Automotive Battery Plate Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2045
Automotive Battery Plate Market size is expected to witness significant growth owing to global demand from increasing integration of electronics in automobiles.
Increasing investments in battery cell production to minimize fuel consumption and increase its life span may enhance the automotive battery plate market. For instance, Nissan and Tesla are heavily investing to upgrade the product. These research activities will enhance the performance, and ensure compact, lightweight, and cost-efficient model.
High adoption rate of electric vehicles in several countries is accelerating the demand for automotive battery plate industry. Rising environmental concerns is spurring the demand for plug-in hybrid electric vehicles and electric vehicles in many regions to reduce the carbon footprint. Rising production of electric powertrains across the world will strengthen the industry position. High adoption rate for electric vehicles will enhance the aftermarket demand for the product as well.
Increased automobile production is expected to boost the global automotive battery plate market. OEMs are engaged in expanding their manufacturing facilities in a region where the labor cost is cheap and easily available. Increasing sales of commercial vehicles will lead to industry growth.
Lithium ion is the most widely used chemical in the existing products. The plates immersed in acids reacts and generates electricity. Over a time period the battery loses water and leads to warpage of the plates. When the driver starts engine, heavy power demand may cause the warped plates to spark thereby leading to automobile explosion. The National Highway Traffic Safety Administration (NHTSA) observed many injuries due to several similar explosions. The related accidents may hamper the automotive battery plate market growth rate.
Product failures due to physical damage, manufacturing faults, wear and tear, failure to maintain fluid levels, under charging or over charging, sulphation, and lights or other accessories left on for extended periods may shorten the product life. Batteries have a finite life and the failure is attributed to various factors including non-manufacturing and manufacturing faults.
Technological advancements may enhance the technical specifications of the battery plate used in automobiles to offer light weight model, low cost, and long sustainability in chemicals. For instance, ElectriPlast bi-polar plate will serve the purpose of high performance, cost efficiency, and efficacy. The added features include high temperature stand loss, capacity at rate, and life cycle. Servo mount and carbon fibre battery plate offer improved specifications. These enhanced features of the product may spur the demand for automotive battery plate market globally.
Product advancements will accelerate the electric vehicle adoption rate world-wide. Improvements in current battery regulation, new association guidelines, testing protocol, impact of mechanical deformation, and preventing over charging & thermal runaway may enhance the technical specifications. Battery regulation and safety testing may offer certain automotive battery plate market growth opportunity.
Product problems encountered can be kept at minimal if a correct product in right condition is used for right purpose. Necessary standards are to be maintained by the manufacturers to supply the products to automobile vendors and dealers for aftermarket. CCA readings are measured as per number of international standards such as EN, DIN, SAE, and IEC. In EN 50342 standard two requirements are EN1 & EN2 indicating conductance testers are calibrated. Safety concerns taken into consideration may give growth opportunity for the automotive battery plate market size.
The product is used with batteries such as lithium ion, solid state, Nickel cadmium, nickel metal hydride, aluminum ion, lithium sulfur, and metal air. Lithium ion is majorly used in electric vehicles and estimated to remain dominant during the projected time frame. Solid state provides advantages such as flame resistance, extended lifetime, less need for expensive & bulky cooling, and operate in high temperatures. Automobile manufacturers such as Volkswagen and Toyota are focusing on solid state products to power their electric cars.
Asia Pacific is the largest auto industry in the world. In China, the industry growth is attributed to its huge population coupled with rising per capita income for personal transportation that cannot be met using traditional technologies. The vehicle production is expected to grow over 40 million by 2025. China holds the largest automotive battery plate market owing to increasing adoption rate for electric vehicles and hybrid electric vehicles. In 2016, over 500,000 were sold in China which indicates 53% increase from the previous year.
In 2016, 222,000 electric vehicles were sold in Europe and over 157,000 EVs and PHEVs in the U.S., a 36% rise from prior year. Auto penetration in Europe is expected to grow in the projected time frame.
Players of the automotive battery plate market are Everlite, Exide technologies, Amtek Batteries, V.B. Corporation, ElectriPlast Corp., and NIPPON DENSO.
Automakers are focusing on mergers and acquisitions with the battery suppliers to reduce the losses caused by production delays. The suppliers are investing hugely in research activities to provide prominent features and gain competitive edge in the industry. For instance, in April 2017, Exide technologies launched GNB Marathon FPX flat battery plate and is available with dealers across North America. Aftermarket demand for the product is observed owing to its shorter lifespan. The regular inspection, testing, and charging of the product may increase its longevity.
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