What is Natural Gas Automotive Power Battery Market?
Natural gas automotive-powered batteries are commonly used in LNG or CNG vehicles to operate vehicles. Prominent growth of hybrid vehicles especially passenger cars in past years due to increasing fuel prices and enhance vehicle mileage have accelerated the growth of batteries used in natural gas vehicles. However, many vehicle manufacturers are also offering CNG or LNG kits in factory fitment with their vehicles which are expected to fuel the growth in the market. Lead acid batteries are commonly used in natural gas vehicles but the innovation and advancements in the battery materials to develop high-quality, more efficient, and automotive-safe batteries and the availability of lithium-ion batteries have created noteworthy growth for the market.
Highlights from Natural Gas Automotive Power Battery Market Study
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Amaron (India), SF Batteries (India), Exide (India), BYD (China), K2 Energy (United States), LG Chem (South Korea), Sonnen GmbH (Germany), Freedom Won (South Africa), ENVISION AESC GROUP LTD. (Nissan) (Japan), Lithium Energy Japan (Japan), Hitachi (Japan), A123 Systems (United States), Samsung SDI (South Korea) and Natural Battery Technologies (India) |
The companies are increasingly focusing and investing in the development of products with better characteristics to remain competitive and meet changing consumer demand. The key manufacturers are also developing and launching products that can be used in both natural gas and hybrid vehicles.
Amaron (India), SF Batteries (India), Exide (India), BYD (China), K2 Energy (United States), LG Chem (South Korea), Sonnen GmbH (Germany), Freedom Won (South Africa), ENVISION AESC GROUP LTD. (Nissan) (Japan), Lithium Energy Japan (Japan), Hitachi (Japan), A123 Systems (United States), Samsung SDI (South Korea) and Natural Battery Technologies (India) are some of the key players profiled in the study. Natural Gas Automotive Power Battery Market Segmentation:
Scope | Sub-Segments |
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Type | Lithium Ion and Lead Acid |
Category | Passenger Cars,Commercial Vehicles {Lightweight Commercial Vehicles, Heavy Commercial Vehicles} |
Vehicle Type | Dedicated,Bi-fuel,Dual-fuel |
Fuel Type | Liquefied Natural Gas (LNG),Compressed Natural Gas (CNG) |
On the basis of geography, the market of Natural Gas Automotive Power Battery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Natural Gas Automotive Power Battery Market Dynamics:
Attributes | Details |
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Growth Drivers | - Use of Natural Gas as Fuel in Vehicles Due to Better Mileage and Less Carbon Emission
- High Demand for Liquefied Natural Gas (LNG) for Application in Heavy Commercial Vehicles Due to Cheap Cost
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Influencing Trends | - Significant Inclination Towards the Lithium Iron Phosphate Battery Due to Its Stability and Less Possibility to Heat Generation
- Government Initiatives Towards the Adoption of Dedicated Vehicle Types for Public Transportation
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Restraints | - Huge Adoption of Electric Vehicles around the World Due to Rising Awareness About Environmental Impact and Support Sustainable Growth
- Increasing Battery Raw Material Prices Due to Covid-19 Pandemic and Russia Ukraine war
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Road Blocks / Challenges | - Inadequate Natural Gas Dispensing Stations on Prime Routes and Highways are the Biggest Obstacle to the Market
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Gaps & Opportunities | - Rising Adoption of Natural Gas Vehicles in the European Market and Emerging Economies like India
- Use of Bi-fuel Passenger Cars Can Create Significant Opportunities for the Market
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Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Natural Gas Automotive Power Battery Manufacturers, Natural Gas Automotive Power Battery Suppliers and Distributors, Venture Capitalists and Private Equity Firms, Regulatory bodies & Research Organizations, End-Users and Others
In May 2022, Natural Battery Technologies, a leading battery manufacturer in India launched automotive safe batteries with technological advancements in lithium iron phosphate. The newly developed batteries have 1800-2000 cycles and leakproof characteristics and can be replaced with lead acid batteries. The company is also developing the home and commercial-based lithium batteries that can be used for solar energy storage.
According to the regulation, all lithium-ion batteries and cells are required to get UN 38.3 certification for transportation of lithium-ion batteries. The standard applies throughout the whole transportation process from sub-suppliers to end-product manufacturers and distributors either own or installed in a device. The UN 38.3 standard includes four classifications UN 3090, UN 3480, UN 3091, and UN 3481 according to the battery types and the way they are shipped.