South Korea Automotive Rechargeable Battery Market was valued at USD 4.3 Billion in 2022 and is projected to reach USD 10.5 Billion by 2030, growing at a CAGR of 12.1% from 2024 to 2030.
The South Korea Automotive Rechargeable Battery Market is witnessing rapid growth due to the increasing demand for electric vehicles (EVs) and hybrid electric vehicles (HEVs). This shift towards greener transportation solutions has driven the need for advanced, high-performance rechargeable batteries that can ensure longer driving ranges and efficient energy storage. The key types of batteries dominating the market are lithium-ion (Li-ion) batteries, which provide the necessary energy density, fast charging, and high efficiency required for modern automotive applications. Additionally, solid-state batteries, though still in their early stages, are gaining traction due to their enhanced safety and potential for higher energy density.
Industries across South Korea are increasingly relying on automotive rechargeable batteries, with major automotive manufacturers such as Hyundai and Kia ramping up their production of electric vehicles. These manufacturers require high-quality batteries that offer reliability and performance under various environmental conditions. For instance, a robust battery technology capable of handling temperature fluctuations and maintaining charge over extended periods is crucial for EVs that operate in diverse climates.
Furthermore, the demand for these batteries is also driven by the expansion of infrastructure supporting EVs, such as charging stations and battery recycling facilities. The automotive rechargeable battery market must cater to the needs of industries focusing on innovation in battery longevity, cost-efficiency, and environmental impact. The South Korean government has been actively supporting the shift towards electric mobility by offering incentives for EV manufacturing, which directly impacts the rechargeable battery demand. Moreover, manufacturers are pushing for more sustainable battery technologies to meet the growing concern over the environmental footprint of battery production and disposal.
As South Korea continues to be a leader in the global automotive sector, the Automotive Rechargeable Battery Market is expected to grow significantly. Innovations in battery technology will not only play a critical role in enhancing vehicle performance but also contribute to reducing the carbon footprint of the entire automotive industry.
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Johnson Controls
Delphi
Exide
GS Yuasa Corp AC Delco
Camel Group
EnerSys
Fengfan
Bosch
Furukawa
C&D Technologies
Amara Raja Batteries
BYD
CATL
Panasonic
Amaron
AtlasBX
Banner batteries
Chaowei Power
CSB Battery
EAST PENN Manufacturing
First National Battery
Midac Power
Narada Power
NorthStar Battery
Sacred Sun Power Sources
Tianneng Power
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Automotive Rechargeable Battery Market
Lithium-ion (Li-ion)
Nickel-Metal Hydride (NiMH)
Lead-Acid
Solid-State Batteries
Others
Below 12V
12V to 24V
24V to 48V
Above 48V
Electric Vehicles (EVs)
Hybrid Electric Vehicles (HEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)
Two-Wheelers
Other Automotive Applications
Wired Charging
Wireless Charging
Fast Charging
Standard Charging
Original Equipment Manufacturers (OEMs)
Aftermarket
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Automotive Rechargeable Battery Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Automotive Rechargeable Battery Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Automotive Rechargeable Battery Market, By Type
6. South Korea Automotive Rechargeable Battery Market, By Application
7. South Korea Automotive Rechargeable Battery Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Automotive Rechargeable Battery Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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