Automotive battery plates are constructed in a lattice grid and support the active material and conduct electricity. Battery plates undergo the forming process where they are electrically charged. They are immersed in an acid solution, where they react with the acid and generate electricity. Battery plates offer features such low self-discharge, easy maintenance, longer service life, and less maintenance. Rise in demand for fuel-efficient vehicles and increase in investment from OEMs in battery production, in order to provide enhance lifespan, are likely to drive the automotive battery plate market during the forecast period. High rate of adoption of battery electric vehicles along electric vehicles, in order to reduce carbon emission, stringent emission norms, and rise in production of electric powertrains are anticipated to drive the market during the forecast period.
The automotive battery plate market can be segmented based on battery type, vehicle, sales channel, and region. Based on battery type, the automotive battery plate market can be classified into lead acid, lithium ion, and others. Lithium ion is expected to be a prominent segment of the market during the forecast period. Lithium ion batteries offer several advantages such as highest energy density per weight, fast charging capacity, longer lifespan, and high power density. Consequently, demand for lithium ion batteries is likely to rise during the forecast period. Similarly, stringent emission norms enacted by regulatory bodies, and rise in production of electric vehicles across the globe is anticipated to boost the demand for lithium ion batteries during the forecast period.
Based on vehicle, the global automotive battery plate market can be segregated into passenger vehicle, commercial vehicle, and electric vehicle. Passenger vehicle currently dominates the market owing to the higher production of passenger vehicles across the globe. Modern passenger vehicles are equipped with the latest features and hence, requirement for batteries are always higher for passenger vehicles. Electric vehicle sub segment is expected as an emerging sub segment during the forecast period owing to major electric vehicle manufacturers employing lithium ion batteries due to the advantages these batteries offer such as high energy density, compact size, and high storage capacity.
In terms of sales, the global automotive battery plate market can be segregated into OEMs and aftermarket. Presence of several battery plate suppliers in the aftermarket is likely to drive the automotive battery plate market during the forecast period.
In terms of region, the global automotive battery plate market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is likely to dominate the automotive battery plate market during the forecast period. The market in Asia Pacific is expected to expand during the forecast period due to a large automotive industry, high production of passenger vehicles and increase in per capita income in the region.
Key players operating in the global automotive battery plate market include Amtek Batteries, V.B. Corporation, Spark Battery Industries, Inzen Power Pty Ltd, and ZEN BATTERIES.
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