Market Overview

The vehicle auxiliary battery market will generate an estimated revenue of USD 5,054.7 million in 2024, and it is expected to witness a CAGR of 5.4% during 2024–2030, to reach USD 6,947.7 million by 2030 . This is because the global drivers market has been boosted by the increased sales of both hybrid electric vehicles (HEVs) and battery electric vehicles (BEVs).

Solid-state batteries are gradually replacing lithium-ion batteries in portable electronics and EVs due to the following advantages that assist in overcoming the challenges posed by electric vehicles. Therefore, there is an increased effort from organizations and manufacturers to improve the employment of solid-state batteries for automobiles.

These strategies mainly focus on enhancing the production and the design of the manufacturing materials, as well as increasing the scale or capacity of batteries, for better commercial application. The companies in the vehicle manufacturing industry, battery manufacturing industry, and technology industries are collaborating on Research and Development activities to bring more solid-state batteries to vehicles faster.

Due to the increase in people's disposable income, people are now able to purchase cars that are equipped with complex features such as adaptive and intelligent headlights, ADAS, airbags, improved climate control systems, digital instrument clusters, and infotainment panels.

dynamic, the extent to which the connected car market is a major trend as the cars are packed with numerous features. These features increase the required amount of electric power and increase the load on the traction battery of choice of EVs.

Key Insights

·         The lead acid category dominates the market with a 35% share in 2024.

·         Lead–acid batteries are in high demand for auxiliary purposes due to their affordability and reliability.

·         They are commonly used in the SLI (starting, lighting, ignition) systems of vehicles.

·         Lithium-ion category will grow at the highest CAGR of 5.8% from 2024 to 2030.

·         Growth is driven by rising demand for efficient, high-performance auxiliary batteries for upcoming ICE and electric vehicles.

·         The 10–15 V category dominates the vehicle auxiliary battery market with a 45% share in 2024.

·         These batteries are widely used in conventional vehicles for lighting, informationtainment, and starter motors.

·         15 V category will grow at the highest CAGR from 2024 to 2030.

·         High-voltage auxiliary batteries are gaining popularity in commercial vehicles, heavy-duty trucks, and buses.

·         Prismatic category dominates the market in 2024 and is expected to grow at a 5.7% CAGR during 2024–2030.

·         Prismatic cells deliver more power and store more energy with less casing material.

·         Passenger vehicles category dominates the market with a 65% share in 2024 and is expected to grow the fastest during 2024–2030.

·         Rising demand for cars and two-three-wheelers, advancements in automotive technologies, and electrification trends drive this growth.

·         The SLI systems category dominates the market with a 55% share in 2024.

·         The informationtainment systems category will grow at the highest CAGR from 2024 to 2030.

·         APAC holds the largest revenue share of 45% in 2024 and is expected to grow at a 6.0% CAGR from 2024 to 2030.

·         Governments in the region are implementing regulations against polluting vehicles, offering EV subsidies, and supporting EV infrastructure.

·         Japan and South Korea are focusing on their EV battery markets, while India promotes EV adoption through the Vehicle Scrappage Policy.

·         China leads the global EV market, with a 55% increase in new electric car registrations in 2022. 

Source: P&S Intelligence