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According to a report released by Technavio, an international market research institution, the global start-stop battery market is expected to grow by $7.
85 billion during 2020-2024, and the growth momentum of the market will accelerate
at a compound annual growth rate of more than 22.
12%.
The report predicts that the introduction of stringent vehicle emission regulations is one of the key reasons that are expected to drive the growth of
the start-stop battery market in the next five years.
Lithium-ion batteries are one of
the most widely used batteries for start-stop technology.
Lithium is a light metal with a good electrochemical potential
compared to other battery technologies due to its high energy density.
Electric vehicles rely on lithium-ion battery technology for starting, lighting and ignition (SLI) applications, which rely on metals such as lithium and mixtures
of cobalt, manganese, nickel and graphite.
On the other hand, compared to traditional full-liquid batteries, lead-acid batteries have longer battery life, longer battery running time, and lower operating temperatures
.
These benefits make them ideal for start-stop applications
.
With the increasing demand for lead-acid batteries in automotive applications, lead-acid battery manufacturers are investing heavily in R&D to achieve high operational efficiency
.
However, the lead-acid battery segment will grow more slowly than lithium-ion batteries and other segments
.
However, sourcing materials for battery manufacturing has been difficult
.
To overcome these issues, manufacturers such as Tesla have identified alternative sources of materials for battery production
.
Alternative materials such as LTO and LFP are becoming more popular due to concerns about cobalt procurement, which is expected to drive the growth
of the start-stop battery market size.
49% of the market growth during the forecast period will come from the Asia-Pacific region
.
China and Japan are the main markets
for start-stop batteries in the Asia-Pacific region.
However, the market growth in this region will be slower than that in other regions
.
According to a report released by Technavio, an international market research institution, the global start-stop battery market is expected to grow by $7.
85 billion during 2020-2024, and the growth momentum of the market will accelerate
at a compound annual growth rate of more than 22.
12%.
The report predicts that the introduction of stringent vehicle emission regulations is one of the key reasons that are expected to drive the growth of
the start-stop battery market in the next five years.
Lithium-ion batteries are one of
the most widely used batteries for start-stop technology.
Lithium is a light metal with a good electrochemical potential
compared to other battery technologies due to its high energy density.
Electric vehicles rely on lithium-ion battery technology for starting, lighting and ignition (SLI) applications, which rely on metals such as lithium and mixtures
of cobalt, manganese, nickel and graphite.
On the other hand, compared to traditional full-liquid batteries, lead-acid batteries have longer battery life, longer battery running time, and lower operating temperatures
.
These benefits make them ideal for start-stop applications
.
With the increasing demand for lead-acid batteries in automotive applications, lead-acid battery manufacturers are investing heavily in R&D to achieve high operational efficiency
.
However, the lead-acid battery segment will grow more slowly than lithium-ion batteries and other segments
.
However, sourcing materials for battery manufacturing has been difficult
.
To overcome these issues, manufacturers such as Tesla have identified alternative sources of materials for battery production
.
Alternative materials such as LTO and LFP are becoming more popular due to concerns about cobalt procurement, which is expected to drive the growth
of the start-stop battery market size.
49% of the market growth during the forecast period will come from the Asia-Pacific region
.
China and Japan are the main markets
for start-stop batteries in the Asia-Pacific region.
However, the market growth in this region will be slower than that in other regions
.
