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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Light Vehicle Batteries Market Outlook
The global light vehicle batteries market is expected to grow at a CAGR of 9% during the forecast period of 2024-2032.
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Light car batteries are rechargeable batteries used in light internal combustion engine cars (ICEVs) to start lighting and ignition applications and for energy propulsion in light electric vehicles (EVs). The light vehicle batteries market is being driven by the rising sales of electric vehicles.
Market Segmentation
The light vehicle batteries industry can be segmented into applications and regions.
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Based on its application, the light vehicle batteries market can be segmented as:
- ICEV
- EV
- Others
The EMR report looks into the regional markets of light vehicle batteries like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
Factors such as the rising global passenger car manufacturing and light commercial vehicles will play an essential part in maintaining the market position in the inner combustion engine vehicle (ICEV) segment. The stringent legislation on automotive CHG emissions, increasing urbanization, and decreasing Li-ion battery prices are expected to propel the industry further forward. However, the widening the disparity between lithium demand and supply, strict legislation against lead emissions, and the absence of EV charging facilities can hamper the development of the light vehicle batteries market over the forecast time.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global light vehicle batteries market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- A123 Systems LLC
- East Penn Manufacturing Co. Inc.
- GS Yuasa Corp.
- LG Chem Ltd. (OTCMKTS: LGCLF)
- Samsung SDI Co. Ltd.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global light vehicle batteries market is projected to grow at a CAGR of nearly 9% in the forecast period of 2024-2032.
The major drivers of the industry include rising disposable incomes, increasing population, growing sales of electric vehicles, and the reducing Li-ion battery prices.
The strict legislation on automotive CHG emissions is expected to be a key trend guiding the growth of the industry.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The leading application segments of the product include ICEV and EV, among others.
The leading players in the market are A123 Systems LLC, East Penn Manufacturing Co. Inc., GS Yuasa Corp., LG Chem Ltd., and Samsung SDI Co. Ltd., among others.
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