, LG Chem, CATL and other Korean producers. 


The strong presence of players in the region is expected to keep the regional market at the forefront. Furthermore, as China and India remain hubs of ancillary markets for the automobile industry, the vehicle batter market in this part of the world will have an edge over others.


Key Players are Adopting Strategies such as Mergers and Acquisition to Stay Ahead in Competition 

The global vehicle market is heavily dependent on raw material manufacturers and suppliers therefore, key players are adopting numerous strategies such as mergers and acquisitions and joint ventures to consolidate their market presence. For instance, NEDO, Sharp and Toyota have collaborated to manufacture an exclusive car that can run longer without needing to charge. Panasonic and Toyota have also announced a joint venture for producing batteries for electric vehicles. 


The key players operating in the global vehicle battery market are BYD Company Limited, Panasonic Corporation, Johnson Controls International PLC, SAMSUNG SDI Co., Ltd, Contemporary Amperex Technology Co., Limited, LG Chem Ltd., A123 Systems Inc.


About Us

Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.



Fairfield Market Research 

London, UK

UK +44 (0)20 30025888    

USA (Toll-free) +1 (844) 3829746 



Follow Us: LinkedIn 

Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking and Finance Review, Alpha House, Greater London, SE1 1LB, You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post