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AnZ Automotive Battery Market

ANZ Market Study on Automotive Batteries: Increasing Electrification of Vehicle Components to Surge Demand

Global AnZ Automotive Battery Market Segmentation by Battery Type- Lead Acid (Flooded, Absorbed Glass Mat, Gel Cell Battery), Lithium Ion, Nickel Metal Hydride (NiMH).

Automotive Battery Market Snapshot

[134 Pages] According to Persistence Market Research, the Automotive Battery Market revenue totalled US$ 860.8 Million for 2022. Battery is a crucial part of the operation of ignition of automotive. The demand for automotive batteries is rising along with the increase in vehicle economy. The market for automotive batteries is also being driven by the growing adoption of electric vehicles. The ANZ Automotive Battery Market is expected to reach US$ 1,873.2 Million by 2033, growing at a CAGR of 7.4% from 2023 to 2033.

An automotive battery that powers a vehicle's electrical system is a rechargeable battery also known as starting, lighting and ignition battery. It provides electrical power and ignition voltage to the vehicle's starting mechanism. Lithium-ion battery is a commonly used type of battery in electric cars. The automotive industry is benefiting from the advancement of battery technology. An increasing number of electric vehicles are in use in many countries, including Australia and New Zealand.

The increasing demand of electric vehicles across Australia and New Zealand has been fuelled by government initiatives such as subsidies and tax exemptions, as well as an increased availability of charging stations across both countries. In addition, many leading automakers have also been investing heavily into research and development projects related to advanced battery technologies which are expected to further accelerate the adoption of EVs in these markets and further positively impact sales of batteries in the market.

Australia and New Zealand Automotive Battery Market Size (2022A)

US$ 860.8 Million

Australia and New Zealand Automotive Battery Market Size (2023E)

US$ 917.4 Million

Projected Automotive Battery Market Value (2033F)

US$ 1,873.2 Million

Value CAGR (2023-2033)

7.4%

Collective Value Share: Top 5 Companies (2022)

15-20%

The Australia and New Zealand automotive battery market accounts for ~ 2 to 4% of its parent market of the global automotive battery market.

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Demand Analysis of the Automotive Battery Market from 2018 to 2022 Vs Market Outlook for 2023 to 2033

From 2018 to 2022, the market of Automotive Battery Market increased at a 4.2% CAGR and is projected to grow at a value CAGR of 7.4% in the forecast period 2023 to 2033. In the historical period, the market for the automotive battery continuously expanded as a result of rising environmental concerns and stringent vehicle emissions standards in Australia and New Zealand.

The greatest challenge that the automotive industry has recently faced is the ongoing coronavirus outbreak. In turn, the pandemic had a notable impact on automotive markets in Australia and New Zealand. In 2020, New Zealand reported a drop of roughly 19% in the sale of electric vehicles. The introduction of significant advances in the automotive sector has led to the expansion and ongoing growth of the automotive industry which did positively impact on the automotive sales outlook in the year 2022.

In the years following the pandemic, demand for electric cars is likely to grow owing to improved infrastructure and consumer awareness. Moreover, demand for conventional vehicles especially commercial vehicles will boost the automotive market in the region. These promising developments are likely to significantly increase the demand for automotive batteries in Australia and New Zealand. This is anticipated to boost the market to reach US$ 1,873.2 Million by the end of 2033, up from US$ 677.3 Million in the year 2018.

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What are the drivers for the Australia and New Zealand Automotive Battery Market?

The primary factor driving Australia and New Zealand automotive battery market is the surge in the automotive fleet, emerging electrical vehicle infrastructure, and continuous advancement in battery technology in the Australia and New Zealand automotive sector. Also, the ongoing focus on electrification of vehicle components owing to strict government regulations on vehicle emissions, and rising sales of electric and hybrid types of vehicles, all contribute to the growth of the automotive battery market.

Electric and hybrid batteries are gaining traction from customers owing to the longer life span and effective working imparted by these batteries. The demand for batteries has exponentially increased, as the end users preferring electric and hybrid vehicles to reduce the usage of conventional vehicles. However, Aftermarket sales of automotive batteries in the region are also one of the reasons behind ANZ's automotive market growth. As Australia and New Zealand have extensive automotive fleets and negligible automotive production therefore aftermarket fitment rates increases. The demand for lead acid batteries from the aftermarket is expected to contribute significantly to the growth of the automotive battery market in Australia and New Zealand.

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What are the Opportunities for the Australia and New Zealand Automotive Battery Market growth?

The market for automotive batteries in Australia and New Zealand is having lucrative growth opportunities in the upcoming years due to factors like advancement in battery technology and developing battery recycling capabilities.

Automotive manufacturers are focusing on reducing the weight and size of vehicle parts and making them compact to increase their performance. As a result, battery manufacturers are manufacturing batteries with enhanced performance and portable designs for use in vehicles. The recent designs include introduction of new bipolar batteries, in which cells are stacked in sandwich construction. These batteries drastically reduce the size and weight of batteries as well as improve their performance. Battery manufacturers are developing enhanced battery technologies to meet the growing demand for dynamic energy storage batteries that are maintenance-free, have a higher lifespan, and are energy efficient.

The recycling capability of automotive batteries will also play a crucial role for the market growth opportunities in the coming years. The automotive battery can be recycled and reused in the vehicle after its expiry period. Recycling automotive batteries can create significant opportunities for market participants for developing advanced batteries with limited raw materials. Thus, creating a growth opportunity for market to grow in the region.

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Country-wise Analysis

What is the demand outlook for Automotive Battery Market in Australia?

Owing to the virtue of fleet in operation and substantial aftermarket opportunities, Australia holds around 91.3% value share of the Australia and New Zealand Automotive Battery Market.

The market is stimulated in the country by the gradual uptake in demand for electric cars, and escalating government measures to adopt electrical vehicles to decrease the increasing pollution by fuel-based vehicles in the country. However, recently the federal chamber of Australia's automotive industries announced that the new vehicle registrations of 87,920 units in December 2022 represented an increase of 12.1% over December 2021. SUV sales of 574,632 units represented an 8.1% increase, LCV sales of 256,382 units represented a 1.2% increase and MHCV sales of 47,359 units represented a 9.3% increase from the previous year. This growth in vehicle demand is responsible for the effective market share of the Country’s automotive battery demand.

How is New Zealand placed in the automotive battery market?

In 2023, the Automotive Battery Market demand in New Zealand is anticipated to grow at an 8.4% CAGR.

The market is expected to increase as a result of the changing vehicle finance landscape, and the rise of electric cars in the country. The demand for electric vehicles is slowly but continuously ramping up in the country, it is also driven by the provided governmental subsidy to a customer planning to buy an electric vehicle. With 4.4 million light vehicles across the nation, the average license holder owns more than one vehicle. New Zealand has one of the significant rate of vehicle ownership per 1,000 people in the world. These factors drive the market growth of automotive batteries in the country.

Category-wise Insights

Which Battery Type of Automotive Battery Market remains Significant?

The Lithium-ion segment leads the Automotive Battery Market by battery type and it is anticipated to hold a value share of 31.1% in the global market for the forecasted period.

Li-ion batteries have technological advances such as comparatively higher energy density, smaller battery size, and extensive application in motive-powered vehicles. Li-Ion batteries have faster charging rates, more capacity, and extensive serving life, and also are the safer and more reliable power source for electric vehicles. These benefits are boosting the market share of Li-Ion batteries in the automotive battery market.

Which sales channel account for Prominent Sales in the Australia and New Zealand Automotive Battery Market?

The Aftermarket segment dominates the Australia and New Zealand Automotive Battery Market by sales channel and is expected to hold its position until the end of the forecast period, having a value share of 52.2% in the year 2022.

Batteries for automobiles are subjected to continuous drainage. Although these batteries have lengthy replacement cycles, ongoing expansion of fleets of ageing vehicles still presents substantial development potential for suppliers in the automotive battery aftermarket. Additionally, due to the expanding automotive fleets and low levels of automotive manufacture in Australia and New Zealand, aftermarket fitment rates have increased. These factors are responsible for prominent sales with an aftermarket sales channel in the ANZ automotive battery market.

Competitive Landscape

The Australia and New Zealand automotive battery market is a fairly fragmented market, in which tier-1 players (established companies) account for around 25% of the market share. Around 75% of the market share is catered through tier-2 or next level players across the Australia and New Zealand. Key market players are in the process of expanding their production facilities throughout Australia and New Zealand. The leading market participants for automotive batteries are concentrating on business expansion through collaborations and alliances to further strengthen their market position in national and international markets, as well as new product launches to diversify their product lines.

  • In January 2023, Honda and GS Yuasa Reach Basic Agreement Toward Collaboration for a High-capacity, High-output Lithium-ion Battery.
  • In October 2022, EnerSys, the global leader in stored energy solutions for industrial applications, has strengthened its Manufacturer Representative Agreement with Industrial Battery and Charger, Inc. (IBCI) by granting exclusive sales and service rights for all EnerSys® motive power products in the Middle Tennessee Territory, with local offices in Nashville.

Automotive Battery Market Industry Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

  • US$ Million for Value
  • Units for volume

Key Countries Covered

  • Australia
  • New Zealand

Key Market Segments Covered

  • Battery Type
  • Vehicle Type
  • Sales Channel
  • Country

Key Companies Profiled

  • GS Yuasa Corporation
  • Exide Technologies
  • East Penn Manufacturing Company
  • Clarios Delkor Corporation
  • ENERSYS
  • Panasonic Corp.
  • Supercharge Batteries
  • Hankook AtlasBX Co. Ltd.
  • FIAMM Energy Technology S.p.A.
  • Marshall Batteries

Pricing

Available upon Request

Key Segments Covered in Automotive Battery Market Industry Research

By Battery Type

  • Lead Acid
    • Flooded
    • Absorbed Glass Mat
    • Gel Cell Battery
  • Lithium Ion
  • Nickel Metal Hydride (NiMH)
  • Others

By Vehicle Type

  • Internal Combustion (IC) Engine
    • Two Wheelers
    • Passenger Cars
    • Light Commercial Vehicle (LCV)
    • Heavy Commercial Vehicle (HCV)
  • Electric and Hybrid Vehicles
    • Two Wheelers
    • Passenger Cars
    • Light Commercial Vehicle (LCV)
    • Heavy Commercial Vehicle (HCV)

By Sales Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

By Country

  • Australia
  • New Zealand

- Companies Covered in This Report -

  • GS Yuasa Corporation.
  • Exide Technologies
  • East Penn Manufacturing Company
  • Clarios Delkor Corporation
  • ENERSYS
  • Panasonic Corp.
  • Supercharge Batteries
  • Hankook AtlasBX Co. Ltd.
  • FIAMM Energy Technology S.p.A.
  • Marshall Batteries

- Frequently Asked Questions -

The Australia and New Zealand Automotive Battery Market is estimated to be valued at over US$ 917.4 Million as of 2023.

Automotive Battery Market is projected to increase at 7.4% CAGR and is expected to be valued at around US$ 1,873.2 Million by 2033 end.

The top players in the Australia and New Zealand Automotive Battery Market are GS Yuasa Corporation, Exide Technologies, East Penn Manufacturing Company, Clarios Delkor Corporation, ENERSYS, Panasonic Corp., Supercharge Batteries, Hankook AtlasBX Co. Ltd., FIAMM Energy Technology S.p.A., Marshall Batteries, etc.

The surge in the automotive fleet, emerging electrical vehicle infrastructure, and continuous advancement in battery technology are the factor driving the demand for Automotive Battery Market.

The latest trend is that of the key players emphasizing on increasing their presence through online sales channels.

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