USD 320.4 million
Battery Plate Market Size, Share, Growth Analysis, By Battery type(Lead acid battery, Lithium-ion battery, Others), By Plate type(Flat plate, Tubular plate), By Vehicle type(Two-wheeler, Passenger vehicle (Hatchback, Sedan, Utility vehicles)), By Sales channel(OEM, Aftermarket), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2058 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
121
|Figures:
77
Battery Plate Market Insights
Global Battery Plate Market size was valued at USD 2.08 billion in 2022 and is poised to grow from USD 2.43 billion in 2023 to USD 8.32 billion by 2031, growing at a CAGR of 16.63% in the forecast period (2024-2031).
Battery plates are grid-like structures that support the active material and conduct electricity. Battery plates are electrically charged during the forming process. They are immersed in an acid solution, where they react and generate electricity. Battery plates have low self-discharge, are easy to maintain, have a longer service life, and require less maintenance. All lead-acid batteries are made up of flat lead plates immersed in an electrolyte pool. A battery cell is made up of two lead plates, one positive covered in lead dioxide paste and one negative made of sponge lead, with an insulating material (separator) in between. The plates are enclosed in a plastic battery case before being immersed in an electrolyte of water and sulfuric acid.
US Battery Plate Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Lithium-ion battery
Fastest Growth
Lithium-ion battery
Growth Rate
35.7% CAGR
Global Battery Plate Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Battery Plate Market Segmental Analysis
Global battery plate market is segmented based on battery type, plate type, vehicle type, sales channel, and region. Based on battery type, market is segmented into lead acid battery, Lithium-ion battery, others. Based on plate type, the market is segmented into flat plate, tubular plate. Based on vehicle type, market is segmented as two-wheeler, passenger vehicle (hatchback, sedan, utility vehicles), light commercial vehicle, trucks, buses and coaches, off road vehicles. Based on sales channel, the market is segmented as OEMs, Aftermarket. Based on region, global Battery Plate Market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa.
Battery Plate Market Analysis by Type:
The market is divided into lead-acid, lithium-ion, and other types. During the projection period, lithium-ion is expected to be a key market segment. Lithium-ion batteries have the highest energy density per weight, the fastest charging capacity, a longer lifespan, and a high-power density.
Battery Plate Market Analysis by Sales Channel
The market is divided into two segments based on the sales channel: OEMs and aftermarket. As battery plate is less expensive than OEM, the quality is equal to OEM, there is more variety, and the battery plate is more readily available in nearby retailers, the aftermarket channel dominates the market.
Global Battery Plate Market By Type, 2021 (%)
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Battery Plate Market Regional Insights
North America held the largest global battery plate market share. The market is expanding rapidly as a result of increased battery production for vehicles such as trucks. GNB is the principal battery supplier to the forklift truck chain in North America. Furthermore, battery plate developments are made using sophisticated tubular technological characteristics that encase the active material, resulting in cyclic stability, longer life, and better capacity.
The Asia Pacific battery plate market growth is attributed to growing battery production as well as rising environmental concerns in nations such as China, India, and Singapore. The increased use of electric vehicles in Europe is a major driver driving market growth. In June, the Cessna Caravan plane flew its maiden all-electric flight. The UAE government has begun efforts across the Middle East and Africa to reduce the contribution of road transport to its footprint, making it an ideal area to accelerate the adoption rate of green mobility solutions. Rising environmental concerns in the region are also contributing to the market's expansion.
Global Battery Plate Market By Geography, 2021 - 2028
- Largest
- Fastest
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Battery Plate Market Dynamics
Battery Plate Market Drivers
- The consistent rise in per capita GDP has increased the worldwide population's disposable income, resulting in an increase in the number of vehicles sold each year. According to International Energy Agency statistics, automotive sales climbed at a CAGR of around 4% during the last decade. Furthermore, constant industry expansion, ongoing construction activities, and an increase in logistics have resulted in an increase in commercial vehicle sales. The rapid increase in automobile sales and the increased number of kilometres driven per vehicle are driving up demand for automotive components, particularly batteries, from OEMs and the aftermarket. As a result, an increase in vehicle sales is propelling the global battery plate market.
Battery Plate Market Restraint
- Product failure due to manufacturing and non-manufacturing flaws cause physical damage, manufacturing errors, wear and tear, failure to maintain fluid levels, undercharging or overcharging. Sulphation, as well as lights or other accessories left on for extended periods of time, may reduce product life. Batteries have a limited lifespan, and failure is caused by a variety of circumstances, including non-manufacturing and manufacturing flaws. Another impediment to the market is the high cost of battery production.
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Battery Plate Market Competitive Landscape
The battery plate market is characterised by the presence of well-established players as well as several small and medium-sized players. These manufacturers are pursuing a variety of strategies, including new product launches, product portfolio expansion, and mergers and acquisitions. Several large firms are forming multiple strategic alliances in order to increase their market share and get a competitive edge.
Top Players in the Battery Plate Market
- Johnson Controls
- EnerSys
- Exide Technologies
- East Penn Manufacturing Co.
- GS Yuasa Corporation
- Crown Battery Manufacturing Co.
- Chaowei Power Holdings Limited
- Leoch International Technology Limited
- C&D Technologies, Inc.
- Fengfan Co., Ltd.
- Amara Raja Batteries Limited
- Narada Power Source Co., Ltd.
- Trojan Battery Company
- NorthStar Battery Company, LLC
- Enersys Energy Products Inc.
- GS Battery (USA) Inc.
- HBL Power Systems Ltd.
- FIAMM Energy Technology S.p.A.
- Hoppecke Batterien GmbH & Co. KG
- ATLASBX Co., Ltd.
Battery Plate Market Recent Developments
- In March 2022, Exide Industries, one of India's leading battery manufacturers serving the automotive and industrial sectors, entered into a long-term technical collaboration agreement for lithium-ion cell manufacturing with China's SVOLT Energy Technology Co Ltd. SVOLT will grant Exide an irrevocable right and license to use, exploit, and commercialize necessary technology and know-how owned by them for lithium-ion cell manufacturing in India under the multi-year agreement
- In May 2022, Natron Energy, Inc., a leading manufacturer of sodium-ion batteries, and Clarios International Inc., the global leader in low-voltage advanced battery technologies for mobility, announced a strategic partnership to produce the world's first mass-produced sodium-ion batteries.
Battery Plate Key Market Trends
Electrification of Vehicles
- Transportation is a major contributor to global pollution levels rising. According to the US Environmental Protection Agency, transportation emissions account for 28% of total greenhouse gas emissions in the country. This has raised environmental consciousness among automakers and buyers, resulting in increasing demand for fuel-efficient vehicles. OEMs are progressively investing in electrification of their vehicle models in order to reduce engine load and improve fuel efficiency. OEMs have integrated several electric components into their vehicles, fuelling demand for larger batteries with higher discharge capacity. To enhance capacity, battery manufacturers have developed a variety of car battery solutions with a greater number of plates. As a result, the growing trend of vehicle electrification is increasing the automobile battery plate market across globe
Battery Plate Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global battery plate market analysis, by battery type, lithium-ion is expected to be a key market segment. By region, North America is dominating the global market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.08 billion |
| Market size value in 2031 | USD 8.32 billion |
| Growth Rate | 16.63% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Battery Plate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Battery Plate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Battery Plate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Battery Plate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Battery Plate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Battery Plate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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