USD 320.4 million
Report ID:
SQMIG25A2058 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
121
|Figures:
77
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.
Global Market Size
USD 320.4 million
Largest Segment
Lithium-ion battery
Fastest Growth
Lithium-ion battery
Growth Rate
35.7% CAGR
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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.
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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.
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Battery Plate Market Drivers
Battery Plate Market Restraint
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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
Battery Plate Market Recent Developments
Electrification of Vehicles
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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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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Report ID: SQMIG25A2058