Auxillary Automotive Battery Market Size (2023 – 2030)

The Global Auxillary Automotive Battery Market was projected to be $4.5 billion in 2022, and by 2030 it is anticipated to be worth $6.75 billion. The market is estimated to expand at a CAGR of 5.2% between 2023 and 2030.

Market Overview:

The auxiliary automotive battery market is a fast-expanding segment of the automobile industry. As the automobile sector grows with the rapidly advanced technology, the requirement for extra power sources to operate technologies such as infotainment systems, GPS, and improved safety features has become critical. Vehicles are getting increasingly sophisticated as a result of the automotive industry's fast advancement. More power sources are now necessary to run things like infotainment systems, GPS, and improved safety features since these technological improvements have become standard in the vehicle industry.

An auxiliary battery is a battery that is added to a vehicle to power non-essential equipment. It is usually smaller and less powerful than the primary battery, which starts the engine. When the engine is turned off, the auxiliary battery is sometimes used to power amenities such as the radio, air conditioning, and lighting systems, or to supply extra power when the primary battery is unable to meet demand requirements.

Auxillary Automotive Battery Market Drivers:

Increasing Demand for Advanced Infotainment and Safety Features boosts the growth of the market:

The growing need for improved entertainment and safety features in modern automobiles is one of the primary drivers of the auxiliary automotive battery market. Consumers nowadays anticipate touchscreens, GPS navigation, and modern sound systems in their vehicles. These features need extra power sources, which auxiliary batteries offer. Moreover, technologies like lane departure warnings, blind spot identification, and collision avoidance systems need more power. These safety features are becoming increasingly essential to consumers, and as a result, automobile manufacturers are implementing them into their vehicles in greater numbers. This trend is projected to continue, increasing demand for auxiliary batteries in the future.

Growing Trend towards Electric and Hybrid Vehicles will drive the market growth:

The rising popularity of electric and hybrid cars is another major factor propelling the market for auxiliary automotive batteries. Customers are increasingly choosing electric and hybrid automobiles as a more sustainable form of transportation as they grow more environmentally concerned. But, in order to power their electric motors and other systems, these cars need more battery power. The development of new battery technologies, such as lithium-ion batteries, which are more effective and durable than conventional lead-acid batteries, is also being fuelled by the rising popularity of electric and hybrid cars. The need for supplementary batteries is anticipated to increase as these new battery technologies spread.

Auxillary Automotive Battery Market Challenges:

The increasing complexity of Modern Vehicles impedes the market growth:

Vehicles are growing more sophisticated as they become more technologically advanced. A vast variety of electronic systems, including cutting-edge entertainment and safety features, are included in modern automobiles, and these systems need for extra power sources. Due to the intricate electrical systems in modern vehicles, installing an auxiliary battery might be more difficult, and there is an increasing need for specialist installation and maintenance services. Also, installing an auxiliary battery in a modern automobile may cost more than in an older one since it can call for extra parts and specialist knowledge. As a result, the auxiliary automotive battery market may not expand as quickly as others due to the complexity of current automobiles, which can be a significant barrier to entry for new competitors.

Competition from Alternative Power Sources will restrain the growth of the market:

The competition from other power sources is another problem for the auxiliary car battery business. Auxiliary power sources like solar panels and fuel cells, for instance, are growing in acceptance since they are frequently more ecologically benign than conventional battery systems. Auxiliary battery market competition is also growing as a result of the development of new battery technologies like lithium-ion batteries. Although lithium-ion batteries are more expensive than conventional lead-acid batteries, they also last longer and are more efficient, which makes them a desirable replacement for some customers.

Impact of COVID-19 on the Auxillary Automotive Battery Market:

The COVID-19 pandemic has had a significant impact on the auxiliary automotive battery market, with a decline in demand for new vehicles, disruptions in supply chains and manufacturing activities, and changes in consumer behavior. A fall in the demand for auxiliary batteries was brought on by the pandemic as a result of a slowdown in manufacturing and a drop in the demand for new cars. Apart from that, supply chain interruptions and changes in manufacturing processes have reduced the supply of auxiliary batteries while shifting customer demand from gasoline-powered to electric vehicles. With customers becoming more environmentally concerned and the demand for electric cars rising, there are chances for the business as the globe recovers from the pandemic.

AUXILLARY AUTOMOTIVE BATTERY MARKET REPORT COVERAGE:

Auxillary Automotive Battery Market Segmentation – By Battery Type

• Lead-acid Battery
• Lithium-ion Battery
• Others

Based on current market trends and projections, the lithium-ion battery segment is likely to grow the most in the auxiliary automotive battery market. Lead-acid batteries are still the most popular type of battery used in the auxiliary automotive battery market due to their affordability and reliability. These batteries are reliable and affordable, making them popular for use in SLI systems in vehicles. The other category includes various other types of batteries, such as nickel-metal hydride (NiMH) batteries and nickel-cadmium (NiCad) batteries. NiMH batteries are commonly used in hybrid vehicles, while NiCad batteries are less common due to their lower efficiency and environmental concerns.

Auxillary Automotive Battery Market Segmentation – By Application

• SLI System
• Infotainment System
• Other Electronic Components

The infotainment systems segment is likely to grow the most in the auxiliary automotive battery market based on current market trends and projections. SLI batteries are still the most common type of auxiliary battery used in traditional gasoline-powered vehicles, while lithium-ion batteries are becoming increasingly popular in electric and hybrid vehicles. SLI systems are used to start the engine and power the lights and other electronic components in the vehicle. SLI batteries are typically lead-acid batteries and are used in traditional gasoline-powered vehicles. Infotainment systems include features like audio, navigation, and connectivity. These systems are becoming increasingly important in modern vehicles, and as a result, the demand for auxiliary batteries to power them is growing. Other electronic components in a vehicle include sensors, cameras, and various control modules. These components require a steady supply of power to operate effectively, and auxiliary batteries can provide this power.

Auxillary Automotive Battery Market Segmentation – By Region

• North America
• Europe
• Asia-Pacific
• Rest of the World

Auxiliary automotive batteries are predicted to have the biggest and fastest-growing markets in the Asia Pacific area due to the region's expanding automotive sector, rising use of electric and hybrid cars, and supportive governmental regulations. Due to the presence of numerous significant manufacturers in the area, North America is anticipated to be one of the greatest markets for auxiliary automotive batteries. The need for lithium-ion batteries is also being driven by the region's growing use of electric and hybrid automobiles. Europe is another significant market for auxiliary automotive batteries, primarily due to the region's strict emission regulations. The Rest of the World segment includes regions like Latin America, the Middle East, and Africa. The demand for auxiliary automotive batteries in these regions is likely to grow, primarily due to the increasing adoption of electric and hybrid vehicles.

Auxillary Automotive Battery Market Segmentation- Key Players

Here are the top 10 key players in the auxiliary automotive battery market:

1. A123 Systems LLC
2. East Penn Manufacturing Co.
3. EnerSys
4. Exide Technologies
5. GS Yuasa Corporation
6. Johnson Controls International plc
7. Panasonic Corporation
8. Saft Groupe S.A.
9. Samsung SDI Co., Ltd.
10. VARTA AG