Automotive Battery Plate Market: Is Booming Across The Globe Exlored In Latest Research 2021-2031

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Automotive Battery Plate Market: Introduction

  • Demand for automotive batteries is increasing significantly due to the growing electrification trend and rising sale of vehicles, which in turn is fueling the requirement for battery components including plates
  • Battery plates are made from stiff mesh grid, which is coated with active material. They function as negative and positive electrodes of the battery, and the end terminals of these plates are connected to the external circuit for charging and discharging purposes.

Key Drivers of Automotive Battery Plate Market

  • Consistent rise in per capita GDP has improved the disposable income of the global population, which has led to a rise in the number of vehicles sold every year. Statistics provided by the International Energy Agency state that the sale of automobiles increased at a CAGR of approximately 4% in the last decade. Furthermore, consistent expansion of industries, on-going construction activities, and rise in logistics have led to a rise in sales of commercial vehicles. This rapid increase in sales of automobiles and more number of miles driven per vehicle are propelling the demand for automotive components including batteries from OEMs and in the aftermarket. Thus, a rise in sale of vehicles is fueling the automotive battery plate market across the globe.

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  • Transportation is a leading cause for a rise in the levels of pollution worldwide. The U.S. Environmental Protection Agency states that transportation emissions contribute 28% of the total greenhouse gases emitted in the country. This has increased awareness about the environment among automakers as well as customers and subsequently, boosted the demand for fuel-efficient vehicles. OEMs are increasingly investing in electrification of their vehicle models to decrease the load on engines and increase fuel-efficiency. OEMs have integrated multiple electric components in their vehicles, which propels the demand for larger batteries with higher discharge capacities. Battery manufacturers have formulated an array of automotive battery offerings with higher number of plates to increase their capacity. Thus, growing trend of vehicle electrification is boosting the automotive battery plate market across the globe.

Impact of COVID-19 pandemic on Automotive Battery Plate Market

  • The recent outbreak of COVID-19 pandemic forced governments to impose lockdowns for containing the spread of virus. Amidst these lockdowns and restriction on international trade activities, automotive supply chains across the globe were disrupted. Sale of vehicles also dropped significantly, thereby negatively impacting the global automotive battery plate market. However, countries are lifting restrictions and companies are restarting the production and trade activities, which is projected to fuel the automotive industry and subsequently, boost the automotive battery plate market in the near future.

Asia Pacific holds significant share of global automotive battery plate market

  • Asia Pacific dominated the global automotive battery plate market in 2020. The market in the region is expected to expand at a considerably high growth rate during the forecast period due to expansion of the automotive industry in countries such as China, India, and Japan. This expansion has led to high production of vehicles and increase in per capita income in the region, thereby fueling the sale of vehicles boosting the demand for automotive battery plates.

Key Players Operating in Automotive Battery Plate Market

The global automotive battery plate market is highly concentrated due to the presence of top manufacturers. A few of the key players operating in the automotive battery plate market are:

  • Amtek Batteries
  • Bater
  • CHILWEE GROUP CO.,LTD
  • Exide Industries Limited
  • Fujian Minhua Power Source Co., Ltd
  • Inzen Power Pty Ltd

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